This week was just outright strong. Any weakness was quickly reversed by the healthy underlying bid. The breakaway gaps on Tuesday should have been the clue. Breadth also recovered well this week heading back towards the highs. Of course we will be looking for divergences, but they aren’t divergences until we see them rollover.
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)
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.
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(All market data above are derived from Stockcharts.com, Esignal, and Reutersdatalink)
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