Playback speed
Share post
Share post at current time

The Monday Morning Playbook: Week of February 26, 2024

Nvidia delivers + all about the Dow

Good morning,

There was only one event that mattered last week and thankfully for the bulls, Nvidia delivered.

After a sell-off going into earnings, the stock powered to the largest market cap gain in stock market history and a new all-time high.

That’s good for semiconductors and the A.I. trade, that’s good for the tech sector, and, if you compare the charts, you might think it is the only thing that matters for the S&P 500.

And with both ending last week at 52-week highs, I do think the case for underweighting equities is very weak.

But all the focus on Nvidia is taking away from another story:

Watch with a 7-day free trial

Subscribe to Brown Technical Insights to watch this video and get 7 days of free access to the full post archives.

Brown Technical Insights
Brown Technical Insights
Scott Brown, CMT