Recent leading sectors starting to struggle
Let’s be honest, it is never good when utilities are leading the way. And not even mentioned in the rankings below, is the fact that staples are starting to show signs of life once again.
Meanwhile, technology is struggling, discretionary is showing signs of breaking down and healthcare is confirming a bearish wedge.
What does this mean for you? Be very weary of this market.
Here’s what I see as the top 3 sectors right now:
The 3 worse sectors are:
I am 90% cash, and added a short position on market strength this morning. So far it is panning out well.
Let’s review the sectors:
Basic Materials (XLB)
Energy (XLE)
Financials (XLF)
Industrials (XLI)
Technology (XLK)
Consumer Staples (XLP)
Utilities (XLU)
Health Care (XLV)
Consumer Disretionary (XLY)
