Friday, March 26, 2010

Weekly Stock Market Overview - 3/26/2010

It was an up week for the major markets. For the week the Dow Jones Industrial Average gained 108.38 points or 1.01%. The Standard & Poor's 500 Index gained 6.69 points or 0.58%, while the Nasdaq Composite gained 20.72 points or 0.87%. Read More ...

The Consumer Discretionary sector was the strongest sector (2.04%) last week followed by the Financial sector (1.98%). The Energy sector was the worst performing sector (-2.09%) of the week followed by the Utilities sector (-1.70%).

The Financial sector is the most overvalued sector followed by Utilities, while REIT - Hotel/Motel, Regional-Pacific Banks, and REIT - Residential are among the most overvalued industries. The Basic Materials sector is the most oversold sector followed by Healthcare, while Oil & Gas Drilling/Explor, Aluminum, and Major Integrated Oil/Gas are among the most oversold industries.

Weekly S&P 500 Winners
Gains/Loses(%) Symbol Company Sector
13.59% LEN Lennar Corp. Consumer Discretionary
11.33% CLF Cleveland-Cliffs Materials
10.51% C Citigroup Inc. Financials


Weekly S&P 500 Loosers
Gains/Loses(%) Symbol Company Sector
-10.76% GENZ Genzyme Corp. Health Care
-5.98% NOV National Oilwell Varco, Inc. Energy
-5.85% PEG Public Serv. Enterprise Inc. Utilities


Weekly S&P 500 Alerts
Stock Market Alerts Count
Downtrend Exhaustion 1
Downtrend Broken Resistance 24
Uptrend Support 8
Uptrend Exhaustion 17
Uptrend Broken Support 6
Downtrend Resistance 29
Oversold 8

Sunday, March 21, 2010

Dow Jones Elliott Wave count

Dow Jones Trend Analysis - 3/19/2010

It was a third consecutive positive week for the Dow Jones (^DJI). During the week, the ^DJI gained 117.29 points, or 1.10%, and closed at 10741.98 on Friday, March 19, 2010. Weekly volume was -15% below average. Read More ...

We have considered two possible scenarios for Dow Jones, and on February 19 we wrote:

       The next week is critical to recognize which scenario is in play. If after a short pause the rally continues, chances are high that scenario #2 unfolds. If we see a sharp decline next week, scenario #1 could be in progress.

The following week (Feb. 22 - Feb 26) major US indices did not show a sharp decline. For the week the Dow Jones Industrial Average dropped -77.09 points or -0.74%. The Standard Poor's 500 Index dropped -4.68 points or -0.42%, while the Nasdaq Composite dropped -5.61 points or -0.25%.

According to our scenario #2:

       Scenario #2: The Dow Jones medium-term uptrend is still in progress. The current short-term down wave that started on January 14 is a fourth sub wave of the current medium term uptrend.

If scenario #2 unfolds, a short-term downtrend from January 14, 2010 to February 5 is completed. It presents a fourth sub wave of the medium-term uptrend (from March 9, 2009). The fifth sub wave is in progress now. This sub wave should bring Dow Jones above January’s high - 10767.15.

On Thursday, March 18th Dow Jones reached 10821.49. It is the highest level since November 2008. ^DJI gained -4381.41 points, or -68.03%, in 53 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 10442.03 and resistance is at 11336.82. Weekly Williams' Percentage Range is strongly overbought.
Dow Jones Industrial Average - medium-term trend
Technical Stock Market Timing System


A short-term uptrend had started on February 5, 2010 at 9835.09 and reached 10821.49 on March 18, 2010. ^DJI gained -986.40 points, or -10.03%, in 41 days. The chart has formed a Rising Channel chart pattern. The trend support level is at 10550.41, and resistance is at 10811.74. Daily Relative Strength Index and Lane's Stochastic are overbought while Williams' Percentage Range is strongly overbought. A short-term uptrend has formed a three wave structure. The third wave is near completion. Friday's decline may mark the beginning of the fourth sub wave.

Dow Jones Industrial Average - short-term trend
Technical Stock Market Timing System


The summary of the medium-term uptrend wave analysis: the third sub wave of the fifth wave up is in near completion. The risk of a medium-term trend reversal is high.


Presented by www.thegreedytrader.com Research Group.

Friday, March 19, 2010

Weekly Stock Market Overview - 3/19/2010

It was an up week for the major markets. For the week the Dow Jones Industrial Average gained 117.29 points or 1.10%. The Standard & Poor's 500 Index gained 9.91 points or 0.86%, while the Nasdaq Composite gained 6.75 points or 0.29%. Read More ...

The Industrial sector was the strongest sector (1.45%) last week followed by the Health Care sector (1.29%). The Energy sector was the worst performing sector (-2.09%) of the week followed by the Materials sector (-0.03%).

The Utilities sector is the most overvalued sector followed by Services, while Electronics Wholesale, Regional Airlines, and Apparel Stores are among the most overvalued industries. The Basic Materials sector is the most oversold sector followed by Technology, while Long Distance Carriers, Aluminum, and Semiconductor Equip/Matrl are among the most oversold industries.

