Bearish Percent Indicators might be a better description for the BPI values this week. It has been some time since we’ve seen this much green. We need to go back to a few of the poorest weeks in 2015 to see a repeat of this weak stock market action.
Index BPI: All major indexes are located in the defensive (O’s) camp. All except for the Dow Jones Industrial Average are below the 50% bullish mark and the DJIA is right at 50%. Considering this is December, these low values come as a surprise. Time is running short for a year-end rally.
Recommendations coming out of the Kipling spreadsheet reflect what is happening to the U.S. and International Equities markets as we see a definite tilt toward utilities, short-term bonds, and U.S. treasury ETFs.
Sector BPI: Energy and Financial stocks continue to get hammered and this week these two sectors are joined by Discretionary, Industrial and Materials as over-sold sectors. Only the Utilities sectors is holding up against this volatile and weakening stock market.
Later today I will post at least one performance data spreadsheet.
Should anyone wish to receive the performance spreadsheet I developed, I’m willing to send it to you. Of course you will need to have the Investment Account Manager software to calculate the data.