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Afternoon Note

Blood Moon

By Charles Payne, CEO & Principal Analyst
5/26/2021 1:09 PM

Markets are higher, but the prints from major indices are not telling the real story.  While those retail investor favorites are rocking, and consumer discretionary names lead the way, there are pockets of weakness, as four sectors are in the red.

S&P 500 Index

+0.25%

 

Communication Services XLC

+0.75%

 

Consumer Discretionary XLY

+1.30%

 

Consumer Staples XLP

 

-0.15%

Energy XLE

+0.93%

 

Financials XLF

+0.64%

 

Health Care XLV

 

-0.55%

Industrials XLI

+0.02%

 

Materials XLB

 

-0.33%

Real Estate XLRE

+0.78%

 

Technology XLK

 

-0.05%

Utilities XLU

+0.29%

 

Commodities are pulling back, and oil is struggling even after big drawdowns that exceeded expectations.  The question is whether commodities have peaked, as bond yields keep edging lower.

Energy Inventories

Actual

Estimates

Crude Oil

-1.7 million

-1.1 million

Gasoline

-1.7 million

-600,000

Distillates

-3.0 million

-1.9 million

WTI Oil

Chart, line chartDescription automatically generated

There are lots of key resistance points coming up – I’ll discuss on the morning hotline.

Blood Moon and Making Money

Lunar Eclipse 2021: Super blood moon can be seen May 26 in US

If you missed the blood moon, don’t fret, I missed it, too.  The second-best thing is to try and make some money in the greatest money making machine in history – the stock market.


Comments
Let's make money Charles! Thanks

Lorin K on 5/26/2021 4:28:12 PM
Let's Do This!!!!  CP

Charles Payne on 5/26/2021 4:30:29 PM
Thanks Charles for your excellent columns twice a day! Much appreciated.

Trev on 5/27/2021 1:23:06 PM
 

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