S&P500 strength status as of 2023-05-09?
The S&P 500 is of Average strength after strengthening over the past week ending May 9, 2023.
Below is a four-week look back at the index by Sector. The relative deterioration is clear in the index's Basic Materials stocks, which weakened down to the same strength level as the index's Financial stocks. Overall, the component sectors are all clustered around Average strength, with none at extremes.
This analysis clearly demonstrates the relative and absolute strength of the component sectors, without opinion or interpretation. The value may not be evident given current readings. As will be shown in a future post, the value will be evident at major market bottoms when this analysis can be used to answer the question "How low is low?"
This analysis tells you WHAT is, which is much more important than the WHY which will not come out until far too late.
This analysis tells you WHAT is, which is much more important than the WHY which will not come out until far too late.
Downloadable File
The detailed analysis is available at the link below. The stock-by-stock analysis shows only the strongest and weakest stocks.