|All the major US indices were negative. For the week the Dow Jones Industrial Average dropped 507.00 points, or 4.02%. The Standard Poor's 500 Index lost 75.83 points, or 5.41%, while the Nasdaq Composite is down 99.92 points, or 4.10%.|
All sectors were negative this week. The Energy sector was the worst performing sector of the week followed by the Utilities sector. The Consumer Discretionary sector was the strongest sector last week followed by the Consumer Staples sector.
For the second week in a row the Industrial Goods sector is the most overvalued sector followed by Services, while Resorts Casinos, Medical Equip. Wholesale, and Education Training Services are among the most overvalued industries.
The Utilities sector is the most oversold sector followed by Basic Materials, while Auto Manufacturers/Major, Wholesale Other, and Processing Systems/Prods are among the most oversold industries.