20130906 Moving Average Breadth

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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

9-6-2013 Total Universe with SPY

Universe Composite Index

9-6-2013 Universe

Next I split the universe into 10 custom broad sector indexes

9-6-2013 Consumer Discretionary

Consumer Discretionary (325)

9-6-2013 Consumer Staples

Consumer Staples (91)

9-6-2013 Energy

Energy (132)

9-6-2013 Financials

Financials (316)

9-6-2013 Health Care

Health Care (199)

9-6-2013 Industrials

Industrials (252)

9-6-2013 Materials

Materials (148)

9-6-2013 Technology

 Technology (338)

9-6-2013 Telecom

 Telecom (24)

9-6-2013 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.