Monday Sector Strength
Disclaimer: All charts and comments are intended for education and discussion purposes only. No investment recommendations are being offered. Please do your own research and take responsibility for all investment decisions that you make. Questions and comments related to this post are encouraged. | MON - Sector Strength | TUE - Interest Rates | WED - Market Breadth | THU - Commodities & Currencies | FRI - Market Sentiment | SAT - Bullish Percents | About | contact: HeadlineCharts@gmail.com |
I'm bored with my own charts, so I thought I'd swipe from Corelio's List in the public charts section of Stockcharts.com. I can't vouch for the accuracy of the list below, but I thought it was a great presentation. No surprise that defense, medical, staples remain the leaders. If there were a Fidelity agriculture fund I think that would be a leader too. These are the areas I'll be focusing on when the bottom is in for this correction.
In a market under a lot of stress I wouldn't think of Biotech as a place to invest. But this index has been correcting since last fall and may be ready for a break out. This is another chart from Corelio's List.
I borrowed this chart from John Murphy and it shows this index has pulled back very nicely to a long-term uptrend line after reaching long-term resistance that dates way back to 2000. The bullish percent for biotech is in the very oversold range.
