The sectors took on a character we have not seen for some time.
Technology (XLK) is back to leading the sectors for this week. Helped by a number of breakouts in technology growth stocks, some of those fueled by speculation in security stocks following a wide and troublesome security breach that impacted both the government and private sector.
Consumer Discretionary (XLY) came in second, after very briefly passing Technology on Wednesday morning. Retail Sales data and Santa Claus are likely the reasons for the great performance.
Materials (XLB) also performed well on Building Permits and New Housing Starts data that came in better than expected.
The big loser for the week was Energy (XLE). This is after five weeks of leading the sector list. Despite vaccine availability and positive oil prices giving it a boost midweek, the nervous sentiment caused by new lockdowns worldwide have put downward price pressure on the sector.
Technology (XLK) is back to leading the sectors for this week. Helped by a number of breakouts in technology growth stocks, some of those fueled by speculation in security stocks following a wide and troublesome security breach that impacted both the government and private sector.
Consumer Discretionary (XLY) came in second, after very briefly passing Technology on Wednesday morning. Retail Sales data and Santa Claus are likely the reasons for the great performance.
Materials (XLB) also performed well on Building Permits and New Housing Starts data that came in better than expected.
The big loser for the week was Energy (XLE). This is after five weeks of leading the sector list. Despite vaccine availability and positive oil prices giving it a boost midweek, the nervous sentiment caused by new lockdowns worldwide have put downward price pressure on the sector.
