20130301 Moving Average Breadth
What a week. Started with a brutal reversal then spent the rest of the week recovering. Hard to tell where we go from here, but there was certainly marks left in the breadth figures. That said, the damage is still shorter term in nature, it certainly could usher in more pullback. Another scenario is the strong prevailing trend overrides the breadth weakness and takes us back to highs. If the latter happens it will be worth looking for divergences in the 20sma and 50sma windows for signs that we might be ready for the larger correction everyone is looking for right here.
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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