20131220 Moving Average Breadth

20
Dec 13
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20131220 Moving Average Breadth

You shouldn’t be so quick to lose faith in Santa it seems. After being soft the last couple of weeks, it was a good thing we went on watch last week just in case. It was that scenario that worked out. Short term breadth got low enough while intermediate readings went to neutral and longer term didn’t really react much. That is corrective action at its best. Now we are heading back higher with breadth and volume expanding this week in most all areas

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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20131220 Moving Average Breadth

Dec 13

0