Technology Sector Continues to Lead, As Market Forgets Last Week.

 

It has even been a week, and the S&P 500 is right back to 2,397. Last week the world was crashing, and the S&P 500 was down 1.8 percent. Today it would seem and feel as though it never even happened. Pretty amazing, the short-term memory of the market. Perhaps more important a sign of just how strong the underlying bid in the equity market truly is.

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^SPX Chart

^SPX data by YCharts

The 2.20 percent level in the Ten-Year is very strong support level at this point.
^TNX Chart

^TNX data by YCharts

The Dollar appears to be at over-sold levels
^DXY Chart

^DXY data by YCharts

Over the last month Technology is the clear winner.
IBB Chart

IBB data by YCharts

The 10-2 spread has been contracting, meaning the yield curve is flattening. But…
10-2 Year Treasury Yield Spread Chart

10-2 Year Treasury Yield Spread data by YCharts

That is is because the 2 year is rising faster than the 10 year, not because the 10-year is falling to the 2 year.
2 Year Treasury Rate Chart

2 Year Treasury Rate data by YCharts

 

$xlk, $XLY, $XLP, $XLU $XLB, $XLF, $IBB, $SPY, $SPX, $TLT, $DXY,

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Michael Kramer and the clients of Mott Capital Management, LLC own shares of NFLX, DIS, and GOOGL

Michael Kramer is the Founder and Portfolio Manager of Mott Capital Management, LLC, a registered investment adviser. 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 recommendation made during the past twelve months. Past performance is not indicative of future performance