Sector Wrap Wk Ends 14 Jul - Tech best and back in the top 3 ranked for only the 2nd time in 5wks, but stays qtrly #1 for the 24th consecutive wk which may be a record!
Subsector leaderboard a different story tho with Housing complex constituents top 3 headed by mkt leader Home Builders, and co-leader industry group Building Mats also represented in the top 12
Meanwhile Telecoms worst sector dn 1 place from last wk, but qtrly stays worst 9th wk at a SRS 90yr SRS low!
2/ Energy related Integrateds and Coal were 2nd/3rd worst subsectors but Oil Equip & Svcs diverging 9th best now at a 2yr SIRS internal rel strength high vs the sector after underperforming during the $CL runup '21 thu mid '22; a shifting perception of the pricing outlook perhaps?
If so will that be confined to a USD only phenomenon? Certainly possible with the dollar in freefall last wk; should know within days if a crash is underway or we reverse back into the range from Feb
MarketScalpel