Info!! Sector Update For November 15Th

Last week's sector update establish that the 8 S&P 500 sectors that I follow had turned bearish inward their short-term trending. Here's how we're looking at the cease of this by week, based upon the Technical Strength measure.

MATERIALS: -320
INDUSTRIAL: -200
CONSUMER DISCRETIONARY: -240
CONSUMER STAPLES: -160
ENERGY: -140
HEALTH CARE: -120
FINANCIAL: -300
TECHNOLOGY: -300

We tin come across that, despite volatile moves to the upside as well as downside this by week, the trending demeanour of the sectors is pretty like to final week. While we've seen curt bursts of impressive curt covering/buying, nosotros haven't even as well as hence been able to plough that into a sustained uptrend. As of the unopen on Friday, solely 13% of SPX stocks were higher upwards their 20-day moving averages, according to Decision Point. One reflection of the market's weakness this by week: on Thursday, 155 out of the 500 S&P stocks made fresh 52-week lows. That remains lower than the 228 lows registered inward belatedly Oct as well as much lower than the over 400 (!) SPX lows that nosotros saw inward the minute calendar week of October.
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