The stock market has turned bullish

The stock market sank on Monday and Tuesday but then roared up above Monday’s high on Wednesday and Thursday. We can think of this as a four-day bullish turnaround. The market sank on Friday but the volume that day was lower than either of the two previous up days. In addition, Friday’s close was above the low showing demand coming in. On the weekly chart, it is easy to see how the market retreated weakly from its high three weeks ago. The stock market, on a weekly basis, is still in its bullish trend that began in early 2009.

My stock market sector table and graphs show four sectors with big loses while there are six big gainers. But it’s even more lopsided towards the positive because one of the losers, the Energy Sector, is a benefit to the economy when price decreases. The big gainers included the Building, Real Estate and Retail sectors.

Here’s the relative strength chart of the Building sector:building

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