Over the past week of market action, there were 15 sector bullish percent charts that reversed up into a column of Xs while none reversed down.
SECTOR BULLISH PERCENT CHANGES
| Reversed to X | Reversed to O |
|---|---|
| 15 (BPBANK | 38), (BPBUSI | 54), (BPCOMP | 44), (BPELEC | 54), (BPEUTI | 44), (BPFINA | 46), (BPGUTI | 40), (BPINET | 60), (BPOIL | 42), (BPPROT | 48), (BPREAL | 44), (BPSEMI | 72), (BPTELE | 44), (BPTRAN | 48), (BPWALL | 62), |
0 |
| To Xs | To Os |
|---|---|
| Software ( 0.4 to 64 ) | Precious Metals ( 0.89 to 48 ) |
Average Level
51.88
| Sector |
|---|
| Savings & Loans (20%) - Bear Confirmed |
| Sector |
|---|
| Banks (38%) - Bull Alert |
| Computers (44%) - Bull Confirmed |
| Drugs (50%) - Bull Alert |
| Utilities / Electric (44%) - Bear Correction |
| Finance (46%) - Bull Confirmed |
| Utilities / Gas (40%) - Bear Correction |
| Healthcare (50%) - Bull Confirmed |
| Insurance (44%) - Bull Alert |
| Media (48%) - Bull Confirmed |
| Oil (42%) - Bear Correction |
| Protection Safety Eq (48%) - Bear Correction |
| Real Estate (44%) - Bull Alert |
| Steel/Iron (40%) - Bull Alert |
| Telephone (44%) - Bull Confirmed |
| Transports / Non Air (48%) - Bear Correction |
| Waste Management (40%) - Bull Alert |
| Sector |
|---|
| Software (58%) - 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 27 rising and none moving lower. The following sector charts rose: Autos and Parts [^PTAUTO], Biomedics/Genetics [^PTBIOM], Building [^PTBUIL], Business Products [^PTBUSI], Chemicals [^PTCHEM], Drugs [^PTDRUG], Electronics [^PTELEC], Utilities/Electricity [^PTEUTI], Finance [^PTFINA], Forest Prods/Paper [^PTFORE]-Rev. , Gaming [^PTGAME], Gas Utilities [^PTGUTI]-Rev. , Healthcare [^PTHEAL], Household Goods [^PTHOUS], Internet [^PTINET], Leisure [^PTLEIS], Machinery and Tools [^PTMACH]-Rev. , Media [^PTMEDI], Metals Non Ferrous [^PTMETA], Oil [^PTOIL], Real Estate [^PTREAL], Restaurants [^PTREST], Retailing [^PTRETA], Semiconductors [^PTSEMI], Software [^PTSOFT], Textiles/Apparel [^PTTEXT], Wall Street [^PTWALL]. There were 3 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 falling sector RSX charts this week, with 11 falling and 6 rising. The following sector charts rose: Aerospace Airline [^RSXAERO]-Rev. , Building [^RSXBUIL], Gaming [^RSXGAME], Leisure [^RSXLEIS]-Rev. , Metals Non Ferrous [^RSXMETA]-Rev. , Savings & Loans [^RSXSAVI]. The following sector charts fell: Biomedics/Genetics [^RSXBIOM]-Rev. , Drugs [^RSXDRUG]-Rev. , Electronics [^RSXELEC]-Rev. , Utilities/Electricity [^RSXEUTI], Food Beverages/Soap [^RSXFOOD], Forest Prods/Paper [^RSXFORE], Internet [^RSXINET]-Rev. , Precious Metals [^RSXPREC]-Rev. , Restaurants [^RSXREST], Telephone [^RSXTELE], Wall Street [^RSXWALL]. Drugs [^RSXDRUG] was the only sector RSX chart that moved to a sell signal, while none moved to a buy signal. |
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| ^RSX Charts Reversing Up - | ^RSX Charts Reversing Down - |
| ^RSX Charts Moving Higher - | ^RSX Charts Moving Lower - |
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There were only rising sector RSP charts this week, with 16 rising and none moving lower. The following sector charts rose: Biomedics/Genetics [^RSPBIOM], Building [^RSPBUIL], Business Products [^RSPBUSI]-Rev. , Chemicals [^RSPCHEM], Food Beverages/Soap [^RSPFOOD], Gaming [^RSPGAME], Household Goods [^RSPHOUS], Internet [^RSPINET], Leisure [^RSPLEIS], Media [^RSPMEDI], Oil [^RSPOIL], Precious Metals [^RSPPREC], Retailing [^RSPRETA], Software [^RSPSOFT], Telephone [^RSPTELE], Textiles/Apparel [^RSPTEXT]. There were 1 that reversed to X. |
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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 05/20/2020 | Full Report |
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