Today’s session has shifted back into cautious optimism mode. As such, investors are rushing back to growth stocks where they believe they have upside potential and strong support levels.
The action has the NASDAQ rocking and the S&P 500 mostly marking time above the plus/minus line.
I keep saying, the Dow Jones Industrial Average is not the stock market, and there is more proof today with the major swoon in Cisco (CSCO), which should have made a fortune with its WebEx video conference business. It’s a shame, but that company hasn’t been the same since John Chambers got too wishy washy after the crash.
S&P 500 Index
Communication Services XLC
Consumer Discretionary XLY
Consumer Staples XLP
Health Care XLV
Real Estate XLRE