Broad Market Outlook
The climb back to highs continues its steady pace keeping virtually everyone as puzzled and confused as the next. The head scratching trying to figure out why the market is doing what its doing could fill up the Library of Congress (the biggest library in the world). Yet the "why" doesn't matter to us, we just keep it simple and leave our opinions at the door. The market wants to V bottom right back to highs, great let's hold onto our stock.
The sooner you can throw out the idea that you need to be able to explain every market movement and shift that focus into making sure you are squeezing every possible dollar out of it, the better it will be for you and everyone that depends on you.
For the week ahead I would not be too surprised to see up continue to march up into the 315 before that starts to act as the next resistance area 290 acted as the last resistance area.
Macro Rotation Outlook
MDY Mid Caps
IWM Small Caps
Sensitive - sectors that have moderate correlations to overall market conditions.
Cyclical - sectors that are more sensitive overall market conditions.
VCR Consumer Discretionary
Defensive- sectors that tend to outperforming during sub par market conditions.
VDC Consumer Staples
IBB Bio Tech
Big Picture Set Up