FYI: Below is our trading range screen for the ten S&P 500 sectors, which is always included in the weekly Sector Snapshot. The screen allows you to quickly see which sectors have upside or downside momentum, and which sectors may be too extended to the upside or downside. For each sector, the dot shows where it is currently trading within its range, while the tail end shows where it was trading one week ago. The black vertical “N” line represents each sector’s 50-day moving average, and moves into the red or green zone are considered overbought or oversold. The darker the shading, the more extreme the reading.
As shown, the S&P 500 has just moved below overbought territory, while five of ten sectors remain overbought. These include Energy, Financials, Health Care, Industrials, and Materials. No sectors are currently oversold, and five are in neutral territory. Notably, the Technology sector has seen pretty significant weakness within its range over the last week
Regards,
Ted
https://www.bespokepremium.com/sector-snapshot/bespokes-sector-snapshot-42816/
