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S&P 500 Trend Analysis - 12/23/2010
S&P 500 index long-term uptrend had started on March 6, 2009 at 666.79 and reached 1259.39 on Wednesday December 22, 2010. S&P 500 gained -592.6 points, or almost 90%, in 22 months. The chart has formed a three wave's structure. The third (C) wave is in progress now.
The third (C) wave up has a five wave's structure. It has started on July 1st at 1010.91 and gained almost 25% reaching 1259.39 on Wednesday December 22.
The fifth sub wave is in progress now. It has started on November 16, 2010 at 1173 and gained 86.39 or almost 7.4%. The fifth sub wave has a fifth wave's structure as well.
Daily Relative Strength Index (RSI) and weekly Lane's Stochastic (%D-Slow) are overbought while daily Williams' Percentage Range, Lane's Stochastic, and weekly Williams' Percentage Range are strongly overbought. Daily Moving Average Convergence Divergence (MACD) has bearish divergence.
More than 40% of S&P 500 members have overbought weekly Lane's Stochastic indicator and more than 68% have overbought weekly Williams' Percentage Range indicator.
More than 127 of S&P 500 index members made a new 52-week high, while 19 of them closed this week below the previous week's close. This event is called a "buying climax".
The S&P 500 members' weekly MACD bearish/bullish divergence ratio is 48/4. It means that 12 times more S&P 500 members have weekly MACD bearish divergence than the bullish divergence. The weekly Lane's stochastic bullish/bearish divergence ratio is 89/1.
All the above technical indicators are bearish. S&P 500 index uptrend may reverse soon.
Weekly Stock Market Overview - 12/10/2010
The Financial sector was the strongest sector (3.78%) last week followed by the Technology sector (1.53%). The Utilities sector was the worst performing sector (-0.50%) of the week followed by the Energy sector (0.12%).
The Services sector is the most overvalued sector followed by Technology, while Jewelry Stores, Technical Services, and Auto Parts Stores are among the most overvalued industries. The Healthcare sector is the most oversold sector followed by Industrial Goods, while Drug Manufacturers/Major, Aerospace/Defense-Prd/Svc, and General Contractors are among the most oversold industries.
Weekly S&P 500 Winners
Weekly S&P 500 Losers
Weekly S&P 500 Alerts
Weekly Stock Market Overview - 11/12/2010
The Energy sector was the strongest sector (1.01%) last week followed by the Consumer Discretionary sector (-1.37%). The Financial sector was the worst performing sector (-4.11%) of the week followed by the Industrial sector (-3.05%).
The Basic Materials sector is the most overvalued sector followed by Conglomerates, while Major Integrated Oil/Gas, Agricultural Chemicals, and Copper are among the most overvalued industries. The Healthcare sector is the most oversold sector followed by Services, while Education & Training Services, Food Wholesale, and Publishing - Newspapers are among the most oversold industries.
Weekly S&P 500 Winners
Weekly S&P 500 Losers
Weekly S&P 500 Alerts