First off, we would like to apologize for the lack of posts recently. We have been backed up but should be able to provide more substance starting next week.
At the end of this week, which proved our Dow A/D theory to be quite wrong, we decided to highlight the S&P 500 sectors that are most Overbought or Oversold. Below is a table showing the percentage of each sector that is either overbought, oversold or neutral. As we would expect a strong week very few stocks are oversold, with Energy and Utilities leading the pack; however, over one third of the S&P 500 remains neutral. The Trading Envelope appears below for historical comparison.
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