The markets took a hit to start December after closing out another strong month, but the bears couldn’t hold the ball long as the markets started to stabilize around mid week and ended strong on Friday. Looking at the breadth charts below, not a whole lot of damage was done in most important sectors, so a challenge of the highs looks likely and very possibly more. Stay tuned.
Don’t forget to check out the new weekly feature Probing The Universe
I have decided to leave the $SPY chart on just to give a comparison to the universe.
First, the Total universe of 1898 companies posted over the $SPY
Universe Composite Index
Next I split the universe into 10 custom broad sector indexes
Consumer Staples (91)
Health Care (199)
These are custom indexes so you cannot invest directly in them, but there are plenty of ETFs available for each sector. For me personally this is another form of relative strength, just with a broader lens .
Good Luck! It is there for you to make.