Sector Performance: Pain Pain Go Away…

p>We missed the FED rate cut by ½ of a day, not too bad. So far futures are responding nicely to the news. We only wish it would have come earlier. Don’t be surprised if the FED cuts again when they meet again in a couple of weeks. Next up is another bailout, one for homeowners. Until housing prices firm up, unfreezing credit and lower interest rates will be swimming upstream.

As we started our weekly routine of screening industry charts, we almost stopped halfway through and thought, “What’s the point?” Chart after chart looks miserable and the few that are on the upswing are sooooo extended on the upside. But there were a few charts were showing signs of life.

Clearly there is move to safety by the big money. The only style chart that looked “good” is US Large Cap Value Stocks. So it was no surprise to see the following industries will bullish formations:

Defense S