Afternoon Note
The market has been in a holding pattern after the three-day break, as investors are looking for a catalyst to restart the rally. The good news is, there is no panic, but there is some growing angst.
The biggest issue continues to be valuation, as few can quibble with the strength of the underlying economy; although, I think it’s reigniting. Earnings are expected to grow dramatically throughout the year, so it’s critical companies have the confidence to offer strong guidance.
Meanwhile, technology keeps rocking.
S&P 500 Index |
-0.03% |
|
Communication Services (XLC) |
-0.04% |
|
Consumer Discretionary (XLY) |
-0.23% |
|
Consumer Staples (XLP) |
-0.06% |
|
Energy (XLE) |
-1.01% |
|
Financials (XLF) |
-0.13% |
|
Health Care (XLV) |
+0.15% |
|
Industrials (XLI) |
-0.53% |
|
Materials (XLB) |
-0.62% |
|
Real Estate (XLRE) |
+0.58% |
|
Technology (XLK) |
+0.42% |
|
Utilities (XLU) |
+0.28% |
I’m not forcing the issue here, but I am confident about the market overall. I am looking for buying opportunities, especially on dips.
Tweet |
4/18/2024 1:37 PM | Didn’t Break Down |
4/18/2024 9:40 AM | MARKET OFF SCRIPT |
4/17/2024 1:59 PM | Facing Pressure |
4/17/2024 9:37 AM | POWELL STILL WANTS TO HELP |
4/16/2024 1:35 PM | Muted |
4/16/2024 9:42 AM | FEAR ARRIVES |
4/15/2024 1:17 PM | Making a Statement |
4/15/2024 9:45 AM | Equal Opportunity Drubbing |
4/12/2024 1:37 PM | Pressure Overall |
4/12/2024 9:42 AM | WHO YA GONNA CALL? |
4/11/2024 1:38 PM | No Urgency |
4/11/2024 9:27 AM | Tough Sledding |
4/10/2024 1:22 PM | Hang In There |
4/10/2024 9:51 AM | HERE COMES THE LATEST RATIONALE FOR PERSISTENT INFLATION |
4/9/2024 1:56 PM | Fighting the Trend |
4/9/2024 9:46 AM | NEXT TIME, MAKE IT A HOLIDAY |
4/8/2024 9:45 PM | Cautious Feel |
4/8/2024 7:19 AM | IT’S ECLIPSE DAY |
4/5/2024 1:51 PM | Higher and Cheaper |
4/5/2024 9:23 AM | MARKETS REEL ON BIDEN’S ISRAEL ULTIMATUM |
4/4/2024 1:42 PM | Stocks Bounce |
4/4/2024 9:31 AM | ESCAPING GRAVITY = ESCAPING REALITY? |
4/3/2024 1:41 PM | Cuts Not Soon |
4/3/2024 9:33 AM | A LITTLE LESS SWAGGER |
4/2/2024 1:16 PM | Under Pressure |
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