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Afternoon Note

Feel Good About This Session

By Charles Payne, CEO & Principal Analyst
7/8/2021 1:43 PM

The major indices are well off the lows, which has been a pattern for weeks now.  Investors keep buying, even the min-dips, and it's been working.

The bigger question is whether the big money of Wall Street is willing to shift the focus back to growth and sense the economy isn’t going to be booming  forever. But once all the cash is stopped, or banked for good, what happens next?

Energy the only sector higher and there is an eclectic mix of names on top of the leaderboard.  

S&P 500 Index

 

-0.64%

Communication Services XLC

 

-0.84%

Consumer Discretionary XLY

 

-0.27%

Consumer Staples XLP

 

-0.20%

Energy XLE

+0.11%

 

Financials XLF

 

-1.24%

Health Care XLV

 

-060%

Industrials XLI

 

-0.81%

Materials XLB

 

-0.84%

Real Estate XLRE

 

-0.09%

Technology XLK

 

-0.87%

Utilities XLU

 

-0.14%

The fear index, VIX, is well off its high point after making another lower high - a trend that has been in place for a long time

I feel good about this session - and there is a ton of money parked on the sidelines that is inching closer to cascading into the market.  Until earnings season, however, there will be bouts of uneasiness. 


Comments
We so enjoyed Making Money today! Really enjoyed the man talking about the dollar, it's standing in the world currency and it's effect on our market! Two interesting speakers. And it's always good to hear the "Money Man" Charles say he feels good about today's market.


Lorin K on 7/8/2021 8:57:57 PM
 

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