Week 8 SPX Sectors Trending and Performance
We saw that this week was bad for all the major markets. Next, I want to review how each of the SPX sectors did.
Trending Heat Map
XLY turned short-term bearish.
XLV had more weakness.
XLU had more weakness.
XLRE was also weaker.
XLK actually turned long-term bullish with the 50-day moving average crossing over the 200-day moving average. This is more the tail wagging. Otherwise, the trending weakened.
XLI turned short-term bearish and the price also dipped below its 50-day moving average.
XLF turned short-term bearish.
XLE no change.
XLC price dipped below its 200-day moving average.
XLB no change in trending.
Week-over-Week Performance
Performance over various periods
Observations and Conclusions: Market trending is lower with all SPX sectors weakening.