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 |
The Friday sentiment will be posted later today.
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. Kevin is currently on a blogging break.
If you use the bullish percents as the primary tool for market timing and investment decisions, now is the time to pay attention to them. I'd like to see the NYSE and the SPX above the 200-day before putting very much money back into the market. But with the NASD and INDU still above the 200-day, and the encouraging bottoming action over the past week, it looks like an opportunity is being presented. I think there is still lot's of risk to the economy and stocks, but there is probably some time to be in the market before the impact is felt.
The extreme oversold stocks are tempting because they look like such bargains, but this late in the bull cycle its probably best to stay with the areas that held up during the selling. Also, I'm avoiding most of the financials because they face such headwinds. With rate cuts almost certain in the months ahead I am sticking with gold & silver, but need to see some strength before getting too committed.
