Tech Stocks Will Likely Decide The Direction Of S&P 500 In The Upcoming Trading Sessions
S&P 500 managed to return back above the 3400 level.” data-reactid=”20″The sell-off in tech stocks was stopped on Friday, and S&P 500 managed to return back above the 3400 level.
Today, the U.S. stock market is closed for the Labor Day holiday. Tomorrow, the direction of tech stocks will be in focus once again due to their major impact on the direction of the whole S&P 500.
The key question is whether the market will once again find itself under pressure as valuation of leading tech stocks looks generous even after the recent sell-off.
The last trading session highlighted the fact that there is plenty of money on the sidelines which is ready to be deployed once stock prices fall significantly over a short period of time.
In this light, it looks like S&P