3 min readJun 1, 2023


June 1, 2023–The 10 Trillion Dollar Market cap of 7 Big Tech = Toppish?

Nobody wants to look at the markets because plenty of stocks are trading at new lows, or just hanging thinly traded at 3 year supports while the BigTech still trades at all time highs if not 52 week highs. Let’s take a look on the sectors:

$XLK — V Shape Rally? due to AI wave?

$XLY — Still downtrend though looking to break 156?

$XLC — Retracement recovery but still weak at the 38.2% Fibonacci (still below 50%)

Year to date performance from S&P500 shows the sector’s winners mostly hailed from Tech, Communications, consumer cyclicals, Semiconductors, Software applications. The rest are particularly weak with the capital markets primarily financials bleeding the most.

$XLF Financials still teetering to lower lows

$XLP Lower and Testing Prior supports in March 2023

$XLE Energy and $XLB Materials both teetering to March’23 lows

$XLRE Real Estate Weak Trading at 2021 levels

$XLV Healthcare and $XLI Industrials Also trading at 2021 and 2022 and 2023 support levels

$XLU Utilities also just barely at support

Courtesy from Bespoke Invest




I’ve been trading stocks for awhile but understandably I’m likely to trade or invest for the rest of my life. Here’s my way of thinking about things