Relative Strength Index
– Updated Every Sunday at 7:00 PM U.S. Eastern Time –
04/23/17: Our index of high-relative-price-strength stocks — of stocks that have outperformed most other stocks since the most-recent bull market began on March 9, 2009 — moved in a narrow sideways range for the ninth consecutive week during the week ended April 21, 2017, indicating that a tug-of-war has continued to occur between optimistic and cautious stock market participants.
In light of the recent uncertainty regarding the eventual outcome of the U.S. House of Representatives’ plans to repeal and replace the Patient Protection and Affordable Care Act (“Obamacare”), and the Congress’s decision, or lack thereof, to pass legislation regarding President Trump’s other economic proposals, there’s a good chance that U.S. stock prices, in general, will continue to trade in a narrow sideways range over the next few weeks. That likelihood is supported by the recent readings on our sector performance models.