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Weekly SP-500 Trend Commentary

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

*** Status: Market Bullish – Sector Funds ***

The SP-500 basically fell flat this past week near the recent resistance level of ~1345.  The general market trading filter I use (SP-500 53 day CCI) is at 82 indicating Market Up which is down from 113 last week. My multiple composite SP-500 indicators on the daily chart remain bullish, but the Blau Ergodic Composite Indicator is heading lower.

The Guppy Plot for the SP-500 is back is still Bullish, but the Fast and Slow moving averages are dropping a bit. The average slopes of both the fast moving and slow moving averages are positive, but have turned down. The ADX components are close to a Bearish cross and Stoch is back in overbought territory.

We’ll see what the next week brings. We don't try to forecast the market here, rather we just monitor the current conditions and react accordingly. I hope you find this blog helpful. If you do, why not leave a comment.


This week's Rankings show Precious Metals have moved up, and Energy a bit lower. 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.


Long VTI

What others are saying (all free sites): Overall Bullish

Advisory Sentiment: 57% Bullish / 16% Bearish

AAII Sentiment:  44% Bullish / 28% Neutral / 29% Bearish

Barchart: 48% Buy (last week 64% Sell)

Bulkowski: Bearish (CPI=27% last week 97%)

Buy-Don't Hold: Buy (3)

Consensus Traders: 64% Bullish / 14% Neutral / 21% Bearish (for SPY)

MTR Investors Market Timing Model: Market Up

My Trend Timer: Bullish

Stock TA (NYSEARCA:SPY): Neutral

Stock Trends: Bullish

Wishing Wealth: Up Trend Invested (Note - monthly 10-EMA signal)

Click on Charts to Enlarge


SP-500 Daily Chart for April 10, 2011
SP-500 Daily Chart for April 10, 2011
SP-500 Daily Guppy Chart for April 10, 2011
SP-500 Daily Guppy Chart for April 10, 2011