Over the past week of market action, there were 10 sector bullish percent charts that reversed up into a column of Xs while 9 reversed down into a column of Os.
SECTOR BULLISH PERCENT CHANGES
| Reversed to X | Reversed to O |
|---|---|
| 10 (BPAERO | 32), (BPBUIL | 48), (BPFORE | 36), (BPHEAL | 48), (BPINSU | 30), (BPLEIS | 56), (BPMACH | 42), (BPREST | 42), (BPTEXT | 38), (BPWAST | 34), |
9 (BPCOMP | 38), (BPELEC | 42), (BPFINA | 36), (BPINET | 54), (BPMETA | 42), (BPOIL | 34), (BPOILS | 36), (BPPROT | 36), (BPSOFT | 58), |
| To Xs | To Os |
|---|---|
| Electronics ( 0.78 to 48 ) | None |
| Utilities / Gas ( 0.47 to 40 ) | None |
| Transports / Non Air ( 0.69 to 44 ) | None |
Average Level
44.17
| Sector |
|---|
| Savings & Loans (20%) - Bear Confirmed |
| Sector |
|---|
| Aerospace Airline (32%) - Bull Alert |
| Building (48%) - Bull Confirmed |
| Chemicals (46%) - Bear Correction |
| Drugs (50%) - Bull Alert |
| Forest Prods/Paper (36%) - Bull Alert |
| Healthcare (48%) - Bull Confirmed |
| Insurance (30%) - Bull Alert |
| Machinery and Tools (42%) - Bear Correction |
| Media (44%) - Bull Confirmed |
| Restaurants (42%) - Bear Correction |
| Retailing (46%) - Bull Confirmed |
| Steel/Iron (32%) - Bull Alert |
| Textiles / Apparel (38%) - Bull Alert |
| Waste Management (34%) - Bull Alert |
| Sector |
|---|
| Internet (54%) - Bull Correction |
| Semiconductors (58%) - Bear Alert |
| Software (58%) - Bull Correction |
| Wall Street (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 9 falling and 7 rising. The following sector charts rose: Building [^PTBUIL], Finance [^PTFINA], Gaming [^PTGAME], Leisure [^PTLEIS], Media [^PTMEDI], Precious Metals [^PTPREC], Textiles/Apparel [^PTTEXT]. The following sector charts fell: Banks [^PTBANK]-Rev. , Forest Prods/Paper [^PTFORE]-Rev. , Insurance [^PTINSU]-Rev. , Machinery and Tools [^PTMACH]-Rev. , Protection Safety Equipment [^PTPROT]-Rev. , Savings & Loans [^PTSAVI]-Rev. , Steel/Iron [^PTSTEE]-Rev. , Transports/Non Air [^PTTRAN]-Rev. , Waste Management [^PTWAST]-Rev. . There were 9 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 22 falling and 3 rising. The following sector charts rose: Biomedics/Genetics [^RSXBIOM], Precious Metals [^RSXPREC], Waste Management [^RSXWAST]-Rev. . The following sector charts fell: Aerospace Airline [^RSXAERO], Autos and Parts [^RSXAUTO]-Rev. , Business Products [^RSXBUSI], Computers [^RSXCOMP]-Rev. , Utilities/Electricity [^RSXEUTI], Forest Prods/Paper [^RSXFORE]-Rev. , Gaming [^RSXGAME], Gas Utilities [^RSXGUTI], Healthcare [^RSXHEAL]-Rev. , Insurance [^RSXINSU], Leisure [^RSXLEIS], Machinery and Tools [^RSXMACH], Metals Non Ferrous [^RSXMETA]-Rev. , Oil [^RSXOIL]-Rev. , Oil Service [^RSXOILS], Protection Safety Equipment [^RSXPROT], Real Estate [^RSXREAL], Restaurants [^RSXREST], Retailing [^RSXRETA], Telephone [^RSXTELE], Textiles/Apparel [^RSXTEXT]-Rev. , Transports/Non Air [^RSXTRAN]. Transports/Non Air [^RSXTRAN] 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 mostly RSP charts rising this week, with 18 rising and 2 moving lower. The following sector charts rose: Biomedics/Genetics [^RSPBIOM], Building [^RSPBUIL], Chemicals [^RSPCHEM], Computers [^RSPCOMP], Drugs [^RSPDRUG], Electronics [^RSPELEC], Utilities/Electricity [^RSPEUTI], Finance [^RSPFINA]-Rev. , Gaming [^RSPGAME], Healthcare [^RSPHEAL], Internet [^RSPINET], Leisure [^RSPLEIS], Metals Non Ferrous [^RSPMETA], Oil [^RSPOIL], Oil Service [^RSPOILS], Precious Metals [^RSPPREC], Software [^RSPSOFT], Telephone [^RSPTELE]. The following sector charts fell: Banks [^RSPBANK], Savings & Loans [^RSPSAVI]. There were 1 that reversed to X. |
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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 05/13/2020 | Full Report |
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