I have a series of momentum charts that encapsulate the SPDR Sectors along with some other key markets like TLT, Gold, Gold miners, Silver, and the US Dollar. It gives me a quick snap shot of where momentum is either building or fading.
For this, I am using the KST indicator developed by Martin Pring. It combines the Rate of Change for 4 different time frames. Anything that is above the zero line ( on the left hand side of the charts ) has bullish momentum; anything below 0 is bearish. For a more complete explanation of the indicator, readers can find an in-depth treatment HERE
While not the fastest indicator in the world, the KST does a good job of summarizing the momentum trends without a bunch of whipsaws and noise. From the charts its easy to compare momentum of the various sectors. For comparison, SPY is shown in the top panel of each chart.