The stock market battle between the bulls and the bears continued last week and the bulls again came out on top. Last week, the S&P futures were under some serious selling pressure, as the New York Stock Exchange opened lower Wednesday and Thursday. Both days, the stock market improved from the early weakness, and the market actually closed higher on Wednesday. XLY is up 7.9% YTD and gained 1.2% last week, four times better than SPY, which is characteristic of a market leader. The higher weekly close last week in the overall market was what I was looking for last weekend in “The Week Ahead: Are You Still Worried About A Bear Market?”.

Source: Forbes May 26, 2018 22:30 UTC