S&P 500 Oversold While Nearly Half Its Stocks Stay Overbought — SkimNews
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- S&P 500 tumbled into deeply oversold territory even as nearly half of its constituent stocks remained decidedly overbought, a split described as historic
- Big Tech sways the market as a Wall Street veteran calls the stock-chart setup among the most unbelievable he has seen
Why it matters: For investors, a deeply oversold S&P 500 masks nearly half of its constituents remaining overbought, so the 'washed-out market' read on the index does not describe the typical stock inside it. Big Tech is named as the force swaying the market, which is where the two halves come apart.
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