Bullish Percent Indicators experienced few changes this week as it was a rather quiet period for U.S. Equities. Several Sector BPI Plus portfolios are up for review this week so I’ll be alert to any changes that might occur within the Sector BPI portion of the BPI spreadsheet.
No indexes are either oversold or overbought. Most indexes lie close to the 50% level or what I think of as a fair valued stock market. The NASDAQ 100 and Dow Jones Industrial Average (DJIA) dropped from bullish to bearish. That is likely the result of one or two tech stocks moving into bearish territory.
The following data table is the one we use for guiding our Sector BPI Plus portfolio decision making. If you are holding Staples (VDC or IYK) or Utilities (VPU or IDU) in any of your portfolios, place a 3% TSLO under the holding. None of the ITA portfolios hold Staples, but all hold Utilities (VPU). TSLOs were set at least one week ago when the sector moved into the overbought zone.
VHT holdings also are under a 3% TSLO setting. One sector to watch this week is Financial (VFH) as a Buy order was placed several weeks ago and this sector is approaching the overbought zone. When it looks like one or more sectors move to 30% bullish or below or 70% bullish or above, I update the BPI spreadsheet and send out a notification. This is generally done in the context of a Sector BPI portfolio update.
New members would do well to educate themselves when it comes to the Sector BPI Plus model. This week I’ll be reporting on several portfolios that are managed using this model. To see which portfolio are coming up for review, check the middle footer below.
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