S&P 500 Price/Volume Heat Map- 7/12 Trading Day and Week Edition

For the final trading day of the week, the S&P 500 gained about 30 basis points in value, largely on the gains in the financials, discretionary, and healthcare sectors. Strangely and sending an anti-cyclical message, both the industrials and materials fell in value, probably due to UPS' negative preannouncement.

The price/volume heat map does not necessarily reflect overall gains on the market. In fact, the overall price/volume performance looks largely benign with somewhat positive bias. This dynamics is repeated across the market sectors excluding industrials and materials.

For the week Ended 7/12, the price/volume heat map is strongly positive, as the S&P 500 gained about 300 basis points in value. This is despite weak overall volume characteristics on the gain in the market over the last week.