With Friday's weakness, nosotros perish on to encounter deterioration inwards the Technical Strength measure, which quantifies short-term trending demeanour alongside private stocks. Here's how Technical Strength is shaping upwards every bit a component of S&P 500 sector, combining the ratings from 5 highly weighted issues inside each sector:
Materials: -80
Industrials: -120
Consumer Discretionary: -100
Consumer Staples: +320
Energy: 0
Health Care: -40
Financial: -320
Technology: -180
We i time once to a greater extent than encounter Financials every bit the weakest sector, disappointing given the recent Fed attempts at stablization. The strongest sector past times far is Consumer Staples, which suggests a flying to relatively recession-resistant, defensive names. The to a greater extent than growth-oriented engineering scientific discipline issues are weak.
If nosotros hold off on a longer fourth dimension frame alongside all S&P 500 stocks inside the diverse sectors, nosotros detect that solely 12% of Financial issues are trading higher upwards their 200-day moving averages together with solely 22% higher upwards their 50-day averages. Conversely, we're seeing 51% of Consumer Staples names trading higher upwards their 200-day benchmarks together with 67% higher upwards their 50-day averages. We're likewise seeing greater forcefulness alongside Energy shares (64% higher upwards 200-day averages; 47% higher upwards 50-day averages) than Technology issues (11% higher upwards 200-day averages; 29% higher upwards 50-day MAs) or Consumer Discretionary shares (13% higher upwards 200-day MA; 28% higher upwards 50-day MA).
Defensiveness appears to endure the watchword of the day, with investors continuing to shun the Financials together with preferring the security of companies that sell Staples over those relying upon Discretionary spending.
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Links to My Money Flow Analyses past times Sector
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