20130405 Moving Average Breadth

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20130405 Moving Average Breadth

Equity markets started the quarter giving some back after ending the last at all time highs.  It was a picturesque way to end such a strong 1st quarter. However we had notices some weakening in breadth, but nothing to get overly concerned about.  I think that is still where we sit after this weeks action.  There are definitely lagging sectors like Materials and Technology, but those are also getting pretty oversold on the shorter measures while the longer term are still middle of the road.  Most sectors, however, are holding up pretty well on the longer measures.  We could certainly see more correction, but this does not look like a longer term breakdown is imminent at this point.

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

4-5-2013 Total Universe with SPYNext I split the universe into 10 custom broad sector indexes

4-5-2013 Consumer DiscretionaryConsumer Discretionary (325)

4-5-2013 Consumer Staples

Consumer Staples (91)

4-5-2013 Energy

Energy (132)

4-5-2013 Financials

Financials (316)

4-5-2013 Health Care

Health Care (199)

4-5-2013 Industrials

Industrials (252)

4-5-2013 Materials

Materials (148)

4-5-2013 Technology

Technology (338)

4-5-2013 Telecom

Telecom (24)

4-5-2013 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)
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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.