The past week of market action saw 3 sector bullish percent charts reverse up into a column of Xs, while 7 reversed down into a column of Os. There were also 7 changes to the favored sector spectrum this week, all to the downside.
SECTOR BULLISH PERCENT CHANGES
| Reversed to X | Reversed to O |
|---|---|
| 3 (BPGAME | 42), (BPLEIS | 34), (BPREST | 48), |
7 (BPAERO | 30), (BPAUTO | 34), (BPCHEM | 44), (BPELEC | 46), (BPFORE | 46), (BPMACH | 52), (BPRETA | 40), |
| To Xs | To Os |
|---|---|
| Retailing ( 0.22 to 46 ) | None |
Average Level
46.83
| Sector |
|---|
| Biomedics/Genetics (26%) - Bull Correction |
| Drugs (26%) - Bear Confirmed |
| Precious Metals (26%) - Bear Confirmed |
| Sector |
|---|
| Gaming (42%) - Bull Alert |
| Leisure (34%) - Bull Alert |
| Restaurants (48%) - Bear Correction |
| Sector |
|---|
| Foods Beverages/Soap (50%) - Bear Confirmed |
| Utilities / Gas (62%) - Bear Alert |
| Machinery and Tools (52%) - Bull Correction |
| Real Estate (72%) - Bear Confirmed |
| Textiles / Apparel (50%) - 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 falling sector PT charts this week, with 20 falling and 1 rising. The following sector chart rose: Gaming [^PTGAME]. The following sector charts fell: Aerospace Airline [^PTAERO], Autos and Parts [^PTAUTO], Biomedics/Genetics [^PTBIOM], Chemicals [^PTCHEM], Drugs [^PTDRUG], Electronics [^PTELEC], Food Beverages/Soap [^PTFOOD], Leisure [^PTLEIS], Machinery and Tools [^PTMACH], Oil [^PTOIL], Precious Metals [^PTPREC], Real Estate [^PTREAL]-Rev. , Restaurants [^PTREST], Retailing [^PTRETA], Savings & Loans [^PTSAVI]-Rev. , Semiconductors [^PTSEMI]-Rev. , Software [^PTSOFT], Steel/Iron [^PTSTEE]-Rev. , Telephone [^PTTELE], Textiles/Apparel [^PTTEXT]-Rev. . There were 5 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 only falling sector RSX charts this week, with 11 falling and none rising. The following sector charts fell: Autos and Parts [^RSXAUTO], Electronics [^RSXELEC], Gaming [^RSXGAME]-Rev. , Gas Utilities [^RSXGUTI], Metals Non Ferrous [^RSXMETA], Oil [^RSXOIL], Oil Service [^RSXOILS], Precious Metals [^RSXPREC], Restaurants [^RSXREST], Steel/Iron [^RSXSTEE]-Rev. , Textiles/Apparel [^RSXTEXT]-Rev. . Gas Utilities [^RSXGUTI] was the only sector RSX chart that moved to a sell signal, while none moved to a buy 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 only falling sector RSP charts this week, with 11 falling and none rising. The following sector charts fell: Aerospace Airline [^RSPAERO], Chemicals [^RSPCHEM], Gaming [^RSPGAME], Metals Non Ferrous [^RSPMETA], Oil [^RSPOIL], Oil Service [^RSPOILS], Precious Metals [^RSPPREC], Retailing [^RSPRETA], Semiconductors [^RSPSEMI], Steel/Iron [^RSPSTEE], Textiles/Apparel [^RSPTEXT]. 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 08/18/2021 | Full Report |
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