Over the past week of market action, the bullish percent chart for precious metals was the only sector to reverse up into a column of Xs, while 10 reversed down into Os.
SECTOR BULLISH PERCENT CHANGES
| Reversed to X | Reversed to O |
|---|---|
| 1 (BPPREC | 58), |
10 (BPBUIL | 58), (BPDRUG | 50), (BPFINA | 50), (BPFORE | 46), (BPHEAL | 42), (BPINET | 60), (BPMEDI | 54), (BPMETA | 50), (BPSOFT | 64), (BPTELE | 48), |
| To Xs | To Os |
|---|---|
| None | Biomedics/Genetics ( 0.17 to 52 ) |
Average Level
49.47
| Sector |
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| None |
| Sector |
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| None |
| Sector |
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| Autos & Parts (54%) - Bear Alert |
| Building (58%) - Bear Confirmed |
| Business Products (56%) - Bear Alert |
| Drugs (50%) - Bull Correction |
| Electronics (54%) - Bear Alert |
| Finance (50%) - Bull Correction |
| Household Goods (64%) - Bear Alert |
| Internet (60%) - Bull Correction |
| Machinery and Tools (54%) - Bear Alert |
| Media (54%) - Bull Correction |
| Metals Non Ferrous (50%) - Bull Correction |
| Protection Safety Eq (56%) - Bear Alert |
| Real Estate (54%) - Bear Alert |
| Retailing (52%) - Bull Correction |
| Semiconductors (70%) - Bull Confirmed |
| Software (64%) - Bear Alert |
| Transports / Non Air (50%) - Bull Correction |
| Wall Street (66%) - Bear Alert |
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 mostly falling sector PT charts this week, with 7 falling and 1 rising. The following sector chart rose: Precious Metals [^PTPREC]. The following sector charts fell: Aerospace Airline [^PTAERO]-Rev. , Banks [^PTBANK]-Rev. , Forest Prods/Paper [^PTFORE]-Rev. , Gaming [^PTGAME]-Rev. , Gas Utilities [^PTGUTI], Restaurants [^PTREST]-Rev. , Textiles/Apparel [^PTTEXT]-Rev. . There were 6 that reversed to O. |
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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 13 falling and 7 rising. The following sector charts rose: Biomedics/Genetics [^RSXBIOM], Building [^RSXBUIL], Computers [^RSXCOMP], Drugs [^RSXDRUG], Internet [^RSXINET], Precious Metals [^RSXPREC], Software [^RSXSOFT]-Rev. . The following sector charts fell: Aerospace Airline [^RSXAERO], Chemicals [^RSXCHEM]-Rev. , Forest Prods/Paper [^RSXFORE], Gaming [^RSXGAME]-Rev. , Gas Utilities [^RSXGUTI], Leisure [^RSXLEIS], Media [^RSXMEDI]-Rev. , Metals Non Ferrous [^RSXMETA], Oil [^RSXOIL], Oil Service [^RSXOILS], Real Estate [^RSXREAL], Restaurants [^RSXREST], Textiles/Apparel [^RSXTEXT]. 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: Gaming [^RSXGAME],Gas Utilities [^RSXGUTI],Metals Non Ferrous [^RSXMETA]. |
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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 8 rising and none moving lower. The following sector charts rose: Building [^RSPBUIL], Electronics [^RSPELEC], Household Goods [^RSPHOUS], Metals Non Ferrous [^RSPMETA], Steel/Iron [^RSPSTEE], Textiles/Apparel [^RSPTEXT], Wall Street [^RSPWALL], Waste Management [^RSPWAST]. 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 06/24/2020 | Full Report |
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