Markets Overall Uncategorized

Some Sectors Are Looking Up

September was a tough month for the markets. From what I have read, most prognosticators are looking for a continuation through October, especially this coming Monday.

For the overall 30-day period, the models remain entirely in the bear camp. But Friday night’s numbers are up from the previous week‘s average. This week the average is 3.53; last week, it was 3.21. For the fifth week in a row, there is no sector with an average above 4.5 in the bullish zone.

The sector with the highest score, Biotechnology, almost gets a Bullish score. An average of 4.46 is barely below the neutral mark of 4.5. And for the later part of October and early November, Biotech gets daily scores in the 5’s. Last week’s top sector was Health Care. Health Care fell a bit with an average of 4.36. Health Care also has some bullish daily numbers at the end of the 30-day period.

What caught my eye was the strong green day occurring this coming Tuesday for Precious Metals and Miners. But, I prefer a continuation of similar numbers to make any judgment, and since 6.8 is standing as the sole bullish number for that period, I will ignore it.

The sector with the worst score is Energy, with an average of 2.90. And like last week, Commodities average remains in the 2’s with a score of 2.99.