With the advent or launching of the Carson portfolio, the following Bullish Percent data takes on added significance as I am using the sector BPI data to make buy and sell decisions. Follow along and watch how the Carson integrates with the sector data found in the second screenshot below.
Four of the seven major indexes are currently over-bought. The fact that the NYSE and NASDAQ are only mildly bullish indicates that mid- and small-cap stocks as well as technology companies have yet to participate in the current upturn. When smaller stocks are not participating we are not in a bull market. Therefore, don’t let the good news of the last few weeks fool you. Be patient.
None of the eleven sectors are positioned in the over-sold zone. Therefore we have no Buy signals. I just checked and the Carson does not hold any ETFs representing over-bought sectors. Therefore, we will not be making any changes in the Carson. We will not place Buy orders or set TSLOs. As mentioned when the Carson was first launched, we expect sector ETFs currently held in a portfolio such as the Carson will spend most of their time between the 30% and 70% bullish lines. That is the situation this week.