Top Stocks Tuesday
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1/?The King as Far as Weighting is Concerned, MSFT
I am interested in the top stocks by index weighting for a few reasons. The first is, they have been the clear leaders for some time. As such, their strength had a large bearing on how the indexes perform.?
According to Morningstar’s report on SPY’s portfolio, the biggest weight goes to Microsoft. This giant makes up 7.41% of the index.?
This chart strikes the closest resemblance to our weekly S&P chart of yesterday. A clear strong uptrend. Momentum as measured by RSI is diverging. The elder bars are green year the start to the week was a slow one.?
There is a decent distance to the 30-week moving average. On the one hand, a correction in this stock would weigh on the index. Further, with so much money in ETF’s, a lot of selling of the ETF could weigh on the stock...
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