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Just caught the market recap and wow, the rally this week has been something else. S&P 500 hit an all time high around 7,022, Nasdaq even better at over 24k. The speed of this move is insane too - Nasdaq went from oversold to overbought in like 11 trading days, fastest swing since the early 80s. That's an 11-day win streak for the index.
Tech names are absolutely flying. Microsoft up nearly 4% Wednesday alone, Salesforce bouncing back hard. Software ETF recovered almost 10% this week after people were worried about Claude affecting the SaaS space. Tesla was the star though - up almost 8% on news about their new AI5 chip getting closer to production, plus some factory expansion plans with SpaceX. Stock's now up over 12% for the week.
The whole market just feels like everyone's buying into this risk-on mood. S&P hitting all time high levels while the Nasdaq's been on a tear. Curious how long this pace holds though - moves this fast don't usually stick around forever.