An end of week look at various sectors vs. SPY; i.e. the current status of their relative trends to the broad market.
Financials have broken down a bit on the daily. Who’s surprised? Bueller? If you read NFTRH you’re not. Energy is taking a hit. Who’s surprised? Beuller? If you read NFTRH you’re not. Okay, enough with the Bueller shtick. Healthcare remains in a solid relative daily downtrend, Industrials and Materials bounced a bit but are similar to H/C. And there again is Tech, never having broken down in its leadership despite calls for its demise to the contrary at various times in the media.
The weekly trends show that Financials leadership is only now coming into question and still debatable. Oh look, energy hit a moving average and dropped. Bueller? H/C trends down, relative to SPY. Industrials neutral, Materials neutral/bear bias and Tech… well, you know.
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