Since my last sector analysis post we've seen improvement and false breakdown reversals in many of the weaker sectors.

Starting with Technology Sector. Still in the same trend but knocking at the door once again to try to break into the upper half of the overall range. The Red & Green Clouds show potential resistance zones. These zones are not absolutes and are just for reference. They are based on Ichimoku Clouds if anyone wishes to look them up! $XLK

$XLF Financials very strong and pushing to breakout above the range. Will likely float around this upper range for a while and test it's upper boundaries as the pivot builds.

$XLY Consumer Discretionary was one of the weakest sectors in my last post and despite a rally it still is. We are now right at the breakdown trend so the action here is very important. Best long term scenario is some basing sideways to form a solid range between the $135 and $145 approx areas.

Materials has had a textbook looking double bottom and is now peaking above the trend. $XLB Needs to stay up in this area as it consolidates to continue higher. Now back above the major MAs with them trending upward again.

$XLRE another of the weakest sectors has established a range after escaping the breakdown. I would be skeptical of any breakout from this area unless it bases for a lot longer. See it is right at the downward trend line also.

$XLE Energy still right up there close to All Time Highs. Not much to say here except it could go sideways here in this range for as long as it likes. Note Green Support cloud in the lower half of the range.

$XLP Consumer Staples similar to Energy just trading in that big range now. Could continue to do so for a long time before deciding a direction.

Industrials have improved the past few weeks $XLI. Sitting in that top half of the range. In stocks these All Time High Breakout attempts have mainly been failures for the past few months. It remains to be seen if it will be the same with the Sectors.

$XLC Communications Sector is the weakest from my last post. It has since reversed strongly and up out of the range. This reversal is certainly a positive and has pushed the sector above the Key MAs. We are approaching a large trend line now where I expect it to have difficulty. This will need a lot of basing after such a huge drawdown.

$XLV Not much has happened in healthcare sector still in that big range though we have moved to the upper half again. Currently pulling back in a measured fashion. Will need to push back toward the upper half of the range soon.

Utilities $XLU have rallied but still in a precarious position at the lower half of a range. I think this goes back to the bottom of the range again and potentially sets up to breakdown.