Based on the major indexes and sectors of the U.S. market, we are still in a bullish phase. Technology and the NASDAQ in general are not what we would like to see, but those markets are bound to improve.
Index BPI: The NYSE moved back into the over-bought zone (above 70%) while the S&P 100 turned the ball over to the defense. Otherwise, there were few changes in the major markets. Of the indexes, the NYSE is the most important and the number of bullish stocks increased.
Sector BPI: All sectors with exception of technology are under the control of offensive teams. Technology is simply following the weakness of the NASDAQ market. Energy took a huge jump as it moved into the over-bought zone. Health also improved as it shifted from defense to offense.
We are near the end of the winter season of investing so keep an eye on these tables beginning in May. Not shown in these tables, weakness showed up last April, then again in June, and finally early in September. The September weakness is visible at the top of the tables.