S&P 500 and sector performance July 2008

click to enlarge

from Bespoke Investment Group:
The S&P 500 is walking on thin ice right now, barely holding support levels made from the March lows. If it breaks support, the index will resume the long-term downtrend that has been in place since 2007. Unfortunately, Financials, Industrials, Consumer Discretionary, Consumer Staples and Health Care haven't been able to hold their March lows. It's going to take a lot of work on the upside to get these sectors out of their downtrends.

While Technology, Materials and Telecom haven't broken their March lows, they are in extreme oversold territory. Utilities and Energy are the only sectors holding onto uptrends.

red=overbought
green=oversold


source: Bespoke's Sector Snapshot (7/2/08)
Bespoke Investment Group http://seekingalpha.com/article/83583-bespoke-s-sector-snapshot-7-2-08?source=feed