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Weekly SP-500 Market Trend Commentary

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

*** Status: Market Bullish - Bonds or Sector Positions ***

The general market trading filter I use (SP-500 53 day CCI) is at 104 indicating Market Up. My multiple composite SP-500 indicators on the daily chart are also all "in the green" indicating a bullish stance.  We are still at a significant level of resistance at about 1125 based on the June and January Highs. The coming weeks are important to see if we break through to the upside. Bond funds remain on top in the rankings, with the charts still indicating a money flow into these bond funds.

Rankings: The Rankings still show bond funds ranked on top. As was the case for the last couple of weeks other market sectors have not "proven" themselves yet to displace bond funds. However, you can see sectors such as Telecom, Utilities, Europe, Latin America, etc. on the rise in the rankings. 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.

Actions: On Monday, FYAIX will replace GVPIX in the Schwab portfolio. No other changes will occur in the model portfolios.

Performance (NOT including dividends):

Vanguard Model Portfolio: 0.93%  [SPY: 5.0%]

Schwab Model Portfolio: 0.34%  [SPY: 4.8%]

Disclosure: Positions in SWGSX, SWLBX, SWBDX.

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

Barchart: 32% Buy

Bulkowski: Neutral (shorter term signal CPI=57.1%)

Buy-Don't Hold: Sell Signal

MTR Investors Market Timing Model: Market Up

My Trading System: Up Trend

Stock TA (NYSEARCA:SPY): Bullish

Stock Trends: Weakly Bearish

Winning Investing: Condition Red - Use Caution

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

Click on Charts to Enlarge


SP-500 Daily Chart  August 7, 2010
SP-500 Daily Chart August 7, 2010
SP-500 Daily Guppy Chart  August 7, 2010
SP-500 Daily Guppy Chart August 7, 2010

Disclosure: Long SWGSX, SWLBX, SWBDX at the time of this post