What if in this game of chicken we can't even see the other car lights yet? What if the other driver is waiting in a Five Guys drive-thru because they know the rubber doesn't hit the road until after earnings season is finished or until September quarter-end or......
While we all think we are playing the same game I doubt anyone on this forum is playing the same game in quite the same way.
Factors: Everyone up on the week. SDY Divi Yield SPLV Low Beta at the bottom of the pile. If you look up the chart some ETFs with a close 1W performance are close to those with very different 1M/3M performance. IWF Growth MTUM Momentum is both up +3% on the week but MTUM -0.1% against +8.62% over 3M. How strange. Important? Who knows.
Sectors: XLE Energy XLU Utilities are strange bedfellows both down on the week. XLC Communications tops the chart but a huge part of that came on Friday with FB Facebook SNAP Snapchat having big moves on earnings. XLRE Real Estate looks jolly interesting here strong 1M/3M/YTD momentum and it straddles two worlds one the positive push in rents and two should the Fed have to step in fallings rates.
Fixed Income: The bond market purports to be the market of truth where all the clever ones play but to me, it looks like the one with the least direction. Now I must admit divergence of direction does not mean that as a whole... (More)