Info!! Sector Update For October 3Rd

Last week's sector review noted that "the electrical flow pullback should non last the showtime of a acquit swing, simply should last sufficient to inflict technical harm on what has been a really rigid marketplace since July." That technical harm was evident during the by week, every bit unopen to of the 8 S&P 500 sectors that I rail roughshod into downtrend modes inwards the proprietary Technical Strength measure. We tin dismiss run across the wide turnaround since the calendar week of 9/11: all sectors are either trading inwards downtrends or inwards neutral trending mode. Last week's weakness was peculiarly evident amidst the economically sensitive materials, industrial, in addition to technology shares. Amid concerns regarding reform, wellness attention stocks were likewise notably weak.

Here is how the sectors lined upwards every bit of Friday's close. Note that Technical Strength varies from +500 (strong uptrend) to -500 (strong downtrend), alongside scores betwixt -100 in addition to +100 signifying no major directional tendency.

MATERIALS: -240
INDUSTRIAL: -220
CONSUMER DISCRETIONARY: -80
CONSUMER STAPLES: -60
ENERGY: -160
HEALTH CARE: -280
FINANCIAL: -180
TECHNOLOGY: -240

Only the Technical Strength from the 2d calendar week of July was weaker than the acquaint readings, going dorsum to the marketplace lows inwards March. I operate out on to thought the recent highs every bit a momentum tiptop inwards the marketplace in addition to await the electrical flow intermediate-term correction to Pb to tests of the bull highs. At present, however, the marketplace is losing forcefulness calendar week over week, in addition to hence it makes feel to hold off for prove of bottoming earlier playing for the adjacent bull swing.
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