Equity markets, particularly in the US have extended their recent gains to new all-time highs but it’s increasingly starting to feel like bulls are grasping at straws to keep the party going. To illustrate this battle, in this edition of Equity Leaders Weekly, we look recent weakness in the Technology sector and developments in China sensitive markets, which underpins this new leadership.
Back in February, Disney climbed up out of the Red Unfavored Zone of the SIA S&P 100 Index Report, moving back into the yellow zone for the first time in three years. The shares were unable, however, to continue their trend up into the green zone. In recent weeks, their relative strength has weakened again and DIS has tumbled back down into the Red Unfavored Zone.
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