Below is an updated look at our one-year sector trading range charts. You’ll notice today’s drop for most sectors, but the magnitude of the drop may not look as big as you’d expect.
Some quick takeaways: Consumer Discretionary’s drop today has caused a short-term chart breakdown. The same goes for Financials. Technology, Industrials, Health Care and Materials are now on the verge of breakdowns but have yet to do so. Energy remains within its uptrend channel, and the three defensive sectors — Consumer Staples, Utilities, Telecom — are actually catching bids.