Over the past week of market action, there were 11 sector bullish percent charts that reversed up into Xs, while 3 reversed down into Os.
SECTOR BULLISH PERCENT CHANGES
| Reversed to X | Reversed to O |
|---|---|
| 11 (BPAERO | 64), (BPBANK | 54), (BPFINA | 56), (BPGAME | 74), (BPLEIS | 56), (BPMEDI | 60), (BPOIL | 46), (BPREAL | 66), (BPSAVI | 48), (BPTEXT | 64), (BPWALL | 70), |
3 (BPINET | 58), (BPPREC | 58), (BPSOFT | 56), |
| To Xs | To Os |
|---|---|
| Metals Non Ferrous ( 0.97 to 54 ) | None |
Average Level
61.88
| Sector |
|---|
| None |
| Sector |
|---|
| Oil (46%) - Bear Correction |
| Oil Service (42%) - Bull Alert |
| Savings & Loans (48%) - Bull Confirmed |
| Sector |
|---|
| Internet (58%) - Bull Correction |
| Precious Metals (58%) - Bull Correction |
| Software (56%) - Bear Confirmed |
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 26 rising and none moving lower. The following sector charts rose: Aerospace Airline [^PTAERO]-Rev. , Banks [^PTBANK]-Rev. , Business Products [^PTBUSI], Chemicals [^PTCHEM], Computers [^PTCOMP], Food Beverages/Soap [^PTFOOD], Forest Prods/Paper [^PTFORE], Gaming [^PTGAME]-Rev. , Healthcare [^PTHEAL], Household Goods [^PTHOUS], Insurance [^PTINSU], Leisure [^PTLEIS]-Rev. , Machinery and Tools [^PTMACH], Media [^PTMEDI]-Rev. , Metals Non Ferrous [^PTMETA], Oil Service [^PTOILS], Precious Metals [^PTPREC], Protection Safety Equipment [^PTPROT], Restaurants [^PTREST], Retailing [^PTRETA], Semiconductors [^PTSEMI], Software [^PTSOFT], Steel/Iron [^PTSTEE], Telephone [^PTTELE], Transports/Non Air [^PTTRAN], Waste Management [^PTWAST]. There were 5 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 12 falling and 9 rising. The following sector charts rose: Autos and Parts [^RSXAUTO]-Rev. , Computers [^RSXCOMP]-Rev. , Gaming [^RSXGAME], Oil [^RSXOIL], Oil Service [^RSXOILS], Restaurants [^RSXREST], Retailing [^RSXRETA]-Rev. , Savings & Loans [^RSXSAVI]-Rev. , Textiles/Apparel [^RSXTEXT]-Rev. . The following sector charts fell: Biomedics/Genetics [^RSXBIOM], Drugs [^RSXDRUG], Forest Prods/Paper [^RSXFORE]-Rev. , Healthcare [^RSXHEAL], Leisure [^RSXLEIS], Media [^RSXMEDI], Precious Metals [^RSXPREC], Protection Safety Equipment [^RSXPROT]-Rev. , Semiconductors [^RSXSEMI]-Rev. , Software [^RSXSOFT], Telephone [^RSXTELE], Transports/Non Air [^RSXTRAN]. |
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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 mostly falling sector RSP charts this week, with 7 falling and 5 rising. The following sector charts rose: Building [^RSPBUIL], Electronics [^RSPELEC], Household Goods [^RSPHOUS], Machinery and Tools [^RSPMACH], Steel/Iron [^RSPSTEE]. The following sector charts fell: Banks [^RSPBANK], Biomedics/Genetics [^RSPBIOM], Drugs [^RSPDRUG], Media [^RSPMEDI]-Rev. , Oil [^RSPOIL], Oil Service [^RSPOILS], Textiles/Apparel [^RSPTEXT]-Rev. . 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 08/05/2020 | Full Report |
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