Saturday Bullish Percents
Disclaimer: All charts and comments are intended for education and discussion purposes only. No investment recommendations are being offered. Please do your own research and take responsibility for all investment decisions that you make. Questions and comments related to this post are encouraged. | MON - Sector Strength | TUE - Interest Rates | WED - Market Breadth | THU - Commodities & Currencies | FRI - Market Sentiment | SAT - Bullish Percents | About | contact: HeadlineCharts@gmail.com |
Last week's bullish percents are above and this week's are below. Some comments are below. Good luck to Declan and his family as they move back to Ireland over the next few weeks.
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. Recommended blogs are Declan Fallon, VIXandMore, Kevin's Blog, dk-report.
TECH, SEMI and TELE are the stars. They didn't even budge during one of the worst down weeks since the bull began late 2002. Several weeks back I suggested the recent fascination with technology might be just late cycle rotation. This week technology really proved to have more than temporary strength. Large caps also showed their relative strength and were hurt the least as NDX and INDU remain above the 70% level, and OEX in the 60% level. On the weak side were the financials of course as REIT, BANK, S&L, FINA were in free-fall and now in the deep oversold levels. Savy investors will be looking at these areas to see when they turn up. The turn higher may take a while, but it will happen and this is one of the primary values of the bullish percents... to help time when the downtrend has bottomed out and a low-risk longer-term investment is available. BROK, DISC and RETL are also weak and may need additional time to bottom out. GOLD let me down by turning lower, and signaled again for caution in this area.
