Last Friday the market bounced at a key level, opening the door to a possible change in character in the market. See below the long wick of the weekly candle for the RSP 0.00%↑ (Equal weight SP500), indicating buyers reappearing at the bottom of the box.
Unfortunately, the news from Israel changed the picture for this coming week. War is something we never want to see anywhere. Yet it will have geo-political and economic implications that are difficult to assess. I expect markets to be on defence.
Looking at sectors, it is still the technology area that showed strength the most. See below how buyers showed up in the last two weeks. There is a demand for technology underneath the complex current economic outlook. Below the equal weight technology index:
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