No Dice

Although my suspicions of a shocking trend day lower in favor of bears looked promising early on in the session, the multitude of breaking news headlines about the imminent of all imminent stimulus deals seems to still have a notable effect on whipsawing the market back higher at the most (in)opportune of times. Recent IPOs like SNOW and PLTR are catching bids this afternoon, as small caps try to lead the tape back higher alongside the suddenly-monstrous SNAP. 

Overall, we need to see follow-through from bulls off the $345 level on the SPY for me to get behind a new leg higher. 

However, I do indeed see value in the consumer staple sector, as discussed the last few weekends with Members, in the XLP ETF.

Conagra brands, below, is just one example of a fine chart in an overlooked but strong sector. 

Any inkling of a second wave of the virus and/or no stimulus deal should see the staples benefit because, well, they are staples after all. You gotta have 'em, in any sort of economy.