Online Trading Market Analysis

Ralph April 26th, 2008

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Our readers know that last week we were calling for some consolidation and possibly more upside in the market - ”We would expect to see some consolidation and even a bit more upside progress next week.  Any downside exploration should be met with buying in what was the prior resistance zone.”  That is, of course, exactly what happened. The DJ-30 and SP-500 both closed very strongly for the week and have cleared some important chart points leaving, by some standards, nothing but blue sky above.  The Dow looks free to run to sma200 at approximately 13,074.  The SP-500 is sitting just below the confluence of sma500, the upper bollinger band (standard settings) and ema200.  This could prove to be some stout resistance.  After that, it is also free to run to it’s sma200 at approximately 1,436.


Breadth for the market overall last week was about as close to 0% as it gets, very similar to recent weeks ending February 15th and 22nd.  This week the broadest based buying (on a percentage basis) was in Retail, Real Estate, Pharmaceutical and Aerospace sectors among others.  The broadest based selling was in Utilities and Metals & Mining among others.  The free report will give you all the detail you need.

We had previously published the weekly reports live on this blog but decided to step up our generosity another notch and give it away in an excel format (we previously charged $5 for this) for FREE from now on! The feedback we’ve been getting from our customers is that the Excel format is much more user friendly than the blog format.

We invite you to learn more about the huge advantage breadth analysis gives you as a trader or investor. As you can see in the table above we track 11 Major US Stock Market Indexes and Averages, 23 important Exchange Traded Funds (ETF’s) and all of the widely followed Hemscott Financial Data North American Industry Groups. These groups are easily tracked within the award winning Worden Brothers Stock Market Trading Software Telechart. This software works perfectly with this report, we suggest you give it a try!

If you’d like to receive any previous Weekly Sector Breadth Reports just let us know!

Good Trading!

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