The road traveled last week.. $TF_F, $SPX, $BKX, Semis

This is our market map for the week in 30 minute slices.  On Monday the Semis took off on Intel expectations which did not disappoint and led to a rally top on the Wednesday open (about 4.8% weekly gain) that sold off for the rest of the week and dissolving to only a 0.6% gain for the Semis.  The banks too hit their highs of the week intraday on Wednesday but the Citi news accelerated the selloff and the banks ended the week in last place with at –4.7% gain.  None of the major indices were able to hold on to weekly gains closing between –1.5% and –0.6% losses for the week except for the weaker Russell 2000 which put in a dismal –3% for the week.

 

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