July 11, 2023

By Nigam Arora & Dr. Natasha Arora

To gain an edge, this is what you need to know today.

Speculative Fever Builds

Please click here for a chart of S&P 500 ETF (SPY) which represents the benchmark stock market index S&P 500 (SPX).

Note the following:

• The AI frenzy driven rally in the magnificent seven stocks this year is causing a speculative fever to build.  The magnificent seven stocks are Apple (AAPL), Amazon (AMZN), Alphabet (GOOG, GOOGL), Meta (META), Microsoft (MSFT), Nvidia (NVDA), and Tesla (TSLA).
• The chart shows that the stock market is consolidating after the formation of an island that was not well developed.