The Point and Figure (PnF) graphs underscore a lackluster market with little direction. This goes for both the major indexes as well at market sectors:
BPI Indexes: The two major indexes, NYSE and NASDAQ, show slight increases in the percentage of bullish stocks, but the gains in the NYSE were insufficient to move it from defense to offense. In summary it was a quiet week for U.S. Equities.
BPI Sectors: There was a little movement in the sectors. Some decreased in the percentage of PnF stocks while other increased slightly. Overall, the sectors mirrored the major indexes in that there were no significant changes. Don’t be surprised if this is what we see for most of the summer months.
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