20130524 Moving Average Breadth
For the first time in a while the markets came under attack. Most of it came in one day, but that one day made everyone stop and think a bit more. Many are calling for a change in character, but I am not sure yet. So far neither is the breadth picture. The shorter term moving averages are weakening some, but the 200sma are unscathed even in Utilities which is telling. We certainly could see more corrective action, but until the longer term averages start showing some damage I am not getting too worried.
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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