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The contents of the Transmissions areFinancials closed the week at a 4wk relative strength low and has now settled into a pattern of - so far - minor lower highs and lows since setting a 2yr high at the end of May indicating a correction of some magnitude is underway, albeit with trendline support not far below. Consumer & Mortgage is LT best but was worst on the week, not far off the 5yr relative strength high set at the end of May but with a lower high and low subsequently in place. Nonlife Insurance is also technically strong despite having been in a minor downtrend since setting a +2yr relative strength high in May, but the group may be set to advance having now successfully tested from above the LT downtrend through mid 09 broken in Q1, with Full Line and Re recently best and P&C testing support. At the same time Investment Svcs is on the cusp of turning technically strong, Mon setting a 2yr high that nevertheless failed to decisively clear the best levels from Feb, recently led by Exchanges with Brokers in a similar situation to the parent subsector, while Integrated Banks was worst amongst all groups internally having set a +2yr high late May. Regional Banks has been LT worst internally but is in danger of being eclipsed by Real Estate notwithstanding a modest improvement on the week. provided on an as is basis and MarketScalpel Inc makes no representations or warranties, express or implied, as to the accuracy, completeness, or fitness for any purpose of the content provided, and disclaims any implied warranty of merchantability or non-infringement. The information mentioned in this Transmission is subject to continuous change and MarketScalpel Inc assumes no responsibility to update or amend any such information.
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