This week has been one big chop fest; and today is no different. $SPY printed a bit of a run up into yesterday’s close, only to give that “run” back in this morning’s PM session. Currently, the ETF is trading between its PM highs and lows – stuck in a bit of continued chop. It’s more than obvious the level of uncertainty flowing through the Street. Vaccine chatter is strong, but more lockdowns are imminent.
This week has shown a bit of a pullback from the Street as $SPY prices sit below its previous ATH’s. Last Monday crack through highs off $PFE vaccine news appears to be pre-mature – for now. The vaccine race is on and that has provided some solid opportunities in the Health Care sector; main and sympathy plays.
Next week is a holiday week as the markets are closed for Thanksgiving and half day on Friday; but it still leaves us with 3 solid days to extract.
There’s no need to go into today’s headlines as they’re just rotating.
Sectors are trading in a 8/3 bear split with Utilities leading the bulls, trading up +0.49%. Industrials sits at the bottom for the bears, trading down -0.84%.
Our top 10 Smart Money Movers are:
$SBE trading up over 8%
$WSM trading up over 7%
$NVCR trading up over 7%
$APPS trading up over 7%
$ZM trading up over 5%
$FL trading down over 4%
$BJ trading down over 4%
$SONO trading down over 7%
$WDAY trading down over 7%
$GSX trading down over 19%