20130830 Moving Average Breadth

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20130830 Moving Average Breadth


The bears took control the last week of summer while many were on vacation. The markets just didn’t have any catalyst to move higher.  I continue to watch the breadth structure as it gets oversold on the short term measures, deteriorates on the intermediate term, but is holding strong long term.  This still suggest correction, but doesn’t tell us how far or long it goes.  Defenses should be up right now, but also a keen eye on opportunities as it just hasn’t paid to bet on a big move lower this year and sentiment is getting bearish quick. That said, there is still room to back fill in the larger trend before too much worry.  We should get a few clues next week as Wall Street starts coming back from vacation.

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

8-30-2013 Total Universe with SPY

Universe Composite Index

8-30-2013 Universe

Next I split the universe into 10 custom broad sector indexes

8-30-2013 Consumer Discretionary

Consumer Discretionary (325)

8-30-2013 Consumer Staples

Consumer Staples (91)

8-30-2013 Energy

Energy (132)

8-30-2013 Financials

Financials (316)

8-30-2013 Health Care

Health Care (199)

8-30-2013 Industrials

Industrials (252)

8-30-2013 Materials

Materials (148)

8-30-2013 Technology

 Technology (338)

8-30-2013 Telecom

 Telecom (24)

8-30-2013 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.