Every Thursday we publish the trading range charts below in our Sector Snapshot report.  Start a two-week FREE TRIAL to Bespoke Premium to read our weekly Sector Snapshot report every Thursday.  Along with these price charts that help identify overbought and oversold levels for sectors, we also publish breadth charts of the 10-day advance/decline line and the percentage of stocks above their 50-day moving averages.  Additionally, we include relative strength charts and PE charts so that when put together, investors get a very clear picture of how the S&P’s major sectors all look at the moment.

As shown below, the S&P 500 is currently about as neutral as it gets.  The index is just above its 50-day moving average, and right in between a key resistance level on the upside and a key support level on the downside.

Looking at individual sectors, two defensives — Consumer Staples and Utilities — are currently in the strongest uptrends, which doesn’t say much for the health of the rally.  However, we have seen cyclical sectors like Consumer Discretionary, Materials, Financials, and Technology all re-take their 50-day moving averages recently.  Health Care has also popped over the last few weeks, which has caused it to put a dent in the longer-term downtrend channel that had been in place for the sector all year.

On the weaker side, Industrials hasn’t managed to get back above its 50-day moving average yet, and neither has Communication Services due to weakness from mega-cap companies like Alphabet (GOOGL) and Facebook (FB) that are dealing with anti-trust issues.  The Energy sector is by itself with the weakest chart pattern by far.  Like these charts and want to see more of them?  Start a two-week FREE TRIAL to Bespoke Premium to view them in our Sector Snapshot report every Thursday.