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 |
Today's rally was convincing, bouncing off the 20-day to keep the short-term trend intact. There isn't much sector movement to report. Last week it was noted that various Select Tech funds have joined in the leadership which is a good sign.
If I'm ready to buy a new fund, or add to holdings, generally I chose from the leaders. Today I made the unusual move of buying a laggard, the FXPFX Paper/Forest products fund. It's pulled back to the lower uptrend line, and I like the group as one of the few remaining cheap commodities related industries.
These are not recession industries. Energy, Materials, Industrials, Tech, Transport are economic growth industries. This leadership supports the view that the bull market is intact. How did footwear get in there? Very little leadership from Health Care, Utilities, Discretionary, Financials.
