Dem Staffer Who Filmed His Sexcapades in a Senate Hearing Room Later Checked...
CNN's Scott Jennings Knew Exactly Why Seinfeld Creator Larry David Attacked Bill Maher
New Jersey Republicans Are Getting Help From a Familiar Individual
Weirdo Lib Wearing What Appears to Be a Luigi Mangione T-Shirt Attacks Trump...
Independent Journalist Used Two Words That Perfectly Described Taylor Lorenz
Is This Trump's Best Line From the White House Easter Egg Roll?
The Left's Obsession With Clipping Pete Hegseth Is Bordering on Psychotic
Trump Won’t Get Tricked Into Sacrificing Pete Hegseth to the Democrats
When a Wrong Narrative Hides the Truth
How Trump Handled Biggs Entering the AZ Governor's Race After He Already Endorsed...
The White House Responds After Harvard Files Lawsuit Against Trump Administration Over Fun...
A Familiar Face Jumps in Race for California Governor
Harvard Presidents—On Sale at Macy's
Exposed: Another Bogus Immigration 'Controversy' Falls Apart
The Savaging of the Climate Politico-Legal-Media Complex
OPINION

Ready To SNAP Under Pressure

The opinions expressed by columnists are their own and do not necessarily represent the views of Townhall.com.
AP Photo/Richard Drew

All eleven S&P 500 sectors were higher for the week, but Communication Services stumbled throughout the week under pressure from SNAP’s (SNAP) earnings and Facebook’s (FB) controversy.  FB earnings report after the close should add clarity. On Friday, the Financials were the clear leader.

Advertisement

S&P 500 Index

 

-0.11%

Communication Services XLC

 

-2.12%

Consumer Discretionary XLY

 

-0.36%

Consumer Staples XLP

+0.78%

 

Energy XLE

+0.94%

 

Financials XLF

+1.40%

 

Health Care XLV

+0.40%

 

Industrials XLI

+0.35%

 

Materials XLB

 

-0.19%

Real Estate XLRE

+0.72%

 

Technology XLK

 

-0.35%

Utilities XLU

+0.51%

 

Financial Reports

All eleven S&P 500 sectors were higher for the week, but Communication Services stumbled throughout the week under pressure from SNAP’s (SNAP) earnings and Facebook’s (FB) controversy.  FB earnings report after the close should add clarity. On Friday, the Financials were the clear leader.


S&P 500 Index Week Oct 22nd

+1.64%

Communication Services XLC

+0.07%

Consumer Discretionary XLY

+1.98%

Consumer Staples XLP

+0.68%

Energy XLE

+1.08%

Financials XLF

+2.81%

Health Care XLV

+2.89%

Industrials XLI

+1.86%

Materials XLB

+0.81%

Real Estate XLRE

+3.23%

Technology XLK

+1.60%

Utilities XLU

+2.39%

Pit Stop?

The S&P 500 closed at a new high, but the chart is still in double top territory.  This is a bearish formation should the index begin to slide from here. And there is a lot of room down to the 50-day moving average.

Advertisement

I don’t see that happening, but we have to be on the lookout.

To see the chart, click here.

Portfolio Approach

There are no weighting changes to our Hotline Model Portfolio this morning.


Today’s Session

There is lots of inflation that is lasting longer.  It is a guessing game on the Fed’s action, coupled with another week-long wait for that spending package, and a ton of high profiles earnings, which means this could be a wild week.

Join the conversation as a VIP Member

Recommended

Trending on Townhall Videos

Advertisement
Advertisement
Advertisement