The U.S. stock market posted its third consecutive weekly gain last week, led once again by the small-cap Russell 2000, which added 2.4% to bring its year-to-date gains to a whopping 18.6%. To put that in perspective, the next best performer is the Dow Jones Industrial Average with a 9.9% gain for the year. #-ad_banner-#Last week’s advance was broad-based with all sectors of the S&P 500 except for health care (-0.3%) finishing in positive territory. It was led by materials (2.6%) and industrials (2.3%). For the year, energy (20.6%) and industrials (18.3%) have been the best performers, while real estate… Read More
The U.S. stock market posted its third consecutive weekly gain last week, led once again by the small-cap Russell 2000, which added 2.4% to bring its year-to-date gains to a whopping 18.6%. To put that in perspective, the next best performer is the Dow Jones Industrial Average with a 9.9% gain for the year. #-ad_banner-#Last week’s advance was broad-based with all sectors of the S&P 500 except for health care (-0.3%) finishing in positive territory. It was led by materials (2.6%) and industrials (2.3%). For the year, energy (20.6%) and industrials (18.3%) have been the best performers, while real estate (-3.6%) and health care (-3.5%) are bringing up the rear. According to Asbury Research’s ETF-based metric, the biggest inflows on a percentage basis over the past week went into consumer discretionary, while the biggest outflows were from consumer staples. If this trend continues, it bodes well for upcoming relative outperformance of the consumer discretionary sector into early 2017. New Highs And Unmet Targets Are Intermediate-Term Bullish The benchmark S&P 500 broke overhead resistance at 2,194 last week, hitting new all-time highs. However, the bellwether Dow industrials, which rose 1.5% last week, are still 6.5% below my 20,400… Read More