First Coverage's weekly market sentiment report is still pointing to a bullish market (First Coverage). This week has seven sectors rated bullish, with three, including basic materials, consumer goods, and energy (oil and gas) rated neutral.
The weekly sentiment change has basic materials moving more bearish from last week with a 10.9% decline in sentiment (although still neutral), while health care has become more bullish. The financial sector has also failed to roll over, indicating that the sell-side has still not yet gone bearish, even with the big run-up in this sector over the last six months.
Stocks generating the greatest bullish sentiment shifts include Thoratec (NASDAQ:THOR), ConAgra Foods (NYSE:CAG), Potash (NYSE:POT), Dell (NASDAQ:DELL), and Netflix (NASDAQ:NFLX). Those stocks generating the greatest bearish sentiment shift include Vulcan Materials (NYSE:VMC), Bio Ref Labs (NASDAQ:BRLI), Iteration Energy (OTC:ITXFF), Bill Barrett (NYSE:BBG), and PNC Financial Services (NYSE:PNC).