It's all about the Technology and Healthcare sectors this year, in terms of gains made, so far, as shown on the following 1-year charts and year-to-date graphs of the Major Indices and 9 Major Sectors.
The laggard, Energy, may be poised for a recovery, if it can hold above its downtrending 50-day moving average.
The Materials sector is on the verge of new breakout. Keep an eye on GOLD and Gold Miners ETF, as I've recently described here and here.
The Russell 2000 Index is still mired in a large-scale sideways consolidation zone. Watch for any breakout (and sustained hold) above this zone as a potential signal of renewed and serious riskier asset-buying in the markets, in general.
Traders may be influenced by the upcoming interest rate decision and press conference by the Fed on September 20, so these indices and ETFs may drift until then. If the Fed hikes rates, watch for any renewed and serious buying in the Financial sector (see my latest article on XLF here), as well as a sustained breakout and hold above its 50-day moving average and large sideways consolidation zone. And, furthermore, just a final comment on currencies in this regard...watch for any renewed buying in the U.S. Dollar, which has been battered this year, leading up to and following the Fed meeting, in anticipation, potentially, of a rate hike...we may see it retest the 50-day moving average before it, either, renews its downtrend, or continues a rally.
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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
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UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
* Fri. Oct. 2 @ 8:30 am ET ~ Employment Data
* Wed. Oct. 7 @ 2:00 pm ET ~ FOMC Meeting Minutes
* Tues. Oct. 13 @ 8:30 am ET ~ MoM & YoY CPI & Core CPI Data
* Wed. Oct. 14 @ 2:00 pm ET ~ Beige Book Report
* Fri. Oct. 16 @ 8:30 am ET ~ Core Retail Sales & Retail Sales
* Thurs. Nov. 5 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts and @ 2:30 pm ET ~ Fed Chair Press Conference
* Wed. Dec. 16 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts and @ 2:30 pm ET ~ Fed Chair Press Conference
*** Click here for link to Economic Calendars for all upcoming events