Cross-Asset Strategist & Quantitative Analyst, Pennock Idea Hub

Cam Hui

Cross-Asset Strategist & Quantitative Analyst

Pennock Idea Hub

We are creators of independent equity research. The Pennock Idea Hub team are veterans of the investment industry. Much of our team has spent their careers at Merrill Lynch, Deutsche Bank, RBC Capital Markets and Wood Gundy. We have taken every aspect of research back to the studs and returned to first principles. The Pennock Idea Hub marries the interests of the sell and buy side. 

We offer the best research for institutional investors by:

-Only publishing research from veteran analysts
-Eliminate the inherent conflicts of the traditional sell and buy side relationship
-Ensure our team is always accessible; collaboration with clients nurtures our collective success

Cross-Asset & Quantitative Research

Technical Analysis

Technology Select Sector SPDR / Technical Analysis

<ul>
<li>Big Tech has been lagging the market since February and the relative performance reset is nearing an end. The overall stock market is undergoing a bottoming process.</li>
<li>Investment-Oriented accounts should be accumulating positions at these levels, but should be prepared for some near-term choppiness.</li>
<li>Tactically, we are inclined to overweight value over growth stocks for short-term performance.</li>
</ul>


Big Tech has been lagging the market since February and the relative performance reset is nearing an end. The overall stock market is undergoing a bottoming process.
Investment-Oriented accounts should be accumulating positions at these levels, but should be prepared for some near-term choppiness.
Tactically, we are inclined to overweight value over growth stocks for short-term performance.


<ul>
<li>Nvidia blew the doors off Street expectations last week, but the market reacted with semiconductor stocks turning red on the day. Is the relief rally over?</li>
<li>We conclude from our review of technical conditions that while breadth indicators argue for a deeper correction, that day may not have arrived just yet.</li>
<li>Sentiment is too bearish and should put a floor on stock prices in the short term. The relief rally probably has further room to run.</li>
</ul>


Nvidia blew the doors off Street expectations last week, but the market reacted with semiconductor stocks turning red on the day. Is the relief rally over?
We conclude from our review of technical conditions that while breadth indicators argue for a deeper correction, that day may not have arrived just yet.
Sentiment is too bearish and should put a floor on stock prices in the short term. The relief rally probably has further room to run.


<ul>
<li>The adoption of AI promises to be highly disruptive and has to potential to improve profitability of companies that adopt the technology.</li>
<li>It faces regulatory hurdles and risk-pricing challenges as insurance companies learn to price AI risk, but those problems are a few years away.</li>
<li>In the near term, the technology rally appears extended and may need a breather.</li>
</ul>


The adoption of AI promises to be highly disruptive and has to potential to improve profitability of companies that adopt the technology.
It faces regulatory hurdles and risk-pricing challenges as insurance companies learn to price AI risk, but those problems are a few years away.
In the near term, the technology rally appears extended and may need a breather.


<ul>
<li>Can the AI frenzy, which appears to be in its early stages, carry the stock market to a new bull? An academic study indicates that's the wrong question to ask.</li>
<li>The right question is to determine whether we are in an equity bull so that AI stocks can take advantage of the bull trend. Breadth needs to broaden out.</li>
<li>The other and more conventional explanation of market structure is an unhealthy advance against a backdrop of a market that’s positioning for a recession.</li>
</ul>


Can the AI frenzy, which appears to be in its early stages, carry the stock market to a new bull? An academic study indicates that's the wrong question to ask.
The right question is to determine whether we are in an equity bull so that AI stocks can take advantage of the bull trend. Breadth needs to broaden out.
The other and more conventional explanation of market structure is an unhealthy advance against a backdrop of a market that’s positioning for a recession.


Can AI Stocks Lead the Market to a New Bull?

Stock Picking & Investing, BluSuit

BluSuit

Stock Picking & Investing

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Equity Bottom-Up

<ul><li>Listening to sentiment alone would lead investors to believe we are 50% down on the S&amp;P 500 and we have another 50% to go.</li><li>But, this simply is not true. When benchmarking the markets recent price action by sector, this bear market, on a technical basis, has the hall marks of every market bottom since 2000.</li><li>Recollecting Howard Marks book, “Mastering the Market Cycle”, there was a particular part that was of importance.</li></ul>

Listening to sentiment alone would lead investors to believe we are 50% down on the S&amp;P 500 and we have another 50% to go.But, this simply is not true. When benchmarking the markets recent price action by sector, this bear market, on a technical basis, has the hall marks of every market bottom since 2000.Recollecting Howard Marks book, “Mastering the Market Cycle”, there was a particular part that was of importance.

United States

Technology Select Sector SPDR Fund is an exchange-traded fund incorporated in the USA. The ETF tracks the performance of The Technology Select Sector Index. The ETF holds large and mid-cap technology stocks. Its largest investment allocation is in the United States. The ETF weights the holdings using a market capitalization methodology.

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Technology Select Sector SPDR (XLK US)

Time to Tiptoe Back Into Big Tech?

Big Tech has been lagging the market since February and the relative performance reset is nearing an end. The overall stock market is undergoing a...

Cam Hui

Is the Relief Rally Over?

Nvidia blew the doors off Street expectations last week, but the market reacted with semiconductor stocks turning red on the day. Is the relief...

Cam Hui

A Focus on AI and Technology Stocks

The adoption of AI promises to be highly disruptive and has to potential to improve profitability, bu faces regulatory hurdles and risk-pricing...

Cam Hui

Can AI Stocks Lead the Market to a New Bull?

Can the AI frenzy, which appears to be in its early stages, carry the stock market to a new bull? An academic study indicates that's the wrong...

Cam Hui

We are Not Crashing, It's Just Volatile

When benchmarking the markets recent price action by sector, this bear market, on a technical basis, has the hall marks of every market bottom...

BluSuit

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