The markets have been off to a good start so far this week with the Nasdaq composite actually breaking to new, all-time highs. The S&P 500 (NYSE: SPY) has moved above recent resistance but still is over 4% from reaching it's all time high set back in January. For the week the SPY is green but has only managed to post gains of just under 1%.
The Nasdaq 100 (NASDAQ: QQQ) has enjoyed the support of the tech space lately. With the strength in Amazon (NASDAQ: AMZN), and Apple (NASDAQ: AAPL) this week the QQQ has pushed back to all time highs but not quite over it just yet.
Retail (NYSE: XRT) has been a sector in focus this week. The XRT has added over 4% already this week in an explosive move higher. Thanks to some strong moves in popular, brand name retailers, the XRT now finds itself just over 1% from hitting new all time highs.
The Russell 2000 (NYSE: IWM) continues to be the powerhouse sector with the recent uptrend continuing in full force this week. The IWM has made new all-time highs twice already this week with gains of almost 8% on the year. This continues to be an index that traders are focused on as the bullish environment continues seemingly every day.
Consumer discretionary (NYSE: XLY) stocks remain strong this week following the strong jobs number that came out on Friday. This in combination with strong consumer data has led to a 1.5% gain in the XLY this week so far. The XLY is less than 1% away from getting back to highs set in January.
Lastly, Mexico (NYSE: EWW) hasn't fared so well this week. With the trade discussions still ongoing and now the talks of a bilateral agreement rather than a trilateral one with Canada included, it seems that Mexico is on the losing end of this negotiation for now. The EWW sold off over 3% so far this week, hitting new lows.