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Afternoon Note

Much Better Today

By Charles Payne, CEO & Principal Analyst
10/27/2020 1:27 PM

The market is holding up much better today, although breadth is still decidedly negative, especially on the New York Stock Exchange.

Industrial are taking it on the chin big time, as the market reacts negatively to any company that cannot or will not provide guidance.  In addition, Boeing (BA) acts horribly (those old Dow Jones components are just too old to be relevant or serve as proper proxies).

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



On the other end of the spectrum, Technology acts much better, and many of the mega-growth names are displaying confidence ahead of their earnings releases on Thursday. 

As the major equity indices snake around their respective 50-day moving averages, more money will edge in a little closer and will be ready to pounce should this important test of support hold.

Right now, getting buyers to venture beyond their comfort zone seems to be the story of the session and week.

BA someone added a lot. Look at DDD

Karen Marlatt on 10/27/2020 2:02:51 PM
Thank you for the compact, rich content, and understandable views. A fan.

Stephen L Guy on 10/27/2020 3:51:43 PM

George F Massey III on 10/28/2020 9:13:21 AM

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