Sure is a lot of dark blue on that heat map. Go figure considering the S&P 500 rallied considerably, adding 130 basis points in value. The outsized sector gains, on a price basis, were concentrated in the cyclical sectors, as you would expect.
Although the price/volume heat map reflects the price gains on the day, as shown below, the overall volume levels remain anemic. I still think this calls into question the tenacity and durability of the rally. However, equities moving to new highs suggest further price gains are in the offing.
No comments:
Post a Comment