Transcript
Well, hello, everybody, welcome to Thursday, really great day today, the S&P 500 was up almost 1.1%. Today, did great all day went up all day finished strong, all the things that we’d hoped for actually. And actually, most importantly, we hit an all-time high today, which I’ll show you, and I’ll show you why that’s important. So here is again, you know, Vanguard’s version of the S&P 500 that we’ve been looking at, here’s the downturn that we had last week, really, you know, for the whole week, we’ve made all of that back, and hit a new all-time high. And so what’s important now, you know, we’ve gotten through all of the resistance that we needed to get through. And this is actually a pretty short time period. It’s about a 5% drop, you know, this is a short time period between the two highs which are right here. So really important to have that happen.
One thing that did happen today is that clean energy as a whole kind of underperformed. So let me bring down a chart here. And we’ll, we’ll take a look at that real quickly. And I’ll show you what I’m seeing anyway, there. So we’ll start, I have six different clean energy pieces spread throughout all these portfolios. So it’s a different chart, here, we have a really a year by the week. So each one of these bars is a week. And you can see, you know, this is a CNRG, which is the SPDR Kensho, Clean Energy Clean Power, had a great run, obviously, you can see it’s kind of holding in here right now. Huge volume spike in this timeframe. So lots of shares are changing hands there, it’s building a fantastic base. But this is what I look at mostly, and this is the relative strength. And so this blue line, you know, above the red line means that it’s doing better than the S&P 500. And you can see, you know, up until about June, it was just kind of matching the S&P 500. And then it took off, mostly had to do with probably, you know, what was happening here politically, as far as that goes, but it had a fantastic run right in here. And so it’s just been kind of, you know, going slower.
Right now, I like this, I mentioned about four weeks ago, that I thought that this run that it had here, for example, is just too much. And really, it needed to sit and to build a base, before it could take off again, if it’s going to do so you can see that here, you know, we’ve got several different pieces, here’s the what I call ICLN, which is the iShares Global Clean Energy, again, you know, huge up week here, and now kind of altogether about four weeks of sideways, you can see here in the relative strength, that this is actually matching the S&P 500, which is great, even while it’s building a base, it’s still you know, floating upward some. So although today wasn’t, you know, a great day for clean energy, I still think it has some really good potential. It is what is being talked about just so much right now. And so we’ll see what happens, you know, at the moment is just building a base if it falls apart, you know, we’ll deal with that.
But I think it won’t, and you know, so hopefully that works. And we’ll you know, see it take off at some point here in the future and really help us as far as that goes. So, good day, really solid performance for the market. I think we can continue to kind of go forward. I do think that, you know, we have to watch for what happened with a GameStop type concept. I don’t think that’s gone at this point in time, unfortunately. But it’s probably mitigated a lot more than it was because now people know what’s coming. And so anyway, that’s that’s what’s happening right now. Very good day, and I look forward to talking to you tomorrow. Thank you very much.