It was a short week, but stocks moved higher with eight of the nine sectors gaining. As the PerfChart below shows, the consumer discretionary and technology sectors led with 2+ percent gains. The utilities sector was the lone loser with a 2.83% loss. Also notice that the consumer staples sector gained just .37% and lagged the others. Money was clearly moved into offensive sectors this week.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. 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.
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