Interested in technical analysis using Point and Figure charting, Bullish Percentage Index, on major markets, indices and sectors. Write and test new systems using several long/short strategies using ETFs and mutual funds.
Investing: Market Watch Bullish Percent Index For Oct 5, 2012 0 comments
Oct 8, 2012 12:09 AM
Market Watch Bullish Percent Index for Oct 5, 2012
Last week the market took a breather. On Monday, the market gaped up higher in morning but continued to go down as the day progressed. During the midweek, the market tried to come back and it did succeed on Thursday and Friday to touch the high of the Monday. But at the closing on the Friday, the market couldn't hold onto the gains and closed about unchanged/lower depending upon which indices you follow. The BPI (Bullish Percentage Index) for all the major indices are very close to their local highs set within last 2-4 weeks. The large cap S&P 500 Index is strongest but the midcap S&P 400 and smallcap S&P 600 are showing some weaknesses as these have rolled on the downside slightly.
In S&P 500 select sector ETFs, the technology sector XLK and industrial sector XLI show some weakness as both have turned down from low 70s value are now in low 60s.
In S&P sector funds, XES (SPDR S and P Oil and Gas Equipt and Servs) sector is showing weakness along with XES (S&P Semiconductor) and XTN (S&P Transportation).
Market Watch and S&P Sectors Bullish Percent Index for 20121005
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Investing: Market Watch Bullish Percent Index For Oct 5, 2012 0 comments
Market Watch Bullish Percent Index for Oct 5, 2012
Last week the market took a breather. On Monday, the market gaped up higher in morning but continued to go down as the day progressed. During the midweek, the market tried to come back and it did succeed on Thursday and Friday to touch the high of the Monday. But at the closing on the Friday, the market couldn't hold onto the gains and closed about unchanged/lower depending upon which indices you follow. The BPI (Bullish Percentage Index) for all the major indices are very close to their local highs set within last 2-4 weeks. The large cap S&P 500 Index is strongest but the midcap S&P 400 and smallcap S&P 600 are showing some weaknesses as these have rolled on the downside slightly.
In S&P 500 select sector ETFs, the technology sector XLK and industrial sector XLI show some weakness as both have turned down from low 70s value are now in low 60s.
In S&P sector funds, XES (SPDR S and P Oil and Gas Equipt and Servs) sector is showing weakness along with XES (S&P Semiconductor) and XTN (S&P Transportation).
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