20130906 Moving Average Breadth
After last week going to the bears, they couldn’t get the follow through they needed to seal the deal. There is certainly still a chance the regain it, but this week we saw some positive steps by the bulls to put this correction to rest. We are not there yet, but there are signs starting to show. One of those signs it the improvement int the breadth charts below. Again, this could just be a blip, but looking left on most of these charts you will see we have some set-ups that have lead to bottoms intermediate bottoms in the past. Only time will tell whether this is one of them, but I am encouraged by the action as well as the sectors that are starting to perk up.
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
Universe Composite Index
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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