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Weekly SP-500 Trend Commentary

|Includes: SPDR S&P 500 Trust ETF (SPY)
*** Status: Market Bullish – Sector/Index Funds ***
 
The SP-500 had yet another volatile week dropping again down to previous resistance at ~1225 The general market trading filter I use (SP-500 53 day CCI) is at +107 indicating Market Up which is slightly up from +117 last week. My multiple composite SP-500 indicators on the daily chart are both Bullish with the Blau Ergodic Composite Indicator bullish and the MACD composite indicating an up trend. The SP-500 index is down ~8.3% from the recent May high of 1370. The CCI(53) indicator for all the indices on the right of this page are now all bullish except IEF which also indicates a move to stocks.
 
The Guppy Plot for the SP-500 Index is bullish, with the Fast moving averages above the Slow Moving Averages, and the Slow Moving averages in transition. The average slope of the Fast Moving Averages dropped to negative, and my main indicator, the average slope of the Slow Moving Averages remains positive, but has dropped some. The ADX components are bearly bullish, and the Stoch has turned down after turning up earlier in the week.
 
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 have transitioned to have Sector and Index 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 Bullish
AAII Sentiment 45% Bullish / 31% Neutral / 25% Bearish
Investors Intelligence: 44% Bullish / 35% Bearish
Barchart: 56% Buy (last week 48% Buy)
Bulkowski: Buy (CPI= 98% - last week 50%)
Buy-Don't Hold: Buy (3)
Consensus Traders: 44% Bullish / 23% Neutral / 34% Bearish (NYSEARCA:SPY)
MyPlanIQ Trend Score: +2.38% (SPY +1.35% last week) 
10 DMA New High - New Low RatioBullish (see Chris Perruna for explanation)
Pattern TrapperBullish (SPY)
Stock TA (SPY): Bullish
Stock TrendsWeak Bearish
TimelySetupShort 
Wishing WealthDown Trend (GMI-2)
TheWizard: Very Bullish (SP-500 Long Term Signal)
dshort.com: Invested (Note - monthly SP-500 10-EMA signal)
 
Click on Charts to Enlarge
SP-500 Daily Chart for November 12, 2011
SP-500 Daily Guppy Chart for November 12, 2011