S&P 500 Trend Analysis - 12/23/2010

It was a fourth consecutive positive week for the S&P 500 (^GSPC). During the week, the ^GSPC gained 12.86 points, or 1.03%, and closed at 1256.77 on Thursday, December 23, 2010. The S&P 500 and NASDAQ composite indices have Uptrend Exhaustion alert. Read More ...

S&P 500 index long-term uptrend had started on March 6, 2009 at 666.79 and reached 1259.39 on Wednesday December 22, 2010. S&P 500 gained -592.6 points, or almost 90%, in 22 months. The chart has formed a three wave's structure. The third (C) wave is in progress now.

S&P 500 long-term trend

The third (C) wave up has a five wave's structure. It has started on July 1st at 1010.91 and gained almost 25% reaching 1259.39 on Wednesday December 22.

S&P 500 medium-term trend

The fifth sub wave is in progress now. It has started on November 16, 2010 at 1173 and gained 86.39 or almost 7.4%. The fifth sub wave has a fifth wave's structure as well.

S&P 500 short-term trend

Daily Relative Strength Index (RSI) and weekly Lane's Stochastic (%D-Slow) are overbought while daily Williams' Percentage Range, Lane's Stochastic, and weekly Williams' Percentage Range are strongly overbought. Daily Moving Average Convergence Divergence (MACD) has bearish divergence.

More than 40% of S&P 500 members have overbought weekly Lane's Stochastic indicator and more than 68% have overbought weekly Williams' Percentage Range indicator.

More than 127 of S&P 500 index members made a new 52-week high, while 19 of them closed this week below the previous week's close. This event is called a "buying climax".

The S&P 500 members' weekly MACD bearish/bullish divergence ratio is 48/4. It means that 12 times more S&P 500 members have weekly MACD bearish divergence than the bullish divergence. The weekly Lane's stochastic bullish/bearish divergence ratio is 89/1.

All the above technical indicators are bearish. S&P 500 index uptrend may reverse soon.

Weekly Stock Market Overview - 12/23/2010

It was an up week for the major markets. For the week the Dow Jones Industrial Average gained 81.58 points or 0.71%. The Standard & Poor's 500 Index gained 12.86 points or 1.03%, while the Nasdaq Composite gained 22.63 points or 0.86%. Read More ...

The Energy sector was the strongest sector (2.31%) last week followed by the Financial sector (2.19%). The Health Care sector was the worst performing sector (-0.06%) of the week followed by the Consumer Staples sector (0.14%).

The Conglomerates sector is the most overvalued sector followed by Basic Materials, while Oil & Gas Equipment/Svcs, Major Integrated Oil/Gas, and Specialty Chemicals are among the most overvalued industries. The Technology sector is the most oversold sector followed by Financial, while Computer Peripherals, REIT - Diversified, and Multimedia/Graphics Sftwr are among the most oversold industries.

Weekly S&P 500 Winners

Gains/Loses(%)	Symbol	Company	Sector
14.08%	JBL	Jabil Circuit	Information Technology
11.22%	ODP	Office Depot	Consumer Discretionary
10.43%	HBAN	Huntington Bancshares	Financials

Weekly S&P 500 Losers

Gains/Loses(%)	Symbol	Company	Sector
-6.29%	DRI	Darden Restaurants	Consumer Discretionary
-5.27%	BEN	Franklin Resources	Financials
-5.03%	EBAY	eBay Inc.	Consumer Discretionary

Weekly S&P 500 Alerts

Stock Market Alerts	Count
Downtrend Exhaustion	0
Downtrend Broken Resistance	28
Uptrend Support	11
Uptrend Exhaustion	57
Uptrend Broken Support	5
Downtrend Resistance	45
Oversold	2

Weekly Stock Market Overview - 12/17/2010

It was an up week for the major markets. For the week the Dow Jones Industrial Average gained 81.59 points or 0.72%. The Standard & Poor's 500 Index gained 3.51 points or 0.28%, while the Nasdaq Composite gained 5.43 points or 0.21%. Read More ...

The Health Care sector was the strongest sector (1.21%) last week followed by the Materials sector (0.83%). The Financial sector was the worst performing sector (-1.42%) of the week followed by the Consumer Discretionary sector (-0.53%).

