The technology sector is looking healthy once again, Bitcoin showed something of a small surge, before retracting, and the S&P 500 hit a record high.
Bitcoin
There’s not much to add from previous weeks on Bitcoin other than it looks as if we have a new resistance point of around $35,000. This week saw a surge up to $36,500 before the price returned to around $35,000. The top 10 coins also showed similar behaviour.
Tech Stocks
Tech stocks are currently driving the S&P 500 to new highs. Microsoft hit a new record and Facebook reached $1 trillion. The social media giant has been under fire this year from many directions but looks to be back on the up after a federal judge threw out a case brought against them. Instantly the share price jumped 4.2% bumping up the year’s growth to a whopping 30%.Our current two tech positions are up almost 5%. Both PTC Inc and Cloudflare are performing as we hoped and for now we will hang onto the stock. Over the next week we will start to look at what the experts are saying about Facebook in the short term with a view to moving quickly on that stock.
S&P 500
Even though the S&P 500 is at an all-time high we still haven’t been in the position long enough to see much of a climb ourselves. A small 1.30% is still welcome, though.Much will depend on two points in the next couple of months: are fears of inflation warranted, and will tech stocks continue performing well to boost the US economy over the remainder of the year.
To recap: from a starting budget of $250 our experiment is down $37.75, with $18.50 of that from the Bitcoin crash. Not the greatest of starts but we’re learning quickly and understanding the investment landscape much better as the weeks go by.
