Interesting week to say the least. I can’t really pick a clear winner. The bears did gain a few yards, but so far have yet to capitalize on these opportunities and we don’t know yet if this time will be any different. All this as the markets remain within a few percentage points of the highs. The breadth readings are in no man’s land right now so either side could seize control but my overall read would be it is still the bulls to lose.
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)
Health Care (199)
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.