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 |
When money flows into the 10Y, while new lows are increasing, you have to get cautious on the market. The NAS new lows are too high to support an uptrend and are likely signalling a pullback. The NYSE new lows are much healthier so the signals are still mixed.
It has been so much fun tracking these advisors. I signed up for Band's trial subscription, and then he sent me a note saying I wasn't a subscriber so I couldn't use the site. I think he got confused. His bull market call on Mar-27 is looking good so far. He likes to buy high quality stocks when risk is low like when markets hit significant lows during recessions. About this he says, "history whispers in our ear", meaning in the past recessions lows were the time to buy, not after the recessions were over.
I was shaken out of my intermediate term holdings and into 10% cash on Monday. The new lows and high oil prices did the trick. I think the market cares about oil prices when there is a short-term profit to protect, and ignores oil when there is a lot of cash in accounts.
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.
I was expecting to see lot's of yellow, instead I see lot's of green. Ken Tower suggested a number of times the pullback in the commodity-inflation groups were a buying opportunity, and it turns out he was right, at least short-term. The CRB bullish percent turned up as well so the broad commodity trend is with the stocks. I like watching the IBD bullish percent after adding it to the list last fall. I like the market better when it holds near its highs when the broad market is churning.
Below are the industry components.
