Craters of the Moon National Park
If you are looking for low Bullish Percent Indicator percentages, take a close look at the following data table. Many percentages dropped below what they were last week, yet they still show up in the offensive camp. Friday’s 10% pop to the upside moved a number of indicators from O’s to X’s.
Not one DJIA stock is bullish. This shows how much fear is in the market.
Index BPI
All but the transportation average dropped below the percentage values of last week. The S&P 100 and 500 are at rock bottom. We could remain at these low levels for several weeks. This is a time to pay close attention to recommendations from the Kipling spreadsheet.
Sector BPI
Every sector is lower than the low values of last week. Overall, this was a crushing week for U.S. Equities. Only three weeks ago many of the sectors were over-bought. How things changed since February 19th.
Each week we begin with a fresh look. However, until the Corvid-19 virus is under control worldwide, we are likely to be in for a volatile ride.
This week will likely turn out to be quite interesting as there is some positive action going on within the major indexes. A few companies are turning bullish.
That could all change during these last two trading days.
Lowell