3/25/2024
By Charles Payne CEO & Principal Analyst

It was an excellent week for the stock market as Technology (XLK) resumed its leadership role. However, several money-making investing narratives emerged suddenly. The S&P 500 is higher than the NASDAQ Composite.

The widening rally has lifted 79% of the S&P 500 above their 200-day moving average, including 91% of Energy (XLE) names.

Still, last week started with the ‘Woodstock of AI’, as the Nvidia (NVDA) conference ignited Communication Services (XLC), although the same tide lifted some ships and sank others.

Nvidia (NVDA) rallied, but Advanced Micro Devices (AMD) sputtered, and Super Micro Computer Inc (SMCI) skidded everywhere. Currently, there was only one king of Artifical Intelligence (AI) during ‘Woodstock of Al’ week.

Flows Flowing & Rally Broadening

A monster slug of cash flowed into domestic funds.

Some of that cash chased performance as large-cap growth continues to rock and roll, but here comes small-cap value, which enjoyed another intense week and is only down -0.1% on the year.

To read the full report, contact your account representative or email Info@wstreet.com.

Charles Payne
Wall Street Strategies

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