With the popular indexes hitting new highs it comes as no surprise that the BPI percentages took a leap forward this week. All major indexes are under the control of the offensive and as for the sectors, only Energy is lagging.
Index BPI: Bullish trends are the order of the day as all major indexes are controlled by the offensive for the second consecutive week. Five of the seven indexes are still in the neutral zone with only the DJIA and DJTA over valued (70% or higher).
Sector BPI: Financials and Materials moved from defense to offense this week. This leaves only Energy under the control of the defense. Lower energy prices are good for the overall economy, so seeing energy lag is not a bad signal. It is only a negative for holders of energy stocks, but this will change given sufficient time.