Tech stocks outperformed its peers following yesterday’s CPI report. And if it can maintain yesterday’s direction and volatility, it could retest its record high within a session or two.
Gold is also showing signs of breaking higher. But we’ve been here a few times before, so we outline three potential scenarios covering a bullish or bearish outcome. Then we finish up on GBP/JPY which is trying to revert to its well-established bull trend.
S&P 500: Market Internals
S&P 500: 4239.18 (0.47%), 10 June 2021
- Healthcare (1.68%) was the strongest sector and Financials (-1.11%) was the weakest
- 7 out of the 11 S&P 500 sectors closed higher (and outperformed the index)
- 282 (55.84%) stocks advanced and 221 (43.76%) declined
- 90.69% of stocks closed above their 200-day average
- 81.19% of stocks closed above their 50-day average
- 57.62% of stocks closed above their 20-day average
- + 6.61% - Organon & Co (OGN.N)
- + 5.25% - ServiceNow Inc (NOW.N)
- + 4.77% - Enphase Energy Inc (ENPH.OQ)
- -4.69% - Nielsen Holdings PLC (NLSN.N)
- -4.67% - SVB Financial Group (SIVB.OQ)
- -3.96% - NVR Inc (NVR.N)