In today’s briefing:
- Upgrading Staples and Health Care to Market Weight; Shift to Value; Failed Breakouts for ARKK, IPO
Upgrading Staples and Health Care to Market Weight; Shift to Value; Failed Breakouts for ARKK, IPO
- As the saying goes, “sector rotation is the lifeblood of a bull market.” That appears to be exactly what is going on as we kick off 2024.
- Leadership areas that have significantly outperformed since the October 2023 lows are starting to pull back rather hard — and on above average volume (XLK, SMH, IGV, ARKK, IPO, BITQ)
- Other Sectors are picking up the slack, namely Health Care (XLV), Staples (XLP), Utilities (XLU), Energy (XLE), Financials (XLF), and Real Estate (XLRE). Shift exposure toward value and defensives
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