Pai 🌲|May 29, 2026 14:23
This week, the US stock market has one word: up. Two words: Technological growth.
SPX opened today with a peak of 7598, which is a fraction of its historical high. NASDAQ 27088 is also near a new high. The strongest is the technology sector XLK, which opened with a 2.48% increase in half an hour.
To be honest, I'm a bit confused. A month ago, everyone was discussing whether there would be a pullback, but now they are at a new high discussing whether it can continue next week.
Energy was the only one injured this week. XLE fell 1.22% today, oil prices are falling, and money is moving from the old economy to AI and semiconductors. This week's sector rotation has been almost one-sided.
Next week, I will focus on two things. Firstly, can this wave of technology spread to finance (XLF has remained stagnant this week). Secondly, will anyone run first after reaching a new historical high.
I haven't finished telling the story of AI yet, but I always keep a watchful eye on the market after reaching a new high.
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