Tech Stocks Climb the Wall of Worry
From a macro perspective, investors have deep-rooted concerns about thecurrent stock market including a potential looming recession, stubborn inflation, a debt crisis, geopolitical escalations, and more. Small-cap stocks within the Russell 2000 Index ETF (IWM) have dragged as regional banking stocks within the SPDR Regional Bank ETF (KRE) continue to struggle.
However, despite the fear-mongering from many investors and the underperformance in some regions of the market, tech has marched higher in a stair-stepping fashion thus far in 2023. Currently, it is in the process of breaking out.
Image Source: Zacks Investment Research
Despite a rough period of outperformance in 2022, it’s easy to…
