Above is a chart of sector performance in June. Only sector above water was Energy. And that sector, along with commodities should be about the only places to have some call option positions. Needless to say, Financial sector was the worst hit, with waves of rumours and write-downs tearing this sector apart. Technology, Consumer Discretionary and Industrial sectors were also not spared the hit.
This one is Q2 sector performance. Energy is clearly leading the way. While there has been talk that Energy could be topping soon, until it stops printing higher highs and higher lows, I think the trend is still up. However, the outlook for general market is grim as some major technicals have been broken in June. This is a short week due to Independence Day on Friday. Enjoy yourself and battle the bears when you are back.
Mon: Chicago PMI, Michigan Sentiment
Tue: Construction Spending, ISM Index Notable earnings: APOL Wed: ADP Employment, Factory Orders Notable earnings: FDO, AYI Thurs: Nonfarm Payroll, Unemployment rate, ISM Service