Info!! Sector Update For November 22Nd

Last week's sector review noted trace with large cap stocks, simply weakness inside specific sectors in addition to with small-scale caps. This by calendar week failed to come across a broadening of the marketplace rally, in addition to nosotros moved lower every bit the calendar week progressed. That left the 8 sectors that I runway weekly (above) inward a mixed Technical Strength status.

(Recall that Technical Strength is a proprietary short-term mensurate of trending in addition to varies from a real bullish +500 to a real bearish -500, with scores betwixt -100 in addition to +100 indicating no important directional tendency).

What nosotros come across is that Health Care stocks are the entirely grouping inward a rigid uptrend; Financial shares rest inward a downtrend. Other sectors are either non-trending or weakly trending higher. The greatest week-over-week turn down inward trace occurred with Consumer Discretionary in addition to Energy stocks, every bit economically-sensitive sectors weakened overall.

Here is how the sectors looked every bit of Friday's close:

MATERIALS: 220
INDUSTRIAL: 120
CONSUMER DISCRETIONARY: 80
CONSUMER STAPLES: 220
ENERGY: -40
HEALTH CARE: 320
FINANCIAL: -200
TECHNOLOGY: 80

We tin come across from the nautical chart higher upward that Financial stocks accept been inward a negative trace fashion for several weeks running. This bears watching: it is odd for a sector to non demo greater rotation during a menstruation of by in addition to large line of piece of employment solid index prices. Such persistent weakness suggests that investors may live on anticipating farther bad tidings from this substitution sector.

Overall, however, the sector readings are neither meaningfully overbought or oversold. They're consistent with a consolidating/correcting marketplace that has moved significantly higher since slow October, simply are non at levels that accept been seen at recent intermediate-term bottoms. As always, I volition live on tracking marketplace trending via my handbasket of stocks each morning time prior to the marketplace opened upward via Twitter (check out this post.
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