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So says TME.
The Tech Reset
Tech has bounced, but the reset beneath the surface remains extreme. Positioning has collapsed just as earnings revisions keep moving higher, semis still lag fundamentals and volatility has become materially cheaper. With NDX parked below 30k, the next break could matter. Time to revisit the upside.
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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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