After trading up as much as 3% YTD last Tuesday morning, the final four trading days of the month erased all of those gains and then some. By the time the closing bell rang on the first month of 2021, the S&P 500 was down a little over 1% for the year and traded below its 50-day moving average for the first time since November 3rd.
Based on the month of January, if you were looking for a return to more normalcy in 2021 compared to 2020, don’t hold your breath.
With the first month of 2021 behind us, in our latest B.I.G. Tips report, we provided a broad overview of the market’s technical picture looking at the charts of all 60 S&P 500 Industry Groups. This review provides a good summary of which groups and sectors are leading and lagging the market as the S&P 500 post-election rally starts to consolidate.
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