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Morning Commentary

Seeking Equilibrium

By Charles Payne, CEO & Principal Analyst
10/4/2021 9:34 AM

All sectors were higher on Friday, but the tug of war continues.  Energy leads the way and is getting a boost in part to a spill off the coast of California.

Market breadth was mostly positive but not a convincing sign of inflection.

Market Breadth

NYSE

NASDAQ

Advancing

2,340

2,762

Declining

1,001

1,696

52 Week High

91

82

52 Week Low

79

154

Up Volume

3.04B

2.43B

Down Volume

857.72M

2.17B

Covid Inflection

While the market is trying to find terra firma, it looks like we might be in the midst of inflection for the Delta variant of Covid19 and people appear to be responding.

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TSA numbers are getting better.

Bond Yields have settled down for the moment.

Portfolio Approach

We added a new position Friday afternoon in Consumer Discretionary in our Hotline Model Portfolio.

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Today’s Session

This is an interesting week with the jobs report looming on Friday and earnings season right around the corner.

In some ways, it’s the perfect session to test investor sentiment ahead of the unknown and without serious inputs today. 

 


 

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