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Last week's market performance by sector
1 Energy +8.3%
2 Financial +4.1%
3 Basic Materials +0.1%
4 Consumer Defensive +0.03%
5 Industrials -0.5%
6 Utilities -2.2%
7 Consumer Cyclical -2.3%
8 Real Estate -3.9%
9 Comm Services -4%
10 Healthcare -5.2%
11 Technology -5.7%
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Does anyone remember the research done on the first week of January as a predictor for the year - not by sector but by the broad market indices?
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Well I can't speak to the whole year, but last year, what we saw was that the market would turn "angry" especially against tech, for 2 weeks at a time. Then it would recover for about 4, then down again for 2, rinse & repeat until the October boost. Therefore, I expect the coming week to be rough as well, and then the second half of January to be decent. I expect for my portfolio January will overall be a down month.
That said, I believe sometime in February we will get news that Omicron is blowing itself out, and the markets will boom for a bit. The news we really need to hear is that the supply chain crisis is easing up. Once that goes away, inflation should level out, and then we'll be all good.
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Until buying dips is no longer rewarded this is likely. Still no alternative that might beat inflation.
I think I saw an article on CNBC website but the first week, and the month of January in general seem to set the tone, statistically anyway.
