Scott MartindaleSabrient’s SectorCast-ETF rankings are holding mostly steady; however, the continued fall in Consumer Discretionary against the other sector ETFs has suggested near-term weakness ahead for the markets – which has definitely played out since the minor top on June 21. Read more about Sector Detector: Consumer Discretionary Falls Further in Rankings

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Scott MartindaleAlthough Sabrient’s SectorCast-ETF rankings have not changed dramatically, there are some definite signs of a more conservative bent evolving. And there seems to be good reason for it. After carefully scaling the proverbial wall of worry last week, this week saw the market lose the important technical support levels that it had fought so hard to reclaim. Read more about Sector Detector: Expecting Continued Strength in InfoTech, Weakness in Materials

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Scott MartindaleThe stock market is searching for direction, testing support and resistance levels each week. After threatening a waterfall decline last week, it instead found support and has rallied strongly. Today, the S&P 500 and Dow Jones Industrials joined the Nasdaq 100 and Russell 2000 by rising above the important 200-day moving average. Read more about Sector Detector: InfoTech Holds Lock on Top Ranking

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Scott Martindale

Market volatility continues, with the Dow gapping down under 10,000 to start the day today before recovering nicely by the close. Most of the major indexes are still below their 200-day moving averages, but interestingly, the Nasdaq 100 (QQQQ) and the Russell 2000 (IWM) actually closed above theirs. I see this as bullish. Read more about Sector Detector: Volatile Markets, Stable Rankings

Scott Martindale

The stock market’s technical “topping formation” finally manifested in a correction in early May, and it resumed over the past several days. The 20-day moving average that had provided consistent support during the methodical rally has proven to be formidable resistance (along with the converging 50-day). Read more about Sector Detector: InfoTech and Energy stay solid at the top

Scott Martindale

As earnings season gets underway with mixed results but a generally positive trend, Wall Street analysts are coming out with upgrades and downgrades to earnings estimates that are significantly impacting our sector rankings this week. Read more about Sector Detector: Seeing rotation in fundamentals

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