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February 3, 2024 | Tech Talk for Saturday February 3rd 2024

Don Vialoux

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Donald Vialoux is author of the free blog Tech Talk, a daily investment report available during the past 20 years at www.timingthemarket.ca. Comments focus on the seasonal and technical outlook for equity indices, commodities and sectors. Mr. Vialoux has 53 years of experience in the investment industry and is a past president of the Canadian Society of Technical Analysts (CSTA).

The Bottom Line

Exceptional price gains on Friday by Meta Platform (Up 20.32%) and Amazon (Up 7.87%) after their release of better-than-consensus quarterly results significantly distorted performance of the S&P 500 Index relative to the Equal Weighted S&P 500 Index and its related ETF: RSP. Since December 28th the S&P 500 Index has gained 3.66%% while RSP has declined 0.13%. Results released by Meta Platforms and Amazon significantly boosted analyst earnings estimates for S&P 500 companies for the fourth quarter of 2023. Note: Analysts did not change significantly their estimates for 2024.

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February 3rd, 2024

Posted In: Tech Talk

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