20130913 Moving Average Breadth

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20130913 Moving Average Breadth

The major indexes had another good week and the further it got the more reasons I heard the end is near.  Strangely that came along with better breadth readings and some decent breakouts that held.  It certainly wasn’t a good week for every stock, but looking at these charts we did see continued improvement.  It looks more like the markets are prepping for another breakout more than a collapse. Well, actually the $QQQ is already there.  A quick look at the $SPY and my custom universe shows we are consolidating in a tight flag just below the highs.  It can break either way, but the pattern favors an upward one.  That said, even if we do pullback more, the markets continue to be very resilient and should be respected.

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

9-13-2013 Total Universe with SPY

Universe Composite Index

9-13-2013 Universe

Next I split the universe into 10 custom broad sector indexes

9-13-2013 Consumer Discretionary

Consumer Discretionary (325)

9-13-2013 Consumer Staples

Consumer Staples (91)

9-13-2013 Energy

Energy (132)

9-13-2013 Financials

Financials (316)

9-13-2013 Health Care

Health Care (199)

9-13-2013 Industrials

Industrials (252)

9-13-2013 Materials

Materials (148)

9-13-2013 Technology

Technology (338)

9-13-2013 Telecom

Telecom (24)

9-13-2013 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.