The markets start the week by pushing to new highs. The S&P 500 (NYSE: SPY) boasts a new, all-time high having moved higher each day so far this week. As the month comes to an end investors are left to wonder if the historical, September decline is upon us or if this market is simply too strong to be stopped.
The Nasdaq 100 (NASDAQ: QQQ) hit new, all-time highs as well this week and continues to be in a strong and consistent up trend. This week so far has offered nothing but positive moves which have been helped by nice moves in tech stocks.
Emerging Markets (NYSE: EEM) saw a pop early in the week thanks to news that the US had reached a trade deal with Mexico once and for all. The new trade deal sent some of the bigger Dow names higher but also helped to continue the efforts of the EEM to come out of a downtrend. For the year Emerging markets have lost about 10%, staying in a steady downtrend almost all year long.
Last week the price of Gold (NYSE: GLD) saw a sharp move higher which left many traders thinking that the aggressive downtrend may be coming to an end. This week though the GLD has not managed to continue that bullish hint we saw previously. The GLD is essentially flat on the week having a nice start, but giving all of it back on Tuesday.
The astute investor will note the breakout this week in the banking sector (NYSE: XLF). For months many have questioned the weakness in banks but this Monday the XLF broke above 5 month highs in what many feel is the start of the banks participating in this recent market rally.
Finally, healthcare (NYSE: XLV) starts the week making another new high. The XLV has been one of the most impressive uptrends lately and clearly has attracted the funds of the larger investors. The movement seems to be slowing at the highs though which may be a hint at a pause or brief pullback.