20130712 Moving Average Breadth

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20130712 Moving Average Breadth

The markets came out this week and proved to many this was more than window dressing or a holiday week ramp.  It was the end of a correction.  I mentioned to my partner a couple weeks back that I noticed in recent years turns have been near holiday weeks. Could just be a coincidence or maybe not.  This week we saw both expanding breadth and expanding volume as we made new highs.  It is hard to argue with action like that.  At this point most breadth figures are back in gear and getting near highs.  These highs are being confirmed almost across the board. Enjoy it, don’t fight it. Sure, being it is summer, we could see more volatility, but the structure is solid and markets are moving ahead with or without you. It’s your decision.

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

7-12-2013 Total Universe with SPYNext I split the universe into 10 custom broad sector indexes

7-12-2013 Consumer DiscretionaryConsumer Discretionary (325)

7-12-2013 Consumer Staples

Consumer Staples (91)

7-12-2013 Energy

Energy (132)

7-12-2013 Financials

Financials (316)

7-12-2013 Health Care

Health Care (199)

7-12-2013 Industrials

Industrials (252)

7-12-2013 Materials

Materials (148)

7-12-2013 Technology

Technology (338)

7-12-2013 Telecom

Telecom (24)

7-12-2013 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.