SectorVue by David Schultz for February 20th , 2007
Fast Lane
The Dow rallied 186 points and the Nasdaq NDX gained 35 points. The Midcap MID
and Russell indices RUT are leading the market higher which makes for a very broad
based move. Action for the week was plus 733. 29 Sectors were up and while 5 were
down.
While we would normally expect a pause our indicators are showing this market is firing
on all cylinders and is more likely to break out to new highs then to have a major
correction. Keep an eye on market breadth and the Russell index RUT.
Rydex funds- bullish Russell and NDX looking for a bit more upside. I may take profits
quickly but I am not likely to short the market this week.
Short term - A bit overbought but
still some headroom.
INTERMEDIATE TERM TRENDS - NDX Flat
Dow, SPX MID & SML -- Bullish
INTERMEDIATE OSCILLATOR - Avoided entering Bearish territory last week. Like a
pressure cooker letting off some steam the market does what it needs to do to keep the
advance in tact.
Service GSV- Number one in overall rank . Wow - a technology sector takes the lead.
EDS and Fidelity Systems FIS are tops in this list.
Technology TXX- A stealth rally in tech stocks led by EMC and our Qualcom QCOM
holding. Quite a few of these stocks are nearing recent highs.
Entertainment PEJ- Priceline PCLN, International Speedway ISCA, McDonalds MCD,
Jack in the Box JBX and Penn Gaming PENN all hitting relative highs. Someone is
enjoying themselves.
Wireless WMH - Qualcom QCOM, Research In Motion RIMM and others chiming in.
Gold XAU- Up in price but not out of the bottom ranks yet. If money starts to flow into
these stocks it will show up in the relative ranking before a big price move.
Semiconductor SOX- Still in the bottom ranks however stocks like Marvell MRVL,
Teradyne TER and KLA Tencor KLAC are showing signs of life.
Oil Patch XNG, XOI, OSX- In the bottom ranks. Take profits if you have them and be
patient on new purchases.
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This report is for educational purposes only and does not constitute "investment advice".
SectorVue for 2/20/7
Started by
TTHQ Staff
, Feb 20 2007 03:03 PM
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