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Weekly SP-500 Trend Commentary

|Includes: SPDR S&P 500 Trust ETF (SPY)
*** Status: Market Bearish – Bond Funds ***
 
Can you say volatility? After last week's decline, we've experienced great volatility in the market this week. Certainly not a stable market to invest in at the moment. The general market trading filter I use (SP-500 53 day CCI) is at -170 indicating Market Down which is up from -283 last week. My multiple composite SP-500 indicators on the daily chart are Bearish with the Blau Ergodic Composite Indicator and the MACD composite indicating a down trend. The SP-500 index is down ~16.1% from the recent May high of 1370. The CCI(53) indicator for all the indices on the right of this page are strongly bearish with only the IEF bond fund as bullish.
 
The Guppy Plot for the SP-500 is  Bearish, with the Fast moving averages now under the Slow moving averages. The average slopes of the Slow Moving Averages and Fast Moving Averages remain negative. The ADX components are bearish and the Stoch is down.
 
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 continue to have Bond Funds and Short Funds 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 tabCurrent Rankings of the Funds can be found under the Rankings tab.
 
What Others are Saying (all free sites): Overall Bearish
AAII Sentiment 33% Bullish / 22% Neutral / 45% Bearish
Barchart: 72% Sell (last week 100% Sell)
Bulkowski: Bearish (CPI= 19% - last week 0%)
Buy-Don't Hold: Sell (1)
Consensus Traders: 11% Bullish / 13% Neutral / 76% Bearish (NYSEARCA:SPY)
Derek HernquistStable/Negative
MyPlanIQ Trend Score-4.51% (SPY -5.33% last week) 
10 DMA New High - New Low RatioBearish (see Chris Perruna for explanation)
Pattern TrapperBullish (SPY)
Stock TA (SPY): Neutral
Stock TrendsMildly Bullish
Wishing WealthDown Trend
dshort.com: Invested (Note - monthly 10-EMA signal)
 
 
 
Click on Charts to Enlarge
SP-500 Daily Chart for August 14, 2011

SP-500 Daily Guppy Chart for August 14, 2011