Cybersecurity set to thrive in the weeks, months ahead Array ( [cookie] => 5b56ca-be3475-f58eaf-a25eed-483e78 [current_usage] => 2 [max_usage] => 2 [current_usage_crypto] => 2 [max_usage_crypto] => 2 [lock] => 1 [message] => [error] => [active_member] => 0 [subscriber] => 0 [role] => [visitor_id] => 19192 [user_id] => [reason] => [method] => ) 1 and can accesss
S&P and QQQ have largely been treading water in recent weeks as the SPX remains just a few ticks above where it was back in mid-June (closed on Monday 6/17 at 5473.24 two weeks ago). Given that economic data continues to miss expectations, Treasury yields should be starting to pull back to new monthly lows in the near future and US Dollar likely should follow suit. Overall, cycles, seasonality, and ongoing strength in Technology arguably argues for a bullish stance in US Equities in the weeks ahead of any possible stallout. As mentioned last week, I expect the first part of July to lead back to new all-time highs, and suspect that a broad-based rally should be forthcoming. SPX targets could materialize between 5650-5700 before any consolidation gets underway.
Overall, as Q3 gets underway, the most important message should center on sticking with large-cap Technology until sufficient proof has been shown of this sector starting to give way. Many investors seem to be using the potential for a growth slowdown coupled with the “Summer doldrums” approaching as a reason to sell stocks. However, I feel that’s quite premature. It’s important to reiterate that SPX has been positive in the month of July for nine straight years.
While a broad-based rally hasn’t yet materialized to the extent many investors might want to see, there also hasn’t been any evidence of Technology peaking out, more than just for a few days’ time.


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