Higher-momentum stocks will continue to show relative strength in the market - Oppenheimer
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 03 2024
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Source: SeekingAlpha
- Lower-momentum stocks in Dow Jones: Have been weighing on the market significantly since the beginning of the year, according to an Oppenheimer Technical Analysis report.
- Underperformance in value: Particularly notable in the defensive value sector, seen as a positive for the cycle by analysts.
- Analysts' perspective: Bull case is for low-momentum stocks to catch up with high-momentum stocks, with momentum factor expected to remain strong during S&P's correction.
- Market trends: Nasdaq, S&P, and Dow experienced falls, while yields also declined; mixed performance observed as more economic data is awaited.
- Additional insights: The balancing act towards a soft landing, potential surprises from massive data dumps, and focus on manufacturing and construction sectors in weekly indicators.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
