rebound gets stronger and stronger, pullback gets weaker, so maybe the low was in.
Attachments
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From Briefing.com:
The S&P 500 breached its 200-day moving average earlier, but is now about 10 points above the key technical level.
Losses are broad with eight of the eleven S&P 500 sectors trading in the red. The financial group is at the back of the pack, down 1.2%, with AIG leading the retreat after missing bottom-line estimates for the first quarter; AIG shares are down 7.5%.
A decline in Treasury yields is also weighing on the financial space, with the benchmark 10-yr yield down two basis points at 2.94%.
SECTORS YEAR-TO-DATE
There are only TWO sectors in the green on the year: energy and technology (lime and black)
(btw: I substituted RCD (pink), the equal-weighted discretionary, for XLY, because XLY is unfairly skewed by AMZN and NFLX)
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.