The Utilities sector is the most overvalued sector followed by Healthcare, while Water Utilities, Medical Practitioners, and Medical Labs & Research are among the most overvalued industries. The Financial sector is the most oversold sector followed by Basic Materials, while REIT/Healthcare Facilities, REIT - Diversified, and Regional-Southeast Banks are among the most oversold industries.

Weekly S&P 500 Winners

Gains/Loses(%)	Symbol	Company	Sector
16.10%	MI	Marshall & Ilsley Corp.	Financials
10.61%	BCR	Bard (C.R.) Inc.	Health Care
9.87%	X	United States Steel Corp.	Materials

Weekly S&P 500 Losers

Gains/Loses(%)	Symbol	Company	Sector
-18.01%	BBY	Best Buy Co., Inc.	Consumer Discretionary
-8.92%	HBAN	Huntington Bancshares	Financials
-6.93%	DF	Dean Foods	Consumer Staples

Weekly S&P 500 Alerts

Stock Market Alerts	Count
Downtrend Exhaustion	1
Downtrend Broken Resistance	32
Uptrend Support	9
Uptrend Exhaustion	40
Uptrend Broken Support	2
Downtrend Resistance	42
Oversold	1

Weekly Stock Market Overview - 12/10/2010

It was an up week for the major markets. For the week the Dow Jones Industrial Average gained 28.23 points or 0.25%. The Standard & Poor's 500 Index gained 15.69 points or 1.28%, while the Nasdaq Composite gained 46.08 points or 1.78%. Read More ...

The Financial sector was the strongest sector (3.78%) last week followed by the Technology sector (1.53%). The Utilities sector was the worst performing sector (-0.50%) of the week followed by the Energy sector (0.12%).

The Services sector is the most overvalued sector followed by Technology, while Jewelry Stores, Technical Services, and Auto Parts Stores are among the most overvalued industries. The Healthcare sector is the most oversold sector followed by Industrial Goods, while Drug Manufacturers/Major, Aerospace/Defense-Prd/Svc, and General Contractors are among the most oversold industries.

Weekly S&P 500 Winners

Gains/Loses(%)	Symbol	Company	Sector
55.01%	THC	Tenet Healthcare Corp.	Health Care
18.47%	DF	Dean Foods	Consumer Staples

Weekly S&P 500 Losers

Gains/Loses(%)	Symbol	Company	Sector
-6.50%	NSM	National Semiconductor	Information Technology
-6.18%	COG	Cabot Oil & Gas Corp.	Energy
-5.96%	SWN	Southwestern Energy Co.	Utilities

Weekly S&P 500 Alerts

Stock Market Alerts	Count
Downtrend Exhaustion	0
Downtrend Broken Resistance	40
Uptrend Support	2
Uptrend Exhaustion	43
Uptrend Broken Support	6
Downtrend Resistance	73
Oversold	3

Weekly Stock Market Overview - 12/3/2010

It was an up week for the major markets. For the week the Dow Jones Industrial Average gained 290.09 points or 2.62%. The Standard & Poor's 500 Index gained 35.31 points or 2.97%, while the Nasdaq Composite gained 56.90 points or 2.24%. Read More ...

The Materials sector was the strongest sector (6.14%) last week followed by the Energy sector (5.30%). The Consumer Staples sector was the worst performing sector (1.09%) of the week followed by the Utilities sector (1.34%).

The Conglomerates sector is the most overvalued sector followed by Basic Materials, while Oil & Gas Equipment/Svcs, Oil & Gas Pipelines, and Copper are among the most overvalued industries. The Industrial Goods sector is the most oversold sector followed by Healthcare, while General Contractors, Drug Manufacturers/Major, and Hospitals are among the most oversold industries.

