20130328 Moving Average Breadth

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20130328 Moving Average Breadth

Mr Market had no intentions of ending the quarter with anything but a run at the highs.  He won and many bears lost this week.  The tepid nature of the markets had many betting it was time for the pullback.  Another week comes to a close without those prophecies coming to pass.  There are many sectors making new highs with the breadth figures lagging at this point.  it is these kinds of moves that form the divergences that we will be watching for.  But also realize what is happening during those divergences.  The larger Cap names are taking over and showing more strength than the smaller names.  That is a sign of a maturing market, but as we saw in the 90’s it can go on for quite a while.

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

3-28-2013 Total Universe with SPYNext I split the universe into 10 custom broad sector indexes

3-28-2013 Consumer DiscretionaryConsumer Discretionary (325)

3-28-2013 Consumer Staples

Consumer Staples (91)

3-28-2013 Energy

Energy (132)

3-28-2013 Financials

Financials (316)

3-28-2013 Health Care

Health Care (199)

3-28-2013 Industrials

Industrials (252)

3-28-2013 Materials

Materials (148)

3-28-2013 Technology

Technology (338)

3-28-2013 Telecom

Telecom (24)

3-28-2013 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


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.