The energy sector fell over 2% today and crude dropped about 1.6% which helped drag down the S&P by about .03%. We’re going to move into an environment where you don’t have all stocks winning from low interest rates. Those stocks, which are considered bond proxies for their high dividends should show weakness going forward. I’ve mentioned utilities and REIT’s as areas to avoid. Housing stocks are holding their own, but who knows for how long.
Interest rates and a stronger dollar have taken a shine off the energy and crude rally of late. Banks should be doing a bit better but they aren’t yet.
Gold continues to sell off, not as much today, but it is closing in on important July support.
NVCR stopped -.60c today after quick 10% move after the recommendation.
There’s a little bear flag on the SPX so lets be careful.
I barley got this post off tonight due tech issues with my computer, so I’ll see you guys in the morning.