Sunday, December 22, 2013

Market Sentiment: Sector Breadth Divided

Well, after last week's possible short suggestion on Industrials, one has to go back to the drawing board. Friday's snapshot covered the prior two days, which offered largest price gains for Financials and Health Care, but it's Industrials which are the most bullish (x-axis), and experiencing the strongest accumulation (red color intensity for volume).

The other two sectors showing good volume hot zones on strong bullishness are Technology and Materials.



Meanwhile, the relative relationship between Trend and Momentum confirms strength in Industrials, but also shows both strong bullish momentum for Technology and Materials.  Utilities has the trend, but not the momentum, although it is enjoying a rise in bullish volume (the orange color).


For next week, Technology and Materials are not far behind Industrials in terms of bullish strength.  Value players can take a look at Utilities: improving trend and volume accumulation has pushed this off the bottom.

No sector is in 'sell' territory.

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Dr. Declan Fallon is the Senior Market Technician and Community Director for Zignals.com.
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