Bespoke's Sector Snapshot (10/22/08)

Below we highlight our trading range charts of the S&P 500 and its ten sectors.  As shown, everything is still trading well into oversold territory, so there is a lot of room to run on the upside if the market chooses to head in that direction. 

If stocks do end up holding their intraday lows today, one bright spot will be the fact that the index has now made two "higher lows" off of its ultimate low a couple of weeks ago.  Financials, Health Care, and Utilities have hung in there much better than other sectors in recent days, while Industrials, Tech, and Materials are struggling the most.

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