Who is the winner of rotations?
|S&P 500 took time to get going on retail sales above expectations, but the true winner as called for was once again Russell 2000. Bubble emerging? There is more to the story, and the sectoral rotations just inside the S&P 500 and various subsectors (looking at you IGV, then XBI and KRE) drop their own clues.
Just as much as this yields chart followed by my commentary in our channel in preps for today‘s data rich day (and then one more sectoral pick that is just getting going – and I don‘t mean Bitcoin or its plays such as MSTR, MARA or COIN mentioned yesterday, also premium). Plenty of gains delivered to clients.
Crude Oil
The downside direction in oil is picking up slowly, yet you can see that oil stocks aren‘t selling off in sympathy. Materials are actually among the leading sectors, but energy is nowhere nearby, meaning that oil stocks (outside exploration) should come with tempered appreciation expectations – better times would come when oil turns up, but we aren‘t near this point (for now, tentative bottom searching within a still narrow WTIC range).
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