Don't Ignore This Chart!

Despite Big Gain, Sector Carpet Shows Mixed Picture for the Week


Stocks moved sharply higher for the second time in two days, but remain mixed, at best, over the last five days. The chart below comes from the Sector Carpet. The red squares show losers, while the green squares show gainers. Notice the numbers at the top of each sector box. The utilities sectors is the only gainer the last five days (+.30). The rest are in negative territory.

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Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
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