Sector Watch: Whole Lot Of Damage But A Few Bright Spots

Technicals are pretty much a disaster for all the sectors.

Except for Staples and Utilities, which are actually on the up and up, but that is to be expected when the street is looking for safe havens for its capital. 

The bulls have suffered for five weeks strong, and it is showing on the charts big time. But there are some out there showing signs of life and the potential to really see a change at a legitimate deadcat bounce or at the very least a few days where the market rallies. 

Here's what I see as the top 3 sectors right now:

  1. Staples
  2. Utilities
  3. Discretionary

The 3 worst sectors are:

  1. Financials
  2. Energy
  3. Industrials

Let's review the sectors:

Basic Materials (XLB)

xlb 1

Energy (XLE)

xle 1

Financials (XLF

xlf 1

Industrials (XLI)

xli 1

Technology (XLK)

xlk 1

Consumer Staples (XLP)

xlp 1

Utilities (XLU)

xlu 1

Health Care (XLV)

xlv 1

Consumer Disretionary (XLY)

xly 1

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