Daily Power Snapshots – March 28th, 2024
Daily Power Snapshots – March 28th, 2024
Let’s Start Here
Daily Power Snapshots are a new morning review of the sector and subsector data spreadsheets that we post from time to time. This will be part of the elite memberships and will hit your inbox early for your daily preparation. These quickly show where each segment stands on the long, intermediate and short-term views from breadth and momentum perspectives. Also, keep an eye out for the weekend version where we put each snapshot for the week in a carousel so you can see how things changed as we progressed through the week.
The day started off slow, but picked up in the afternoon and finished strong with many sectors and subsectors going green. Financials continues to build, now with Regionals and Thrifts finally getting some flow.
All but two subsectors moving back to green in the price column. Industrial Metals hit the Nitrous today which hopefully can open it up to a bigger move. Aerospace & Defense CFG is at 111, which is getting hot, has us on the lookout for a short term peak and watching to see if it can fall into an RSI PosRev if it consolidates.
Those late buyers brought back a lot of green and wiped off all the pink for the day.
Yesterday’s selling got trumped today with a lot of buying pressure across many sectors and subsectors. It was broad and wide. Notable Tech and Communication Services saw the least buying pressure.
A ton of new 10day highs today doesn’t suggest a correction is taking hold with the last few days of weakness.
So, buyers threw some cold water on the sellers today and the simmering stopped for now. Buyers continue to dominate whenever they want to, reminding us there is still a decent contingent of underinvested investors of all types.
This information is for educational purposes only and is not a recommendation. Please see the full disclosure in the footer.
As always, hope this helps!
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