Weekly S&P 500 Winners

Gains/Loses(%)	Symbol	Company	Sector
17.65%	MI	Marshall & Ilsley Corp.	Financials
15.87%	ANF	Abercrombie & Fitch Co.	Consumer Discretionary
15.81%	RF	Regions Financial Corp.	Financials

Weekly S&P 500 Losers

Gains/Loses(%)	Symbol	Company	Sector
-8.50%	KR	Kroger Co.	Consumer Staples
-5.69%	LTD	Limited Brands, Inc.	Consumer Discretionary
-4.94%	EBAY	eBay Inc.	Consumer Discretionary

Weekly S&P 500 Alerts

Stock Market Alerts	Count
Downtrend Exhaustion	1
Downtrend Broken Resistance	38
Uptrend Support	4
Uptrend Exhaustion	41
Uptrend Broken Support	7
Downtrend Resistance	27
Oversold	2

Weekly Stock Market Overview - 11/26/2010

It was a mixed week for the major markets. For the week the Dow Jones Industrial Average dropped -111.55 points or -1.00%. The Standard & Poor's 500 Index dropped -10.33 points or -0.86%, while the Nasdaq Composite gained 16.44 points or 0.65%. Read More ...

The Consumer Discretionary sector was the strongest sector (0.19%) last week followed by the Industrial sector (-0.18%). The Financial sector was the worst performing sector (-2.93%) of the week followed by the Energy sector (-1.70%).

The Consumer Goods sector is the most overvalued sector followed by Basic Materials, while Auto Parts, Textile-Apparel Footwr/Ac, and Trucks & Other Vehicles are among the most overvalued industries. The Services sector is the most oversold sector followed by Industrial Goods, while Education & Training Services, General Contractors, and Food Wholesale are among the most oversold industries.

Weekly S&P 500 Winners

Gains/Loses(%)	Symbol	Company	Sector
16.72%	MWW	Monster Worldwide	Industrials
12.43%	SNDK	SanDisk Corp.	Information Technology
10.15%	NYT	New York Times Cl. A	Consumer Discretionary

Weekly S&P 500 Losers

Gains/Loses(%)	Symbol	Company	Sector
-9.22%	SVU	Supervalu Inc.	Consumer Staples
-7.98%	ARG	Airgas Inc.	Materials
-5.67%	AFL	AFLAC Corporation	Financials

Weekly S&P 500 Alerts

Stock Market Alerts	Count
Downtrend Exhaustion	3
Downtrend Broken Resistance	26
Uptrend Support	32
Uptrend Exhaustion	15
Uptrend Broken Support	3
Downtrend Resistance	10
Oversold	18

Weekly Stock Market Overview - 11/12/2010

All the major US indices were negative. For the week the Dow Jones Industrial Average dropped -251.50 points or -2.20%. The Standard & Poor's 500 Index dropped -26.64 points or -2.17%, while the Nasdaq Composite dropped -60.77 points or -2.36%. Read More ...

The Energy sector was the strongest sector (1.01%) last week followed by the Consumer Discretionary sector (-1.37%). The Financial sector was the worst performing sector (-4.11%) of the week followed by the Industrial sector (-3.05%).

The Basic Materials sector is the most overvalued sector followed by Conglomerates, while Major Integrated Oil/Gas, Agricultural Chemicals, and Copper are among the most overvalued industries. The Healthcare sector is the most oversold sector followed by Services, while Education & Training Services, Food Wholesale, and Publishing - Newspapers are among the most oversold industries.

Weekly S&P 500 Winners

Gains/Loses(%)	Symbol	Company	Sector
12.22%	HAL	Halliburton Co.	Energy
7.74%	FO	Fortune Brands, Inc.	Consumer Discretionary
6.71%	COG	Cabot Oil & Gas Corp.	Energy

Weekly S&P 500 Losers

Gains/Loses(%)	Symbol	Company	Sector
-26.82%	DF	Dean Foods	Consumer Staples
-16.94%	CSCO	Cisco Systems	Information Technology
-11.48%	BA	Boeing Company	Industrials

Weekly S&P 500 Alerts

Stock Market Alerts	Count
Downtrend Exhaustion	0
Downtrend Broken Resistance	43
Uptrend Support	13
Uptrend Exhaustion	18
Uptrend Broken Support	1
Downtrend Resistance	21
Oversold	2

Weekly Stock Market Overview - 11/5/2010

It was an up week for the major markets. For the week the Dow Jones Industrial Average gained 325.59 points or 2.93%. The Standard & Poor's 500 Index gained 42.59 points or 3.60%, while the Nasdaq Composite gained 71.57 points or 2.85%. Read More ...

The Financial sector was the strongest sector (7.01%) last week followed by the Energy sector (5.18%). The Health Care sector was the worst performing sector (0.90%) of the week followed by the Utilities sector (1.04%).

