Reply To: Traders Market Weekly: Another Year, Another Reset


All 11 S&P 500 sectors logged gains today with mega cap leadership pushing the communication services (+2.7%), information technology (+2.6%), and consumer discretionary (+2.6%) sectors to the top of the leaderboard.

On the flip side, the countercyclical consumer staples (+0.4%) and utilities (+0.8%) sectors fell to the bottom of the pack.

Entering today’s session, Tesla (TSLA 121.82, +9.11, +8.1%) was down 42% for the month, Apple (AAPL 129.61, +3.57, +2.8%) was down nearly 15%, and the Vanguard Mega Cap Growth ETF (MGK) (+2.5%) was down 11.3% in December. Many stocks saw similar price action, which led to the broad-based rally effort today. Advancers led decliners by a greater than 5-to-1 margin at the NYSE and a greater than 4-to-1 margin at the Nasdaq.