THE LAST TRADING DAY OF MAY ENDS WITH A RETURN FROM SOFTWARE & FINTECH.
At the same time, the semis continue to hold onto their momentum, implying that the market is finding some room to broaden which feels healthier than one sector leading the way. Earnings estimates continue to grow as the S&P hits new highs but it's fwd P/E falls from 23 to 21 because of the earnings growth. Over the last month, $SPY +6.4% and $QQQ +11.68%.The bulls continue to be in control.Source: amit
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