DBD Strategy Daily - WEAK SECTORS NEED TO BOUNCE SOON...
European indices are still hesitant. We had a medium buy signal from financials, but non-cyclical consumer goods are not moving up enough to help lifting indices higher. Banks and Insurance represent about 20% of the Stoxx 600, where as Healthcare, Food, and Consumer Goods (part of the sector is cyclical in theory) represent 26%. Those three sectors have been laggards for a long time. Should indices move higher, those sectors will probably lag more. Yet, we need their prices to rise too, even modestly, in order to develop a sustainable trend. This is the challenge of the coming week or two.
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