Keep in mind, that despite so many things working this year, the exposure that U.S. Indexes have to American Tech stocks is off the charts.
You simply don't have any American Mega-cap Tech stocks in Europe (FEZ), which is up over 14.5% this quarter. Latin America (ILF) and Africa (AFK) are each up 13.5% this quarter. And Chinese Internet (KWEB) is up 20%.
These are historic returns to start the year. And I'm not cherry picking here. We're literally talking about every continent except North America.
Meanwhile, the S&P500, Dow Jones Industrial Average and Nasdaq100 are all down 2-5% for Q1. The Technology Sector being down 11% is helping to weigh them all down.
Keep in mind that Technology represents almost 20% of the Dow Jones Industrial Average, 32% of the S&P500 and over 51% of the Nasdaq100.
Here are America's Big 3 all below their key levels that we've outlined since 2023. These are THE key levels:
If the S&P500 is below 5600, then the risk is down to sideways.
We've only wanted to be betting on higher prices if the S&P is above that. It is not.
Same thing with 42,000 for the Dow. The risk is down to sideways if the Dow is below that:
The same level is 500 for QQQ.
And this is the worst one, closing below that key level now for 4 consecutive weeks.
It shouldn't be a surprise that the worst of the Big 3 is the one with the highest exposure to American Technology stocks.
This Tuesday is the first day of April, and that means it's the first day of Q2.
We'll be getting together in an exclusive LIVE Conference Call for Premium Members of ASC Research. Click here to get access.
There is so much working this year. It's just not American Tech. It's practically everything else.
Gold is making new all-time highs. Copper is hitting new all-time highs. Energy stocks (XLE) are up 8.7% this year and leading all U.S. sectors for 2025.
I sat down with Jason Perz this week to talk about exactly this. If you missed it, make sure to Watch the FREE replay here.
The market’s shifting fast. If you’re stuck in the wrong names, it’s time to fix that.
Click here to join us Tuesday for our Exclusive Event.
