Based on BPI data, this was a weak week for U.S. Equities. Consumer Staples is still in the oversold zone.
In contrast, Energy is highly overbought at 90.9% bullish. Otherwise, nearly all major indexes and sectors declined in bullish percentages.
Special Note: Health is close to oversold as it is only 35% bullish. I may set limit orders to purchase shares of VHT for Carson, Franklin, and McClintock.
Lowell
Lowell, On Oct 4 I'm seeing overbought healthcare at 71.66 using the same BP charts as you are using. Is it a different sector that you are seeing as close to oversold at 35%?
Hi Stellaluna
On Oct 1st the BPI jumped from 40% to 58% and now is at high of 71.67% per stock charts. During this same time period there was news about Big Pharma and US involvement. Probably related to jump in BPI index?
@stellaluna - Yes, Health move up to 71.66% bullish and is now back down to 70% bullish. I did not mention it as I don't think any of the portfolios hold Healthcare. I need to check on that.
Lowell
I just checked and none of the ITA Sector BPI portfolios are holding shares in the Health sector.
Lowell
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