[isatrader]

This week saw big moves in the majority of the sectors lower. Industrials being one of the notable breakdowns as it's been one of the top two for a long time. So a 12.14% drop moves it into fourth on the RS table rankings. Utilities was very slightly higher on the week and so as everything else broke down it's moved into the top spot for the first time since I've been doing these updates.

Basic Materials, Energy and Technology continued to show relative weakness and moved further down their scales, with Basic Materials nearing the lower zone and closing below it's November low.

So the majority of the sectors have now rolled over and are below declining 10 week MAs. The visual diagram shows the current state of the market quite well I think, especially if you compare back over the previous weeks, as it shows the participation is weakening. And the point and figure chart has had a number of double bottom breakdowns with six of the nine sectors on bear confirmed status now.

Below is the data table for the Percent of Stocks Above 150 Day Moving Average in each sector which I've ordered by relative strength, with the highest to the lowest percentage in each sector. Also attached is the visual diagram of the 9 sectors and the overall NYSE Percentage of Stocks above their 150 day Moving Averages, plus the 1% P&F chart and line chart of the nine sectors.