This week’s snapshot of various sectors’ trends vs. SPY…
Daily Financials relative to SPY have reclaimed the SMA 50 with the trend down biased. Energy is consolidating, H/C is still pretty good and trying to change the trend, Industrials and Materials trend down and Tech trends up while trying to fix it’s little breakdown.
The weekly view has Financials below the formerly supportive moving average, Energy down trending, H/C trending down but trying to fix that, Industrials and Materials in breakdown mode and Tech firmly leading still.
Daily R/E’s relative trend looks suspect, Utes are flat as are Transports. Biotech is still somewhat constructive, Medical Device continues to take a needed breather and Retail is consolidating below the SMA 50 but still in a mild short-term uptrend.
Weekly relative R/E is in a downtrend as are the Utes. Tranny is sideways, Biotech still trends down, Medical Device up and Retail is constructive.
There you have it; this week’s look at several sectors relative to SPY.
Subscribe to NFTRH Premium for an in-depth weekly market report, interim updates and NFTRH+ chart and trade ideas. You can also keep up to date with plenty of actionable public content at NFTRH.com by using the email form on the right sidebar. Or follow via Twitter @BiiwiiNFTRH, StockTwits or RSS. Also check out the quality market writers at Biiwii.com.