Cautiously Optimistic

S.T.A.Y.™ current position for Active portion of portfolio:  BUY – S.T.A.Y. Plus™ 

Cautiously Optimistic
Over the course of the week, although initial selling pressures emerged on Monday, Tuesday, and Friday, the market demonstrated resilience by recovering each day. This consistent buying pressure was instrumental in driving the market above the 5350 level on Wednesday to a new all-time high.  This rally was predominantly driven by significant gains in large-cap tech stocks like Meta, Apple, Google, Amazon, and Nvidia, indicating a preference for large tech-oriented investments amidst the broader market dynamics. However, when contrasting this with the equal-weighted S&P 500, the broader market appears less robust, suggesting a consolidation phase rather than a strong breakout, which signals caution amidst the optimism.

By way of review, you can see that we have included two different charts. One is a "Weekly" chart of the S&P 500 index (AKA "the market"), and the other is a "Monthly" chart of the S&P 500 index. Each bar represents the aggregation of either a week or a month's activity. The top of the red bars represents the opening price and the bottom of the red bar represents the closing price of the market in that corresponding time frame. The green bars are just the opposite; top is the closing price, and bottom is the opening price. The wicks on the top and bottom represent any trading in that period that is outside of the opening and closing bounds. 

We include these charts so that you can see what the market is doing with some greater context. Feel free to hit us up with any questions on how to read these charts.

Weekly S&P 500 Chart (with all-time hi shown)

Monthly S&P 500 Chart (with all-time hi shown)