The past week of market action saw three sector bullish percent charts reverse up into Xs, while five reversed down into Os.
SECTOR BULLISH PERCENT CHANGES
| Reversed to X | Reversed to O |
|---|---|
| 3 (BPBIOM | 58), (BPHEAL | 50), (BPSOFT | 70), |
5 (BPGAME | 70), (BPOIL | 52), (BPOILS | 50), (BPREAL | 72), (BPTRAN | 58), |
| To Xs | To Os |
|---|
Average Level
59.45
| Sector |
|---|
| None |
| Sector |
|---|
| Healthcare (50%) - Bull Confirmed |
| Sector |
|---|
| Aerospace Airline (66%) - Bear Alert |
| Autos & Parts (66%) - Bear Alert |
| Banks (60%) - Bear Alert |
| Business Products (64%) - Bear Alert |
| Chemicals (62%) - Bear Alert |
| Computers (54%) - Bull Correction |
| Electronics (60%) - Bear Alert |
| Utilities / Electric (54%) - Bull Correction |
| Foods Beverages/Soap (52%) - Bull Correction |
| Gaming (70%) - Bull Confirmed |
| Household Goods (72%) - Bull Confirmed |
| Insurance (60%) - Bear Alert |
| Leisure (54%) - Bear Alert |
| Machinery and Tools (62%) - Bear Alert |
| Oil (52%) - Bull Correction |
| Oil Service (50%) - Bull Correction |
| Protection Safety Eq (60%) - Bear Alert |
| Real Estate (72%) - Bull Confirmed |
| Restaurants (52%) - Bear Alert |
| Retailing (56%) - Bull Correction |
| Semiconductors (72%) - Bull Confirmed |
| Steel/Iron (56%) - Bull Correction |
| Textiles / Apparel (56%) - Bear Alert |
| Transports / Non Air (58%) - Bull Correction |
| Wall Street (70%) - Bull 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 6 rising and none moving lower. The following sector charts rose: Biomedics/Genetics [^PTBIOM], Internet [^PTINET], Media [^PTMEDI], Retailing [^PTRETA], Savings & Loans [^PTSAVI], Software [^PTSOFT]. No charts reversed in column. |
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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 RSX charts rising this week, with 14 rising and 11 moving lower. The following sector charts rose: Banks [^RSXBANK], Biomedics/Genetics [^RSXBIOM], Building [^RSXBUIL], Computers [^RSXCOMP]-Rev. , Drugs [^RSXDRUG]-Rev. , Electronics [^RSXELEC]-Rev. , Healthcare [^RSXHEAL]-Rev. , Internet [^RSXINET]-Rev. , Insurance [^RSXINSU], Precious Metals [^RSXPREC]-Rev. , Protection Safety Equipment [^RSXPROT], Steel/Iron [^RSXSTEE], Wall Street [^RSXWALL], Waste Management [^RSXWAST]. The following sector charts fell: Aerospace Airline [^RSXAERO], Forest Prods/Paper [^RSXFORE], Leisure [^RSXLEIS], Metals Non Ferrous [^RSXMETA]-Rev. , Oil [^RSXOIL], Oil Service [^RSXOILS], Real Estate [^RSXREAL]-Rev. , Restaurants [^RSXREST], Retailing [^RSXRETA], Semiconductors [^RSXSEMI], Textiles/Apparel [^RSXTEXT]. |
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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 only rising sector RSP charts this week, with 12 rising and none moving lower. The following sector charts rose: Autos and Parts [^RSPAUTO], Building [^RSPBUIL], Finance [^RSPFINA], Gas Utilities [^RSPGUTI], Internet [^RSPINET], Machinery and Tools [^RSPMACH], Media [^RSPMEDI], Precious Metals [^RSPPREC], Protection Safety Equipment [^RSPPROT], Real Estate [^RSPREAL], Telephone [^RSPTELE], Waste Management [^RSPWAST]-Rev. . 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 06/17/2020 | Full Report |
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