It was a week for the cyclical stocks. Energy (XLE), Financials (XLF), Materials (XLB), and Industrials (XLI) were the only sectors to close the week with gains.
That was not the case for the entire week. Communication Services (XLC) started the week with gains but faded in the last two days.
Utilities (XLU) had one day as the leading sector on Thursday, but...
Energy (XLE) was back on top for the first week of February. The sector benefited from higher than expected demand in oil that also raise crude oil prices throughout the week.
Technology (XLK) started the week in the lead, having a strong Monday. The Consumer Discretionary (XLY) took the lead on Tuesday. Financials (XLF) briefly moved to the top spot on...
Energy (XLE) led for a second week in a row as crude oil prices continue to rise and optimism for economic recovery to bring demand back to oil and gas as transportation, travel and leisure sectors bounce back.
Technology (XLK) and Health (XLV) led for Thursday as Energy pulled back for a day. However, Energy bounced back up to the week's highs on...
Real Estate (XLRE) and Utilities (XLU) are the top sectors for the week. Ouch!
None of the sectors ended the week with gains as the S&P 500 pulled back -3.31%.
Utilities led as the market opened on Monday morning. Communications (XLC) took a very brief lead on Tuesday, but the Real Estate took the top spot.
Consumer Staples (XLP) attempted to take the lead on...
Communications (XLC) led the week with a big +5.44% gain, but only after a big pullback the week prior. The sector was led by Alphabet (GOOGL) and Facebook (FB) with +9.55% and +9.21% gains respectively. Those two companies make up 44% of the ETF. Netflix (NFLX) also had a huge gain of +13.49% but only represents 5% of the ETF.
Technology (XLK) finished the week...
Taking a look back at XLE we can see that the ETF has returned to test the area of breach of the symmetrical triangle (or the current support of the descending trend line). Pick up in volume shows that the activity has risen and market participants are getting excited. A breach was made a classical follow-up test was made. Currently, we are sitting at the support...
The sectors had a wild race this week with the backdrop of a up and down market with several rotations between small caps, mid caps and large caps.
Energy (XLE) would ultimately be the winner, supported by production cuts in Saudi Arabia, higher than expected demand for oil, and some positive news from OPEC. There was a significant pullback on Friday after SEC...
Overbought, PMI, Bonds, and overblown optimism = a simple short setup. First target is 350, main target is 325 area. I see room up but nothing over 400. Cheers.
Energy (XLE) finds itself back at the top of the sector list for the first week of 2021. It's not something you might expect as the blue wave hit US politics, which doesn't bode well for traditional energy stocks. However, crude oil is over $50 a barrel for the first time since April after Saudi Arabia surprisingly cut output.
The blue wave did have some expected...
I normally publish this chart on weekly basis as part of my Week in Review work but I thought it was interesting to look at it today, in the context of the Georgia run-off election results. There is also the turmoil in DC, but that did not seem to impact the sector leaders list (the afternoon dip impacted all equally).
Energy (XLE) is leading over the two days,...
Communications (XLC) and Consumer Discretionary (XLY) spent about half the week each at the top of the sector list.
But it was Utilities (XLU) that would rise at the end of the week as the winner. No doubt a defensive play going into the long weekend and a turn of the clock to a new year.
Energy (XLE) had a very short-lived time at that top on Monday morning,...
The short trading week was not without its excitement.
Financials (XLF) was the big winner of the week. The fed stress test last week resulted in banks being allowed to resume share buy bank programs, giving some tailwinds to the sector.
Technology (XLK) took the lead on Tuesday, but fell back into second place at the open on Wednesday.
All other sectors...
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...
Despite starting the week in last place, Energy (XLE) rose to the top of the sector list starting from Tuesday as the first vaccine doses were made available in the UK. That positive vaccine news boosted the sector that is likely to benefit from the increased activity in travel and leisure sectors.
Communications (XLC) led at the beginning of the week, but could...
Energy ( XLE ) is now in its fourth week of leading the sectors list. It didn't look that way at the beginning of the week when it sold off off sharply amongst disagreements between OPEC members on future oil production. It rose back to the lead as those talks began getting better on Wednesday and OPEC finally had agreement on Friday.
Technology ( XLK ) and...
Energy (XLE) put in a third week of huge gains and topped the other sectors. The sector is up over 40% in the last three weeks. It did pull back a bit on Wed and Fri.
Financials (XLF) also sticks out as a winner for the week, far above the rest of the sectors.
The worst performing sectors were Real Estate (XLRE) and Utilities (XLU). Utilities briefly emerged as...
