| It was an up week for the major markets. For the week the Dow Jones Industrial Average gained 516.96 points or 4.70%. The Standard & Poor's 500 Index gained 61.78 points or 5.35%, while the Nasdaq Composite gained 154.32 points or 6.25%. Read More ... |
The Consumer Discretionary sector was the strongest sector (6.63%) last week followed by the Technology sector (6.34%). The Consumer Staples sector was the worst performing sector (2.80%) of the week followed by the Health Care sector (3.28%). |
The Technology sector is the most overvalued sector followed by Financial, while Diversified Commun Svcs, REIT/Healthcare Facilities, and REIT - Residential are among the most overvalued industries. The Industrial Goods sector is the most oversold sector followed by Utilities, while Metals Fabrication, Industrial Electrical Eqp, and Industrial Equip/Componts are among the most oversold industries. |
Weekly S&P 500 Winners |
| Gains/Loses(%) | Symbol | Company | Sector | | 22.08% | TXT | Textron Inc. | Industrials | | 18.38% | EBAY | eBay Inc. | Consumer Discretionary | | 17.35% | COL | Rockwell Collins | Industrials | |
Weekly S&P 500 Losers |
| Gains/Loses(%) | Symbol | Company | Sector | | -5.45% | ESRX | Express Scripts | Health Care | | -4.58% | THC | Tenet Healthcare Corp. | Health Care | | -4.32% | HSP | Hospira Inc. | Health Care | |
Weekly S&P 500 Alerts |
| All the major US indices were negative. For the week the Dow Jones Industrial Average dropped -248.13 points or -2.21%. The Standard & Poor's 500 Index dropped -19.74 points or -1.68%, while the Nasdaq Composite dropped -12.34 points or -0.50%. Read More ... |
The Technology sector was the strongest sector (-0.55%) last week followed by the Consumer Staples sector (-1.12%). The Financial sector was the worst performing sector (-2.47%) of the week followed by the Materials sector (-2.36%). |
The Healthcare sector is the most overvalued sector followed by Industrial Goods, while Drug Manufacturers/Other, Drug Manufacturers/Major, and Biotechnology are among the most overvalued industries. The Utilities sector is the most oversold sector followed by Consumer Goods, while Dairy Products, Appliances, and Auto Manufacturers/Major are among the most oversold industries. |
Weekly S&P 500 Winners | | Gains/Loses(%) | Symbol | Company | Sector | | 15.45% | MU | Micron Technology | Information Technology | | 12.51% | YHOO | Yahoo Inc. | Information Technology | | 10.85% | SNDK | SanDisk Corp. | Information Technology | |
Weekly S&P 500 Losers | | Gains/Loses(%) | Symbol | Company | Sector | | -11.72% | PLL | Pall Corp. | Industrials | | -9.97% | WHR | Whirlpool Corp. | Consumer Discretionary | | -9.39% | MWW | Monster Worldwide | Industrials | |
Weekly S&P 500 Alerts | | |
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S&P 500 Trend Analysis - 9/5/2011 | It was a mixed week for the major markets. During the week, the Dow Jones Industrial Average dropped -44.28 points or -0.39%. The Standard & Poor's 500 Index dropped -2.83 points or -0.24%, while the NASDAQ Composite climbed 0.48 points or 0.02%.
The Standard & Poor's 500 Index (^GSPC) closed at 1173.97 on Friday, September 02, 2011. It was trading at the average weekly trading volume. Read More ...
S&P 500 index long-term downtrend is forming a three wave’s structure (See Figure 1). The first wave down (A) had started on October 11, 2007 at 1576.09 and lost 909.30 points, or 57.69%, in 73 weeks and reached 666.79 on March 6, 2009. The second wave (B) gained 703.79 points, or more than 105%, in 26 month and reached 1370.58 on May 2, 2011. Wave B made a lower high; it is a bearish signal. The third wave down (C) is in progress now.
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| | S&P 500 long-term trend |  | |
| | Figure 1 |
The recent rally had started on August 9th, 2011 at 1101.54 and reached 1,230.71 on August 31st, 2011. It is a sub wave of a long-term C wave and it has a three wave’s structure as well (See Figure 3). Several technical indicators suggest that it was a bearish rally:- Usually when the price moves below 200 day Moving Average, the next up wave at least retests the 200 day MA as a new resistance level. The Bullish rally usually breaks this resistance level and the price moves above the 200 day MA level. The current rally is weak and it was not even able to reach the 200 day MA.
- Daily Lane's Stochastic %D line is about to crossover with %k line. It is usually considered as a sell signal.
- Sub wave C’s high is only 1.8% higher than sub wave A’s high, while daily Lane's Stochastic has raised substantially and has moved into an overbought area. This divergence is considered as a bearish signal.
- The rally could not reach the Upper Bollinger Band, and this is a bearish indicator.
All the above signals may indicate that the rally might be over, and a new sub wave down has started. S&P 500 index may break the support around 1100 and move down to the next support area around 1000 - 950.
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| | S&P 500 medium-term trend |  | |
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Figure 2 | |
Presented by www.thegreedytrader.com Research Group. | |
| It was a mixed week for the major markets. For the week the Dow Jones Industrial Average dropped -44.28 points or -0.39%. The Standard & Poor's 500 Index dropped -2.83 points or -0.24%, while the Nasdaq Composite climbed 0.48 points or 0.02%. Read More ... |
The Utilities sector was the strongest sector (0.88%) last week followed by the Health Care sector (0.65%). The Financial sector was the worst performing sector (-1.80%) of the week followed by the Technology sector (-0.76%). |
The Industrial Goods sector is the most overvalued sector followed by Healthcare, while Drug Manufacturers/Other, Drug Manufacturers/Major, and Biotechnology are among the most overvalued industries. The Utilities sector is the most oversold sector followed by Financial, while Regional-Southeast Banks, Diversified Investments, and Regional-Pacific Banks are among the most oversold industries. |
Weekly S&P 500 Winners | | Gains/Loses(%) | Symbol | Company | Sector | | 15.63% | MWW | Monster Worldwide | Industrials | | 14.21% | JDSU | JDS Uniphase Corp | Information Technology | | 9.17% | FDO | Family Dollar Stores | Consumer Discretionary | |
Weekly S&P 500 Losers | | Gains/Loses(%) | Symbol | Company | Sector | | -7.21% | FHN | First Horizon National | Financials | | -7.11% | SLM | SLM Corporation | Financials | | -6.90% | MON | Monsanto Co. | Materials | |
Weekly S&P 500 Alerts | | |
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