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Afternoon Note

Back to See-Saw Moves

By Charles Payne, CEO & Principal Analyst
9/13/2021 1:54 PM

The session began with some gusto, but that faded quickly and it's back to the see-saw moves between value and growth. Energy is the only sector making a meaningful move.

S&P 500 Index

+0.14%

 

Communication Services XLC

+0.34%

 

Consumer Discretionary XLY

 

-0.02%

Consumer Staples XLP

+0.15%

 

Energy XLE

+2.85%

 

Financials XLF

+0.82%

 

Health Care XLV

 

-0.56%

Industrials XLI

 

-0.17%

Materials XLB

 

-0.39%

Real Estate XLRE

+0.51%

 

Technology XLK

 

-0.02%

Utilities XLU

 

-0.42%

 

Reopening niches, airlines, hotels and casinos are acting pretty well, while the darlings of stay-at-home such as Zoom (ZM) and Docusign (DOCU) are under serious pressure.

Still, most of the stocks on the move today are below key technical resistance points, as you can see from the airline ETF JETS.

JETS

 


 

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