What Sectors Are Currently the Strongest and Which Are the Weakest?
02/10/2016 7:00 am EST
Corey Rosenbloom of AfraidToTrade.com takes a technical look at which of the nine major sectors are currently the strongest and which are the weakest and offers his take on what this might be saying about the likely future of the stock market.
Which of the nine major sectors is currently the strongest, which is the weakest, and what does that say about the likely future of the stock market?
Let’s take a look.
The simple price comparison charts above—noting trend—highlight the nine main AMEX Sector SPDRs.
We use this as the basis of our money flow or sector rotation style of analysis.
The strongest sector—making fresh new 2016 highs—is Utilities (bottom right).
Energy is the most persistently weak sector (XLE) while Industrials, Materials, and Healthcare are all pushing new swing lows as well.
Technology—hit by large losses in leading names lately—also pushes to new swing lows.
By Corey Rosenbloom, CMT, Trader and Blogger, AfraidToTrade.com