More Sectors Join The Oversold Club

Summary Financials and Materials fell 1.62% and 0.73%, respectively, on Wednesday, pushing both into oversold territory and bringing the total to seven of the S&P 500’s eleven sectors. Materials and energy have spent the fewest days oversold at 15 and 17, compared with 25 for the S&P 500. Consumer discretionary’s chart shows why it leads in oversold days, although 42 of its 57 readings came during a stretch of just 43 sessions earlier this year. Narongrit Doungmanee/iStock via Getty Images Financials and Materials fell 1.62% and 0.73%, respectively, on Wednesday, pushing both into oversold territory and bringing the total to seven of the S&P 500’s eleven sectors. That’s the most since 3/30 and just the 11th trading day this This article was written by Bespoke Investment Group 48.9K Followers Follow Bespoke Investment Group provides some of the most original content and intuitive thinking on the Street. Founded by Paul Hickey and Justin Walters, formerly of Birinyi Associates and creators of the acclaimed TickerSense blog, Bespoke offers multiple products that allow anyone, from institutions to the most modest investor, to gain the data and knowledge necessary to make intelligent and profitable investment decisions. Along with running their Think B.I.G. finance blog, Bespoke provides timely investment ideas through its Bespoke Premium (https://bespokepremium.com/) subscription service and also manages money (https://bespokepremium.com/mm) for high net worth individuals. Visit: Bespoke Investment Group (https://bespokeinvest.com/)