So here's some clarification re sector numbers for:
Banks: 58.66
Savings; 60.66
Financials; 52.52
Wall street: 47.21
And for those who watch semi's: 26.
Yet a bit more who want to see a bigger picture..Many are sitting in th 38-46 area.Meaning they can shift LEFT meaning still room to go lower.
They would include not all:
Housing, Leisure, Media, Restaurants, Waste Management, Builders, Health care, Gaming, Forest, Food, Aero space,
And still to the far RIGHT is Real Estate at 66.9 and Electric Utilities. One of them will roll LEFT soon. Guess which one?
If one is considering where to buy and where to sell and thinks there is a drag on a sector then maybe selling of that real estate is not such a bad idea since it's in a 66 area. And if this economy will weaken then one might expect more selling could happen in a leisure, gaming, etc..
Bottom line though is that there is room for downside in sectors and spx. However, here and NOW I'm expecting a bounce within the next few days. ALL IMHO |
