Don't Ignore This Chart!

Techs Lead and Staples Lag on Market Carpet

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The image below shows the Sector MarketCarpet at "sector" level, which means we are seeing solid boxes for each of the nine sectors. There is a table on the left that ranks sector performance and this MarketCarpet shows performance for the current week (so far). The technology sector is the strongest, followed by industrials, healthcare and consumer discretionary (cyclicals). The consumer staples sector is the laggard and is barely positive for the week. We will look at the technology sector in detail after the jump. 


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Chartists can drill down into a sector by double clicking on a box in the sector. Also note that you can hover over the MarketCarpet and click the right mouse button to see more viewing options. The image below shows performance for the stocks in the tech sector this week. Note that Lam Research, Windstream, Electronic Arts, eBay and F5 are leading. These are also the ones with the greenest boxes. Three of the five laggards comes from the chip group (Texas Instruments, Altera and Microchip Tech). 


Click this image for a live chart

Arthur Hill
About the author: , 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. Learn More
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