The Fred Report - Sector Review November 2012
Since the last sector review, the market has embarked on the forecasted fall correction. Prices tested near support areas and are rebounding sharply, and there has been deterioration in most technical indicators. Sentiment remains intermediate-term positive. Weekly stochastics have come down, while dailies are oversold, in most instances. This indicator configuration often means a choppy correction, and this is what we expect from here on out – the “bobbing cork” alluded to in prior reports. We expect some fairly large sector rotation to occur in 2013, and have a “hit list” of sectors, but do not want to make definitive changes until 2013.
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