On Friday, the S&P 500 rebounded marginally from the route the following day, adding about 30 basis points in value. Although experiencing overall gains, traders and investors appeared gun shy of sorts, as the cyclical sectors traded lower and the overall gains were predicated on buying in the non-cyclical sectors. This can be a proxy of the risk-taking willingness of equity market participants.
The price/volume heat map bears this out. Equity traders were in no mood to buying into cyclical names on the dip and price/volume movers in these sectors were weighted towards the negative side.
The price/volume heat map bears this out. Equity traders were in no mood to buying into cyclical names on the dip and price/volume movers in these sectors were weighted towards the negative side.
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