S&P 500 Sector Trading Ranges
Monday, June 20, 2011 at 05:02PM 
The chart to the right summarizes where the S&P 500 and each of the ten sectors are trading relative to their normal trading ranges. For each sector, the circle represents where the sector is currently trading while the tail represents where the sector was trading one week ago. When the circle is in the pink or red area it is considered overbought, while the green areas indicate oversold levels.
After closing out last week with nine out of ten sectors below their 50-day moving averages, today's trading saw two sectors (Consumer Staples and Health Care) join Utilities to close back above their 50-days. While most sectors are starting to get less oversold, when you have a scenario where Consumer Staples, Health Care, and Utilities are leading the market and Technology is the most oversold, it is hard to get really excited.
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