Cracks
If we are going to trade S&P500 Index, it is imperative that we monitor what 35% of the concentration is trading like. The Magnificent 7 are starting to show some cracks. DeepSeeks arrival on the block was the first shots fired in what may become a longer, real test of true value across the tech group. Lets look at each below.
Amazon’s Q1 guidance came out poor mid week, it closed the week below average price on the year so far $230. It is my view that it trade down to $200 - YPVAH before we get new highs. Watch for yearly VWAP .ie average price on the year to act as broad resistance. This market is contextually imbalanced up, with dynamic value now rotating down.
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