Info!! Sector Update For June 21St

Last week's sector review concluded that, despite a closing high inward the S&P 500 Index, many sectors were non participating inward the strength, making it hard to justify chasing strength. That regard turned out to hold upward helpful, every bit nosotros pulled dorsum sharply final calendar week together with moved dorsum into May's trading range. As nosotros tin encounter above, nigh of the sectors lost Technical Strength (a short-term stair out of trending) final week; exclusively the relatively defensive Consumer Staples together with Health Care sectors showed signs of buying calendar week over week. With the pullback inward commodities, the Materials together with Energy sectors turned bearish; nosotros too saw fresh bearish readings amid economically sensitive Industrial together with Consumer Discretionary shares.

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

MATERIALS: -200
INDUSTRIAL: -160
CONSUMER DISCRETIONARY: -180
CONSUMER STAPLES: +20
ENERGY: -200
HEALTH CARE: +260
FINANCIAL: -40
TECHNOLOGY: +80

Recall that Technical Strength yesteryear sector varies from +500 (strong uptrend) to -500 (strong downtrend), amongst values betwixt -100 together with +100 signifying no meaningful directional tendency. Several of the sectors are inward neutral trending mode; the others are non showing rigid downtrends at this time. For straightaway I'm viewing us inward a corrective style inside a wide trading attain defined yesteryear the May lows together with the June highs. Given June's extended topping, I would non hold upward surprised to encounter us examination those May lows going forward. I volition hold upward tracking relative sector performance--defensive vs. increase sectors--to approximate regard together with the likelihood of retracing the belatedly May/early June strength.

Per usual, I volition hold upward updating the indicators, including trending deportment across my handbasket of xl stocks taken from the inward a higher house sectors, via Twitter (follow here).
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