Mostly up day for stocks, Utilities under pressure from concerns of future rate increase but did rally into the close
DOW could see 21,000 buy early next week
Mostly up day for stocks, Utilities under pressure from concerns of future rate increase but did rally into the close
DOW could see 21,000 buy early next week
Mix day in market, energy was under pressure while Utilities lead market higher
Utilities shaking off talk of rate increase
We start a new week following another strong move in Biotech, breakout in financials, record highs in DOW, S&P and Nasdaq.
Only weak area is energy
More on all this in my weekly market review video
US Markets closed today, I am looking at this breakout move in the Financials, markets rarely fail when being lead higher by financials
XLF has cracked the top ten and is up 5.25% YTD
Another day of record closes in the major indexes with a lager Reit’s (RWR) leading the way up over 1.28% on the day.
All the majors have gone parabolic, and the last move in a parabolic market is for the lagging stocks to come into play and that is what we are seeing with energy, reits, and utilities
Market was lead higher by Utilities ( that is never good) weakness was in Mining, Biotech and energy
Markets are rotating out of risk and into safety as Utilities lead market higher
My weekly market review video
mostly up day for stocks lead by big move in Bio Tech
BioTech erased all of last weeks pull back in one big daily candle, Biotech is now back above its 2015 end of year close
Down day for 20 of my 22 ETF’s , only Utilities and Consumer Goods were green on the day
Does this market love Donald Trump or what, following Trump’s speech to congress, DOW gaps open higher, blows through 21,000 and is up $260 as I post this, WOW!
Huge day for the market with XME leading the way up 3% with Financials close behind. DOW closed up 300.
DOW is on course to hit 26,000 by years end,
After yesterdays big move, no surprise today we saw profit taking with only Utilities and Retail positive on the day
We start the new week with major indexes S&P, DOW and Nasdaq coming off new all time highs
Weekly market review
across the board down day with only the energy sector slightly higher, most of the gaps from last Wednesday have now been filled,
Another down day for the markets, lead lower by XME and Energy had a very bearish daily engulfing candle, Only two sectors Tech and Semiconductors saw slight gains
Note; I added a column " % Change" this is the daily change, while Pos-% is the YTD change
Most sectors up today lead by front runner XBI , with the two weakest sectors XLE and XOP today’s biggest losers
Market sold off into the close and my last post missed those moves, here is an update for final number of the day