From Nasdaq:

In the first three weeks of 2024, the technology-related stocks have led the markets. The S&P 500 rose +1.17% last week, with the Communications sector rising +1.38%, and the Information Technology sector rising +4.13%. The average S&P 500 stock is down this year, but its largest components continue to carry the index higher.
According to Canterbury’s Volatility-Weighted-Relative-Strength indicator, only three sectors have a higher risk-adjusted ranking than the S&P 500. The index has been carried higher by these three sectors more than others.
Amazon is the largest stock in the Consumer Discretionary sector and has rallied after breaking through the resistance level. Technology stocks will determine how far the markets go this year, as the Information Technology sector is more than double the size of the next largest sector.
The Canterbury Portfolio Thermostat holds a diversified portfolio of stocks and Exchange Traded Funds from various sectors, including leading sectors in technology. The Thermostat also holds some inverse positions in weaker areas, such as Emerging Markets, to reduce risk when markets are volatile. The Portfolio Thermostat is an adaptive portfolio management strategy designed to move with ever-changing market conditions and maintain stable volatility.



Read more: So Goes Technology, So Goes the Market