20130215 Moving Average Breadth

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20130215 Moving Average Breadth

These markets continue to show respectable strength.  $IWM is marching higher as $SPY $QQQ built flags this week.  The shorter MAs continue to be soft, but the others are not responding much.  It is also interesting to me to hear all the comments about Technology lagging.  That is not what my chart says. looks like a nice breakout to me. All in all, it still feels to me like we are correcting here…as surprising as that sounds to many.  There is no requirement that it shows up with a big draw down, instead we could see sporadic raids that last 1-2 days as long as this breadth strength persists.

First the Total universe of 1898 companies posted over the $SPY

2-15-2013 Total Universe with SPYNext I split the universe into 10 custom broad sector indexes

2-15-2013 Consumer DiscretionaryConsumer Discretionary (325)

2-15-2013 Consumer Staples

Consumer Staples (91)

2-15-2013 Energy

Energy (132)

2-15-2013 Financials

Financials (316)

2-15-2013 Health Care

Health Care (199)

2-15-2013 Industrials

Industrials (252)

2-15-2013 Materials

Materials (148)

2-15-2013 Technology

Technology (338)

2-15-2013 Telecom

Telecom (24)

2-15-2013 Utilities

Utilities (73)

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)
The information set forth herein was obtained from sources which we believe to be reliable, but we do not guarantee its accuracy.  Neither the information, nor any opinion expressed constitutes a solicitation by us of the purchase or sale of any securities or commodities. I or my affiliates may hold positions or other interests in securities mentioned in the blog.  Full Disclaimer
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About Author

Tommy

is a Chartered Market Technician (CMT) and Certified Financial Planner (CFPr) in Greensboro Georgia (Outside Atlanta). Founding partner of Barber Lackey Financial Group, LLC, a Registered Investment Advisor. However, this blog is not affiliated with BLFG and does not make recommendations to buy sell or hold any securities.

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