20131101 Moving Average Breadth

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20131101 Moving Average Breadth

Markets continued to work sideways until about mid-week when they decided to rock the boat a little.  Most damage came in small caps, so we are likely to see it more in these charts than the major indexes except maybe the $IWM.  One thing I noted was Technology, Health Care and Consumer Discretionary 20sma readings never made it back over 80% on this run so far and look to be rolling over.  Could signal more softness int these areas as money rotates elsewhere.  There is notable strength in the readings from Utilities, Consumer Staples and Industrials.  Overall though, reading are weakening but not falling out of bed.

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

11-1-2013 Total Universe with SPY

Universe Composite Index

11-1-2013 Universe

Next I split the universe into 10 custom broad sector indexes

11-1-2013 Consumer Discretionary

Consumer Discretionary (325)

11-1-2013 Consumer Staples

Consumer Staples (91)

11-1-2013 Energy

Energy (132)

11-1-2013 Financials

Financials (316)

11-1-2013 Health Care

Health Care (199)

11-1-2013 Industrials

Industrials (252)

11-1-2013 Materials

Materials (148)

11-1-2013 Technology

Technology (338)

11-1-2013 Telecom

Telecom (24)

11-1-2013 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.