| Followers | 680 |
| Posts | 141250 |
| Boards Moderated | 36 |
| Alias Born | 03/10/2004 |
Wednesday, September 28, 2016 10:41:47 AM
Sector Trendlines
* September 28, 2016
The S&P 500 is currently sitting below its 50-DMA, but it’s still within a long-term uptrend channel that has been in place since the February lows.
Looking at sectors, while Consumer Discretionary has been weak lately, it has still managed to hold above the bottom of its uptrend channel. The same can’t be said for Consumer Staples, which recently broke below its uptrend channel.
The Energy sector is trading within a tight slightly upward sloping channel, and it’s currently at the bottom of this channel trying to hold support. If it can hold, we should see a move back towards the top end of the channel soon. The Financial sector is sitting in somewhat of a no man’s land right now. It’s well above the bottom of its channel but has downside momentum.
Industrials and Health Care are both still trading inside of uptrend channels as well, and they’re currently closer to the bottom of their channels than the top. Materials has broken below the bottom of its uptrend channel, while Technology is the one and only sector that’s at the top end of its range. Both Telecom and Utilities broke their uptrend channels weeks ago and have now formed short-term downtrends.
https://www.bespokepremium.com/think-big-blog/sector-trendlines/
• DiscoverGold
* September 28, 2016
The S&P 500 is currently sitting below its 50-DMA, but it’s still within a long-term uptrend channel that has been in place since the February lows.
Looking at sectors, while Consumer Discretionary has been weak lately, it has still managed to hold above the bottom of its uptrend channel. The same can’t be said for Consumer Staples, which recently broke below its uptrend channel.
The Energy sector is trading within a tight slightly upward sloping channel, and it’s currently at the bottom of this channel trying to hold support. If it can hold, we should see a move back towards the top end of the channel soon. The Financial sector is sitting in somewhat of a no man’s land right now. It’s well above the bottom of its channel but has downside momentum.
Industrials and Health Care are both still trading inside of uptrend channels as well, and they’re currently closer to the bottom of their channels than the top. Materials has broken below the bottom of its uptrend channel, while Technology is the one and only sector that’s at the top end of its range. Both Telecom and Utilities broke their uptrend channels weeks ago and have now formed short-term downtrends.
https://www.bespokepremium.com/think-big-blog/sector-trendlines/
• DiscoverGold
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Your Due Dilegence is a must!
• DiscoverGold
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
