S&P 500 Price/Volume Heat Map for 6/28 Trading Day and Week End

The last the trading day of June, the s&P 500 lost about 40 basis points in value, as all sectors but discretionary and utilities lost value. That said......

.....the price/volume heat map shows a more mixed supply/demand balance in trading. This is as most sectors, sans staples and materials, exhibited roughly 50% of the names having positive to mixed results. The strongest price/volume performance was in the utilities sector, this is as the sector performance continued the low volume rally from recent lows seen earlier in the month.

For the week, the S&P 500 gained 90 basis points in value. The performance on the week was largely predicated on the 250 basis point gain in discretionary stocks and the 170 basis points value increase in financials. Additionally, telecom and utilities gained 270 and 300 basis points, respectively, but contributed less to overall performance due to sector weighting. I continue to think the gains in utilities represent a dead-cat bounce and maintain my belief that the sector should be shorted.

Price/Volume Heat Map for Week Ending 6/28