SPY Trend Analysis - 1/5/2007

It was a mixed week for the major markets. For the week, the Dow Jones Industrial Average gave back 65.14 points, or 0.52%. The Standard Poor's 500 Index lost 8.59 points, or 0.61%, while the Nasdaq Composite climbed 18.96 points, or 0.78%.

Oscillators Trend Analysis Symbol Daily Weekly Daily Weekly Mtly Qtly Yrly SPY

SPY Long-term perspective:
The long-term up channel that started on 6/14/2006 is broken. A new downtrend started on Des. 14, 2006. It may take SPY to the multiyear support line. Weekly Williams' % Range and Lane's Stochastic are still in overbought area.

SPY - Long-Term Trend

SPY Short-term perspective:
The new weekly down channel is forming. Price is near support level. Daily technical indicators are neutral. While the long-term trend has turned down, but short-term SPY may briefly retest the weekly down channel resistance at 142.78.

SPY - Short-Term Trend

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