June 2018 Market Update

The S&P 500 was up 2.16% in May. YTD through the end of May the S&P 500 is up 1.18%. A couple markets to highlight before we review price, sentiment and valuation. First, technology stocks continue to significantly outperform the market with an incredibly strong performance in May. The Technology Select SPDR ETF, XLK, is up 9.65% YTD through the end of May.  Moreover, the Invesco S&P 500 Equal Weight Technology ETF, RYT,  is up 11.13% YTD.  On the flip side, foreign investing soured during the month with the Vanguard FTSE All-World ex-US Index ETF, VEU, down 1.99%. VEU enters June with slightly negative returns for 2018. Now let's review price, sentiment and valuation as we start June.