Market Overview - 11/23/2007

All the major US indices were negative. For the week the Dow Jones Industrial Average dropped 195.91 points, or 1.49%. The Standard Poor's 500 Index lost 18.04 points, or 1.24%, while the Nasdaq Composite failed 40.64 points, or 1.54%. The Energy was the strongest sector last week followed by the Utilities. They were the only two sectors posted weekly gains. Financial sector was the weakest sector losing more then 4% for the week and followed by Technology sector. Utilities is still remaining the most overvalued sector followed by Basic Materials while Specialized Health Svcs, Tobacco Products Other, and Drug Delivery are the most overvalued industries. Conglomerates and Financial are the most oversold sectors while Home Improvement Stores, Industrial Equip Wholesale, and Regional-Pacific Banks are among the most oversold industries. Both Dow Jones Industrial Average and The Standard Poor's 500 indices have an uptrend support alert and a strongly oversold daily William’s Percentage Range (W%R) indicator.

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