The Financial Sector gave us the breakout we had been waiting to happen, with the Financial Select Sector SPDR® ETF (XLF) moving up by almost 1.20 percent to $25.20. In my latest premium video, we discuss the breakout, and what means for the group going forward.
You can watch the video here: Financials Breakout As We Expected
Technology continues to perform well, despite Alphabet (GOOGL) falling modestly today following its second quarter results. The Technology Select Sector SPDR® ETF (XLK), managed to eek out mostly flat day, despite Alphabet falling by around 3 percent.
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Biotech stocks fell modestly with the iShares Nasdaq Biotechnology ETF (IBB) lower by 1 percent dragged down for the most part by Biogen (BIIB) after reporting results that beat on the top and bottom while outlining a growth plan going forward.
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Michael Kramer is the Founder of Mott Capital Management LLC, a registered investment adviser, and the manager of the company’s actively managed, long-only Thematic Growth Portfolio. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Upon request, the advisor will provide a list of all recommendations made during the past twelve months. Past performance is not indicative of future performance.