4,700 appears to be a degree of significant resistance for the S&P (SPY) resulting in an prolonged consolidation interval hand in hand with violent sector rotation. Why is that this taking place? What occurs subsequent? And methods to commerce this atmosphere? The reply to those questions and extra are mentioned on this market commentary beneath.(Please get pleasure from this up to date model of my weekly commentary from the Reitmeister Total Return e-newsletter).
Over the previous week the S&P is comparatively breakeven. But in the event you ask the typical investor how they’re doing they’ll inform you unequivocally that this weak has been downright brutal.
That’s as a result of we’re going via the identical type of consolidation and sector rotation interval skilled a dozen or extra occasions since this bull market started 20 months in the past. That being the place all the cash flows to the FAANG shares (and a few of their finest mates) and everybody else will get kicked within the groin.
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