We’ve just released our weekly Sector Snapshot report (see a sample here) for Bespoke Premium and Bespoke Institutional members. Please log-in here to view the report if you’re already a member. If you’re not yet a subscriber and would like to see the report, please start a 14-day trial to Bespoke Premium now.
Below is our trading range screen for the ten S&P 500 sectors, which is always included in the weekly Sector Snapshot. The screen allows you to quickly see which sectors have upside or downside momentum, and which sectors may be too extended to the upside or downside. For each sector, the dot shows where it is currently trading within its range, while the tail end shows where it was trading one week ago. The black vertical “N” line represents each sector’s 50-day moving average, and moves into the red or green zone are considered overbought or oversold. The darker the shading, the more extreme the reading.
As shown, the S&P 500 has just moved below overbought territory, while five of ten sectors remain overbought. These include Energy, Financials, Health Care, Industrials, and Materials. No sectors are currently oversold, and five are in neutral territory. Notably, the Technology sector has seen pretty significant weakness within its range over the last week.
To see our full Sector Snapshot with additional commentary plus six pages of charts that include analysis of valuations, breadth, technicals, and relative strength, start a 14-day free trial to our Bespoke Premium package now. Here’s a breakdown of the products you’ll receive.