Daily and weekly views of various US sectors vs. SPY. The reminder is that this is not normal TA. It is just a way of gauging short and long-term sector trends relative to the broad US market.
On the daily chart Financials are slipping, in line with the over played interest rate view, handily right at our long-term Continuum limiters (1st two charts of this post). Energy remains plucky on the daily view. Healthcare is gently under performing. Industrials and Materials are both in some trouble. Tech is still up trending vs. the broad market.
The weekly shows Financials not dead yet, leadership-wise. Also, Energy is in a down, not up trend relative to SPY. Healthcare is as well. There are the Industrials and Materials failures. And there is good ship Big Tech, happily leading (I am short QQQ, but very aware of this leadership, which remains Tech and market positive). *
* However, the leader’s leader, the Semi sector has got some issues that may be showing an early negative indication.
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