I am loving the action today. It's subtle, but it is the kind of beneath the surface action that's telling.
- Bond yield higher but growth stocks act good
- Supply chain constraints but Consumer Discretionary top sector
- Lots of walls of worry and the market trying to climb them all
- Semiconductors act great
Utilities and Healthcare are laggards today as the risk on trade resumes.
S&P 500 Index | +0.19% |
|
Communication Services XLC | +0.60% |
|
Consumer Discretionary XLY | +0.88% |
|
Consumer Staples XLP | -0.36% | |
Energy XLE | +0.32% |
|
Financials XLF | +0.04% |
|
Health Care XLV | -0.70% | |
Industrials XLI | -0.01% | |
Materials XLB | +0.05% |
|
Real Estate XLRE | +0.36% |
|
Technology XLK | +0.40% |
|
Utilities XLU | -0.65% |
There were more downgrades this morning than usual, but actual sell ratings are back to pre-pandemic levels.
To see the chart, click here.
Tesla (TSLA) is one of the stocks to watch this week- big Wall Street shorts failed to jawbone the stock lower - it might be the mother of all short squeezes this week.