Courtesy of Declan.
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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