In the past week of market action, the bullish percent for internet (^BPINET) was the only sector bullish percent chart to reverse up into Xs, while seven reversed down into Os.
SECTOR BULLISH PERCENT CHANGES
| Reversed to X | Reversed to O |
|---|---|
| 1 (BPINET | 62), |
7 (BPAERO | 60), (BPAUTO | 70), (BPGAME | 78), (BPGUTI | 44), (BPOIL | 38), (BPOILS | 36), (BPWAST | 52), |
| To Xs | To Os |
|---|---|
| Metals Non Ferrous ( 0.97 to 54 ) | None |
Average Level
60.21
| Sector |
|---|
| None |
| Sector |
|---|
| None |
| Sector |
|---|
| Aerospace Airline (60%) - Bull Correction |
| Autos & Parts (70%) - Bull Confirmed |
| Utilities / Electric (54%) - Bull Correction |
| Gaming (78%) - Bull Confirmed |
| Healthcare (50%) - Bull Correction |
| Insurance (66%) - Bear Alert |
| Precious Metals (56%) - Bull Correction |
| Protection Safety Eq (60%) - Bear Alert |
| Semiconductors (58%) - Bear Confirmed |
| Textiles / Apparel (60%) - Bull Correction |
| Waste Management (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 5 rising and 1 moving lower. The following sector charts rose: Forest Prods/Paper [^PTFORE], Leisure [^PTLEIS], Restaurants [^PTREST], Software [^PTSOFT], Textiles/Apparel [^PTTEXT]-Rev. . The following sector chart fell: Semiconductors [^PTSEMI]-Rev. . There were 1 that reversed to X and 1 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 8 falling and 6 rising. The following sector charts rose: Gaming [^RSXGAME], Gas Utilities [^RSXGUTI]-Rev. , Leisure [^RSXLEIS], Protection Safety Equipment [^RSXPROT]-Rev. , Restaurants [^RSXREST], Textiles/Apparel [^RSXTEXT]. The following sector charts fell: Banks [^RSXBANK], Electronics [^RSXELEC], Finance [^RSXFINA], Food Beverages/Soap [^RSXFOOD], Oil [^RSXOIL], Oil Service [^RSXOILS], Retailing [^RSXRETA]-Rev. , Semiconductors [^RSXSEMI]. Protection Safety Equipment [^RSXPROT] was the only sector RSX chart that moved to a buy signal while none moved to a sell signal. |
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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 mostly falling sector RSP charts this week, with 7 falling and 1 rising. The following sector chart rose: Gaming [^RSPGAME]. The following sector charts fell: Biomedics/Genetics [^RSPBIOM], Drugs [^RSPDRUG], Forest Prods/Paper [^RSPFORE], Oil [^RSPOIL], Steel/Iron [^RSPSTEE]-Rev. , Wall Street [^RSPWALL]-Rev. , Waste Management [^RSPWAST]-Rev. . There were 3 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 - |
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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 08/26/2020 | Full Report |
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