Relative strength wednesday
The market seemed to be on pause until hearing from the Fed this afternoon. All the major indices remain overbought. How they clear overbought will matter to us.
We can clearly see the rotation in the last week as the market seems to have adjusted it's expectations from the Fed, and unwound the recession trade. Financials, the consumer and communications lead this weeks analysis. Remember, communication is 1 part growth, with names like Facebook and Google and 1 part yield with telecoms like Verizon.
We can clearly see the rotation in the last week as the market seems to have adjusted it's expectations from the Fed, and unwound the recession trade. Financials, the consumer and communications lead this weeks analysis. Remember, communication is 1 part growth, with names like Facebook and Google and 1 part yield with telecoms like Verizon.
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