Time again for our Spies on US sector relatedness to… SPY.
Financials make a move to look a little less impaired, Energy still appears to be a negative divergence to the oil price, H/C trends up from May, Industrials are getting interesting, Materials are bouncing but still firmly down vs. SPY, and Tech is functioning okay but its relative trend is flat since May.
The weekly shows impaired Financials, Energy, Industrials and Materials with Tech still completely in charge.
REITs are now suspect on the daily trend as are the Utes. What do these say about interest rates? Tranny is okay but sideways, Biotech clings to an uptrend from May, Medical Device re-bulls and Retail fades.
The weekly spies show REITs, Utilities and Biotech trending down. Tranny sideways as usual, Medical Device still wildly popular among the momos, and Retail retaining a decent look (but needs to hold the moving average and turn it up).
Tune in next week for another exciting episode of… vs. SPY!
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