Basic Materials and Energy sectors returned to a leadership role today as the stock market looked to bounce from its recent doldrums. Both sectors advanced about 2%. However, it is Healthcare that has remained consistently strong. And in fact, it is Healthcare that has maintained a steadily strong score in Sabrient’s quantitative SectorCast model. Read more about Sector Detector: Basic Materials Looks Ready to Rumble
The market posted a big red candle today. It was much overdue … and in fact needed for a healthy market. It simply cannot go up in a straight line and engender confidence among investors. Backing and filling is a necessary aspect of a healthy bull market. Read more about Sector Detector: Market Takes an Overdue Pause
Our thundering herd of baby bulls struggled mightily last week to stay clear of that gloomy channel, and at one time the S&P 500 threatened to cross back under its 50-day moving average, but it ended the week about where it started. Read more about What the Market Wants: Slippin' and a-Slidin'
Last week things looked rosy for the markets, after the European bailout fund was finally ratified by the last holdout, Slovakia, just 10 days before the October 23 EU summit. 