In today’s briefing:
- Many Indexes/Sectors Testing Resistance; Limited Upside From Here; Buys in Staples and Health Care
Many Indexes/Sectors Testing Resistance; Limited Upside From Here; Buys in Staples and Health Care
- We previously discussed our belief that equities were in the midst of a rally/short squeeze, but that the rally is likely to fizzle in the 4100-4165 area on S&P 500
- And, as you will see below, countless other indexes and Sectors are testing important resistance levels. We continue to expect 4100-4165 on the S&P 500 to cap upside
- Buy ideas highlighted within defensives, including Consumer Staples, Health Care, and Communications: CMCSA, CHTR, UL, KHC, CAG, SJM, CPB, LLY, MRK, and NVO
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