The Utilities sector is the most overvalued sector followed by Technology, while Security Software & Svcs, Telecom Services/Domestic, and Technical/System Software are among the most overvalued industries. The Healthcare sector is the most oversold sector followed by Industrial Goods, while General Contractors, Medical Appliances/Equip., and Hospitals are among the most oversold industries.

Weekly S&P 500 Winners

Gains/Loses(%)	Symbol	Company	Sector
18.87%	HAR	Harman Int'l	Consumer Discretionary
16.30%	NYT	New York Times Cl. A	Consumer Discretionary
16.11%	VMC	Vulcan Materials	Materials

Weekly S&P 500 Losers

Gains/Loses(%)	Symbol	Company	Sector
-9.21%	PWR	Quanta Services Inc.	Industrials
-7.43%	EOG	EOG Resources	Energy
-6.85%	MI	Marshall & Ilsley Corp.	Financials

Weekly S&P 500 Alerts

Stock Market Alerts	Count
Downtrend Exhaustion	0
Downtrend Broken Resistance	54
Uptrend Support	7
Uptrend Exhaustion	86
Uptrend Broken Support	4
Downtrend Resistance	62
Oversold	0

Weekly Stock Market Overview - 10/29/2010

It was a mixed week for the major markets. For the week the Dow Jones Industrial Average dropped -14.07 points or -0.13%. The Standard & Poor's 500 Index climbed 0.18 points or 0.02%, while the Nasdaq Composite gained 28.02 points or 1.13%. Read More ...

The Materials sector was the strongest sector (1.49%) last week followed by the Technology sector (1.00%). The Industrial sector was the worst performing sector (-0.92%) of the week followed by the Utilities sector (-0.47%).

The Technology sector is the most overvalued sector followed by Utilities, while Security Software & Svcs, Internet Info. Providers, and Telecom Services/Domestic are among the most overvalued industries. The Healthcare sector is the most oversold sector followed by Basic Materials, while Hospitals, Medical Appliances/Equip., and Gold are among the most oversold industries.

Weekly S&P 500 Winners

Gains/Loses(%)	Symbol	Company	Sector
27.81%	MWW	Monster Worldwide	Industrials
19.66%	EK	Eastman Kodak	Consumer Discretionary
12.51%	ATI	Allegheny Technologies Inc	Materials

Weekly S&P 500 Losers

Gains/Loses(%)	Symbol	Company	Sector
-18.95%	LXK	Lexmark Int'l Inc	Information Technology
-14.95%	S	Sprint Nextel Corp.	Telecommunications Services
-13.01%	TLAB	Tellabs, Inc.	Information Technology

Weekly S&P 500 Alerts

Stock Market Alerts	Count
Downtrend Exhaustion	0
Downtrend Broken Resistance	41
Uptrend Support	11
Uptrend Exhaustion	28
Uptrend Broken Support	4
Downtrend Resistance	30
Oversold	2

Weekly Stock Market Overview - 10/22/2010

It was an up week for the major markets. For the week the Dow Jones Industrial Average gained 37.99 points or 0.34%. The Standard & Poor's 500 Index gained 6.89 points or 0.59%, while the Nasdaq Composite gained 10.62 points or 0.43%. Read More ...

The Financial sector was the strongest sector (1.79%) last week followed by the Industrial sector (0.78%). The Materials sector was the worst performing sector (-0.87%) of the week followed by the Utilities sector (-0.08%).

The Consumer Goods sector is the most overvalued sector followed by Healthcare, while Drug Manufacturers/Other, Auto Parts, and Textile-Apparel Footwr/Ac are among the most overvalued industries. The Financial sector is the most oversold sector followed by Conglomerates, while Regional-Mid-Atlantc Bnks, Savings & Loans, and Credit Services are among the most oversold industries.

