The Stock Market Week - 9/25/2009

All the major US indices were negative. For the week the Dow Jones Industrial Average dropped -155.01 points or -1.58%. The Standard & Poor's 500 Index dropped -23.92 points or -2.24%, while the Nasdaq Composite dropped -41.94 points or -1.97%.

The Consumer Staples sector was the strongest sector (-0.63%) last week followed by the Health Care sector (-0.80%). The Materials sector was the worst performing sector (-4.59%) of the week followed by the Financial sector (-3.63%).

The Utilities sector is the most overvalued sector followed by Basic Materials, while Chemicals-Major Diversifd, Copper, and Agricultural Chemicals are among the most overvalued industries. The Financial sector is the most oversold sector followed by Industrial Goods, while Savings & Loans, Waste Management, and Lumber Wood Production are among the most oversold industries.

Weekly S&P 500 Winners

Gains/Loses(%) Symbol Company Sector 11.75% AIG American Int'l. Group Financials 5.43% MBI MBIA Inc. Financials 5.04% F Ford Motor Consumer Discretionary

Weekly S&P 500 Loosers

Gains/Loses(%) Symbol Company Sector -20.09% MCO Moody's Corp Financials -16.08% KBH KB Home Consumer Discretionary -12.82% EK Eastman Kodak Consumer Discretionary

Standard & Poor's 500 Index Trend Analysis The current S&P 500 up trend has an ABC structure. The first leg up (wave A) presents a sharp advance from 666.75 on March 6th to 956.23 on June 11th. The second leg up (wave C) advanced from 869.35 in July to 1080.15 on September 23rd (29% shorter than wave A). In our previous publication we wrote: the next up leg could reach the resistance level around 1075 in the beginning of October. The S&P 500 was able to reach the resistance level even earlier, but it was not able to close above the resistance level so far. The resistance caused a sharp sell off. The S&P has lost 3.3% in two days. Weekly Williams' % Range indicator is still overbought while weekly Lane's Stochastic is strongly overbought. Daily Lane's stochastic crossed over its moving average above 80%, which is considered as a sell signal. The next support level is near 970.

Standard & Poor's 500

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Weekly Stosk Market Update - 9/11/2009

The Greedy Trader Weekly Analysis Sign In 9/11/2009 Weekly Stock Market Overview It was an up week for the major markets. For the week the Dow Jones Industrial Average gained 164.14 points or 1.74%. The Standard & Poor's 500 Index gained 26.33 points or 2.59%, while the Nasdaq Composite gained 62.12 points or 3.08%. The Energy sector was the strongest sector (5.18%) last week followed by the Industrial sector (4.11%). The Utilities sector was the worst performing sector (0.07%) of the week followed by the Health Care sector (1.51%). The Consumer Goods sector is the most overvalued sector followed by Technology, while Semiconductr-Memory Chips, Printed Circuit Boards, and Housewares & Accessories are among the most overvalued industries. The Utilities sector is the most oversold sector followed by Services, while Publishing - Books, Auto Parts Stores, and Restaurants are among the most oversold industries. Weekly S&P 500 Winners Gains/Loses(%) Symbol Company Sector 28.61% MTW Manitowoc Co. Industrials 25.39% AMD Advanced Micro Devices Information Technology 17.75% PCS MetroPCS Communications Inc. Telecommunications Services Weekly S&P 500 Loosers Gains/Loses(%) Symbol Company Sector -7.03% FITB Fifth Third Bancorp Financials -6.24% AIG American Int'l. Group Financials -5.36% AEE Ameren Corporation Utilities Weekly S&P 500 Alerts Stock Market Alerts Count Downtrend Exhaustion 0 Downtrend Broken Resistance 4 Uptrend Support 6 Uptrend Exhaustion 50 Uptrend Broken Support 6 Downtrend Resistance 25 Oversold 0 Overbought 144

Stock Market Wave Analysis – 9/4/2009

The Standard Poor's 500 Index is forming a rising wedge chart pattern. A rising wedge is generally considered bearish and it is usually found in downtrends. A rising wedge forms over a 3-6 months period. The current up trend is totally contained within the rising wedge. From low 666.75 on March 6th, S&P 500 surpassed 1000 in less than 6 months. The Elliott Wave count of the S&P 500 index is shown below. The wage has formed an A-B-C-D wave structure with the wave D currently in progress. Rising A and C waves have similar five sub wave structures with bearish divergence between sub wave 3 and 5. Wave B is a three-wave Zig-Zag correction. For the count to be correct, wave D must be forming a three-wave Zig-Zag correction at present. The support line is now near 970. The first leg up (wave A) was a sharp advance from 666.75 on March 6th to 956.23 on June 11th. The second leg up (wave C) advanced from 869.35 in July to 1039.47 in August (41% shorter than wave A). If support holds, the next up leg could reach the resistance level around 1075 in the beginning of October. A rising wedge chart pattern technical targets are usually derived by subtracting the height of the pattern from the eventual breakout level. If wave D breaks the support line, the technical target is around 770.

Standard & Poor's 500

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