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Top 20-Bottom 20, Sectors, Market
As TPA has been saying for the past 2 months, sector and stock outperformance will be driven by rates. It will be driven in 2 ways:
- Interest-rate sensitive areas of the stocks market will thrive and …
- …TECH stocks, which have become overweighted in most portfolios will suffer.
First, the 10-Year is moving as TPA has predicted. After breaking below 4%, the 10-Year is headed to long-term support at the 3.35% level.
Sectors – the top 2 sectors are Homebuilders and REITs. The bottom 2 sectors are TECH and SEMIs.
Stocks:
- The top 20 are populated by REITs and Financials (interest-rate sensitive.
- The bottom 29 stocks are populated by TECH
TOP TECH stocks have been particularly vulnerable. The NY FANG index is down 8.8% in the past 12 days, whereas the S&P500 is only down 3.3%. (see the NY FANG index below).
Jeff Marcus founded Turning Point Analytics (TPA) in 2009 after 25 years on trading desks and 13 years as a head trader to provide strategic and technical research to institutional clients. Turning Point Analytics (TPA) provides a unique strategy that works as an overlay to clients’ good fundamental analysis. After 10 years of serving only large institutions, TPA now offers its research services to mid and small managers, RIA’s, and wealthy sophisticated individuals looking for a way to increase their returns and outperform their peers.
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