The BPIs are a measure of risk, not performance. If a BPI is bullish, it just means it's a good sector/index to get into from a risk standpoint. But you have to look at individual charts and traditional TA to decide whether or not the risk/reward is worth it.
Status ratings can and do change, so it's simply a point in time.
But I don't remember seeing so many of them on Bull Confirmed or Bull Alert before. Telecom is one of the latest sectors to turn positive. It turned "Bull Alert" on April 1st. It had been "Bear Confirmed" since Dec 31st.
I hope I'm not jinxing anything by posting such bullish data. It's a bit scary seeing something so lopsided.
If they all turn bearish overnight, I'll know never to post this again.
NYSE - Bull Confirmed on 3 Apr 2008 <--- this is supposedly the main indicator of market risk
Energy - Bull Confirmed on 27 Mar 2008
Transportation - Bull Confirmed on 20 Mar 2008
Consumer Staples - Bull Confirmed on 2 Apr 2008
Consumer Discretionary - Bull Confirmed on 20 Mar 2008
Financial - Bull Confirmed on 3 Apr 2008
Materials - Bull Confirmed on 17 Mar 2008
Telecom - Bull Alert on 1 Apr 2008
Utilities - Bull Alert on 1 Apr 2008
Industrials - Bull Confirmed on 2 Apr 2008
Tech - Bull Alert on 1 Feb 2008
Healthcare - Bull Alert on 25 Mar 2008
S&P 500 - Bull Confirmed on 2 Apr 2008
DJIA - Bull Confirmed on 19 Mar 2008
Nasdaq Composite - Bull Confirmed on 28 Mar 2008
Nasdaq - Bull Confirmed on 25 Mar 2008
OEX - Bull Confirmed on 25 Mar 2008
And again, like I said, BPI doesn't measure performance, only risk.. So don't go round saying "But...but...but...I went short and made a bundle! this must be wrong."
Edited by marco, 03 April 2008 - 10:44 PM.
