Okay, Virginia, Maybe There is a Santa Claus . . .

Market Surges to 2-Month High--Why?

By David Brown, Chief Market Strategist, Sabrient Systems

Market Rally Continues But Not Sure Why...

By David Brown, Chief Market Strategist, Sabrient Systems

The usual suspects of Materials, Industrials, Financials and Energy continue to lead this unstable market both up and down. Technology has been less volatile, and in fact it has been tracking closely with Healthcare lately. These two also happen to rank the highest this week in Sabrient’s SectorCast ETF rankings.

Last week, the stock market gave us epic swings. Bears came out with predictions of global economic meltdown as the market tanked, and then bulls came out trumpeting once-in-a-generation valuations when the market bounced.

Though the Federal government avoided a debt default with an eleventh hour deal for raising the debt ceiling, investors are apparently unimpressed—especially given the uninspiring economic reports. This week, the Commerce Department reported that personal spending in June fell for the first time in two years. This was coupled with the weak ISM manufacturing report and last Friday’s weak GDP report.

As the market has shown renewed strength, Technology and Energy have been leaders. Apple (AAPL) gave a stellar earnings report and hit another record high. IBM (IBM) also chipped in this week with a great report. However, Yahoo!

Banks are the Market's Ball-and-Chain

By David Brown, Chief Market Strategist, Sabrient Systems