The market continues to defy the laws of gravity hitting new all-time highs despite tensions over Iran. After Iran’s retaliation Dow futures were down more than 400 points. It appeared as if we were on the verge of getting our correction. By morning, futures were indicating a positive open proving panicking over news headlines simply is not worth the time and effort. Wednesday’s market saw the NASDAQ 100 lead the entire market higher. Small caps continue to lag the overall market as the big money is finding safety in large cap tech. The overall trend remains intact despite anyone’s opinion. We will continue to forge on and continue maximizing our profit potential. Our risk management process allows us to ignore the news cycle and focus in on what truly matters in this market. Everything else is noise.
Information Technology led all sectors in the S&P 500 yesterday. Energy was the biggest loser down 1.74%. No surprise with Energy as Crude Oil traded below $60 a barrel. There weren’t many surprises in yesterday’s market but does highlight the leading sectors in the S&P 500. Semiconductor Sub-Sector was negative on the session. AMD the best performer of 2019 in the S&P 500 paused on the day while QCOM continues to trade quietly. AAPL continues its tear and appears it will continue its track higher. The company is set to report on 1/28. Technology continues to be a hot sector.
Let’s continue to focus on what really matters in the stock market. Ignore the noise from news headlines. Focus on your risk and price action. There is nothing worse than missing out on gains other than letting losses get out of hand. Stick with the process.
