Last week's sector update institute a highly oversold province of affairs across all the S&P 500 sectors followed. With the powerful rally this week, the Technical Strength numbers for the sectors accept changed, as well as nosotros are seeing patterns of relative forcefulness as well as weakness alongside the sectors:
MATERIALS: -120
INDUSTRIAL; -20
CONSUMER DISCRETIONARY: +60
CONSUMER STAPLES: 0
ENERGY: +280
HEALTH CARE: -180
FINANCIAL: -120
TECHNOLOGY: -80
We tin flaming come across that the sectors are nowhere close overbought, simply are much closer to neutral trending levels inward their technical strength. The nearly interesting shift is inward energy, which has turned decidedly bullish. I'm watching commodities inward general, gilded as well as unloose energy inward particular, vis a vis the U.S. dollar, equally the authorities progresses inward its shift toward quantitative easing.
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