The View from 5th Avenue

The View from 5th Avenue – 24 May 2021

Markets are five days away from their first summer (unofficial) weekend and volumes (lowest so far this year) certainly felt like it.  But instead of traders doing nothing, investors kept with the momentum that started mid last week, namely buying Tech and Semis, which led to Nasdaq/ NDX 100 closing back above their 50 day moving averages. It was not all about Growth though, with just about every sector finishing green (Utilities and Pharma fell into close to finish with slight losses).

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