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The Market Ear with tech extreme greed.
Stretched tech desperate for a pullback
The hottest stuff, NYFANG, has become very overbought. Yes, we can remain in overbought territory for long periods of time, but current levels have not been “sustainable”, at least not in the short term. Chasing hot tech here is starting to look like a very late trade.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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