Posted 1/19/2024, 9:19:00 AM
Commodities Slump Signals Persistent Bull Market, But Tech Struggles Could Spell Trouble for Amazon
- Commodities to S&P 500 ratio declining in 2023 confirms persistent bullish market, but possible recovery signals trend change
- Strengthening dollar signals possible detriment to bulls; level above 102 is key watershed
- Amazon stock underperformed S&P 500 last 5 years despite +80% return; longest time between all-time highs
- AWS growth slowing due to competition from Microsoft and Google
- Amazon aims to leverage advertising to boost stock, but technical analysis shows resistance at $157 and possible decline