Over the past week of market action, there were five sector bullish percent charts that reversed up into a column of Xs, while only the bullish percent for precious metals (^BPPREC) reversed down into a column of Os.
SECTOR BULLISH PERCENT CHANGES
| Reversed to X | Reversed to O |
|---|---|
| 5 (BPFOOD | 52), (BPMETA | 50), (BPOILS | 42), (BPSAVI | 40), (BPSOFT | 66), |
1 (BPPREC | 48), |
| To Xs | To Os |
|---|
Average Level
58.72
| Sector |
|---|
| None |
| Sector |
|---|
| Banks (50%) - Bull Alert |
| Computers (48%) - Bull Confirmed |
| Metals Non Ferrous (50%) - Bull Confirmed |
| Oil (46%) - Bear Correction |
| Oil Service (42%) - Bull Confirmed |
| Savings & Loans (40%) - Bull Alert |
| Telephone (48%) - Bull Confirmed |
| Waste Management (42%) - Bull Alert |
| Sector |
|---|
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 34 rising and none moving lower. The following sector charts rose: Aerospace Airline [^PTAERO], Autos and Parts [^PTAUTO], Banks [^PTBANK]-Rev. , Building [^PTBUIL], Business Products [^PTBUSI], Chemicals [^PTCHEM], Computers [^PTCOMP], Drugs [^PTDRUG], Electronics [^PTELEC], Utilities/Electricity [^PTEUTI], Finance [^PTFINA], Food Beverages/Soap [^PTFOOD], Forest Prods/Paper [^PTFORE], Gaming [^PTGAME], Gas Utilities [^PTGUTI], Healthcare [^PTHEAL], Household Goods [^PTHOUS], Internet [^PTINET], Insurance [^PTINSU]-Rev. , Leisure [^PTLEIS], Machinery and Tools [^PTMACH], Metals Non Ferrous [^PTMETA], Oil [^PTOIL], Oil Service [^PTOILS]-Rev. , Protection Safety Equipment [^PTPROT]-Rev. , Real Estate [^PTREAL], Restaurants [^PTREST], Retailing [^PTRETA], Savings & Loans [^PTSAVI]-Rev. , Software [^PTSOFT], Steel/Iron [^PTSTEE]-Rev. , Telephone [^PTTELE], Textiles/Apparel [^PTTEXT], Transports/Non Air [^PTTRAN]-Rev. . There were 7 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 14 falling and 13 rising. The following sector charts rose: Aerospace Airline [^RSXAERO], Autos and Parts [^RSXAUTO]-Rev. , Building [^RSXBUIL], Chemicals [^RSXCHEM], Gaming [^RSXGAME], Household Goods [^RSXHOUS], Leisure [^RSXLEIS], Protection Safety Equipment [^RSXPROT]-Rev. , Real Estate [^RSXREAL]-Rev. , Restaurants [^RSXREST]-Rev. , Retailing [^RSXRETA]-Rev. , Steel/Iron [^RSXSTEE], Textiles/Apparel [^RSXTEXT]-Rev. . The following sector charts fell: Biomedics/Genetics [^RSXBIOM], Computers [^RSXCOMP], Drugs [^RSXDRUG], Electronics [^RSXELEC], Utilities/Electricity [^RSXEUTI], Food Beverages/Soap [^RSXFOOD], Healthcare [^RSXHEAL], Internet [^RSXINET], Insurance [^RSXINSU], Oil [^RSXOIL], Precious Metals [^RSXPREC], Semiconductors [^RSXSEMI]-Rev. , Telephone [^RSXTELE], Wall Street [^RSXWALL]. There were 0 that moved to buy signals and 3 that moved to sell signals. The following were buy signals: . The following were sell signals: Biomedics/Genetics [^RSXBIOM],Electronics [^RSXELEC],Internet [^RSXINET]. |
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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 only rising sector RSP charts this week, with 17 rising and none moving lower. The following sector charts rose: Autos and Parts [^RSPAUTO], Biomedics/Genetics [^RSPBIOM], Building [^RSPBUIL], Business Products [^RSPBUSI], Chemicals [^RSPCHEM], Drugs [^RSPDRUG], Electronics [^RSPELEC], Finance [^RSPFINA], Forest Prods/Paper [^RSPFORE], Gaming [^RSPGAME], Internet [^RSPINET], Leisure [^RSPLEIS], Media [^RSPMEDI], Metals Non Ferrous [^RSPMETA], Protection Safety Equipment [^RSPPROT], Retailing [^RSPRETA], Textiles/Apparel [^RSPTEXT]. No charts reversed in column. |
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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 05/27/2020 | Full Report |
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