Tuesday, December 10, 2013

Market Sentiment: Inter-Sector Breadth Analysis

Updated the last three days of action into the sectorbreadth chart.
Utilities (XLU) had initiated a rebound, but got bogged down a little over the last couple of days.  It has remained the weakest sector, holding the last ranking spot - but value buyers should take note it is benefitting from money cycling into the sector.

Meanwhile, Technology has remained at the hot end of the market, enjoying a rise in the ranking as bullishness remained above 50%.  Momentum bullish players should keep an eye on this as it has started to rise once more.

Meanwhile, former high ranking Materials ($XLB) slipped down the rankings (circle width widens) as it fell back into the pack. Past couple of days have seen a modest improvement in bullishness, but it's currently 7th of nine sectors.

Play around with the chart, there are four criteria and 10-days worth of data to play with.


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