The S&P 500 was dominated by three growth sectors for the week, finishing the week with a big 2.71% gain and another new all-time high. Technology (XLK) finished the week as the top sector, taking the top spot on Thursday and Friday as big tech companies solidified breakouts from their recent consolidations. Likewise, Consumer Discretionary (XLY) and...
Communications (XLC) did not top the sector list for a single day, but it's steady gains throughout the week put it at the top of the weekly chart. Utilities (XLU) started the week on top. Investors were nervous on Monday about the lasting impact of the Suez Canal blockage and whether a $20b fire sale of Archegos investments would grow or even expand to other...
There were several change of winners and losers during a week that ended with the S&P 500 at a record close. Technology (XLK) led for the first two days of the week, was sold off heavily on Wednesday and Thursday, but then ended the week with a huge gain on Friday, putting it in third place. Utilities (XLU) took over the top spot on Thursday as investors became...
Inflation, yields and the fed, oh my! The sectors were all over the place this week, all driven by nervousness about an overheating economy and how the fed might react. Monday started the week with the defensive sector Utilities (XLU) at the top. On Tuesday, Retail sales data for February showed the economy wasn't overheating and inflation may not be on the...
It was a wild week for the sectors as investors rotated in and out of Technology and Communications stocks. All sectors ended the week with gains. Consumer Discretionary (XLY) was the big winner. Large stimulus checks will be delivered soon that are expected to be poured into the economy via consumer spending on both needs and wants. Technology (XLK) and...
If you kept your eyes only on big tech and growth stocks, you might have missed that many sectors had fairly good advances this week. The sector chart supports the thesis that there is an outsized rotation in progress that is presenting as a correction, but that there is still a level of support in the broader equities market. The top two sectors, Energy (XLE)...
Here is a video breakdown on $SPY going into the first week of March! Futures are currently green but can it hold up?
It's a good week to take a close look at the sectors and see how the market moved around during pullbacks in the major indexes. Energy (XLE) and Financials (XLF) were joined at the hip, finding themselves at the top of the sector list on Monday and Wednesday and at the bottom of the list on Friday. However the days spent at the top were enough to allow them to...
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) 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...
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...
Video breakdown on $SPY going into 2/3!
Video breakdown going into the first week of February!
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.