Weekly S&P 500 Winners

Gains/Loses(%)	Symbol	Company	Sector
13.09%	MEE	Massey Energy Co.	Materials
10.73%	WFC	Wells Fargo	Financials
10.71%	CPWR	Compuware Corp.	Information Technology

Weekly S&P 500 Losers

Gains/Loses(%)	Symbol	Company	Sector
-12.78%	HRB	Block H & R	Consumer Discretionary
-12.16%	MI	Marshall & Ilsley Corp.	Financials
-11.72%	LEG	Leggett & Platt	Consumer Discretionary

Weekly S&P 500 Alerts

Stock Market Alerts	Count
Downtrend Exhaustion	0
Downtrend Broken Resistance	55
Uptrend Support	1
Uptrend Exhaustion	32
Uptrend Broken Support	3
Downtrend Resistance	56
Oversold	2

Monthly W%R is strongly overbought for the first time since October 2007

It was a second consecutive positive week for the S&P 500 (^GSPC). During the week, the ^GSPC climbed 11.04 points, or 0.95%, and closed at 1176.19 on Friday, October 15, 2010. ^GSPC was trading at average weekly trading volume. Read More ...

S&P 500 - monthly trend

The S&P 500 weekly trend has started on July 1st at 1010.91 and gained more than 20% reaching 1219.80 on Wednesday October 13. The trend is forming an ABC zigzag chart pattern. The price is near the trend resistance.

Daily Williams' Percentage Range and Lane's Stochastic are overbought while weekly Williams' Percentage Range and Lane's Stochastic are strongly overbought. Monthly Williams' Percentage Range is strongly overbought for the first time since October 2007.

More than a half of S&P 500 members have overbought weekly Lane's Stochastic and more than 60% have overbought weekly Williams' Percentage Range.

More than 20% of S&P 500 index members made a new 52-week high, while 15 of them closed this week below the previous week's close. This event is called a "buying climax".

The S&P 500 members MACD bearish/bullish divergence ratio is 87/2. It means that 43 times more S&P 500 members have MACD bearish divergence than the bullish divergence. The Lane's stochastic bullish/bearish divergence ratio is 53/2.

The S&P 500 technical indicators are pretty close to the beginning of October 2007, just a week prior the beginning of the bear market of 2007-2009.

Weekly Stock Market Overview - 10/15/2010

It was an up week for the major markets. For the week the Dow Jones Industrial Average gained 88.09 points or 0.80%. The Standard & Poor's 500 Index gained 11.04 points or 0.95%, while the Nasdaq Composite gained 66.86 points or 2.78%. Read More ...

The Technology sector was the strongest sector (3.35%) last week followed by the Consumer Staples sector (1.49%). The Financial sector was the worst performing sector (-2.41%) of the week followed by the Industrial sector (0.11%).

The Basic Materials sector is the most overvalued sector followed by Consumer Goods, while Copper, Agricultural Chemicals, and Textile-Apparel Footwr/Ac are among the most overvalued industries. The Utilities sector is the most oversold sector followed by Services, while Education & Training Services, Publishing - Newspapers, and Personal Services are among the most oversold industries.

Weekly S&P 500 Winners

Gains/Loses(%)	Symbol	Company	Sector
37.34%	KG	King Pharmaceuticals	Health Care
12.15%	YHOO	Yahoo Inc.	Information Technology
11.62%	MON	Monsanto Co.	Materials

Weekly S&P 500 Losers

Gains/Loses(%)	Symbol	Company	Sector
-27.02%	APOL	Apollo Group	Consumer Discretionary
-18.04%	DV	DeVry Inc.	Industrials
-12.71%	FHN	First Horizon National	Financials

Weekly S&P 500 Alerts

Stock Market Alerts	Count
Downtrend Exhaustion	0
Downtrend Broken Resistance	67
Uptrend Support	1
Uptrend Exhaustion	63
Uptrend Broken Support	4
Downtrend Resistance	91
Oversold	0

Weekly Stock Market Overview 10/8/2010

It was an up week for the major markets. For the week the Dow Jones Industrial Average gained 176.80 points or 1.63%. The Standard & Poor's 500 Index gained 18.91 points or 1.65%, while the Nasdaq Composite gained 31.16 points or 1.31%. Read More ...

The Materials sector was the strongest sector (3.10%) last week followed by the Industrial sector (2.83%). The Health Care sector was the worst performing sector (0.92%) of the week followed by the Consumer Staples sector (0.93%).

The Basic Materials sector is the most overvalued sector followed by Consumer Goods, while Copper, Chemicals-Major Diversifd, and Textile-Apparel Footwr/Ac are among the most overvalued industries. The Healthcare sector is the most oversold sector followed by Technology, while Semiconductr-Memory Chips, Hospitals, and Medical Appliances/Equip. are among the most oversold industries.

