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
Next I split the universe into 10 custom broad sector indexes
Consumer Discretionary (325)
Consumer Staples (91)
Energy (132)
Financials (316)
Health Care (199)
Industrials (252)
Materials (148)
Technology (338)
Telecom (24)
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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