Weekend Review and Watchlist

Overview

The S&P 500 and NASDAQ finished Friday at all time highs. The Dow, NYSE Composite, and Midcap Index all managed all time highs on a weekly close basis. Breadth is also at new highs.

The Transports, Russell, and Microcap, are not yet at new highs, but did finish back above their respective 10-week MAs.

Here are the S&P and NASDAQ on a weekly:-

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With a couple of days left in May, the S&P look set to post its sixth straight higher low on the monthly chart.

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Breadth is at new highs too.

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Sector Rankings

Staples, Industrials, Utilities, and Technology all posted new highs this week.

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They're followed by Consumer Discretionary which finished just shy of a new high. Then it's Materials, Healthcare, and Real Estate which are all above their 20, 50, and 200-day MAs.

At the bottom it's still Financials, which improved but remains below its 50-day, and Energy, which finished the week lower and is approaching 10-month lows.

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Alpha Capture Portfolio

Our model portfolio finished +1.1% on the week vs +1.4% for the S&P. It's now +5.4% YTD vs +7.9% for the S&P. It had one exit during the week and remains long 10 names, with total open risk of 10%, and 11% cash.

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Watchlist

In last week's list we mentioned technology and consumer-related names starting to fade while industrial names made their way through, and that continued to be the theme this week, along with plenty of stocks from traditional high-yield sectors. The result is a much longer and more diverse list than we've seen for a while, reflecting the strength and breadth in the market overall.

Here's a sample from the full list of 30 names:-

$BLK

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$COL

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$CMS


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$SHW

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$PZE

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$BSX

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$IDXX

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$LRCX

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$MKSI

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$RAI

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Posted to Alpha Capture on May 27, 2017 — 1:05 AM

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