Materials and Energy Sectors Decline

Energy and Materials were the only two sectors in the S&P 500 that declined yesterday, and each have now been down four days in a row. As shown in the trading range charts below, the declines have moved the sectors from extreme overbought territory down to the top of their trading ranges. As of now, the uptrends remain intact, but it has been awhile since these sectors have been oversold, so we could see more of a selloff in the coming days.

Below we list the worst performing Materials and Energy stocks since the two sectors peaked on May 20th. As shown, KWK is down the most at 11.78%, followed by TRA, GGC, ATI and TIN. While big names like XOM, CVX, MON, DOW and DD aren't on the list of worst performers, they are all down between 4% and 6% over the last week.