*** Status: Market Bullish – Sector Funds ***
Welcome to this holiday addition of the SP-500 Market Trend Commentary. I hope everyone is having a wonderful holiday! Overall it was an up week for the SP-500 rising +3.74% and closing above the 200 day moving average but does remain at the recent market support/resistance at 1264. The general market trading filter I use (SP-500 53 day CCI) is now at +94 indicating Market Up which is up from -3 last week. My multiple composite SP-500 indicators on the daily chart are now mixed, with the Blau Ergodic Composite Indicator bearish and the MACD composite bullish again. The SP-500 index is down ~8.5% from the recent May high of 1370. The CCI indicators at the right give a good indication of the market - there is still interest in bonds but falling, as well as large and small cap. However, the technology heavy QQQ has not risen above zero with this indicator, which is also reflected in the Nasdaq New High - New Low indicator below.
The Guppy Plot for the SP-500 Index is looking Bullish again after moving through a transition state last week. The Fast Moving Averages are now above the Slow Moving Averages. The average slope of the Fast Moving Averages and the average slope of the Slow Moving Averages, are both now positive again. The ADX components are bullish, and the Stoch is moving up.
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 are showing Bond and Short Funds at the top which indicates a more bearish market. 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.
What Others are Saying (all free sites): Overall Bullish-Neutral
AAII Sentiment: 34% Bullish / 38% Neutral / 28% Bearish
Investors Intelligence: 48% Bullish / 31% Bearish
Barchart: 80% Buy (last week 24% Sell)
Bulkowski: Bullish (CPI= 100% - last week 58%)
Buy-Don't Hold: Hold (previous Sell) - but close to Buy signal (2)
MTR Investors Market Timing Model: Market Up
MyPlanIQ Trend Score: +5.36% (SPY -2.06% last week)
Stock Trends: Weak Bearish
TimelySetup: No comment this week
Wishing Wealth: Market Up (GMI-2 = 3/6)
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 December 25, 2011|
|SP-500 Daily Guppy Chart for December 25, 201|