This week on Sectors vs. SPY the relative trends say…
Daily Financials, Energy and Materials are down. Industrials are breaking down and Technology continues its potential roll over.
Weekly agrees that relative trends are down in Financials, Energy, Materials, and with this whipsaw move, Industrials are all down. The trend in H/C continues to look best unless Tech holds its robo-trend, which it is flirting with abandoning.
Relative REITs are trending down, Utes up with a bull bias, Transports sideways, Biotech fading of late, Medical Device is on trend and Retail has trended down since June.
REITs are badly down trending on the weekly, Utes only made a pop and remain in a downtrend that may be flattening out, Tranny is sideways and weak, Biotech down, Medical Device up and relative Retail in danger of losing a longer-term uptrend from a year ago.
With this group of basket cases you can see why I just bought SPY when I decided to long the big market plunge last week.
Subscribe to NFTRH Premium (monthly at USD $33.50 or a 14% discounted yearly at USD $345.00) for an in-depth weekly market report, interim market updates and NFTRH+ chart and trade setup ideas, all archived/posted at the site and delivered to your inbox.
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 and get even more by joining our free eLetter. Or follow via Twitter @BiiwiiNFTRH, StockTwits or RSS. Also check out the quality market writers at Biiwii.com.
