The REAL S&P
The REAL S&P
$Microsoft(MSFT)$ $Apple(AAPL)$ $Meta Platforms, Inc.(META)$ $Amazon.com(AMZN)$ $Alphabet(GOOG)$
As you might have heard headlines like
"97% of the gains in SNP this year are made up by the top 15 companies"
"Worst market breadth of all time"
Here's a chart of the big 5 (FAANG with microsoft instead of google)
Those "TECH" companies are seemingly ignoring bearish economics and skyrocketing on AI
But...how long will it last when people are seeing 30% lettuce inflation and the like?
(Not to mention NATGAS and USOIL sitting at strong support levels forecasting another possible runup on inflation)
Who knows... I'm not an oracle but here's a chart shows elliot count and pre-distribution supply level
Source: tradingview
Good luck
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- Brando741319·2023-05-12OkLikeReport