We are back to the December 21, 2018 results. Only the Dow Jones Industrial Average (DJIA) and Utilities sector are positioned with the offense. Otherwise, it is a clean sweep for the defense.
As a reminder, the following data is not used to manage portfolios. Instead, it provides a broad look as to how the U.S. Equities market is performing.
Index BPI: The three major indexes that were over-bought are now below that 70% or higher zone. Only the DJIA held steady this week as there was no change among the 30 stocks that make up the Dow.
As I mentioned in a blog yesterday, bonds and treasuries are once more picking off the top recommendations from the Kipling spreadsheet. How did your portfolio hold up this week?
I like to look at the percentage change for the S&P 100 and NASDAQ 100 as we can easily calculate the net number of stocks that moved up or down.
Sector BPI: Like the major indexes above, all sectors with exception of Utilities moved down. Nevertheless, we still have four sectors positioned in the over-bought zone. Another week like this past week and only Utilities will be over-bought.
Portfolios that were not seduced into jumping back into equities likely performed quite well this week. More on performance later.