Market was up after yesterday's sell-off. It's safe to say that the short-term correction is over. Market will continue its uptrend. And most noticeably, S&P closed at 942, a tad below EMA200 of 943. It looks promising to break it because yesterday's bear got defeated and bull will keep charging. Early biz cycle sectors resumed leading positions as industrials, materials, energy and tech rose. Financials also rose. But I wouldn't care. 炒作bank stocks的时候已过去, 还有什么题材可炒作? 当回归fundamentals, they got the worst fundamentals. They will underperform market in this bull market. For reference, just check tech stocks after the Dot Com bubble. There was a huge rally in 02 when that bear market was over. Then tech remained underperform market during the bull market from 03-07. So I won't touch any banking stocks at all. There are so many good stocks in industrials, materials, energy and tech sectors. I'm not saying banking won't rise, they just won't bring you any excitement.
