Why investors should look beyond the Reddit army to these ASX fundamentals

If ever there was a good reminder to look beyond the noise of daily ASX share price swings, the past few days have delivered it.

Volatility returned with a vengeance to global share markets. And the S&P/ASX 200 Index (ASX: XJO) was no exception.

From last Wednesday, 27 January, through to yesterday’s late morning low the ASX 200 fell 4.4%. Since then it’s gained 3.4%, including today’s 1.3% intraday rise.

Just as in US markets, where the tech heavy Nasdaq Composite (NASDAQ: .IXIC) index led the charge higher (gaining 2.6% Monday), ASX tech shares are again outperforming.

At time of writing, the S&P/ASX All Technology Index (ASX: XTX) – which tracks 50 of Australia’s leading and emerging technology shares – is up…