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Sector Update for June 28th

Posted on June 28, 2009

Last week's sector review suggested that we were in a broad corrective mode defined by May's lows and June's price highs. We did indeed touch the lows in SPY from the middle and later part of May before bouncing higher toward the end of the week. On Friday, new 20-day highs across the NYSE, NASDAQ, and ASE finally exceeded new lows for the first time during the week, once again highlighting that we are in a trading range rather than an outright bear market. A move below this past week's lows, particularly on an expanded number of stocks registering fresh new lows, would suggest a deeper and...

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bear market , highs , lows , new lows , trading