Financials underperformed in the month of September, but the bullish reversal pattern for the sector remains intact and we expect outperformance in October.
Financials Sector October Outlook—Outlook remains positive despite September stumble Read More »
XLV’s bullish reversal from July is on life support in the ER
ETF Insights| October 1, 2024 XLP near-term outperformance paused in September with the advent of the Fed’s dovish policy stance and 50 bps rate cut. We see interest rates firming in the near-term and expect some retrenchment from defensive shares moving forward. Price Action & Performance XLP price ended September right where it started despite
Clear break-out for XLY in September though there is some near-term risk as the daily chart is overbought
XLI continues to be the strongest commodities linked sector in our work.
Taking a long position for October on signs of bullish reversal
XLE persists as the weakest sector in our model. We are zero weight to start October in the Elev8 Sector Rotation Portfolio
We wonder how low rates can go if they spark a positive turn around in consumer fundamentals and lending
At the stock level we are seeing broad improvement with a fairly high correlation. Standout stocks are few and far between, but we see clear bullish reversals in residential real estate names, Healthcare REITs and Retail REITs
We like Utilities as a hedge against potential downsides in Growth sections of the market. The bull trend has been strong, with the S&P 500 appreciating well above its long-term expected return in 2024. With the intrinsic uncertainty of Presidential Election season upon us we see Utilities as useful add to the portfolio
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