Elev8 Model started August in an off-sides position as AMZN’s earnings and weak ISM data solidifies a corrective environment for Equities where we had expected more rotation into cyclical sectors initially
Negative economic data finally hit the tape as a bad thing with ISM surveys delivering signs of deepening contraction, sending equities lower. The Dow finished the day off 1.21% while the S&P 500 closed down 1.37%, while the Nasdaq composite gave up 2.30%. Low vol. sectors led the tape as the XLU, XLRE and
ETFsector.com Daily Trading Outlook, August 2, 2024 Read More »
Sharp rotation mid-month led to underperformance for July (-33bps). For August we discount negative seasonals and a potential rally in commodities prices to formulate our current exposures.
Elev8 Sector Rotation Model Portfolio: August Positioning Read More »
Wednesday saw a snap back towards Semiconductor and Technology shares spurring a big day for equities. Among the large cap. indices, the Nasdaq paced the advance adding 2.64% while the S&P 500 gained 1.58% and the Dow, 0.24%. Among sectors, the XLK led on the day surging 4.24% higher on renewed strength from Semiconductor buying.
ETFsector.com Daily Trading Outlook, August 1, 2024 Read More »
An eventful July has left equities in the same place they started and sector leadership in a completely different place.
SPY August Outlook Read More »
Financials broke out decisively in July and are now the best performing S&P 500 GICS Sector YTD. We look for recent strength to continue in August
XLF Financial Sector SPDR Outlook Read More »
Utilities executed a bullish pivot at the beginning of July and look likely to continue outperforming in August.
XLU Utilities Sector SPDR August Outlook Read More »
We are betting on a bounce in Commodities prices from deeply oversold conditions to continue motivating the bullish reversal in XLB.
XLB Materials SPDR August Outlook Read More »
META, GOOG/L and NFLX continue to be the performance drivers for XLC. With all three oversold in the near term, we expect a bounce in August.
XLC Communication Services SPDR August Outlook Read More »
Correction in the second half of July has left the XLK near-term oversold in a strong longer-term uptrend. We expect the near term oversold condition to be bought by investors looking to “buy the dip”.
XLK Information Technology Sector SPDR August Outlook Read More »
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