S&P 500 Technology: 75% of stocks reclaim above the 200-day moving average; historical averages suggest a potential upside of up to 33.4% over the coming year
On August 14, 75% of the stocks in the S&P 500 Technology sector closed above the 200-day moving average for the first time since October 2024. This marked the first time the sector touched that threshold in 2024. The move ended a prolonged stretch of weakness lasting 219 trading days. It is the ninth-longest downturn of its kind on record. Historically, the longest such period lasted as long as 759 trading days, ending after the dot-com bubble burst on April 22, 2003. Based on historical data, after these extended periods of weakness end, the technology sector has typically risen by an average of 2.5% over the following one month, 7.3% over the next three months, 15.5% over the next six months, and a remarkable 33.4% over the next twelve months.
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🚀 $HEMI up +20.55% & testing key support near $0.00663! 👀🔥
1H timeframe showing a sharp pullback after rejecting from a 24h high of $0.00900, currently holding above 24h lows of $0.00541! Lock in your parameters:
📉 $AVAX down -4.68% & consolidating near support at $6.331! 👀🔥
1H timeframe showing a corrective pullback after rejecting from a 24h high of $6.646, holding right above the 24h low of $6.220! Lock in your parameters: