20131108 Moving Average Breadth

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20131108 Moving Average Breadth

Things were plugging along fine until Thursday….well at least that is what it looked like in the Major indexes (maybe with the exception of $IWM); then Thursday came and the bears finally had a day to be proud of.  Of course, come Friday all is well with the world again as we have seen so many times over the last year.  Sure one of these will actually be the top, but I expect it to show up in the breadth work first, not after the fact.  The deterioration we noted last week and even the add on this week still looks very corrective to me.  At major tops the percent above the 200sma usually has already started deteriorating and so far this time we are not seeing that.

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

11-8-2013 Total Universe with SPY

Universe Composite Index

11-8-2013 Universe

Next I split the universe into 10 custom broad sector indexes

11-8-2013 Consumer Discretionary

Consumer Discretionary (325)

11-8-2013 Consumer Staples

Consumer Staples (91)

11-8-2013 Energy

Energy (132)

11-8-2013 Financials

Financials (316)

11-8-2013 Health Care

Health Care (199)

11-8-2013 Industrials

Industrials (252)

11-8-2013 Materials

Materials (148)

11-8-2013  Technology

Technology (338)

11-8-2013 Telecom

Telecom (24)

11-8-2013 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.