As long as ludicrous volatility is absent, the market isn’t going to do anything really nasty. It is a lot easier to analyze the market when it is between high and lows. The usual Monday night rescue operation has put prices close to the recent 390 SPY reject area.
A possible way of evaluating individual stocks is to look at OC performance. CO is a universal period that concentrates on the general price levels of all stocks, OC is a period where individual issues and sectors are valued within the general CO framework.
The table above sorts the sector ETFs by OC. There is no clear investing advice here, but the ordering seems significant.