Seeking Alpha

TrendSurfer's  Instablog

TrendSurfer
Send Message
Stock market technical analysis, chart trend analysis, and chart pattern recognition.
My company:
TheGreedyTrader Group
My blog:
Trend Rules
View TrendSurfer's Instablogs on:
  • S&P 500 members - uptrend support alert
    It was a negative week for the S&P 500 (^GSPC). During the week, the ^GSPC dropped -47.99 points, or -4.23%, and closed at 1087.69 on Friday, May 21, 2010. Weekly volume was 34% above average. Read More ...

    A medium-term (Quarterly) downtrend had started on October 11, 2007 at 1576.09 and reached 666.79 on March 6, 2009. ^GSPC lost 909.30 points, or 57.69%, in 73 weeks.
     
     
    S&P 500 - medium-term trend
    Technical Stock Market Timing System


    A Monthly uptrend had started on March 6, 2009 at 666.79 and reached 1219.80 on April 26, 2010. ^GSPC has formed a five wave structure and has gained 553.01 points. It is close to Fibonacci 61.8% retracement of the Quarterly wave (909.30). During the week April 26 ? April 30, more than 30% of S&P 500 stocks had a Buying Climax. A buying climax happens when a stock makes a new 52 week high, but ends with a loss for the week. Important market trend reversals are often accompanied by a sudden rise in the number of buying climaxes. The completed five wave structure, unusually high number of buying climaxes during the April 26 ? April 30 week, and the Fibonacci 61.8% retracement level might suggest that the monthly up wave has been completed and a new monthly down wave is in progress since April 26.

    A downtrend had started on April 26, 2010 at 1219.80 and reached 1055.90 on May 21, 2010. ^GSPC lost 163.90 points, or 13.44%, in 25 days. During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. On Friday, the chart has formed a Bearish Thrusting Candlestick pattern. Usually this pattern occurs in a downtrend, and it shows a rally failure in a down market.

    Daily Williams' Percentage Range is strongly oversold. More than 30% of S&P 500 members have an uptrend support alert. This alert indicates that stock price is near the monthly uptrend support level. An uptrend support alert usually is followed by at least a short term rally. The broken support level might confirm the end of the monthly uptrend and the beginning of a new monthly downtrend.
    Tags: SPY
    May 23 8:26 PM | Link | Comment!
  • Weekly Stock Market Overview - 5/21/2010
    All the major US indices were negative. For the week the Dow Jones Industrial Average dropped -426.77 points or -4.02%. The Standard & Poor's 500 Index dropped -47.99 points or -4.23%, while the Nasdaq Composite dropped -117.81 points or -5.02%. Read More ...
    The Consumer Staples sector was the strongest sector (-2.38%) last week followed by the Materials sector (-3.86%). The Industrial sector was the worst performing sector (-5.67%) of the week followed by the Energy sector (-5.64%).
    The Utilities sector is the most overvalued sector followed by Healthcare, while Drugs - Generic, Water Utilities, and Specialized Health Svcs are among the most overvalued industries. The Services sector is the most oversold sector followed by Basic Materials, while Agricultural Chemicals, Publishing - Books, and Aluminum are among the most oversold industries.
    Weekly S&P 500 Winners
    Gains/Loses(%)SymbolCompanySector
    20.94%PTVPactiv Corp.Materials
    8.46%DFDean FoodsConsumer Staples
    5.15%APOLApollo GroupConsumer Discretionary
    Weekly S&P 500 Loosers
    Gains/Loses(%)SymbolCompanySector
    -18.21%SHLDSears Holdings CorporationConsumer Discretionary
    -15.84%MEEMassey Energy Co.Materials
    -13.18%GTGoodyear Tire & RubberConsumer Discretionary
    Weekly S&P 500 Alerts
    Stock Market AlertsCount
    Downtrend Exhaustion7
    Downtrend Broken Resistance 3
    Uptrend Support168
    Uptrend Exhaustion0
    Uptrend Broken Support1
    Downtrend Resistance0
    Oversold49
    May 21 9:58 PM | Link | Comment!
  • Weekly Stock Market Overview - 4/30/2010
    All the major US indices were negative. For the week the Dow Jones Industrial Average dropped -195.67 points or -1.75%. The Standard & Poor's 500 Index dropped -30.60 points or -2.51%, while the Nasdaq Composite dropped -68.96 points or -2.73%. Read More ...
    The Utilities sector was the strongest sector (-0.56%) last week followed by the Consumer Staples sector (-1.43%). The Financial sector was the worst performing sector (-3.70%) of the week followed by the Energy sector (-3.51%).
    The Basic Materials sector is the most overvalued sector followed by Consumer Goods, while Home Furnishings/Fixtures, Trucks & Other Vehicles, and Housewares & Accessories are among the most overvalued industries. The Industrial Goods sector is the most oversold sector followed by Services, while Publishing - Books, Personal Services, and Education & Training Services are among the most oversold industries.
    Weekly S&P 500 Winners
    Gains/Loses(%)SymbolCompanySector
    8.47%TLABTellabs, Inc.Information Technology
    6.51%WHRWhirlpool Corp.Consumer Discretionary
    5.62%ORLYO'Reilly Automotive Inc.Consumer Discretionary
    Weekly S&P 500 Loosers
    Gains/Loses(%)SymbolCompanySector
    -24.00%HARHarman Int'lConsumer Discretionary
    -23.37%EKEastman KodakConsumer Discretionary
    -18.82%ODPOffice DepotConsumer Discretionary
    Weekly S&P 500 Alerts
    Stock Market AlertsCount
    Downtrend Exhaustion1
    Downtrend Broken Resistance 12
    Uptrend Support18
    Uptrend Exhaustion12
    Uptrend Broken Support13
    Downtrend Resistance5
    Oversold6
    Apr 30 9:52 PM | Link | Comment!
Full index of posts »
Latest Followers
Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.