An update of various US sectors vs. SPY. Daily charts are black and weeklies are green. A reminder that on these charts it is the trends that matter, not so much support/resistance or chart patterns.
Daily Technology leadership took a positive turn last week, although Friday’s candle was actually flat. But it had a positive week overall. Everyone else holds the daily downtrend with Healthcare and Materials candidates to change the intermediate trend.
Everybody’s down and out vs. SPY on the weekly view except for Tech, which remains solid in its leadership.
REITs suddenly do not look so good on a relative basis although the trends are still up. Utes as well. Transports are a market negative if Dow Theory still matters and Biotech is under pains of Trump’s political pressure (a good thing for all but Bio investors, IMO). Medical Device, which I’ve taken my profits on, is still in the leader’s seat and Retail robo-trends down.
REITs, Utes and Medical Device continue to trend up relative to SPY on the weekly. Tranny, Bio and Retail are brutal.
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