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Sectors Don't Look So Bad - "Bear Market Special" Coming to a Close!

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While we have negative long-term expectations for the market, we notice that most of the eleven S&P sectors are looking rather bullish intermediate-term. Only two sectors -- Energy and Materials -- have been making new lows, but the rest are either showing rising bottoms from the June low or are making a double bottom against that low.

In the Diamond Mine trading room that Erin holds for subscribers of the DP Diamonds Report on Fridays at Noon ET, she "mines" to find the "Sector to Watch" and "Industry Group to Watch". She noted that aggressive sectors were showing bullish price patterns while defensive sectors (XLP, XLU and XLRE) were displaying fading strength. Here is an excerpt from Erin's Diamonds Report today.


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"In this morning's Diamond Mine Trading Room I liked XLY for "Sector to Watch". After getting participation data for the day, I still believe XLY is the most bullish. As far as "Industry Group to Watch", I also haven't changed my mind. Specialized Consumer Services is outperforming in a big way and today's rally suggests more upside ahead.

Sector to Watch: Consumer Discretionary (XLY)

I decided to go with XLY, but XLC and XLK were close seconds. My reasoning for this one over those was that we have better participation of stocks above their 50-day EMAs and the SCI reading was higher than the others and rising steadily. We have a bullish ascending triangle that implies a breakout above the confirmation line and 50-day EMA.

Industry Group to Watch: Specialized Consumer Services ($DJUSCS)

There were some interesting groups out there within XLY, but this chart floated to top. The RSI is positive, rising and not overbought. The PMO just accelerated above the zero line. Stochastics have tipped up. Not only is there an intermediate-term bullish double-bottom, price is traveling in a rising trend channel.

Good Luck & Good Trading!

Erin Swenlin & Carl Swenlin


Don't miss the new DecisionPoint Trading Room! Carl has joined the room with Erin and answers questions from attendees or from comments left on YouTube. If you'd like to attend LIVE, click HERE to register.




Technical Analysis is a windsock, not a crystal ball. --Carl Swenlin

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Bear Market Rules


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Carl Swenlin
About the author: is a veteran technical analyst who has been actively engaged in market analysis since 1981. A pioneer in the creation of online technical resources, he was president and founder of DecisionPoint.com, one of the premier market timing and technical analysis websites on the web. DecisionPoint specializes in stock market indicators and charting. Since DecisionPoint merged with StockCharts.com in 2013, Carl has served a consulting technical analyst and blog contributor. Learn More
Erin Swenlin
About the author: is a co-founder of the DecisionPoint.com website along with her father, Carl Swenlin. She launched the DecisionPoint daily blog in 2009 alongside Carl and now serves as a consulting technical analyst and blog contributor at StockCharts.com. Erin is an active Member of the CMT Association. She holds a Master's degree in Information Resource Management from the Air Force Institute of Technology as well as a Bachelor's degree in Mathematics from the University of Southern California. Learn More
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