Weekly S&P 500 Winners
Gains/Loses(%) Symbol Company Sector
15.08% LSI LSI Corporation Information Technology
8.34% CVH Coventry Health Care Inc. Health Care
8.23% AET Aetna Inc. (New) Health Care


Weekly S&P 500 Loosers
Gains/Loses(%) Symbol Company Sector
-11.68% NBR Nabors Industries Ltd. Energy
-10.73% SWN Southwestern Energy Co. Utilities
-9.68% DYN Dynegy Inc. (New) Class A Utilities


Weekly S&P 500 Alerts
Stock Market Alerts Count
Downtrend Exhaustion 0
Downtrend Broken Resistance 24
Uptrend Support 5
Uptrend Exhaustion 40
Uptrend Broken Support 5
Downtrend Resistance 56
Oversold 1

Friday, March 12, 2010

Weekly Stock Market Overview - 3/12/2010

It was an up week for the major markets. For the week the Dow Jones Industrial Average gained 58.49 points or 0.55%. The Standard & Poor's 500 Index gained 11.30 points or 0.99%, while the Nasdaq Composite gained 41.31 points or 1.78%. Read More ...

The Financial sector was the strongest sector (2.10%) last week followed by the Technology sector (1.97%). The Health Care sector was the worst performing sector (-0.56%) of the week followed by the Utilities sector (-0.40%).

The Services sector is the most overvalued sector followed by Consumer Goods, while Toys & Games, Regional Airlines, and Meat Products are among the most overvalued industries. The Healthcare sector is the most oversold sector followed by Industrial Goods, while General Contractors, Medical Labs & Research, and Hospitals are among the most oversold industries.



Weekly S&P 500 Winners
Gains/Loses(%) Symbol Company Sector
21.90% AIG American Int'l. Group Financials
13.43% C Citigroup Inc. Financials
12.01% ZION Zions Bancorp Financials


Weekly S&P 500 Loosers
Gains/Loses(%) Symbol Company Sector
-7.25% EQT EQT Corporation Utilities
-6.40% ADM Archer-Daniels-Midland Consumer Staples
-5.93% PLL Pall Corp. Industrials


Weekly S&P 500 Alerts
Stock Market Alerts Count
Downtrend Exhaustion 0
Downtrend Broken Resistance 23
Uptrend Support 2
Uptrend Exhaustion 26
Uptrend Broken Support 0
Downtrend Resistance 58
Oversold 5

Sunday, March 07, 2010

NASDAQ Trend Analysis - 3/5/2010

It was the positive week for the NASDAQ (^IXIC). During the week, the ^IXIC gained 88.09 points, or 3.94%, and closed at 2326.35 on Friday, March 05, 2010. It was the best weekly gain since October 9, 2009. Price has reached the best level since September 2008. Weekly volume was 11% above average. Read More ...

A medium-term uptrend had started on March 9, 2009 at 1265.52 and reached 2327.03 on Friday, March 05. NASDAQ gained -1061.51 points, or -83.88%, in 51 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 2302.14 and resistance is at 2445.95. A medium-term trend has formed a five-wave structure. The fifth wave is in progress now.







NASDAQ: medium-term uptrend
NASDAQ: medium-term uptrend


A short-term uptrend had started on February 5, 2010 at 2100.17 and reached 2327.03 on March 5, 2010. NASDAQ gained -226.86 points, or -10.80%, in 28 days. The chart has formed a Rising Channel chart pattern. The price is near the trend resistance line (2331.43).





NASDAQ: short-term uptrend
NASDAQ: short-term uptrend


Weekly Williams' Percentage Range is strongly overbought. Daily Relative Strength Index and Williams' Percentage Range are overbought, while Lane's Stochastic is strongly overbought.

A short-term trend has formed an A-B-C wave structure. Wave C is near completion and a pullback is expected soon.

Friday, March 05, 2010

Weekly Stock Market Overview - 3/5/2010

It was an up week for the major markets. For the week the Dow Jones Industrial Average gained 240.94 points or 2.33%. The Standard & Poor's 500 Index gained 34.20 points or 3.10%, while the Nasdaq Composite gained 88.09 points or 3.94%. Read More ...

The Materials sector was the strongest sector (5.30%) last week followed by the Consumer Discretionary sector (4.16%). The Health Care sector was the worst performing sector (1.97%) of the week followed by the Consumer Staples sector (2.07%). The Consumer Goods sector is the most overvalued sector followed by Conglomerates, while Meat Products, Auto Manufacturers/Major, and Confectioners are among the most overvalued industries. The Utilities sector is the most oversold sector followed by Industrial Goods, while General Contractors, Electric Utilities, and Lumber Wood Production are among the most oversold industries.

Weekly S&P 500 Winners
Gains/Loses(%) Symbol Company Sector
25.74% NOVL Novell Inc. Information Technology
16.28% ANF Abercrombie & Fitch Co. Consumer Discretionary
14.51% MEE Massey Energy Co. Materials


Weekly S&P 500 Loosers
Gains/Loses(%) Symbol Company Sector
-9.59% SPLS Staples Inc. Consumer Discretionary
-6.16% FTR Frontier Communications Telecommunications Services
-3.41% HRB Block H & R Consumer Discretionary


Weekly S&P 500 Alerts
Stock Market Alerts Count
Downtrend Exhaustion 0
Downtrend Broken Resistance 20
Uptrend Support 2
Uptrend Exhaustion 12
Uptrend Broken Support 0
Downtrend Resistance 49