BASIC MATERIALS- The sector has built on its late August breakout in September and October and has moved sideways now for the last five weeks. Within the sector, Aluminum stocks are rolling over, some Chemicals names, who have done fairly well, are starting to show some weakness and Silver stocks continue to move lower.
CONSUMER CYCLICAL- Always a hard sector to gauge as it covers a broad variety of stocks. The index broke to new highs in late September but has failed to pull away and is now toying with its 50 day EMA. Strength within still lies will Home Builders and Resort & Casinos. Auto Manufacturers who had been strong sold off this week and Department Stores and Apparel Manufacturers continue to struggle, although Specialty Retail has been strong. Outside a couple names, Restaurant stocks have been mainly weak.
FINANCIALS- The sector had been showing signs of life on the idea of rising rates but sold off this week. Regional Banks are becoming littered with failed breakout attempts and Global Banks have been struggled recently near 52 week highs. Select Insurance areas have been strong while Visa, MasterCard, and a few Fin-Tech stocks are carrying the Credit Services sub-sector.
HEALTHCARE- The sector has the appearance of a possible rollover with Biotech and Major Drug Manufacturers being the largest drag. Strength within the sector currently resides in Medical Devices and Health Care Plans. A few Diagnostic stocks remain in uptrends.
ENERGY- The sector is getting a shot in the arm lately from rising oil prices and Nat Gas prices and is near 2 1/2 year highs. The sector is showing signs of trends transitions across the board and even some breakouts in the Refining area. Oil and Gas Midstream Companies have not shown the same signs of life.
INDUSTRIALS- The biggest issue that may effect this sector is the Transports which are showing signs of rolling over. This is a vast group but if Transports fail it will have broader implications for the general market.
TECHNOLOGY- The sector remains strong overall but there has been some dramatic sell-offs in the area mainly spurred by earnings disappointments. Solar stocks have been strong along with Semiconductor names. Communications Equipment and Healthcare Information Systems have been pockets of weakness within the group.