Not Much Has Changed:

With a little more than one month in the books of 2020, things have remained somewhat the same from 2019 regarding major S&P sector performance. Technology which was the best actor last year maintains a comfortable lead, over a curious second place group in the defensive utilities (energy which was the worst performer, is comfortably in that position once again). One exception to this rule is the financials which is 2019 were the third best, and currently are the third worst behaved major sector. I still fell this group is just taking a breather, as the XLF CLOSED very tautly during a 5 week period the weeks ending between 12/13/19-1/10 with all finishing within just NINE pennies of each other. That type of action normally resolves in the direction of the prevailing trend, and the fact that the XLF is trading just off 52 week highs, it should be northward.

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