{"id":22961,"date":"2023-09-28T17:00:41","date_gmt":"2023-09-28T17:00:41","guid":{"rendered":"https:\/\/isafespend.com\/personal-finance\/wealth\/tech-stocks-are-down-for-september-but-small-caps-are-way-down\/"},"modified":"2023-09-28T17:00:42","modified_gmt":"2023-09-28T17:00:42","slug":"tech-stocks-are-down-for-september-but-small-caps-are-way-down","status":"publish","type":"post","link":"https:\/\/isafespend.com\/?p=22961","title":{"rendered":"Tech Stocks Are Down For September But Small Caps Are Way Down"},"content":{"rendered":"
\n

Most stocks tend to move together but recent action in the tech sector versus small caps is remarkable: the NASDAQ
\n NDAQ
\n <\/fbs-ticker>-100 spent the month of September in a downtrend but it\u2019s nothing compared to the drop off in price for the Russell 2000, the index that represents smaller capitalization names.<\/p>\n

The evidence from the price charts is clear that the market as a whole has weakened much more than the closely followed tech and social media stocks. As representative of the overall economy, this divergence of the 2 sectors is worth studying. Generally, it would be a better look if the small caps fell at a less dramatic rate.<\/p>\n

This is the daily price chart for the NASDAQ-100:<\/p>\n

The popular index containing the big tech and social media stocks peaked in mid-July at 15800 and this week hit 14500, for a drop of 8.2%. The 50-day moving average (the blue line) has turned over and is heading down now but the index remains well above its 200-day moving average (the red line).<\/p>\n

<\/fbs-ad><\/p>\n

Compare this to the daily price chart for the iShares Russell 2000 ETF, right here:<\/p>\n

This small cap benchmark peaked in late July at $198 and fell this week to just above $174. That\u2019s droppage of 12% from the high to the low. Note that the 50-day moving average has clearly bent back downward and that the price is now trading below the 200-day moving average.<\/p>\n

The weekly price chart for the NASDAQ-100 index is here:<\/p>\n

The view from this longer-term shows a substantial rally from late last year to the present \u2014 but, so far, the tech-heavy index is unable to make it higher than those late 2021 highs. It\u2019s a positive that both of the significant moving averages continue to trend upward.<\/p>\n

Th weekly price chart for the iShares Russell 2000 ETF looks like this:<\/p>\n

So, the small caps peaked in late 2021 and since then have not shown enough strength to take prices to even near that level again. The last 2 weeks of September have taken the benchmark to below both the 50-day moving average and the 200-day moving average, generally a bearish kind of sign.<\/p>\n

The big tech and social media stocks get a lot of coverage in the financial media \u2014 it\u2019s important to note that at least one less followed sector is not keeping up.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Most stocks tend to move together but recent action in the tech sector versus small caps is remarkable: the NASDAQ NDAQ -100 spent the month of September in a downtrend but it\u2019s nothing compared to the drop off in price for the Russell 2000, the index that represents smaller capitalization names. The evidence from the<\/p>\n","protected":false},"author":1,"featured_media":22962,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[57],"tags":[],"class_list":{"0":"post-22961","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-wealth"},"yoast_head":"\nTech Stocks Are Down For September But Small Caps Are Way Down | iSafeSpend<\/title>\n<meta name=\"description\" content=\"Most stocks tend to move together but recent action in the tech sector versus small caps is remarkable: the NASDAQ NDAQ -100 spent the month of September\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/isafespend.com\/?p=22961\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" 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