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U.S. Sector Trend Following Matrix Shows Improving Participation in the Uptrend  Thumbnail

U.S. Sector Trend Following Matrix Shows Improving Participation in the Uptrend

We've seen notable improvement in the breadth of stocks participating in the uptrend across multiple time frames. 

In the U.S. Sector Trend Following Matrix below we highlight the percentage of stocks above their 5, 20, 50, 100, 150, and 200 day moving averages of the S&P 500 index and a breakdown of each of its sectors. 85% of the stocks in the S&P 500 are trending above their 20 day average. 

A few sector observations:

Energy and Utilities have been the weakest sectors the last 200 days, but have recovered the last 5 - 20 days. 

Every long term trends begins with a short term trend, but not every short term trend continues into a long term trend. 

The cyclical sectors Industrials, Consumer Discretionary, and Information Technology has been the leaders by a wide margin in all periods over the last 200 days. 

Communication Services was the biggest laggard in 2022 but is recovering in 2023. 

Past performance is never a guarantee of future results. 

Mike Shell is the founder, President, and Chief Investment Officer of Shell Capital Management, LLC, and the portfolio manager of Asymmetry® Managed Portfolios.  Shell Capital Management, LLC is a registered investment advisor focused on asymmetric risk-reward and absolute return strategies. Shell Capital provides investment advice and portfolio management to clients with separate accounts at Goldman Sachs Advisor Solutions with an investment management agreement. The observations shared on this website are for general information only and should not be construed as investment advice to buy or sell any security. This information does not suggest in any way that any graph, chart, or formula offered can solely guide an investor as to which securities to buy or sell, or when to buy or sell them. Securities reflected are not intended to represent any client holdings or recommendations made by the firm. In the event any past specific recommendations are referred to inadvertently, a list of all recommendations made by the company within at least the prior one-year period may be furnished upon request. It should not be assumed that recommendations made in the future will be profitable or will equal the performance of the securities on the list. Any opinions expressed may change as subsequent conditions change. Please do not make any investment decisions based on such information, as it is not individualized advice and is subject to change without notice. Investing involves risk, including the potential loss of principal an investor must be willing to bear. Past performance is no guarantee of future results. All information and data are deemed reliable but are not guaranteed and should be independently verified. The presence of this website on the Internet shall in no direct or indirect way raise an implication that Shell Capital Management, LLC is offering to sell or soliciting to sell advisory services to residents of any state in which the firm is not registered as an investment advisor. If this website contains information regarding Options Trading, please read the Characteristics & Risks of Standardized Options, also known as the options disclosure document (ODD). Options involve risk and are not suitable for all investors. The views and opinions expressed in Asymmetry® Observations and Asymmetric Investment Returns are those of the authors and do not necessarily reflect the position of Shell Capital Management, LLC. The use of this website is subject to its terms and conditions.