Info!! Sector Update For November 8Th

Last week's sector update constitute a neutral short-term trending means with the 8 S&P 500 sectors that I follow via a handbasket of twoscore stocks (five highly weighted issues inside each sector). After briefly turning bullish, the two-day reject of Midweek together with Th returned many of the sectors to their short-term downtrends. Here's how nosotros stand upward on the Technical Strength measure, with the percent of stocks inwards each sector trading higher upward their 20-day moving averages--as assessed yesteryear the fantabulous Decision Point site--in parentheses:

MATERIALS: -380 (23%)
INDUSTRIAL: -200 (16%)
CONSUMER DISCRETIONARY: -140 (13%)
CONSUMER STAPLES: -140 (29%)
ENERGY: -60 (38%)
HEALTH CARE: -140 (43%)
FINANCIAL: -280 (21%)
TECHNOLOGY: -280 (18%)

We tin give notice come across that recessionary concerns are weighing on raw materials stocks together with applied scientific discipline shares. Financial stocks, later on seeing a company bounce thank y'all to authorities support, convey since fallen dorsum into a short-term downtrending mode.

The percent of stocks higher upward their 20-day moving average captures trending on a to a greater extent than intermediate-term fourth dimension frame. Note that sectors that bounced good during the recent marketplace rise, such equally wellness tending together with energy, nevertheless demo fewer than one-half of their components trading higher upward their moving averages. Particular weakness is evident with consumer discretionary, technology, together with industrial sectors--all reflecting recessionary concerns.
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