20130809 Moving Average Breadth

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20130809 Moving Average Breadth

Looks like last week’s break to the upside was a little premature. Still feels like consolidation as the bears can’t seem to take charge.  The breadth reading are still softening, but mostly on the 20sma reads.  The 50sma and 200sma reads still look very solid to me.  All this suggests we could see more sideways action that might dip a little deeper, but if so those 20sma readings are likely to get oversold quickly. If this happens how well the other two readings hold up will be the key.

I will continue to post both the $SPY and custom index for a few weeks, but will probably drop the $SPY version eventually.

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

8-9-2013 Total Universe with SPYNew Total Universe Custom Index

8-9-2013 Total UniverseNext I split the universe into 10 custom broad sector indexes

8-9-2013 Consumer DiscretionaryConsumer Discretionary (325)

8-9-2013 Consumer Staples

Consumer Staples (91)

8-9-2013 Energy

Energy (132)

8-9-2013 Financials

Financials (316)

8-9-2013 Health Care

Health Care (199)

8-9-2013 Industrials

Industrials (252)

8-9-2013 Materials

Materials (148)

8-9-2013 Technology

Technology (338)

8-9-2013 Telecom

Telecom (24)

8-9-2013 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.