Weekly 51

Sector after Sector is turning Red this week. It was not just the FOMC hawkish rate decision that caused that drop. The Yields went higher and the dollar went above 107. When we look at the Sector trends we see this:

The Real Estate Sector establishes a negative Weekly and the trend is down. 

Consumer Cyclical Sector and Consumer Defensive Sector is in negative Daily. 

Healthcare Sector is now negative in Daily and Weekly timeframe.

For a long time we have had a strong Communications Services Sector, but now it is negative in Daily and Weekly.

The Financial Services Sector is breaking down from ATH and is negative in it´s Daily timeframe.

Industrials Sector is in a short correction and negative in Daily, and the same for the Utilities Sector.

The Technology Sector is the strongest sector but the markets are asking the question and it is close to a negative Daily.

The weakest sectors are Energy Sector and Basic Materials Sector, both in negative Weekly.

There is faith and hope in technology. Is it the same for healthcare? That we need. It is what it is.

When all is said and done, we still need commodities and we will certainly need good companies and gold. A quick look at a company at the very low, VALE in the Basic Materials Sector, here in a Daily chart. We are at levels seen in 2009, 2017 and 2020. The trend is rock solid bearish.

The Sven Connection wish you a Happy Christmas!