Bespoke's Sector Snapshot (9/25/08)

Below we highlight our trading range charts of the S&P 500 and its ten sectors.  When the price moves below the green zone, it is considered oversold, and overbought for above the red zone.  As shown, the S&P 500 is currently well into oversold territory, but it's not at its lows from last week. 

Financials moved into overbought territory after the "no short" rule was put in place last week, but it has since moved below its 50-day moving average.  Industrials and Health Care have already moved below their lows from last week, which isn't a good sign.  Both the Consumer Discretionary and Consumer Staples sectors have held up the best, but they're still trading close to oversold territory.

Comments

[Urbane Gori...:]

Thanks! jegan

2008 Sep 26 02:07 PM