Exploiting the edge from historical market patterns

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Sector Update for July 5th

Posted on July 05, 2009

Last week's sector review indicated that we were in a corrective mode, in which stocks were trading within a broad trading range defined by the May price lows and June highs. After failing to sustain a rally to new highs, the market fell on weak economic news this past week. This has us coming close to probing the lows of the trading range.Above we see the Technical Strength readings for the eight S&P 500 sectors that I follow weekly. Recall that Technical Strength is a proprietary, quantitative measure of short-term trending that varies from +500 (strong uptrend) to -500 (strong downtrend)...

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bull market , highs , lows , sp , trading