After weeks of the S&P 500 (SPY) trending higher, we are hitting the first rough patch in a while. It’s not showing up too much in the indices but we are seeing profit-taking in some of the big winners over the past couple of months. The oil price is currently at $77, down from an $85. This makes it feel great to have taken profits in the energy sector a few times during these last weeks. In this week’s commentary, I want to talk about some new developments in energy, some economic positives and update our market outlook. Read on below to find out more….Enjoy this version of my weekly comment published on November 18, 2021 by the POWR Stocks Below $10 newsletter.

Over the last week, the S&P 500 is up by about 1%, however this is masking weakness under the surface as shown by the which is down by 1.8%.

This is an obvious change from the behavior of the past few months, which saw outperformance in small- and medium-cap stocks that dominate the stock market below $10. But it is similar behavior to what we have experienced for the bulk of 2021 – strength in large caps while small and mid caps are range-bound.

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