Well, if it hasn’t already, the DJIA is just about to go below the Trump-era high mark. So any recovery we’ve seen with the Biden administration is completely lost.
The models look out 30 trading days, so they are now predicting strength numbers through the beginning of November. Let’s take a look. For the overall 30-day period, the models remain entirely in the bear camp. Friday night’s numbers fell again from the previous week’s average. This week the average is 3.21; last week, it was 3.39. For the fourth week in a row, no sector with an average above 4.5 in the bullish zone.
The sector with the highest score, Health Care, is not close to getting a bullish call with a score of 4.03.
The sector with the worst score is Technology, with an average of 2.16. And the Bond sector continues to get awful scores; this week, Bonds average fell to 2.41. Another sector in the two’s is Commodities with a score of 2.74.