Equities Wrap-Up – 2019.11.15

The Week In Equities…


S&P 500 (SPY): 0.92%
Financials (XLF): -0.3%
Energy (XLE): -1.01%
Healthcare (XLV): 2.45%
Tech (XLK): 1.3%
Utilities (XLU): 1.78%
Consumer Staples (XLP): 0.94%
China (FXI): -3.77%

The breakout continues. It seems that FOMO (Fear of Missing Out) has taken over. Bad news isn’t dragging things down too much lately. The market looks to be convinced that the Trade-War will soon end (or at least get no worse). In many ways this is normal mid-to-late fourth quarter market mechanics.

Financials were fairly flat for the week. Energy took a little dip, but rallied back some on Friday. Traders seem unworried about the supply/demand situation in crude. Healthcare was somewhat stagnant until Friday, when the sector took off due to Trump’s comments about price disclosure. Apparently, the penalties for non-compliance are not expected to be severe, so the rally may be in relief to the prior expectation. Tech continued to rally in concert with the greater market. Both utilities and consumer staples caught a bid on Wednesday, perhaps because of the Fed revealing they are on hold until there is a true need to raise rates. Chinese companies did not fare well this week, as their industrial production numbers missed estimates and it hurt the shares, overall.

As a side note to the China action, Alibaba (BABA) is an interesting looking chart. The stock just broke out of it’s recent resistance and returned to the prior level. This one may be worth watching for an entry.


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