Below we highlight the performance of S&P 500 sectors from the market's 2010 high (4/23) to its July 2nd low as well as since July 2nd. As shown, the Financial sector is up the most since July 2nd with a gain of 10%, followed by Materials (9.5%), Technology (7.8%), and Energy (7.6%). The Financial sector was also down the most during the correction. The four defensive sectors -- Utilities, Consumer Staples, Health Care, and Telecom -- have all underperformed the S&P 500 since July 2nd.
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On July 2nd, we posted our Trading Range Screen of the 30 Dow stocks, where we noted that nearly every index member was trading in oversold territory. As shown in the updated screen of the Dow members below, only one stock (Home Depot) remains in oversold territory, while many are now overbought. American Express (AXP), Caterpillar (CAT), and Merck (MRK) are the most overbought. IBM, McDonalds (MCD), JP Morgan (JPM), Procter & Gamble (PG), and Travlers (TRV) are other names that have seen big moves over the past week.