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S&P 500, FAANG Earnings, & Delta Variant - YouTube
Channel: TD Ameritrade Network
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let's continue our conversation let's go
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back to stocks as we head into the
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closing bell we've got about seven
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minutes
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left michael robinson joins us chief
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technology strategist at money map
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press michael good afternoon what stands
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out to you in a market where dips
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continue to get
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bought but mostly for tech the russell
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is still lagging even after a nice
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bounce today we're right back to the
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same place we've been for months
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well you bring up an interesting point
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there's been quite a divergence in the
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market big tech has been doing well and
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the calling is the summer of big tech
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part of that is you have 20 billion
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dollars in new cash moving to the market
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in june
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and you have uh many millions of new
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investors in the market and they're
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going for the big famous names so
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there's been a bit of a
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flight to safety and there's a concern
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your previous guest was talking about
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inflation i think
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most of that now as we're seeing in
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today's actions probably
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priced into the market but there's a
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sense that
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small caps could have more difficulty in
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inflation in terms of raising prices to
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keep their margins then can
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say on microsoft or an amazon or
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somebody like a facebook that has
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huge power in the market where the small
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caps really don't have that kind of
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massive reach i mean you know microsoft
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is now a two trillion dollar company
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and it's sitting near the highs but
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these big tech companies might have
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slowed the roll a little bit
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since earnings should we be concerned
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that we haven't made records since they
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reported uh pretty incredible numbers
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no i don't think so i mean i i've been
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keeping an eye on it like you just
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wondering you know
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what does the slowdown mean and it could
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mean that we are seeing
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you know since the russell 2000 hit
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bottom here recently it has come back
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fairly nicely
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it keeps trying to hit breakthrough
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right now
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the 50-day line instead of being support
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is resistance for small caps as a group
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on the russell 2000
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and so i think we're seeing we might be
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seeing a shift a little bit out of these
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famous names that the new investors grab
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right away and the looks for the next
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market leaders that's kind of what's
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going on right now and selling if you're
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sailboat racer we call this slack water
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what does that mean i'm not a sailor
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i mean if you don't have a strong
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current either way or another the market
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as i i've been saying for the last
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several weeks the market's really
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looking for direction now you can't
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extrapolate from one day today
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that we have found the solid footing but
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what is good what is really good news
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for the market overall and for the bulls
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they're not exhausted yet is
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every time the 50-day line has hit
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i'm sorry every time the s p is at the
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50-day line we've seen some big
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backs so what that means is people are
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still hungry to make
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money they're making their adjustments
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but
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the bulls are still pretty much in
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control of this market
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bowl's pretty much in control mike where
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do you think is the safest place to be
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long in this market
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well there's just i i really like
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technology there's
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i mean it saved america we've seen
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nothing like it
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uh since the since the recovery of 2009
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when stocks came back
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uh the the um tech has led the s led the
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market higher
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always leads the market lower but that's
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where you want to be right now that's
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where you can consistently
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find really high growth names in really
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expansive markets
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markets some of which hardly existed 10
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years ago we've had steel for decades
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social network is still fairly new
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phenomenon as is e-commerce
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in terms of like the build out in the
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last five to ten years has been pretty
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enormous
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now mike tech saved the market but uh
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the medicine companies and the
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pharma stocks saved us we've got modern
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earnings coming up
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pfizer we're just talking about today is
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finally getting some appreciation by
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traders
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breaking out big time highest in multi
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decades
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are those trades ones that can last do
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you think we've got potential here for
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another resurgence of the vaccine makers
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yeah i really i really do but it's going
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to depend on what's i mean the cdc is
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talking about
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masking we're still now talking about
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boosters i mean if they if they want to
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so i got the moderna vaccine and i'm
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ready for the booster they
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say that they suggest a booster i'll be
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at the front of the line i actually
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volunteered to be in a clinical study
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so i do think those have some long term
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what we have to do now is get rid of
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what i call the short hitters the people
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who sort of plied in
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you know i'm sorry plowed in on the
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vaccine news
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months ago and then got out but thinking
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it was all over but i don't think this
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cove
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i mean we still have a huge amount of
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the world's population remains
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completely unvaccinated and moderna you
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just mentioned
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moderna here uh they're getting new
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supply agreements in
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taiwan uh a couple of other markets
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they're getting uh
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a clinical uh trial started in india so
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they've got a lot of global momentum and
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that's the next phase for them not just
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what's happened united states but what's
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happening in europe latin america and
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asia
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also africa is largely unvaccinated
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there's still
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a lot of opportunity really for the next
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18 months to two years
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mike really like the thoughts clear
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cogent
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view here of how the market's
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functioning appreciate you taking us to
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the closing bell
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thanks for having me yes sir michael
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robinson is the chief technology
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strategist
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at money map press
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you
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