ETFsector.com Daily Trading Outlook, July 15, 2024
GS showing steady improvement while META is suddenly on the ropes.
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META
ETFsector.com Daily Trading Outlook, July 8, 2024
Equities finished the holiday week on a tear with the Nasdaq pacing the advance adding 0.90% while the S&P 500 gained 0.54% and the Dow 0.17%. There was a marked contrast between winners and losers in a lightly traded session. META paced advancers at the stock level up 5.87% with GOOG, TSLA and AAPL also
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XLC Communication Services SPDR July Outlook—META, GOOG/L and NFLX continue to pace the sector
The XLC continues to benefit from the lack of inflation and the strong bull trend behind Growth stocks. Entering July we see a continued positive environment for the sector.
XLC Communication Services SPDR June Outlook—Periphery industries firm up around Blue-Chips META, GOOG/L and NFLX
The XLC has improved steadily since the advent of the bull market in early 2023. Upside participation is broadening out and rates have failed below cycle highs for the 2nd time over the intermediate term alleviating that concern. The Elev8 Sector Model recommends an OVERWEIGHT position in XLC vs. the S&P 500 of +3.22% our largest overweight allocation for June