Episode 184: In 2015 the market was supported by a handful of stocks, namely FAANG- FaceBook, Apple, Amazon, Netflix & Google. Now only Facebook and Amazon remain above their 50dma.
Just like last year, the indexes appear stable although many leading names are well off their 52 week highs. Sector rotation is switching from “safe stocks” like Utilities & Consumer Staple to a weekly favored sector and then back to “safe”.
Energy & Materials stocks had a nice run but now Materials are breaking down. Will Energy start to drop as the “dash for trash” recovery fades?
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