Technical indicators from Oppenheimer suggest that big tech companies, especially names like Meta (META) and Tesla (TSLA), are poised to outperform in the coming months. Oppenheimer Head of Technical Analysis Ari Wald joins Catalysts to discuss this outlook. Wald emphasizes that the key positive for markets is that market breadth "remains firm," supporting higher highs throughout the end of 2024. Based on this, he believes "the bull cycle is intact," with the market positioned for continued growth into 2025. He advises buying higher growth companies, explaining, "The scarcity premium comes back against a lower growth backdrop for these names," especially within the tech-heavy Nasdaq (^IXIC). Wald elaborates on the Nasdaq’s potential: "It has underperformed since the summer, but I think through this rotational nature it is set up to lead again. It did a good job holding up support levels and so for that reason, for us, it’s growth for the long-term. I think this is a growth and tech-led secular bull, and then on a near-term basis, it’s become tactically attractive to buy that style as well."
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