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Bullish P.c Indicators: 21 July 2023 | ITA Wealth Administration Get hold of US

Crystal Springs

Whereas the broad U.S. Equities market (NYSE and NASDAQ) rose barely this week, 4 tech shares reversed the bullish pattern within the NASDAQ 100.  There have been additionally a couple of adjustments in sectors of the market and I’ll get into that in a second.  Total, the equities market continues to be pushed by large-cap shares, though we’re starting to see some energy in smaller corporations.

With inflation coming down and unemployment low, it seems as if we’re going to keep away from a severe recession.  The expression “tender touchdown” is coming into the lexicon.  Will the Federal Reserve proceed to boost rates of interest is a significant query for buyers.

Index BPI

The identical 5 indexes proceed within the overbought zone whereas the NASDAQ 100 dipped sufficiently to show it from bullish to bearish.  The broader indexes proceed to indicate energy.

Bullish Percent Indicators: 21 July 2023 2

Sector BPI

Whereas the broad equities market is powerful, we see a couple of reversals amongst a couple of sectors.  Staples, Industrial, Supplies, Know-how, Communications, and Actual Property all declined within the variety of bullish shares.  Eight of the eleven sectors are overbought.  Well being (VHT) and Utilities (VPU) are two sectors again within the overbought zone.

Readers who’ve been following the Sector BPI mannequin since its inception have already got a Trailing Cease Loss Order set for VHT.  Not so for VPU because the final advice was a Purchase again on June 2nd and once more on June ninth.  Traders holding Utilities (VPU or IDU) are really useful to position a 3% TSLO below this holding.

Bullish Percent Indicators: 21 July 2023 3

Explaining the Speculation of the Sector BPI Mannequin

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