Equity Strategies Group-Level Analysis Of The Equity Markets
Tech Watch…..S&P Tech Subset Down 19% In September, Down -33% In Q3
On a valuation basis, tech stocks are approaching an attractive accumulation zone.
Tech Watch…..S&P Tech Subset Down 12% In August
Can there be a significant market rally without a tech rally? Maybe not. S&P 500 tech weight (16.9%) now slightly below our “normal” target weight of 17%.
New Select Industries Group Holding: Buying Office Electronics
Upgrade to Attractive is result of broad quantitative improvement in almost all measures.
Scanning The Markets
It’s been a very difficult market, as there has been very little prolonged group leadership. This is to be expected near market bottoms, as investors are shifting assets quickly in these uncertain times.
Tech Watch…..S&P Tech Subset Down 5% In July
Worse than expected Q2 earnings (losses) beat down the tech sector in July. The bad news just won’t end.
Internet Debacle (Opportunity?) Index
Introducing our new “Internet Survivors?” group screen: Internet companies that we believe may have higher potential to weather the storm and survive this tech bear market.
New Select Industries Group Holding: Computer & Electronics Retail
Group had rare double upgrade from Unattractive to Attractive this month.
Scanning The Markets
It’s been a very difficult market, as there has been very little prolonged group leadership. This is to be expected near market bottoms, as investors are shifting assets quickly in these uncertain times.
Scanning The Markets
Small cap stocks were clearly superior in June, with the Russell 2000 rising 3.3% and the S&P Small Cap Index up 3.6%.
Tech Watch…..Tech Turns Up In Late June
After weathering a big correction in March and early April, Tech stocks have recently acted pretty well considering the dismal earnings and worsening outlook.
Internet Debacle (Opportunity?) Index
These internet stocks soared during the insanity phase and recently suffered through the debacle. It may now be time to start looking for opportunities here.
Tech Watch…..Weak In May
Tech stocks struggled again as a torrent of disappointing news showered the group in May.
Internet Debacle Index
Internet Debacle’s May performance (-0.6%) was pulled down by the large number of components in the B2B Software segment.
New Select Industries Group Holding: Erecting New Steel Position
Group showing strength and is likely a beneficiary, along with the construction industry, of much needed expansion of U.S. energy facilities.
Scanning The Markets
Tech was hit hard in the last half of May, with eight of the 20 worst performers being Tech related.
Tech Watch…..Strong Bounce In April
Tech stocks came roaring back in April (Info Tech sector up 22%), but don’t expect another parabolic rise!
Internet Debacle Index
If we get another performance month like April, we may again have to re-christen this as The Internet Opportunity Index.
New Select Industries Group Holding: Semiconductor Equipment
This highly cyclical group should benefit earlier than the chipmakers in a recovery.
Scanning The Markets
In April, the technology stocks came roaring back to life. Of the 20 best performing groups during the month, 14 were technology related.
Tech Watch…..The Bubble Is Gone
Tech valuations very much back in line, the question is, how low can they go?
Perception for the Professional
March 2026 Issue
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March 2026 Issue
