Latest bell curve avg. 68.12.
Hey wait! We just went above spx 1324. We've been moving higher in the nasd, djia and the BP is just about where it was the last time I presented a number. In fact it's decimal points less. How can that be? Must be a glitch in the numbers. OR PERHAPS we are seeing ROTATION.
Meaning a sector that was previously 68 is now 65 and sector that was 65 is now 68.
Yet as ALL of this is happening I'll present the list.
For those interested jot them down and compare to them to a previous list.
KEEPING in mind what is being seen is JUST the sector and NOT the additional 7 details that go with a sector showing it's 30 week/10 week near term momentums or it's relative strength patterns or those relative strength patterns turning positive or negative.
EX. SEMI's are in the 66.67. BUT the near term momentum has broken down as I presented and is now at 30 and down from the 40 area. As that happens one can EXPECT the 10 week and 30 week to follow. YET it does NOT mean semis's collapsing. Just means selling is going on as should be expected.
Ad before I present the list I'll give this OPINION. BANKS BANKS BANKS should NOT be ignored. WHY? The momentum shows it's near done selling. YET more importantly the Relative strengths have TURNED POSITIVE. That means more and more of those equities will begin showing more and more positive patterns and as that happens more and more relative strength will patterns will occur and the bp will turn up, driven by near term, 10 week, 30 week momentums turning UP. Thus rotation out of the walmart's, cat, etc and into banks and others.
So here goes.
Drugs, Savings and loans, precious metals, 50-52
Biomeds, banks, protection equip, 54-56
Metals, health 58-62
Ok now watch them stack up.
Food, gaming, internet, leisure, business, elect, housing semis, transport, tele 64-66
Auto, finance, steel, textile, Retail, Software, Waste, Build, computers, media 68-69
Aero, Machine, Wall street, Oil Oil Service, Restaurant, Chem, Real Estate, Insurance, E util 74-78
Forrest Gas Util 80-86
IF you stack them you should see where they are positioned and how they are positioned. Meaning that a fast glance shows the heavy weighting affects apprx 30. There are 2 to excess forrest and Gas utilities and 7 that have room to move. Ex Banks could move 20% to get into that 64 range that the majority are sitting.
Give some thought to what that would do to the individual equities within and specifically to those equities with the patterns to may hay of any move up and that helps to decide what sector and what equity.
So hope it helps for those trying to exploit andy selling but also to not allow yourself to be shaken out due to some pullbacks in the indexes. |
