Over the past week of market action, there were no sector bullish percent charts that reversed up into Xs, while the bullish percent for Protection Safety Equipment (^BPPROT) was the only sector to reverse down into Os.
SECTOR BULLISH PERCENT CHANGES
| Reversed to X | Reversed to O |
|---|---|
| 0 | 1 (BPPROT | 60), |
| To Xs | To Os |
|---|---|
| Metals Non Ferrous ( 0.97 to 54 ) | None |
Average Level
62.20
| Sector |
|---|
| None |
| Sector |
|---|
| Oil (46%) - Bear Correction |
| Oil Service (42%) - Bull Alert |
| Savings & Loans (48%) - Bull Confirmed |
| Sector |
|---|
| Internet (56%) - Bull Correction |
| Precious Metals (56%) - Bull Correction |
| Protection Safety Eq (60%) - Bear Alert |
| 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 13 rising and none moving lower. The following sector charts rose: Autos and Parts [^PTAUTO], Building [^PTBUIL], Chemicals [^PTCHEM], Food Beverages/Soap [^PTFOOD], Forest Prods/Paper [^PTFORE], Leisure [^PTLEIS], Metals Non Ferrous [^PTMETA], Restaurants [^PTREST], Retailing [^PTRETA], Telephone [^PTTELE], Transports/Non Air [^PTTRAN], Wall Street [^PTWALL]-Rev. , Waste Management [^PTWAST]. There were 1 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 9 falling and 7 rising. The following sector charts rose: Aerospace Airline [^RSXAERO]-Rev. , Gaming [^RSXGAME], Leisure [^RSXLEIS]-Rev. , Machinery and Tools [^RSXMACH]-Rev. , Protection Safety Equipment [^RSXPROT]-Rev. , Restaurants [^RSXREST], Transports/Non Air [^RSXTRAN]-Rev. . The following sector charts fell: Banks [^RSXBANK], Biomedics/Genetics [^RSXBIOM], Drugs [^RSXDRUG], Utilities/Electricity [^RSXEUTI]-Rev. , Healthcare [^RSXHEAL], Internet [^RSXINET], Metals Non Ferrous [^RSXMETA]-Rev. , Precious Metals [^RSXPREC], Software [^RSXSOFT]. There were no sector RSX charts that moved to a buy or sell signal this week. |
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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 equal amounts of rising and falling sector RSP charts this week, with 5 both rising and falling. The following sector charts rose: Autos and Parts [^RSPAUTO], Gaming [^RSPGAME]-Rev. , Metals Non Ferrous [^RSPMETA], Restaurants [^RSPREST]-Rev. , Telephone [^RSPTELE]. The following sector charts fell: Biomedics/Genetics [^RSPBIOM], Utilities/Electricity [^RSPEUTI], Forest Prods/Paper [^RSPFORE]-Rev. , Oil Service [^RSPOILS], Textiles/Apparel [^RSPTEXT]. There were 2 that reversed to X and 1 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 08/12/2020 | Full Report |
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