Most Market Sectors Still Nowhere Near Oversold

Includes: IVV, SPY, UTH
by: Bespoke Investment Group

Hickey and Walters (Bespoke) submit: With the recent three-day selloff in equity markets, we thought we would update our sector snapshot that highlights the trading areas of the ten major sectors.

As shown, the utilities sector has recently sold off the most and is now trading more than two standard deviations below its 50-day moving average. While the other nine sectors have come in a bit, they still have quite a ways to go before getting into oversold territory.

click to enlarge

financials industrials

tech energy

consumer staples/discretionary

healthcare materials

utilities telecom