Info!! Sector Update For November 1St

With the market's sudden bounce this past times week, I idea I'd accept a fresh await at the major S&P 500 sectors as well as their trending behavior. The handbasket of stocks that I follow include v highly weighted issues from each of viii sectors. I purpose a stair out that I telephone band Technical Strength equally a means of quantifying trending behavior; it is somewhat akin to the gradient of a goodness of agree regression line. Ratings nigh aught propose no trend; a perfect uptrend would last scored +100, as well as a perfect downtrend receives a -100. Since I amount the scores of the v stocks for each sector to derive a tendency rating for that sector, a maximum (perfect uptrending) score would last +500; a minimum (perfect downtrending) score would last -500; as well as a neutral score would last betwixt -100 as well as +100.

For the calendar week ended 10/31/08, nosotros had 23 stocks inward the handbasket trading inward uptrends, 5 neutral, as well as 12 inward downtrends. This is a marked improvement from final week, when--at ane point--all xl stocks traded inward downtrends.

Here are the summed ratings past times sector:

MATERIALS: -180
INDUSTRIAL: +120
CONSUMER DISCRETIONARY: +200
CONSUMER STAPLES: +40
ENERGY: 0
HEALTH CARE: +60
FINANCIAL: -20
TECHNOLOGY: +20

What nosotros tin encounter is that almost the sectors are trading inward a relatively neutral mode. Consumer discretionary shares, which had been amid the almost beaten downwards during the decline, induce got rebounded relatively good during the past times week. Materials stocks proceed a chip weaker than the other sectors, reflecting continued recessionary concerns. I volition last tracking these numbers closely to encounter if nosotros tin interruption out of the neutral condition to the upside, or if the recent forcefulness is solely business office of a larger as well as longer bottoming procedure for this market.
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