Sculpture on The Sacred Way in China
Based on the Bullish Percent Indicators, this was a good week for U.S. Equities. We have yet to see this confirmed by the LRPC data, but it is time to look carefully at including ETFs such as VTI, SCHB, and SPTM in the portfolios.
Index BPI: All indexes moved up this week with exception of the Dow Jones Transportation Average (DJTA). None of the averages are in over-bought territory. Watch these broad indicators as we move into the time of year when the market historically goes on holiday with the rest of the country.
Sector BPI: In addition to looking at the X’s and O’s on the right side of the following table, check out the percentage changes. Note the large move by materials.
We picked up one sector, Discretionary, for the offense and lost none to defense. This aligns with the broader market indexes above.
