20131025 Moving Average Breadth

25
Oct 13
0

20131025 Moving Average Breadth

More sideways than up for most of the major indexes, but it wasn’t down. Breadth is still holding very strong. Even Utilities breadth readings are strong. I am fine with more of this action even a little back fill wouldn’t be terrible, but so far I don’t see any justification to expect much more. It certainly could be the top, but so far this year that has been an exhausting exercise in futility. Yes, it will work one of these times, I just prefer a little more evidence before going there.

Don’t forget to check out the new weekly feature Probing The Universe

I have decided to leave the $SPY chart on just to give a comparison to the universe.

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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(All market data above are derived from Stockcharts.com, Esignal, and Reutersdatalink)

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20131025 Moving Average Breadth

Oct 13

0