Sector Watch: Hot Or Not

Market's have rebounded well since the sell-off that led to a test of SPX 200-day moving average.

Following today's CPI report in the pre-market, and the subsequent sell-off, I was ready for the market to begin its selling yet again, so I raised my stops to protect all profits.

But a funny thing happened!

Not a single stock was stopped out and everything kept pushing higher.

That' a good thing, right? Sure, as it saved me the trouble of having to get short, and with the market climbing back towards the 50-day moving average, confidence is starting to flow back in some, particularly when the market can make a good day off of the kind of CPI report that we got.

Below, I've update the sectors, as I received a lot of positive feedback from readers and its helpfulness. So here are the updated charts and how well (or how bad!) each sector is doing. I can say this: financials are the place to be right now, followed by tech, discretionary and basic materials.

Let's review the sectors:

Basic Materials (XLB)

(Click on image to enlarge)

01 xlb basic materials