Weekly SP-500 Trend Commentary
mybestfunds's Blog
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*** Status: Market Cautiously Bullish – "Safe" Sector & Bond Funds ***
Click on Charts to Enlarge
This was a week for correction in the markets. The general market trading filter I use (SP-500 53 day CCI) is still positive at 94 indicating Market Up which is down from 190 last week. The index retreated but has settled at the previous support/resistance level of ~1345. We'll have to see if this holds over the next week. My multiple composite SP-500 indicators on the daily chart are still bullish with the Blau Ergodic Composite Indicator bullish, and the MACD composite bullish. It is interesting to note that all the indexes, as well as the bond fund remain bullish as indicated by the CCI(53) values as the right of this page.
The Guppy Plot
for the SP-500 is Bullish, with the Fast moving averages above the slower moving averages. The average slopes of both the fast moving is now negative, but may only be indicative of the pull back before heading higher. The ADX components are barely bullish and the Stoch is moving down. Overall, caution is indicated.
for the SP-500 is Bullish, with the Fast moving averages above the slower moving averages. The average slopes of both the fast moving is now negative, but may only be indicative of the pull back before heading higher. The ADX components are barely bullish and the Stoch is moving down. Overall, caution is indicated.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.
Rankings:
This week's Rankings still show a lot of “safe” sectors at the top such as Healthcare, and Telecomm and Bond funds. 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.
Disclosure:
None
What Others are Saying (all free sites): Overall Bullish
AAII Sentiment: 36% Bullish / 33% Neutral / 32% Bearish
MTR Investors Market Timing Model: Market Up
MyPlanIQ Trend Score: 7.05% (SPY 8.16% last week)
My Trend Timer: Bullish
MyPlanIQ Trend Score: 7.05% (SPY 8.16% last week)
My Trend Timer: Bullish
Pattern Trapper: Bearish (SPY)
Stock TA (SPY): Neutral
Stock Trends: Bullish
Wishing Wealth: Up Trend
TopStock Portfolios: Neutral
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| SP-500 Daily Chart for May 7, 2011 |
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| SP-500 Daily Guppy Chart for May 7, 2011 |
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