Saturday, May 30, 2009

Weekly Market Update

The Greedy Trader Weekly Analysis
5/29/2009
Weekly Stock Market Overview
It was an up week for the major markets. For the week the Dow Jones Industrial Average gained 223.01 points or 2.69%. The Standard & Poor's 500 Index gained 32.14 points or 3.62%, while the Nasdaq Composite gained 82.32 points or 4.87%.
The Energy sector was the strongest sector (6.32%) last week followed by the Financial sector (4.89%). The Consumer Staples sector was the worst performing sector (0.83%) of the week followed by the Health Care sector (2.14%).
The Technology sector is the most overvalued sector followed by Basic Materials, while Technical/System Software, Oil & Gas Drilling/Exploration, and Copper are among the most overvalued industries. The Utilities sector is the most oversold sector followed by Consumer Goods, while Photographic Equip/Supplies, Dairy Products, Beverages-Winery/Distillers are among the most oversold industries.
Weekly S&P 500 Winners
Gains/Loses(%) Symbol Company Sector
13.08% THC Tenet Healthcare Corp. Health Care
10.76% NWSA News Corporation Consumer Discretionary
8.81% CIT CIT GROUP INC Financials
Weekly S&P 500 Loosers
Gains/Loses(%) Symbol Company Sector
-33.04% GM General Motors Consumer Discretionary
-6.09% NOVL Novell Inc. Information Technology
-5.36% CTAS Cintas Corporation Industrials
Weekly S&P 500 Alerts
Stock Market Alerts Count
Downtrend Exhaustion 1
Downtrend Broken Resistance 2
Uptrend Support 13
Uptrend Exhaustion 6
Uptrend Broken Support 1
Downtrend Resistance 15
Oversold 4
Overbought 48