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Afternoon Note

Inching Higher

By Charles Payne, CEO & Principal Analyst
11/12/2019 1:39 PM

The rally is on pause as investors watch President Trump deliver his speech at the New York Economic Club.  Trump only made short comments on trade negotiations.

Meanwhile, the consolidation phase of the rally continues. The Dow is struggling after Boeing (BA) announced its orders for 2019 which took a huge hit from the 737 Max debacle.

The stock of the session is Rockwell Automation (ROK) which blew away Wall Street consensus. 

S&P 500 Index

+0.32%

 

Communication Services (XLC)

+0.41%

 

Consumer Discretionary (XLY)

+0.07%

 

Consumer Staples (XLP)

 

-0.07%

Energy (XLE)

+0.13%

 

Financials (XLF)

+0.27%

 

Health Care (XLV)

+0.79%

 

Industrials (XLI)

+0.16%

 

Materials (XLB)

+0.38%

 

Real Estate (XLRE)

 

-0.18%

Technology (XLK)

+0.44%

 

Utilities (XLU)

+0.13%

 

Overall, I like the action and think we are setting up for a big pop higher.


 

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