Sector Action

[Runner]

Here is an interesting longer term pattern. I'm longer bull here on a bust up through the upper trend line.


Weekly gives closer view of action

[Runner]

Computer Peripherals is trying to breakout to the upside.

[Runner]

I forgot to turn on the volume bars...

[Runner]

Metals and Mining:
I’m longer term Bear in this sector on a macro basis as per monthly chart. I’m bull here on a micro level and think short-term profits might be made here.

WOW several stocks in this group melted up today. Remember your commodity related stocks trade independent of the broader market Indices.

[Runner]

Using the bottoms up approach I’m finding some set ups to the long side in the following groups.

Oil & Gas Refining & Marketing 4 stocks
Independent Oil & Gas 3
Commo Equuipment 2
Apparel Stores 2

[Runner]

I’m short-term bull in the Oil & Gas Refining group right now. I still would like to see a little upward acceleration in the group. However it is trying to recover off the lows.

Energy does have some R to work through and I thus far like the fact it has worked itself past the inflection point. I would also like to see some acceleration to the upside here.

Energy is trying and I'm beginning to see set ups. I think short term profits might be made here.

[Runner]

Midweek RSI group scan. Numbers indicate percent change over last 2 weeks

[peanuts]

Midweek RSI group scan. Numbers indicate percent change over last 2 weeks

Can you share the negatives as well, please?

[Runner]

Can you share the negatives as well, please?

Group down rsi

[billyjoe]

Runner,
Don't know if you've done this yet. Could you post charts of perhaps the top 5 sectors or groups with the S&P 500 performance over the same time period ? It seems to me that the top sectors would prove to be more stable in a short time span than the S&P , but I could be wrong. Thanks

------------billyjoe

You can use comparison with any index you think is significant . S&P seems to be one that would be relevant.

[Runner]

Runner,
Don't know if you've done this yet. Could you post charts of perhaps the top 5 sectors or groups with the S&P 500 performance over the same time period ? It seems to me that the top sectors would prove to be more stable in a short time span than the S&P , but I could be wrong. Thanks

------------billyjoe

You can use comparison with any index you think is significant . S&P seems to be one that would be relevant.

Billyjoe, I can do that. What time frame would you like the "look back" to be? I normally will use the highs and lows of the S&P for the scan.

[Runner]

Here is a delta scan using the S&P highs on 5/8/6 to current. During this time the S&P has increased by 3.98%. The following sub-groups have been tracking very well.

Major Airlines 23.78%
Telecom Services-Domestic 21.65%
Reit-Residential 19.92%
Toys & Games 19.00%
Reit-Healthcare Facilities 18.80%

I’ve been Bull in Telecom for a good while. Heck I’m looking to change cable services and went to BLS’s site last night and was impressed with BellSouth.

[Runner]

Billyjoe, should you have a particular groups chart you would like posted just give me a shoot. I've always believed being in the right group is about 1/2 the battle. Most disagree with this but that is ok. We all do things differently.

[billyjoe]

Runner,
How about S&P vs. insurance for the last 12 months and maybe commercial real estate. Thanks

----------billyjoe

[Runner]

Runner,
How about S&P vs. insurance for the last 12 months and maybe commercial real estate. Thanks

----------billyjoe

Billyjoe, the S&P500 has increased 8.55% since 1/3/6. Insurance sector has increased 7.93%. It does track pretty close to the S&P. I expect It to pullback if the S&P should do the same. Real Estate is currently up 21.17% for the year.