Yesterday's gain snapped a five-day losing streak
S&P 500 futures are up 17 points to follow on from yesterday's 10-point gain. The bulls have had a hard time gaining traction this month. The index had fallen for five straight days before yesterday's small gain. In yesterday's trading, the overall mix was a bit concerning as early gains faded.
The Nasdaq finished the day fractionally lower in what was its fourth straight decline.
More broadly, here's an interesting seasonal chart from Ren Mac showing that we're at the start of a period of cyclicals outperforming defensive stocks. The Russell 2000 rose 0.6% yesterday.
