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Afternoon Note

Testing Will Of Investors

By Charles Payne, CEO & Principal Analyst
9/15/2021 1:34 PM

The market is  bouncing around wildly but in a narrow range.  This is actually good stuff- it’s price discovery and a chance to test the will of investors.  Ten of eleven sectors are higher, with all attempting to rally, led by Energy, as crude is making a strong move on a report of a major inventory drawdown.

Consumer Discretionary is slightly lower the day before retail sales.

S&P 500 Index

+0.61%

 

Communication Services XLC

 

-0.01%

Consumer Discretionary XLY

+0.00%

 

Consumer Staples XLP

+0.33%

 

Energy XLE

+2.99%

 

Financials XLF

+0.95%

 

Health Care XLV

+0.80%

 

Industrials XLI

+0.94%

 

Materials XLB

+0.79%

 

Real Estate XLRE

+0.68%

 

Technology XLK

+0.44%

 

Utilities XLU

+0.36%

 
 

That report (retail sales) has missed consensus in seven of ten months and really only rocked when the stimulus checks were making the rounds.


 

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