Investors Shift Gears: Tech Takes a Backseat

Investors are changing their strategies. They are moving away from tech stocks. Instead, they are looking at other areas like banks, factories, and healthcare. This shift is clear in the stock market. The tech-heavy Nasdaq Composite had a tough week. It dropped by 1. 6%. The S&P 500 also fell by 0. 6%. But the Dow Jones Industrial Average did better. It went up by 1. 1%. A tool called the 14-day relative strength index (RSI) helps spot overbought stocks. These are stocks that might be due for a break. Stocks with an RSI above 70 are considered overbought. This week, no stocks were oversold, meaning none had an RSI below 30. Some stocks stood out as overbought. M&T Bank was one of them. It has an RSI of 81. The bank did well after the Federal Reserve cut interest rates. But not all analysts are bullish on M&T. Morgan Stanley downgraded it. They think there are better opportunities elsewhere. However, other stocks like J. B. Hunt Transport Services and KKR & Co. got upgrades. This might have helped their stock prices rise. Investors are looking for value. They are moving away from tech. This shift shows a change in market sentiment. It's important to watch these trends. They can give clues about where the market is headed.