The Stock Market Week - 5/8/2009 |
It was an up week for the major markets. For the week the Dow Jones Industrial Average gained 362.24 points, or 4.41%. The Standard & Poor's 500 Index gained 51.71 points or 5.89%, while the NASDAQ Composite gained 19.80 points or 1.15%.
The Financial sector was the strongest sector (22.25%) last week followed by the Energy sector (9.69%). The Technology sector was the worst performing sector (-2.23%) of the week followed by the Utilities sector (2.71%).
The Basic Materials sector is the most overvalued sector followed by Services, while Publishing - Periodicals, Publishing - Books, Lodging are among the most overvalued industries. The Technology sector is the most oversold sector followed by Financial, while Computer Peripherals, Savings Loans, REIT - Industrial are among the most oversold industries. |
| Weekly S&P 500 Winners |
| Gains/Loses(%) | Symbol | Company | Sector | | 19.90% | PKI | PerkinElmer | Health Care | | 13.66% | FLIR | FLIR Systems Inc. | Information Technology | | 13.58% | MEE | Massey Energy Co. | Materials | |
| Weekly S&P 500 Loosers |
| Gains/Loses(%) | Symbol | Company | Sector | | -13.79% | AOC | Aon Corp. | Financials | | -12.59% | WPO | Washington Post Co. | Consumer Discretionary | | -8.55% | DF | Dean Foods | Consumer Staples | |
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Standard & Poor's 500 Index Trend Analysis
Standard & Poor's 500 Index daily Greed/Fear Indicator and weekly Williams' Percentage Range are overbought, while daily and weekly Lane's Stochastic are strongly overbought. Weekly Williams' Percentage Range has bearish divergence. S&P 500 index has a downtrend resistance alert. The resistance is near 944. The short-term ABC zigzag pattern is almost completed. |
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| Standard & Poor's 500 - short term ABC zigzag |  |
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| Below is an example of the similar S&P 500 long-term ABC zigzag pattern with the following down turn. |
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| Standard & Poor's 500 - long term ABC zigzag |  |
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