Afternoon Note
The market continues to sway back and forth, but it looks like buyers are fading and perhaps sensing a chance to get better entry prices. That’s the conundrum of the market. The pullback made some favorites cheaper. There are a lot of would-be buyers trying not to be the first to jump in but certainly not wanting to be the last, either.
All sectors except Consumer Discretionary are lower, but I must point out the biggest losers are defensive sectors:
And the biggest loser is once again the energy sector.
S&P 500 Index |
-0.66% |
|
Communication Services XLC |
-0.07% |
|
Consumer Discretionary XLY |
+0.04% |
|
Consumer Staples XLP |
-0.49% |
|
Energy XLE |
-2.08% |
|
Financials XLF |
-0.84% |
|
Health Care XLV |
-0.75% |
|
Industrials XLI |
-0.80% |
|
Materials XLB |
-0.35% |
|
Real Estate XLRE |
-1.05% |
|
Technology XLK |
-0.77% |
|
Utilities XLU |
-1.45% |
Remember in the market it’s not about how the market opens, but how it closes. So, this session is a great opportunity for buyers to decide the coast is clear.
I think Peloton (PTON), which reports after the close will beat, and rally, and other names reporting could give us a better read on the restaurant industry and the TikTok saga.
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4/24/2024 9:26 AM | BUYING THE DIP |
4/23/2024 1:25 PM | Bloom Off Rose |
4/23/2024 9:32 AM | WHAT HAPPENED TO THE BRAVADO? |
4/22/2024 1:22 PM | Pins and Needles |
4/22/2024 9:30 AM | LIVE BY THE SWORD … |
4/19/2024 1:20 PM | Fair Chunk of Rotation |
4/19/2024 9:35 AM | DON’T OVERREACT |
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 |
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