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Afternoon Note

Caution in the Air

By Charles Payne, CEO & Principal Analyst
10/17/2019 1:39 PM

The market is meandering, but the bias is still to the upside.  There is lots of news and movement on big issues, but there is not a lot of resolutions. Moreover, the bears are making a stand, as major indices get less than one percent away from new all-time high points.

Weed stocks are intriguing on the one-year anniversary of legalization in Canada.  They came out the gate strong but are fading.  These stocks have gone up in smoke, and at some point, they will be buys.  For now, I think they are trades. 

Overall, the market is doing better than the stalled moves in the indices would suggest, but there is caution is the air.

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)





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