The markets wild ride continues this week as a down move Monday was almost completely erased Tuesday after the first Presidential debate. The S&P 500 (NYSE: SPY) was just short of flat for the week as of Tuesday's close as it too was able to participate in the debate rally. Interestingly, traders are concerned at the lack of recovery from the most recent decline. For some time now traders have been used to an immediate recovery after bad days, but this time around its yet to happen.
The Nasdaq 100 (NASDAQ: QQQ) has been slightly stronger. As of the Tuesday rally the Nasdaq 100 boasts a small gain on the week and is the closest of all the markets to hitting a new all time high again. That lack of immediate recovery in the S&P 500 is not the case for the Nasdaq 100.
Retail (NYSE: XRT) continues to trade in the range that has been set for the last two and a half weeks. The range may be tested though as Nike (NYSE: NKE) reported a beat on earnings but saw a sell off after hours. This could weigh on the retail sector going forward.
Semiconductors (NYSE: SMH) remain one of the strongest sectors out there. Very near its all time highs the SMH remains positive for the year by almost 27%. The uptrend has struggled recently but the dip caused an immediate buying frenzy by the bulls which has helped the Nasdaq 100.
Bonds (NYSE: TLT) remain on a tear as the rally that started back on September 15th has yet to stop. Each day has slowly pushed higher and higher, up almost 5% from the prior lows. It doesn't seem like an all out chase to own the sector, just a slow and steady rally chugging along.
Lastly, the emerging markets (NYSE: EEM) continues to charge ahead posting a gain of over 17% for 2016. The rally has been anything but steady though. Offering many pullbacks, the EEM has not been an easy one for traders to time an entry.