There were 18 sector bullish percent charts that reversed up into X's last week, with none that reversed lower.
SECTOR BULLISH PERCENT CHANGES
| Reversed to X | Reversed to O |
|---|---|
| 18 (BPAERO | 40), (BPAUTO | 66), (BPBUSI | 62), (BPCOMP | 52), (BPELEC | 68), (BPFOOD | 52), (BPGUTI | 44), (BPHEAL | 58), (BPINSU | 60), (BPLEIS | 58), (BPMACH | 70), (BPPROT | 60), (BPREST | 50), (BPSOFT | 60), (BPTELE | 54), (BPTRAN | 56), (BPWALL | 72), (BPWAST | 46), |
0 |
| To Xs | To Os |
|---|---|
| Internet ( 0.13 to 62 ) | None |
Average Level
56.23
| Sector |
|---|
| None |
| Sector |
|---|
| Aerospace Airline (40%) - Bull Confirmed |
| Utilities / Gas (44%) - Bull Confirmed |
| Restaurants (50%) - Bear Correction |
| Textiles / Apparel (50%) - Bull Confirmed |
| Waste Management (46%) - Bear Correction |
| Sector |
|---|
| Biomedics/Genetics (50%) - Bear Confirmed |
| Finance (50%) - Bull Correction |
| Internet (56%) - Bull Correction |
| Real Estate (52%) - Bear Alert |
| Retailing (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 mostly PT charts rising this week, with 6 rising and 1 moving lower. The following sector charts rose: Chemicals [^PTCHEM], Electronics [^PTELEC], Forest Prods/Paper [^PTFORE]-Rev. , Healthcare [^PTHEAL], Internet [^PTINET], Precious Metals [^PTPREC]. The following sector chart fell: Gaming [^PTGAME]. 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 falling sector RSX charts this week, with 17 falling and 2 rising. The following sector charts rose: Oil Service [^RSXOILS]-Rev. , Protection Safety Equipment [^RSXPROT]. The following sector charts fell: Aerospace Airline [^RSXAERO], Autos and Parts [^RSXAUTO], Banks [^RSXBANK], Biomedics/Genetics [^RSXBIOM], Business Products [^RSXBUSI], Computers [^RSXCOMP]-Rev. , Finance [^RSXFINA]-Rev. , Internet [^RSXINET]-Rev. , Leisure [^RSXLEIS], Oil [^RSXOIL], Real Estate [^RSXREAL], Retailing [^RSXRETA], Savings & Loans [^RSXSAVI], Steel/Iron [^RSXSTEE], Textiles/Apparel [^RSXTEXT], Transports/Non Air [^RSXTRAN], Waste Management [^RSXWAST]. 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 equal amounts of rising and falling sector RSP charts this week, with 4 both rising and falling. The following sector charts rose: Healthcare [^RSPHEAL], Precious Metals [^RSPPREC], Semiconductors [^RSPSEMI], Software [^RSPSOFT]. The following sector charts fell: Gaming [^RSPGAME], Oil [^RSPOIL], Oil Service [^RSPOILS]-Rev. , Restaurants [^RSPREST]. There were 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 - |
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 07/15/2020 | Full Report |
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