Over the past week of market action, there were four sector bullish percent charts that reversed up into a column of Xs, while two reversed down into Os.
SECTOR BULLISH PERCENT CHANGES
| Reversed to X | Reversed to O |
|---|---|
| 4 (BPEUTI | 56), (BPFORE | 54), (BPGAME | 48), (BPSEMI | 76), |
2 (BPBIOM | 50), (BPWAST | 38), |
| To Xs | To Os |
|---|---|
| Healthcare ( 0.84 to 48 ) | Building ( 0.84 to 60 ) |
Average Level
48.96
| Sector |
|---|
| None |
| Sector |
|---|
| Gaming (48%) - Bear Correction |
| Textiles / Apparel (46%) - Bull Confirmed |
| Sector |
|---|
| Autos & Parts (54%) - Bear Alert |
| Biomedics/Genetics (50%) - Bear Confirmed |
| Business Products (56%) - Bear Alert |
| Electronics (54%) - Bear Alert |
| Finance (50%) - Bull Correction |
| Internet (56%) - Bull Correction |
| Machinery and Tools (54%) - Bear Alert |
| Real Estate (52%) - Bear Alert |
| Retailing (52%) - Bull Correction |
| Software (52%) - Bear Confirmed |
| 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 8 falling and 2 rising. The following sector charts rose: Electronics [^PTELEC], Precious Metals [^PTPREC]. The following sector charts fell: Aerospace Airline [^PTAERO], Banks [^PTBANK], Insurance [^PTINSU]-Rev. , Media [^PTMEDI]-Rev. , Protection Safety Equipment [^PTPROT]-Rev. , Restaurants [^PTREST], Steel/Iron [^PTSTEE]-Rev. , Textiles/Apparel [^PTTEXT]. There were 4 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 20 falling and 3 rising. The following sector charts rose: Forest Prods/Paper [^RSXFORE], Internet [^RSXINET], Precious Metals [^RSXPREC]. The following sector charts fell: Aerospace Airline [^RSXAERO], Autos and Parts [^RSXAUTO]-Rev. , Banks [^RSXBANK]-Rev. , Biomedics/Genetics [^RSXBIOM]-Rev. , Business Products [^RSXBUSI]-Rev. , Drugs [^RSXDRUG]-Rev. , Healthcare [^RSXHEAL]-Rev. , Leisure [^RSXLEIS], Machinery and Tools [^RSXMACH]-Rev. , Media [^RSXMEDI], Oil [^RSXOIL], Oil Service [^RSXOILS], Real Estate [^RSXREAL], Restaurants [^RSXREST], Retailing [^RSXRETA], Savings & Loans [^RSXSAVI]-Rev. , Steel/Iron [^RSXSTEE]-Rev. , Textiles/Apparel [^RSXTEXT], Transports/Non Air [^RSXTRAN]-Rev. , Waste Management [^RSXWAST]. There were 0 that moved to buy signals and 5 that moved to sell signals. The following were buy signals: . The following were sell signals: Business Products [^RSXBUSI],Leisure [^RSXLEIS],Restaurants [^RSXREST],Retailing [^RSXRETA],Waste Management [^RSXWAST]. |
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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 equal amounts of rising and falling sector RSP charts this week, with 4 both rising and falling. The following sector charts rose: Autos and Parts [^RSPAUTO], Electronics [^RSPELEC], Metals Non Ferrous [^RSPMETA], Precious Metals [^RSPPREC]. The following sector charts fell: Biomedics/Genetics [^RSPBIOM]-Rev. , Drugs [^RSPDRUG]-Rev. , Oil [^RSPOIL], Restaurants [^RSPREST]. There were 2 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 - |
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 07/08/2020 | Full Report |
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