The recent more bullish price action in the overall market has generated no less than 14 sectors (out of 39) which pass the five tests for an up trend and which have also outperformed the overall market by at least 5% over the last three months.

Meanwhile, there are 2 sectors which pass the tests for a down trend and which have also under performed the overall market by at least 5% over the last three months.

Up trends:
Automobiles
Chemicals
Electricity
Electronics and electrical equipment
Food producers
General industrials
Industrial engineering
Mobile telecoms
Non life insurance
Oil equipment
Personal goods
Pharmaceuticals
Technology
Tobacco

Down trends:
Alternative energy
Health care