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Afternoon Note

Trying to Snap Losing Streak

By Charles Payne, CEO & Principal Analyst
2/19/2021 2:25 PM

The major indices have come off their highs and now the Nasdaq and S&P500 have slipped into negative territory.  They were trying to buck a 3 day losing streaks.  Let’s see if that can happen. 

Industrials are the best performing sector today on the heels of Deere’s (DE) earnings.  US Manufacturing PMI slowed in February to 58.5 from 59.2 in January, but it is still solid growth.  Production and new orders weakened, but client demand remained strong. Inflationary pressures also increased.  Newly created job rose at the fastest pace since December 2017.  Meanwhile, the services PMI rose to 58.9 from 58.3, the highest since March 2015.

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




Advancers are in control today with the up volume blowing away the down.  New highs are also impressive.

Market Breadth









52 Week High



52 Week Low



Up Volume



Down Volume




January Existing home sales were stronger than expected +0.6% vs estimates for -2.4% to 6.69 million units, as the move to buy homes continues.  December was also revised higher to +0.9% from+ 0.7%. Year over year, sales increased 23.7%, and median home prices are up 14.1% to $303,900. Inventory is continuing to decline, down 25.7% from the prior year to 1.04 million and is now at 1.9-month supply, a record decline.

Highlights Versus Prior Year:

 Sales based on price:

Have a great weekend. Stay safe and warm.

I am a new subscriber of wstreet...just wanted to say I am a big fan of yours and have enjoyed listening to your Fox tv show...I love your stock predictions... several years ago I listen to you when you said you were very optimistic about Amazon...I then purchased some Amazon stock at $120 a share. Thank you! I appreciates your insights and knowledge.

Martin Ziobrowski on 2/19/2021 2:53:44 PM
My biggest concern is that I took advantage of the Covid dip beginning last March and greatly expanded my portfolio. I added positions throughout the year but worry that the market will crash prior to the positions reaching 1 year and if I sell it will be short term taxes . . . I'm not happy with the current administration and fear I will suffer huge losses.

Michell Anne Kimball on 2/19/2021 4:47:29 PM
Thanks as always! Just bought your book and video. I am a more than novice investor, retired 55 yr old. Spend most of my day and night digesting everything I can Market related. Hoping your book helps me kick it up a notch!!!

Thank you for looking out for us regular Joes.

Wally Geising
Buffalo NY

Walter Geising on 2/19/2021 11:37:59 PM
I am just getting started.

Karl H Studinger on 2/20/2021 2:22:41 PM

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