All major U.S. indices essentially finished unchanged last week, except for the small-cap Russell 2000, which lost 1.3%. All major indices are still negative for the year except for the broad market S&P 500, which is up less than 1%. #-ad_banner-#Utilities were the strongest sector last week, up 1.9%. Technology was the weakest, down 0.8%. In the March 31 Market Outlook, I said that my own metric showed investor assets most aggressively moved into energy and consumer staples, and out of health care. Energy and consumer staples have been the first and third strongest sectors since then, up 4.2% and… Read More
All major U.S. indices essentially finished unchanged last week, except for the small-cap Russell 2000, which lost 1.3%. All major indices are still negative for the year except for the broad market S&P 500, which is up less than 1%. #-ad_banner-#Utilities were the strongest sector last week, up 1.9%. Technology was the weakest, down 0.8%. In the March 31 Market Outlook, I said that my own metric showed investor assets most aggressively moved into energy and consumer staples, and out of health care. Energy and consumer staples have been the first and third strongest sectors since then, up 4.2% and 1.9% respectively, while health care has been among the weakest, down 1.4%. Last week, my metric showed that investor assets have most aggressively moved into industrials and out of consumer discretionary. It’s Sink or Swim Time for Market-Leading Nasdaq 100 In last week’s report, I pointed out an important band of overhead resistance in the Nasdaq 100, from 3,575 to 3,626, and said that this was where the mid-April rebound in the index should fail if it was just a minor rebound within an uncompleted March decline. The chart below shows that the index traded… Read More