On Break

11/16/2008

BMB On Break

It’s time again for a little BMB R&R, especially with the market behaving as bizarrely as it’s been. Maybe if we stop watching it start to behave a little better…

Posting will be very light and variable over the course of this week, but we’ll put up an open thread each market day for our readers to comment on the day’s market activity or to post any interesting links they might run across.

Check the space below for whatever the latest might be during this ‘off’ time, and please visit the various sites in the ‘Links’ and ‘Regular Stops’ for up-to-date market news and analysis.

BMB will be back in full swing by next weekend.

Posted: 1:00 pm

1/15/2005

Weekend Sector Scan

SPX chart The major indices may have found a little stability this week. Friday’s action was relatively strong, but things still feel rather shaky here. The S&P 500 may find support in this 1160-1170 area. The index has been weakened considerably however, with only 43% of its member stocks trading above their 50-day moving averages, a far cry from the 80-90% seen toward the end of last year.
XLE chart Energy stocks had the best week of all the sectors. Higher crude oil prices seems to have pumped a little life in the sector, which may find the strength to break out of its trading range and move higher.
XLK chart Technology remains the weakest of the sectors, having taken a hard fall that brought it down through its uptrend line and the 50-day moving average.

 

Here’s where the AMEX Sector SPDRs stand after this week’s trading:

Sector Symbol 8 Week % Chg. 4 Week % Chg. 1 Week % Chg.
Health Care XLV +4.4 -0.2 -0.5
Consumer Staples XLP +2.4 +1.6 +0.3
Consumer Discretionary XLY +2.3 0.0 +0.5
Financials XLF +1.5 -1.0 -1.2
Utilities XLU +0.9 +0.1 +1.9
Energy XLE +0.2 +0.9 +4.3
Basic Materials XLB -0.1 -1.1 +0.5
Industrials XLI -0.9 -2.8 -0.5
Technology XLK -3.8 -3.6 -1.4

Charts courtesy of StockCharts.com

Posted: 11:10 am