This week in the US stock market, one word: up. Two words: tech up.


SPX opened today at 7598, just shy of its all-time high.
Nasdaq is at 27088, also near a new high.
The most aggressive sector is the tech sector XLK, which rose 2.48% in the first half hour of trading.
Honestly, I feel a bit dazed.
A month ago, everyone was still discussing whether there would be a pullback,
now they’re talking about “whether it can continue next week” at the new highs.
Energy is the only sector that was hurt this week.
XLE fell 1.22 today, oil prices are dropping, money is moving from old economy to AI and semiconductors.
This week’s sector rotation was almost one-sided.
Next week, I’m watching two things.
First, whether this tech wave can spread to finance (XLF was basically stagnant this week).
Second, whether anyone will start to run after hitting new highs.
The AI story isn’t over yet, but after reaching new highs, I always stay a little more cautious.
SPX-1.09%
XLE-5.87%
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