We have been seeing a massive rally led by tech since last 2023 continuing in 2024. Personally I was expecting a major pullback in the first weeks of 2024 but it was just a very small one.
Earnings continue to be decent, but in many sectors is getting disappointing and we have to remember that the tech heavy ETF and the index is basically NVIDIA, and some other semiconductor hype based on AI and the potential for transformation.
Technical data points to another small pullback but Wednesday-post market(NVIDIA earnings) will determine how deep this pullback is, based on investor sentiment on the current semiconductor industry and AI prospects of impact.
Earnings continue to be decent, but in many sectors is getting disappointing and we have to remember that the tech heavy ETF and the index is basically NVIDIA, and some other semiconductor hype based on AI and the potential for transformation.
Technical data points to another small pullback but Wednesday-post market(NVIDIA earnings) will determine how deep this pullback is, based on investor sentiment on the current semiconductor industry and AI prospects of impact.