Instead of looking at the sectors, here is a chart that looks at the top holding of the sectors:
- MCD represents Discretionaries
- MSFT represents Technology
- XOM represents Energy
- and JPM represents Financials
20 minutes into the trading day and as the futures was testing the recent high, JPM and XOM were very weak relative to the rest of the market. In combination with the $TICK showing a decrease in upward momentum, we got a correction past the 0930 ET open.
The correction didn't close the opening gap, but the market is staying below the overnight high.
Charles
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