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Technical Strength of a Weak Market

Posted on June 29, 2008

My measure of technical strength quantifies the trending behavior of five highly weighted stocks for each of eight S&P 500 Index ($SPX) sectors. The technical strength measure varies from +500 (very strong uptrend) to -500 (very strong downtrend), with readings near zero indicating a lack of trend.Here are how the sector readings are looking for the eight sectors:MATERIALS: -460INDUSTRIALS: -500CONSUMER DISCRETIONARY: -440CONSUMER STAPLES: -420ENERGY: -80HEALTH CARE: -160FINANCIAL: -460TECHNOLOGY: -400This is one of the weakest set of technical strength readings I've encountered; it's...

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lows , markets , new lows , sp