Latest Market Insights
The stock market has been moving sideways since the start of December and while there have been leading and lagging sectors for opportunity, we’ve mostly gone no where.
Here’s a chart of the small caps, Russell 2000 $IWM:
Where does that leave us today?
Markets are kicking off this holiday shortened week mostly in the red, led lower by the Russell 2000, small caps.
But, not everything is being thrown away , as we see both the Consumer Staples and the Utilities Sector rallying towards multi-month highs.
Here’s a look at both on the daily time frame.
The Nasdaq Biotech ETF $IBB saw a knee-jerk reaction lower yesterday after firm comments from President-elect Trump on current drug pricing.
It was the laggard on the day and finished lower by -2.99%.
That sell off, while sharp, retraced less than 50% of the gains made from 2017 as the Biotech sector had been higher every single day (6/6) until yesterday.