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See what’s driving market performance around the world in today’s Morning Lineup.  Bespoke’s Morning Lineup is the best way to start your trading day.  Read it now by starting a two-week free trial to Bespoke Premium.  CLICK HERE to learn more and start your free trial.

“Most entrepreneurial ideas will sound crazy, stupid and uneconomic, and then they’ll turn out to be right.” – Reed Hastings

It may be the first trading day of the week, but given the declines to close out last week and the fact that futures are higher, it still qualifies as a Turnaround Tuesday for now.  There’s nothing in the way of economic data on the calendar, but the pace of earnings is picking up steam.  Of the seven companies reporting so far this morning, six have topped EPS and revenue forecasts, and Netflix (NFLX) will report after the close.

Be sure to check out today’s Morning Lineup for updates on the latest market news and events, Chinese Industrial Production, an update on the latest national and international COVID trends (which were positive again), and much more.

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Below we have provided a snapshot from our Trend Analyzer of each of the S&P 500 sectors showing their performance and where they’re trading relative to their short-term trading ranges heading into this week.  Last week was a negative for most sectors, but Energy, Real Estate, Utilities, and Financials all managed to buck the trend and post varying levels of gains.  Energy was the strongest sector of the week and it is now up over 12% YTD, and more than 13% above its 50-DMA.  As a result of the recent surge, the sector’s timing score is ‘Poor’.  On the other end of the spectrum, four sectors currently have ‘Good’ timing scores.  Those sectors are Communication Services, Industrials, Technology, and Consumer Staples.  Of those four sector ETFs, only Industrials is up YTD while the other three have all dropped 2% or more. While the broader market is up modestly YTD, on a sector by sector basis, it has been an uneven year.

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