It’s a nice rebound but many of last weeks concerns continue to lurk in the background.  Perhaps. That’s why the best performing sector after energy is utilities.  I’m impressed with the move in materials as well and think it signally beyond the so-called rescue bill to the infrastructure bill.  

The move in energy is even more intriguing considering West Texas Intermediate is spinning its wheels.  The XLE has broken through a trendline connecting a series points were prior rallies ran out of gas (I couldn’t resist).   It is interesting that energy seems to have the best reaction to vaccine news and reopening than other sectors.

XLE

Because of increased volatility I am being more proactive and sticking to the knitting.  We took big profits on two ideas where the underlying fundamentals were stalling even as overall hype is building.