Almost 18% of S&P 500 component stocks have an above average weekly volume

It was an up week for the major markets. For the week the Dow Jones Industrial Average gained 121.33 points or 0.69%. The Standard & Poor's 500 Index gained 24.19 points or 1.16%, while the Nasdaq Composite gained 39.65 points or 0.78%. Read More ...

Almost 18% of S&P 500 component stocks have an above average weekly volume. It is a highest level since February 06, 2015. Almost 18% of S&P 500 component stocks have weekly lane's stochastic main line (k%) crossed above oversold signal line (d%). It is a highest level since October 17, 2014. The stochastic crossover in oversold area is considered a buy signal. Chart below shows how the weekly lane's stochastic main line (k%) crossed above oversold signal line (d%) on October 17, 2014 signals the S&P 500 downtrend reversal. The S&P 500 index weekly uptrend started on October 15, 2014 at 1,820.66 and reached 2,093.55 on December 29, 2014, making 14.99% gain in seven weeks. ^GSPC: S&P 500 Index The Utilities Select Sector SPDR sector was the strongest sector (3.92%) last week followed by the Industrial Select Sector SPDR sector (2.50%). The Energy Select Sector SPDR sector was the worst performing sector (-0.19%) of the week followed by the Financial Select Sector SPDR sector (0.36%).

The Healthcare sector is the most overvalued sector followed by Financial, while Drug Delivery, Hospitals, and Drug Manufacturers/Other are among the most overvalued industries. The Utilities sector is the most oversold sector followed by Basic Materials, while Aluminum, Industrial Metals/Mineral, and Copper are among the most oversold industries.

Weekly S&P 500 Winners

Gains/Loses(%) Symbol Company Sector 19.82% X United States Steel Corp. Materials 13.84% CCE Coca-Cola Enterprises Consumer Staples 12.92% MAS Masco Corp. Industrials

Weekly S&P 500 Losers

Gains/Loses(%) Symbol Company Sector -15.09% MYL Mylan Inc. Health Care -9.97% WFM Whole Foods Market Consumer Staples

Weekly S&P 500 Alerts

Stock Market Alerts Count Downtrend Exhaustion 7 Downtrend Broken Resistance 30 Uptrend Support 13 Uptrend Exhaustion 5 Uptrend Broken Support 0 Downtrend Resistance 32 Oversold 30