Staples Reach Oversold as Investors Give Up

Investors have largely given up on Consumer Staples, and they carry nearly the lowest weight in the S&P 500 since 1990. Selling pressure has been severe and protracted enough that the McClellan Summation Index for the sector is oversold, a rare feat during an uptrending market. Insiders aren't buying much, though, and other measures are showing only moderate extremes at best.

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