Weekly S&P 500 Winners

Gains/Loses(%)	Symbol	Company	Sector
18.40%	JCP	Penney (J.C.)	Consumer Discretionary
13.56%	ANF	Abercrombie & Fitch Co.	Consumer Discretionary
12.65%	FO	Fortune Brands, Inc.	Consumer Discretionary

Weekly S&P 500 Losers

Gains/Loses(%)	Symbol	Company	Sector
-12.19%	CTXS	Citrix Systems	Information Technology
-9.07%	AXP	American Express	Financials

Weekly S&P 500 Alerts

Stock Market Alerts	Count
Downtrend Exhaustion	0
Downtrend Broken Resistance	64
Uptrend Support	5
Uptrend Exhaustion	13
Uptrend Broken Support	5
Downtrend Resistance	65
Oversold	2

Weekly Stock Market Overview - 10/01/2010

All the major US indices were negative. For the week the Dow Jones Industrial Average dropped -30.58 points or -0.28%. The Standard & Poor's 500 Index dropped -2.43 points or -0.21%, while the Nasdaq Composite dropped -10.47 points or -0.44%. Read More ...

The Energy sector was the strongest sector (2.79%) last week followed by the Utilities sector (0.29%). The Consumer Discretionary sector was the worst performing sector (-0.74%) of the week followed by the Financial sector (-0.72%).

The Utilities sector is the most overvalued sector followed by Basic Materials, while Copper, Water Utilities, and Chemicals-Major Diversifd are among the most overvalued industries. The Services sector is the most oversold sector followed by Healthcare, while Publishing - Newspapers, Medical Appliances/Equip., and Food Wholesale are among the most oversold industries.

Weekly S&P 500 Winners

Gains/Loses(%)	Symbol	Company	Sector
10.94%	WAG	Walgreen Co.	Consumer Staples
8.11%	PCS	MetroPCS Communications Inc.	Telecommunications Services
7.79%	EQT	EQT Corporation	Utilities

Weekly S&P 500 Losers

Gains/Loses(%)	Symbol	Company	Sector
-12.86%	MON	Monsanto Co.	Materials
-9.61%	MTB	M & T Bank Corp.	Financials
-9.23%	URBN	Urban Outfitters Inc.	Consumer Discretionary

Weekly S&P 500 Alerts

Stock Market Alerts	Count
Downtrend Exhaustion	0
Downtrend Broken Resistance	69
Uptrend Support	7
Uptrend Exhaustion	19
Uptrend Broken Support	6
Downtrend Resistance	75
Oversold	1

Weekly Stock Market Overview - 9/24/2010

It was an up week for the major markets. For the week the Dow Jones Industrial Average gained 252.41 points or 2.38%. The Standard & Poor's 500 Index gained 23.08 points or 2.05%, while the Nasdaq Composite gained 65.61 points or 2.83%. Read More ...

The Consumer Discretionary sector was the strongest sector (2.90%) last week followed by the Technology sector (2.62%). The Financial sector was the worst performing sector (-0.04%) of the week followed by the Consumer Staples sector (1.78%).

The Utilities sector is the most overvalued sector followed by Industrial Goods, while Farm/Construction Machnry, Water Utilities, and Electric Utilities are among the most overvalued industries. The Services sector is the most oversold sector followed by Basic Materials, while Publishing - Newspapers, Drugs Wholesale, and Specialty Retail Other are among the most oversold industries.

Weekly S&P 500 Winners

Gains/Loses(%)	Symbol	Company	Sector
16.21%	NVDA	NVIDIA Corp.	Information Technology
14.43%	ODP	Office Depot	Consumer Discretionary
12.42%	SHLD	Sears Holdings Corporation	Consumer Discretionary

Weekly S&P 500 Losers

Gains/Loses(%)	Symbol	Company	Sector
-18.01%	ADBE	Adobe Systems	Information Technology
-8.17%	IGT	International Game Technology	Consumer Discretionary
-6.95%	IP	International Paper	Materials

Weekly S&P 500 Alerts

Stock Market Alerts	Count
Downtrend Exhaustion	0
Downtrend Broken Resistance	88
Uptrend Support	5
Uptrend Exhaustion	17
Uptrend Broken Support	1
Downtrend Resistance	76
Oversold	4