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Tuesday, July 01, 2008

Sector Performance in Q2 and June

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

ADP Employment, Factory Orders
Notable earnings: FDO, AYI

Nonfarm Payroll, Unemployment rate, ISM Service

Fri: Markets closed.


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