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All charts and comments intended for education and discussion purposes only. No investment recommendations are being offered. Comments below related to this post are encouraged. | MON - Sector Strength | TUE - Interest Rates | WED - Market Sentiment | THU - Commodities & Currencies | FRI - Market Breadth | SAT - Bullish Percents | About |

Last week's bullish percents are above, and this week's are below.

Red is a column of O's in a downtrend, blue is a column of X's in an uptrend.  Below 30% is oversold, and above 70% is overbought.  Yellow is a shift down, green is up. | INDEX |

A little weakness is showing in the Dow Industrials bullish percent with a shift from the way overbought level above 90% to the 80% level.  Of course, there are only 30 stocks in this index.  A chart of the Dow follows.  The chart looks to be sagging but still positive and volume remains decent.  But the index is underperforming the broader market and is probably at least entering a period of consolidation after such a long run to higher highs.

The bullish percent of the technology sector moved higher, finally, probably due to the initial break out of the SOX late in the week.  A chart of the Tech SPDR follows, and it looks a lot like, you guessed it, the NASDAQ which is heavily weighted with technology companies.  This sector has room to move higher as investors look for the few remaining areas to put their money in an overbought, high risk, but relentless market.

In the category of industries, the bullish percents gold miners and industrial metal producers moved higher as the gold bullish percent finally shifted back to a column of X's to follow the yellow metal higher.  A chart of the GLD miners ETF follows showing a very nice break above the July high supported by decent volume.  The volume could be better but is confirming the highs.  This ETF is also showing signs of starting to outperform the broader equity index, and is breaking out of a nicely developed 9-month high consolidation base.

Final note, the weekend blogs I like to check out are Declan Fallond's weekly review of Stockchart's public list, and TraderMike's links to interesting market related stuff.