Gene Peroni's Daily Podcast Gene Peroni

The recent sharp and sudden downturn in AI stocks and technology generally, I think really illustrates, and underscores, the underlying technical strengths of this market… 

The beauty of the stock market runs more than just skin deep. Last week the S&P 500 posted its best weekly performance since last November. 

This has been another week of expansive intraday trading swings for the stock market, but we have seen a more resilient tone. I think that resilient tone is significant… 

Yesterday’s market had a different feel to it, a better feel. There seemed to be a renewal of some degree of resiliency, and we saw that early on in the session. 

Last Friday’s session presented a glass half full scenario, at least from my perspective. I say that because the overall market held up relatively well given the big selling pressure in AI stocks and technology generally. 

It has been a challenging week for stocks. On the surface perhaps, we could attribute this to a consolidation, probably somewhat overdue…