The trend of spending money on yourself remains intact this week. Much like last week’s Sector Selector, Top Equity News technical analysis of the sectors show that Wall Street is favoring the consumer industries.
It’s not too surprising as the job picture and consumer confidence are improving. If people feel secure in their work and have a sunnier disposition towards tomorrow, they are more likely to spend on themselves.
Additionally, the post subprime meltdown boxed up a ton of pent-up demand for personal products. The walls were starting to round out, the tape starting to stretch, and now that things are somewhat better, folks are opening up their wallets and purses and laying the plastic on the counter for themselves.
On the flip side, TEN continues to be surprised by finding anything to do with oil in the bear columns. Oil prices have stopped going up for the time being, but still remain above $100, and the price at the pump is a killer. Perhaps, the negative ton on the industry’s charts bodes well for drivers in the next three to six months? One person for sure hopes that it means lower gas prices in that timeframe – President Obama.
EMERGING BUY: industries with positive technical analysis traits that are in the early stages, indicating possible above average returns in the near-term:
Beverages
Personal Products
Property & Casualty
Consumer Goods
Trucking
Soft Drinks
MATURE BUY: industries that have outperformed and their charts suggest the above average returns could continue:
Gambling
Computer Services
Support Services
Personal Goods
Apparel Retail
Specialty Retail
Retail
Home Improvement
MATURE SELL: industries that have under-performed and, based on their current chart patterns, could continue to lag:
Medical Equipment
Autos
Specialty Construction
Brewers
Oil & Gas
Medical Supplies
Oil Equipment & Services
Gas Distribution
Tires
EMERGING SELL: industries that have fresh negative technical analysis set ups and could have subpar performance in the weeks ahead:
Consumer Electronics
Industrial Supplies
Paper
Semiconductors
Forestry & Paper
Sector Selector: It’s Mostly About Me is an article from: 
