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Markets Overall

The Energy Sector Has The Strongest Numbers

Looking at the overall 30-day period, the models have gotten more bearish. This week the average is 3.70; last week, it was 4.11. This week only two sectors have bullish averages for the 30 days.

The sector with the highest score is Energy, with an average of 5.27, up from last week’s number of 4.68. Falling to second is Biotechnology, with a 30-day score of 4.81.

The bottom three sectors are Technology at 3.14, Emerging Markets at 2.70, and Bonds at 2.60.

Categories
Markets Overall

The Models Expect One More Bullish Week For The Stock Market.

Let’s look at last night’s sector strength chart; the overall average has improved to 4.12 from the previous week’s 3.98 If you watched last week’s video, you know the models called for the markets to be up this past week, and this coming week. Well, so far, so good.

The Emerging Markets sector has the worst overall average, scoring 3.58. The Precious Metals & Miners sector has an underperforming prospect. The computed strength is 3.76. The models are looking for positive pop next week, followed by a continuous downtrend through August and the first week of September.

The Energy sector has the best overall score of 5.14 and a good short-term prospect, which should occur in 8 to 11 days scoring 6.29. The Biotechnology chart is still the only chart showing an uptrend. The problem with the trend is that it remains in the bearish zone for most of the 30 days. It does get bullish the first week of September.

So, like the past three weeks, the models expect a downside to the markets through August.