Sunday, October 31, 2010

Weekly Sector Report | 10/29/10

We closed October without any of the oft-anticipated fireworks that define this transition month into 4th quarter. The total stock market index was up .13%--we can call that flat.  Below are the 24 major Sectors and their relative performance.

Snap142a
As is usual, I have prepared a chart book in PDF form for your use with the weekly, daily, and monthly (since it is month end charts) for each of the sectors listed above.  You can downoad it here. It's a large file, so be patient.
Below is a weekly chart of the total stock market index.  I like to view this chart because it eliminates the bias of small, large, mid-cap, tech, industrials weighting that is evident in the other indices. I also like to look at the weekly to eliminate some of the daily noise.

Snap147
We've a string of positive bars--9 weeks now.  With elections this week, perhaps the market will give us its own version of the move  9 1/2 Weeks?  As we've repeatedly seen, when the market gets to critical junctures, the news flow is the major impetus for the direction up or down--and last week was an example of much activity but very little direction although the sectors had quite a bit of push and pull (which is why I look at them).