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Weekly Market Trend Commentary

|Includes:SPDR S&P 500 Trust ETF (SPY), SPY

Status: Market Bearish - Cash, Government Bonds, or Short Positions

The general market trading filter I use (SP-500 53 day CCI) continues to indicate Market Down. My composite SP-500 indicator on the daily chart swiftly changed to negative on Friday with the market sell-off on high volume, so overall the market is bearish. The SP-500 met resistance at the confluence of the 200 day moving average (solid red line), and  50 day moving average (dotted red line) both now at ~1090 (see charts below).

Rankings: The Rankings still show bond and short funds ranked at the top. Ranking scores are color coded to indicate positive ranking scores (rate of change / volatility) in green, and negative ranking scores in red. Overall the list is sorted by overall rank but the score that makes up the rank can be positive or negative depending on the recent rate of change. The full list of the funds that are ranked can be found under the Funds tab. Current Rankings of the Funds can be found under the Rankings tab.

Actions/Disclosure: No actions this week. Currently in cash and some SDS.

What others are saying (all free sites): Overall Bearish
(see www.mybestfunds.com for full listing)


Click on Charts to Enlarge

SP-500 Daily Chart  July 17, 2010
SP-500 Daily Chart July 17, 2010
SP-500 Daily Guppy Chart  July 17, 2010
SP-500 Daily Guppy Chart July 17, 2010
SP-500 Weekly chart  July 17, 2010
SP-500 Weekly chart July 17, 2010


Disclosure: Short position with SDS.
Stocks: SPY, SPY