20130705 Moving Average Breadth
The short holiday week was full of fireworks, just not here in the US. While the rest of the globe was having bottle rocket wars, our markets seemed more like a well choreographed light show designed to please the onlookers. Equities started the week with a gap higher, danced their way through the middle to end with a grande finale like run higher into Friday’s close. The volume was slow, but the show was definitely worth seeing. I especially liked the improvement in so many of the breadth readings. Of course, I am talking equities here, bonds were determined to get in on the bottle rocket wars and they paid the price.
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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