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Afternoon Note

Unique Development

By Charles Payne, CEO & Principal Analyst
4/3/2019 1:53 PM

The Golden Cross, where the 50-day moving average climbs above the 200-day moving average, is a unique development that many consider the ultimate buy signal. But, you don’t have to be a technician to see the NASDAQ has gone parabolic, bouncing off key support and going straight up – I’m not talking rallying at an angle, but like an arrow, true north.

Message of the market

This is a compelling session that has seen the market power ahead despite a disappointing ADP jobs report.   The closer major indices get to all-time highs, the more pressure there is to be in the market.  Moreover, chatter is growing louder of a trade deal with China, and while we’ve heard it all before, this time it’s real.  LOL.

The bottom line is money is pouring off the sidelines from those mavens that missed the rally and will have a tough time missing back to back quarters of gains.  The way they are “playing” this market is chasing performance in Technology – specifically semiconductors, and seeking value, which is powering the Materials sector way ahead of the pack today.  I love both sectors and hope everyone already has exposure.

S&P 500 Index


Communication Services (XLC)


Consumer Discretionary (XLY)


Consumer Staples (XLP)


Energy (XLE)


Financials (XLF)


Health Care (XLV)


Industrials (XLI)


Materials (XLB)


Real Estate (XLRE)


Technology (XLK)


Utilities (XLU)



80% of prior revisions up cancelling headline dips.
Whats at work here? Gov / never Trumpers employees?

Donald McArthur on 4/3/2019 3:07:56 PM

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