Every Sector is in an Uptrend

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All 11 sectors in the S&P500 are in uptrends. From Technology, to Financials, to Consumer Discretionary, Materials and Real Estate.

All of them.

There are a lot of ways to define what an uptrend is, of course.

But one very simple way is whether its 50 day moving average is above its 200 day moving average.

Like anything else, it's not perfect. Nothing is. But it's pretty good and definitely helps us quantify the direction of price trends.

Here's a great example in the S&P Industrials. Keep in mind that Industrials have the highest correlation with the S&P500 historically of all the S&P sectors.

So Industrials doing well, remaining in an uptrend, consisting of higher lows and higher highs, is historically NOT evidence of a weak market.

Quite the opposite, in fact:

Also keep in mind that Technology has been a leader this bull market.

And even with some underperformance this year, the Technology Index remains within a well-defined uptrend.

When you go back and study every bull market over the past 100 years, you'll notice how Technology was a leader in almost every single of them.

This cycle is clearly no different.

Here is Tech overlaid with the Equally-weighted S&P500 Index to give you some broader perspective on the strength of this bull market: