Before updating any of the following tables, I hazard a guess as to whether or not parts of the U.S. Equities market will turn up bullish or bearish. This week I anticipated many of the percentages would look bearish. There are always a few surprises, mainly among sectors as those are more difficult to predict. Look for the surprises below.
It comes as no big surprise that most of the major indexes are bearish. Frankly, I expected the NYSE to turn bearish this week so an X in the right-hand column of the Point and Figure (PnF) graph came as a bit of a shock.
Six of the seven major indexes are currently bearish. This past week was not a good week for equities and we can partially blame it on the political unrest.
Sectors of the market are more of a mixed bag. This is not unusual. Staples had a nice uptick and Financials held firm. Three sectors did move from offense to defense. No big surprise considering how the broad market behaved.
Unless we see changes this coming week, expect the Kipling to continue to recommend bonds, treasuries, gold, and possibly real estate.