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Afternoon Note

Another Seesaw Session

By Charles Payne, CEO & Principal Analyst
9/11/2020 1:32 PM

It’s been another seesaw session that has seen weakness in Technology sway all the major indices.  The former high-flyers are continuing to have trouble holding onto rallies, as sell the rip has replaced buy the dip. 

Meanwhile, there is an even greater move into value sectors like Materials and Industrials.  This is great for folks with those names in their portfolio, but the sectors have little board market influence. 

All the S&P 500 sectors are in the green, save for Technology.

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


This is all playing out with major indices.

NASDAQ is bouncing around like a punch-drunk prize fighter.

The Dow looks determined to finish in the green.

The S&P 500 is stuck in the middle and not sure where to go; although, I think a majority of the names will finish the session higher.  It’s those heavyweights that are holding the index back and just barely above the 50-day moving average.

Enjoy your weekend and be ready to be more aggressive next week.

Love your show and make sure to tune in every week day my friend.
Waiting on the arrival of your book.
Is it available in digital format? I'm more of a Kindle type of reader because it's easier for me.
Thank You for all you do,

DAVID WATERS on 9/11/2020 3:21:19 PM

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