As usual, I went over the this past week’s top and bottom peforming sectors. Most of the sectors that performed well do not look good as longs. This is not a good sign for the market. At best, it signals new leaders are emerging. Worst case scenario is that most sectors, along with the market, are rolling over and ready to make another leg down.
Regional Airlines is an example of a sector that performed well last week, but is not a long candidate. Not much to look at, eh? It actually looks good as a short, with price pulling back up to resistance in the nidst of a downtrend.
Here are the top performing sectors for the week:
And the worst, which features many of the year’s best performers:
Don’t forget, I’ll be posting answers to your questions later this week. Ask me anything. Send your questions to: SinghJD1@aol.com