Another tough week for the equity markets brought the measures closer to bottoming levels. The many hooks on Friday are worth noting for now. I will be watching to see how long they stay down here in oversold as well as where they peak in a bounce scenario to give some clues on whether we have seen a major market top or not.
First the Total universe of 1960 companies posted over the $SPY
Next I split the universe into 10 broad sectors
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.
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(All market data above are derived from Stockcharts.com, Esignal, and Reutersdatalink)
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