Point and Figure (PnF) or Bullish Percent Indicators point to a lower market. At least that is the general trend this week. As for the major indexes, the DJIA was the single counter to the downward trend as it moved from defense to offense.
Index BPI: The S&P 100 and DJIA moved in opposite directions. Since the S&P 100 includes more stocks, I tend to place more importance on that index. In addition, the NYSE moved lower while the NASDAQ held nearly even for the week. I consider the NYSE and NASDAQ to be the two most important indexes of the seven as they are both broad measurement tools.
Sector BPI: The big negative hit was to Utilities. Perhaps this is due to hurricane, Matthew. Financial and Health moved from offense to defense, more signals of a weakening market.
Telecom continues to be pegged at the 100% bullish level. At some point that high value will return to the mean.
Conclusion: Be patient and selective when adding shares to your portfolio. I am using many TSLOs with current holdings.