Just a quick market update and a recap of last week! It has been another week of overall gains in the stock markets.
Most market sectors have either gained uptrend momentum or stayed the same as last week. One exception is Staples… maybe the “Amazon Effect” is still ongoing.
Weekly Comparison – Uptrends
It’s easier to see in the slope graph who were the top gaining sectors this week.
While I did not emphasize it in the above chart, what intrigues me is the gains in the energy sector. 2 weeks back, it was firmly at 12% – i.e. only 12 out of 100 companies showed an uptrend.
Now we are at 21%… for a depressed industry, that’s more than I would expect.
Real estate increased from 43% to 53% – let’s see if that will continue (I am skeptical about it).
The sector that stands out here is Materials – now with ZERO downtrending companies! But that’s because they moved into sideways territory – if you look at the uptrends, Materials did not gain anything.
Energy lost many of its downtrending companies – that’s a good sign. Staples moved further into downtrend territory.
Rember you can use the Web App to see the trends!
Last week I did not have time to write a market trends update – but you can always check for yourself how each sector is doing on the web app.
Get the download link below!