Markets are higher, but the prints from major indices are not telling the real story. While those retail investor favorites are rocking, and consumer discretionary names lead the way, there are pockets of weakness, as four sectors are in the red.
S&P 500 Index
Communication Services XLC
Consumer Discretionary XLY
Consumer Staples XLP
Health Care XLV
Real Estate XLRE
Commodities are pulling back, and oil is struggling even after big drawdowns that exceeded expectations. The question is whether commodities have peaked, as bond yields keep edging lower.
There are lots of key resistance points coming up – I’ll discuss on the morning hotline.
Blood Moon and Making Money
If you missed the blood moon, don’t fret, I missed it, too. The second-best thing is to try and make some money in the greatest money making machine in history – the stock market.