9/15 Market Recap
- 2/2 red days this week on $SPX $QQQ after a strong Friday, and new lows on SPY vs last Thu. $SPY finished -0.36%, $QQQ -0.57%, $DIA -0.58%. Small caps lagged harder with $IWM -0.93%
- Breadth mostly tracked the headline under the hood: with the equal weighted $RSP -0.49%. MAG7 mixed bag with $META $NVDA green while $AMZN $MSFT $GOOGL finishing red.
- Only 2/11 sectors finished green today, as energy $XLE roared back to life after a reversal yesterday. $MPC $COP $EOG $VLO $SM remain leading stocks in this sector at the moment
- Cybersecurity $CIBR and parts of software $IGV remained strong. $CRWD $ZS $PANW all made new highs after a very strong day yesterday. Within software, $TWLO was a standout name today. $RBRK continues to show strength
- Semis like $QCOM $DELL $AMD $ARM $INTC showed some strength early on but saw reversals later in teh session
- Crypto names mostly ugly after the Clarity bill did not pass with $IBIT -4%, $ETHA -5.5% and related names $COIN $MSTR $HOOD $CRCL $PURR all seeing selloffs in the afternoon
Big day tomorrtw with now a ~95% chance of a rate hike by the Fed. Let's see how the markets react based on what the decision is. Overall, not an easy spell in the markets, but as I have been telling my fellows traders and community - hang in there, after difficult phases in the markets, easier times will come. For now be selective and trade smaller. Once traction returns, gradually add size back.