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Millionaire Now! by Larry NusbaumThis blog is based on the organizational principles found in my new book, "Millionaire Now! - A Financial Toolbox with Seven Steps to Wealth". |
Weekly Point & Figure Bullish % And Sector Watch
Posted on 12/31/2006 04:21 AM | Link | Post Comment
The NYSE Bullish Percentage is on offense at 72.93 and the OTC Bullish Percentage is on offense at 55.50. (Last week: 73.12% & 55.24%)
Average Level on July 3: 45.90 Average Level on December 28: 62.67
Once again, the NYSE Bullish Percent loses ground, now for the second week in a row. The signs of Supply returning began last week and continue to press further, though at this point we aren't seeing anything "serious" enough to give pause.
If the Sector Bell Curve and intermediate-term indicators show signs of Supply, it will likely be time to commence raising cash.
The following sectors are on Point & Figure buy signals (in order of risk): Electric Utilities, Real Estate (very risky), Insurance, Chemicals, Gas Utilities, Food, (risky) Leisure, Finance, Precious Metals, Auto, Aerospace, Textiles, Restaurants, Machinery, Forest Products, Building, Oil Services, Gaming, Business Products, Banking, Savings, Retail, Medical, Oil, Telephone, Internet, Housing, Biomedical, Electronics, Software, Waste, Health, Computers, Semis, Drugs, Protection (bold = Favored)
Reversed up this week: none
Reversed Down this week: Steel & Iron
Leading Names in leading Sectors:
Precious Metals: BVN, AAUK, EZM, PCU, PMU, ABX, GG, GSS
Retail: ANF, JWN, ZLC, BAMM, KSS, CMPP, ARO, CLE, HAS, SNA
note from me: A point and figure chart (explained) is a disciplined approach to selection and managing risks. It was created by Charles Dow and is based on supply and demand (economics). A reading of 30% is low and a reading of 80% is very high. The higher the percentage the greater the risk. This is important to watch while in the market and/or waiting to put new money to work. These Bullish Percentage indicators relate to risk levels and are not “buy” or “sell” indicators on the NYSE or the OTC. The bullish percentages should indicate to an investor when to be aggressive and when to be defensive. As the reading goes over 70%, sector selection becomes a more critical part of your strategy. These indicators can be found at www.dorseywright.com.
STOCKS BREAKING ABOVE AND BELOW THEIR 50 DAY & 200 DAY M.A.
Average Level on July 3: 45.90 Average Level on December 28: 62.67
Once again, the NYSE Bullish Percent loses ground, now for the second week in a row. The signs of Supply returning began last week and continue to press further, though at this point we aren't seeing anything "serious" enough to give pause.
If the Sector Bell Curve and intermediate-term indicators show signs of Supply, it will likely be time to commence raising cash.
The following sectors are on Point & Figure buy signals (in order of risk): Electric Utilities, Real Estate (very risky), Insurance, Chemicals, Gas Utilities, Food, (risky) Leisure, Finance, Precious Metals, Auto, Aerospace, Textiles, Restaurants, Machinery, Forest Products, Building, Oil Services, Gaming, Business Products, Banking, Savings, Retail, Medical, Oil, Telephone, Internet, Housing, Biomedical, Electronics, Software, Waste, Health, Computers, Semis, Drugs, Protection (bold = Favored)
Reversed up this week: none
Reversed Down this week: Steel & Iron
Leading Names in leading Sectors:
Precious Metals: BVN, AAUK, EZM, PCU, PMU, ABX, GG, GSS
Retail: ANF, JWN, ZLC, BAMM, KSS, CMPP, ARO, CLE, HAS, SNA
note from me: A point and figure chart (explained) is a disciplined approach to selection and managing risks. It was created by Charles Dow and is based on supply and demand (economics). A reading of 30% is low and a reading of 80% is very high. The higher the percentage the greater the risk. This is important to watch while in the market and/or waiting to put new money to work. These Bullish Percentage indicators relate to risk levels and are not “buy” or “sell” indicators on the NYSE or the OTC. The bullish percentages should indicate to an investor when to be aggressive and when to be defensive. As the reading goes over 70%, sector selection becomes a more critical part of your strategy. These indicators can be found at www.dorseywright.com.
STOCKS BREAKING ABOVE AND BELOW THEIR 50 DAY & 200 DAY M.A.
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