Overview
The market was unchanged in a relatively quiet week with the Thanksgiving holiday, but I felt the turnaround from the lows on Tuesday was impressive as was continued resilience in the face of supposedly negative economic numbers and news stories.
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The best move was perhaps in small caps, shown here via $RUT, which finished at 3-month highs.
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That was arguably fueled by the continued recovery in biotech shown here via $IBB relative to $SPY:-
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Alpha Capture Portfolio
The Alpha Capture portfolio edged higher by 0.14% this week vs 0.04% for the S&P.
That takes it to +3.2% YTD vs +1.5% for the S&P.
There were no fresh signals this week and we remain fully allocated with 13 names and around 7.2% total open risk.
Sector Overview
Consumer Discretionary ($XLY) and Technology ($XLK) continue to lead the way:-
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They're followed by Consumer Staples ($XLP) which has staged a strong recovery over the last couple of weeks:-
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Then comes Financials ($XLF) and Industrials ($XLI):-
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Of the others, Healthcare ($XLV) is again testing the underside of its 200-day, Materials ($XLB) continue to consolidate recent gains, Energy ($XLE)'s recovery has stalled, and I wouldn't recommend Utilities ($XLU) even to my worst enemy.
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Watchlist
With the holiday-shortened week there weren't many changes to the overall mix of our watchlist, but given we already have a full portfolio I've reduced the list slightly in an attempt to concentrate on only the strongest names and most favorable setups.
Here's a sample from the full list of 25 names:-
$SNA
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$CBM
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$RMD
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$NVDA
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$GT
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$ORLY
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$GPN
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$HD
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