Stocks have barely moved this week. You almost wouldn’t guess how much drama is swirling beneath the surface.
Major stocks like Facebook (FB), Amazon.com (AMZN) and Apple (AAPL) have drifted sideways or lower. Meanwhile former laggards in the energy, financial and retail sectors have pushed higher. Market Insights has already covered this trend, which results from optimism business that will soon return to normal.
Today we just wanted to share this chart comparing the SPDR Energy ETF (XLE) with FB. It covers the price action so far in 2021, with a 5-minute intraday interval. Notice how the two lines often move in opposite directions at the same time. Seldom does a chart so clearly illustrate money flowing from one part of the market to another.
