Tech Generals

Apple($925BN), Amazon ($760BN), Microsoft ($735BN), Google ($720BN) and Facebook ($510BN) are the five largest companies by market capitalisation trading on the New York Stock Exchange. Together, they are valued in excess of $3.5 trillion. They are the generals of Wall Street, have led from the front and their performance will drive this bull market until its conclusion. For the first 2 1/2 months of 2018, these tech giants continued to outperform the S&P 500 to varying degrees, with AMZN being the clear market leader. However, GOOGL and FB have stumbled since reporting 1Q 2018 earnings last week.

 
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That just leaves AAPL, MSFT and AMZN. Market leadership is thinning out. Only 41% of the top 100 US stocks are now trading above their long-term 200 day moving average. If the trend doesn't reverse soon, this bull market is dead.

At Secure Investments, I advise individual clients on their pension and non-pension fund investment portfolios. To learn more about my Active Asset Allocator and Gold Trader investment strategies, please get in touch at brian@secureinvestments.ie or 086 821 5911.

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