Online Trading Sector Performance - What’s HOT, What’s NOT

Ralph April 12th, 2008

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Last weekend we stated “… we’re not seeing strong clues for a push through resistance next week” which allowed us to fade Monday’s false upside breakout. We hope some of you readers enjoyed some profits on the short side this week as well, especially if you held into the close on Friday. Both the DJ-30 and SP-500 fell on Friday to almost as low as their opening prices from April 1 (the big up day in the market). Those opening prices would be a good place to expect the downside action to pause, and possibly even be a good place to expect some bounce. The Diamonds closed the gap from April 1 on Friday and SPY came to within 28 cents, we would expect that gap to be fully filled on Monday or sometime next week before we get any bounce.

Breadth for the overall market last week was fairly weak, quite similar to the overall market breadth for week ending March 7. You will notice that after that week, there was one more day of downside then some bottoming action took place, leading to the recent rally (series of higher highs and higher lows) we’ve been seeing since then. All in all it appears next week we might see a bit more downside on Monday and then some upward progress to retest the now fortified resistance zone in the indexes. The consolidation this week may have allowed the market to refuel enough to push through that zone. We shall see.

If you’d like a copy of our FREE weekly sector performance report covering over 270 specific sectors of the market and occasional insights from us please leave us your name and email address in the form below …

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.

This week we had only 10 sectors with stronger than 0% breadth. Lots of Energy and Utility related sectors are populating the relatively stronger side of the market this week. We have 16 sectors with -100% breadth, (traders voting unanimously to be OUT of those sectors). On the weak side we see Homebuilders, Internet, REal Estate, Retail, Software, Nasdaq 100, Transportation and Telecom sectors among many others.

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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