This week, the U.S. stock market has only one word: up. Two words: tech is rising.


SPX opened today at 7598, just shy of its all-time high. The Nasdaq is at 27088, also near a new high.
The strongest sector is the tech sector XLK, which surged 2.48% in the first half-hour after opening.
Honestly, I feel a bit dazed. A month ago, everyone was still discussing whether there would be a pullback, and now we're talking about "whether it can continue next week" at new highs.
Energy was the only sector hurt this week. XLE fell 1.22 today, oil prices are dropping, and money is moving from old economy sectors to AI and semiconductors.
This week's sector rotation was almost one-sided.
Next week, I’m watching two things. First, whether this tech rally can spread to the financial sector (XLF has basically been stagnant this week). Second, whether anyone will start to sell after hitting new highs.
The AI story isn’t over yet, but after reaching new highs, I always keep an extra cautious eye on the market.
SPX0.12%
XLE-6.61%
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