After hitting a high back on September 20th of 2018, the U.S. Equities market is beginning to look a tad more normal. Normal in the sense that nearly all indicators are above the over-sold zone and sectors are once more beginning to look like a reciprocating engine that needs a tune up.
Of the major indexes, only one is over-bought. No sectors are hitting the over-bought zone and many are not far off the 50% bullish reading.
Index BPI: All major indexes are positioned with the offense and only the NASDAQ 100 is over-bought with a 72% bullish reading. The two major broad indexes (NYSE and NASDAQ) are within 10 percentage points of the mid-way bullish point, and on the low side. It appears as if U.S. Equities are stabilizing.
Sector BPI: Health and Materials flipped from offense to defense this week. As I began updating this table, I wondered how long it would be until we begin to see the normal shift between sectors show up. Money moved back into Utilities bringing the bullish percent from 53.57% up to 66.66%. Since the Utilities sectors has fewer holdings, that percentage move is tied to a few stocks.