Equally weighted index, Offensive $XLF & $XLK & $XLY vs Defensive $XLP & $XLU & $XLV. Respecting a support and resistance level dating back to 2007. pic.twitter.com/1LrMpyrYDI — Grant Hawkridge (@granthawkridge) April 3, 2020 Today’s Chart of the Day was shared on Twitter by Grant Hawkridge (@granthawkridge). It’s a ratio chart showing a basket of the offensive […]
Be Cautious of Cap Weighting
We’re always looking for different ways to measure the animal spirits responsible for driving markets higher or lower. In many cases, we do this by examining the risk appetite of one asset class relative to another through a variety of intermarket and ratio analysis. Today we’ll look at the oft-cited Consumer Discretionary Sector SPDR ($XLY) […]
Gaming on Sector Rotation
In last weeks “Chart of the Week” column, we highlighted the relentless strength of the Technology sector ($XLK), and more specifically the fresh all-time highs from a variety of subsectors including Software ($IGV), Cybersecurity ($HACK), Cloud Computing ($SKYY) and Semiconductors ($SOXX). Today, we’re going to drill into one of those industry groups. It’s been one […]
Stick With What’s Working in 2020
2019 was quite the year for Large-Cap Technology. Our benchmark, the SPDR Technology Sector ETF, $XLK gained 50% during the year, nearly doubling the performance of the next best sector, Financials ($XLF), as well as the S&P 500 itself, both of which returned about 30%. Many of the analyst notes and financial headlines I see […]
The New High in XLI
One of the US Equity sectors I pay the closest attention to for a read on the broader market is Industrials ($XLI). This is also true for Financials ($XLF) and Technology ($XLK) as these three Sectors are home to many of the most ubiquitous and vital companies in the US economy. They are also some […]