The market is answering many questions and maybe more prayers with today's strong rebound. This does add to the notion there will be more volatility, as the street keeps looking for confirmation from the Fed that accommodation isn't going away anytime soon (like never).
The fear index, VIX, is retreating quickly, but I will not feel 100% sure about the next leg up until all the major equity indices are at new 52-week highs.
I'm thrilled Industrials and Materials are higher, even if it's coming at the expense of Technology and Communication Services. That's cool - what everyone understands about those growth names is when they get hot, they sizzle.
Energy is the best performing sector- I wrote about this in the morning...a close above $75.00 would be monumental.
All S&P 500 are in the green.
S&P 500 Index | +1.18% |
Communication Services XLC | +0.73% |
Consumer Discretionary XLY | +0.81% |
Consumer Staples XLP | +0.77% |
Energy XLE | +3.30% |
Financials XLF | +1.89% |
Health Care XLV | +1.23% |
Industrials XLI | +1.87% |
Materials XLB | +1.94% |
Real Estate XLRE | +1.72% |
Technology XLK | +0.82% |
Utilities XLU | +1.41% |
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