Weekend Review and Watchlist

Overview

The major indices started poorly but recovered steadily during the week, finishing very strongly Friday with the S&P and NASDAQ recording fresh highs on a weekly close basis, along with the NYSE Composite, and Midcap Index. Breadth remains supportive, and bullish sentiment is elevated for advisors, but is far from euphoric and well below historical averages among investors.

Here's the S&P and NASDAQ, followed by NYSE breadth:-

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Sector Analysis

Technology is joined by Financials at the top this week. Those two are followed by Materials, Industrials, and Consumer Discretionary. All are above their 20, 50, and 200-day MAs.

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Next comes Energy, which still appears to be consolidating its longer-term uptrend. It remains below its 20 and 50-day MA, but above the 200.

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Healthcare improved significantly to reclaim its 200-day, with Consumer Staples not far behind, while Utilities and Real Estate bring up the rear.

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Alpha Capture Portfolio

An uneventful week overall, with our portfolio finishing unchanged on the week vs +0.1% for the S&P.

That keeps it at +3.5% YTD vs +2.6% for the S&P.

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Watchlist

Our watchlist continues to be dominated by the leading sectors of the past few months, mostly Financials, Industrials, Technology, Materials/Energy.

Here's a sample from the full list of 24 names:-

$BAC

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$MS

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$LNC

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$DHR

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$ATW

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$HCA

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$IDCC

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$DIS

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Posted to Alpha Capture on Feb 04, 2017 — 1:02 AM

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