Yup, that’s four days in a row for those of you counting. 2022 has been a tough year for markets, so accomplishing four green days consecutively is a win. By the way, this was last done in March for the S&P and Nasdaq. With little new news to change the short term positive momentum, traders stuck to this week’s themes, buying growth/ mega tech. The Growth versus Value trade has outperformed by 4% since last Friday (for the S&P), and a few big tech names have closed above their 50 day moving averages (Apple, Amazon, Google and Microsoft). While the broader indexes remain below their 50 days, those levels are within striking distance. Today’s session had most sectors higher.
The content on this site is available to all Redburn clients as part of Redburn Execution’s standard service. It is not considered substantive research and there are no commercial implications to viewing these pages.
Please enter your email address below to view this page. If you are still unable to access the page, please speak to your account manager.