The recent theme of individual stock & sector selection vs. trading the broad market that I’ve been harping on continues to be the path of least resistance for swing trading. All but one of the 15 property & casualty insurance companies highlighted in Friday’s video are trading solidly in the red today, with the sector making an impulsive break below support.
P&C Insurance Sector daily Sept 5th
The reinsurance sector is already challenging key support on the largest single-day decline in some time. Even if we bounce here, a breakdown with another 6% downside in the sector appears likely. As with the P&C insurance sector, all but one of the 10 reinsurance companies that were highlighted in Friday’s video are trading solidly in the red today.
Reinsurance Sector daily Sept 5th