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Afternoon Note

Last Week of Summer

By Charles Payne, CEO & Principal Analyst
9/8/2021 1:28 PM

It is another sloppy session. I'm not making anything out of it other than it's the last week of summer, so be careful not to overreact to the action.

On that note, however, we see where companies that miss earnings reports are going to be crushed. Momentum in general works both ways - something to understand when you want to own the hot stocks but tend to panic when they are coming down hard and fast. 

We went from seven winning sectors to four, with safe havens such as Utilites, the top performers. Industrials are most intriguing after starting out much lower. Overall, I like the action, as weak brothers and sisters are being baited and refusing to bail after being burned so many times.

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





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