In the last week of market action, the bullish percent chart for waste management [^BPWAST] was the only sector bullish percent chart to reverse up into Xs, while none reversed down into Os.
SECTOR BULLISH PERCENT CHANGES
| Reversed to X | Reversed to O |
|---|---|
| 1 (BPWAST | 54), |
0 |
| To Xs | To Os |
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Average Level
51.16
| Sector |
|---|
| Oil (22%) - Bull Correction |
| Oil Service (20%) - Bear Confirmed |
| Sector |
|---|
| Biomedics/Genetics (42%) - Bull Confirmed |
| Computers (50%) - Bull Confirmed |
| Drugs (44%) - Bull Confirmed |
| Finance (46%) - Bear Correction |
| Healthcare (50%) - Bull Confirmed |
| Internet (44%) - Bull Confirmed |
| Leisure (48%) - Bull Confirmed |
| Media (44%) - Bull Confirmed |
| Metals Non Ferrous (40%) - Bull Confirmed |
| Precious Metals (42%) - Bull Confirmed |
| Restaurants (44%) - Bear Correction |
| Telephone (38%) - Bull Alert |
| Sector |
|---|
| Utilities / Electric (66%) - Bear Alert |
| Semiconductors (60%) - Bear Alert |
| Transports / Non Air (52%) - Bull Correction |
SECTOR INDICATOR CHART CHANGES
PT is the percentage of stocks within a sector that are trading above their bullish support lines. RSX is the percentage of stocks within a sector whose relative strength charts are in a column of Xs. RSP is the percentage of stocks within a sector whose relative strength charts are on a buy signal. The strongest sectors, i.e. market leaders, will have most of these indicators positive and moving higher in a column of Xs.
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There were only rising sector PT charts this week, with 5 rising and none moving lower. The following sector charts rose: Biomedics/Genetics [^PTBIOM], Forest Prods/Paper [^PTFORE], Healthcare [^PTHEAL], Leisure [^PTLEIS]-Rev. , Transports/Non Air [^PTTRAN]. There were 1 that reversed to X. |
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| ^PT Charts Reversing Up - | ^PT Charts Reversing Down - |
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| ^PT Charts Moving Higher - | ^PT Charts Moving Lower - |
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There were mostly RSX charts rising this week, with 7 rising and 3 moving lower. The following sector charts rose: Aerospace Airline [^RSXAERO], Biomedics/Genetics [^RSXBIOM], Drugs [^RSXDRUG], Oil Service [^RSXOILS], Precious Metals [^RSXPREC], Protection Safety Equipment [^RSXPROT]-Rev. , Steel/Iron [^RSXSTEE]. The following sector charts fell: Gas Utilities [^RSXGUTI], Household Goods [^RSXHOUS], Metals Non Ferrous [^RSXMETA]-Rev. . There were no sector RSX charts that moved to a buy or sell signal this week. |
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| ^RSX Charts Reversing Up - | ^RSX Charts Reversing Down - |
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| ^RSX Charts Moving Higher - | ^RSX Charts Moving Lower - |
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There were mostly RSP charts rising this week, with 2 rising and 1 moving lower. The following sector charts rose: Biomedics/Genetics [^RSPBIOM], Retailing [^RSPRETA]-Rev. . The following sector chart fell: Wall Street [^RSPWALL]-Rev. . There were 1 that reversed to X and 1 that reversed to O. |
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| ^RSP Charts Reversing Up - | ^RSP Charts Reversing Down - |
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| ^RSP Charts Moving Higher - | ^RSP Charts Moving Lower - |
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FAVORED SECTOR STATUS CHANGES
A sector is considered to be Favored if it has 3 or 4 of the sector indicators (Relative Strength, RSX, RSP, & PT) positive, Average if it has 2 of the 4 indicators positive, & Unfavored if it has 0 or 1 of the indicators positive. The table below contains those sectors that have experienced a Favored Sector Status change over the past week. It is best to focus on sectors that are about 50% or lower on their Bullish Percent charts & are in Xs. Note: If a sector moves from Favored to Average, it doesn't necessarily mean that the sector in question has to be sold - it just means you need to evaluate your individual positions with exposure to that sector.
| Changes since 12/04/2019 | Full Report |
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