Investors have lost total confidence in these stocks

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Talk about industrial and materials stocks being as cold as a slab of frozen beef. The industrial and materials sectors of the S&P 500 have tanked 6.49% and 7.47%, respectively, since Aug. 16, according to research out of Sundial Capital Research. That makes each sector the worst performers from within the S&P 500 over this time span. The S&P 500 is roughly flat going back to Aug. 16.Sundial says the selling pressure is "getting extreme," and the data bears that out. The percentage of industrial stocks holding above their 50-day moving average has plunged below 20%, a level not seen since the height of COVID-19 pandemic in early 2020. Fewer than 60% of industrial stocks closed above their 200-day moving average earlier this week, indicating a severe loss in confidence in the sector among investors."As we've referenced in the past, healthy markets (and sectors) typically hold above that threshold. It might quickly drop below 60% during uptrends, but it's usually a
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