Short Term Pop Signals Selling

Here is a daily recap of the S&P 500 broken down by sector followed by sector heat map as short term pop signals selling. Stocks in heat map are based on the top 10 holdings of each sector ETF. Click on each picture to zoom in. Below is a summary of today’s action on Wall Street provided by CNBC:

Dow jumps 350 points after Fed’s Williams says central bank could reassess view in 2019

U.S. stocks gained Friday after Federal Reserve Bank of New York President John Williams said that the central bank could reassess its interest rate policy and balance sheet reduction in the new year if the economy slows. Williams also said the Fed was listening to the market, and could re-evaluate its outlook for two rate hikes next year.

The S&P 500 (SPY) continued its downward path, as it lost -2.06% today. All 11 sectors finished in the red as shown below in the sector graph. Communication services (XLC) -3.27% and technology (XLK) -3.04% led all sectors lower. Consumer discretionary (XLY) lost more than 2%. Consumer staples (XLP), financials (XLF), healthcare (XLV), industrials (XLI) and real estate (XLRE) each fell more than 1%. Energy (XLE), materials (XLB) and utilities each dropped less than 1%.

The Dow Jones index dove -414 points (-1.81%) to close at 22,445. The Nasdaq declined -195 points (-2.99%) to settle at 6,333.

Short Term Pop Signals Selling

A short term pop in stocks on Friday signaled selling. The Dow was up as much as 300+ points during the session following comments from New York Fed President John Williams saying the Fed could go back over its interest rate policy in 2019 if the economy slows. However, investors used the short term pop to sell as that 300+ point gain in the Dow quickly evaporated and closed 414 points lower. Also, pulling down sentiment were growing fears of a government shutdown.

Key Takeaways…

I took the following CNBC screenshots this morning regarding year end trading, reading the risks and who’s buying?:

Short Term Pop Signals Selling

Short Term Pop Signals Selling

Short Term Pop Signals Selling

Notable S&P Movers…

Below I’ve highlighted some notable S&P movers (both winners & losers).

Credit: Sector Graph provided by Sector SPDR app. Sector breakdown provided by Charles Schwab. Sector heat map provided by finviz. Information Credit: News Headlines and quotes were taken from CNBC in the writing of this post.

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12/21/18

S&P 500 Sector Graph

Short Term Pop Signals Selling

S&P 500 (SPY)

Short Term Pop Signals Selling

Communication Services (XLC)

Short Term Pop Signals Selling

Consumer Discretionary (XLY)

Short Term Pop Signals Selling

Consumer Staples (XLP)

Short Term Pop Signals Selling

Energy (XLE)

Short Term Pop Signals Selling

Financials (XLF)

Short Term Pop Signals Selling

Real Estate (XLRE)

Short Term Pop Signals Selling

Healthcare (XLV)

Short Term Pop Signals Selling

Industrials (XLI)

Short Term Pop Signals Selling

Materials (XLB)

Short Term Pop Signals Selling

Technology (XLK)

Short Term Pop Signals Selling

Utilities (XLU)

Short Term Pop Signals Selling

S&P 500 Sector Heat Map

Short Term Pop Signals Selling

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