California Farm
Bullish Percent Indicators are mixed this week which is not all that unusual. One sector is approaching the oversold zone and will require close watching this coming week. Both the DJIA and DJTA are bullish indicating this is still a large-cap driven U.S. Market. Small and Mid-Cap stocks are still not participating as one would like as the NYSE and NASDA dropped slightly in the percentage of bullish stocks.
Index BPI
Always keep in mind that the following indexes are for the U.S. Equities market, not international stocks.
Of minor concern is the decline in the NYSE and NASDAQ. While several indexes hit new highs this week, we still have nearly 50% bearish stocks in the large indexes.
Sector BPI
Two sectors merit close watching with Utilities (VPU) close to a Buy. Energy (VDE) is the other sector that could drop into the oversold zone this week. As for Utilities, I’ve set several buy orders for VPU below the current price such that they will likely be triggered should the Utilities sector drop much further. Otherwise, no action is needed until we see further downward movement in those two sectors that are approaching the oversold zone.
Financial, Industrial, and Technology are all overbought. I think most of those sector ETFs were sold over the past few weeks. If you find you are still holding VFH, VIS, or VGT, make sure 3% TSLOs are in place for those three sectors.
Comments and Questions are always welcome. Post them in the Comment section provided below.
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The Utilities sector is oversold so now is the time to pick up shares of VPU.
Lowell
This morning (2/14/2024) I updated the BPI sectors and only Utilities remains in the oversold zone. Limit orders are in place to purchase shares of VPU for all the Sector BPI portfolios. Many order already hit the limit order prices.
Lowell