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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The Stock Market Week - 7/24/2009

It was an up week for the major markets. The Standard & Poor's 500 Index reached 979.8, the highest level since November 5th 2008. For the week the Dow Jones Industrial Average gained 349.30 points or 3.99%. The Standard & Poor's 500 Index gained 38.88 points or 4.13%, while the Nasdaq Composite gained 79.35 points or 4.21%.

The Materials sector was the strongest sector (8.04%) last week followed by the Energy sector (5.66%). The Financial sector was the worst performing sector (2.31%) of the week followed by the Consumer Staples sector (2.51%).

The Basic Materials sector is the most overvalued sector followed by Technology, while Security Software & Svcs, Personal Computers, and Diversified Computer Sys are among the most overvalued industries. The Services sector is the most oversold sector followed by Healthcare, while Food Wholesale, Drugs Wholesale, and Electronics Stores are among the most oversold industries.

Weekly S&P 500 Winners

Gains/Loses(%) Symbol Company Sector 10.23% RSH RadioShack Corp. Consumer Discretionary 10.11% BDK Black & Decker Corp. Consumer Discretionary 9.72% PLD ProLogis Financials

Weekly S&P 500 Loosers

Gains/Loses(%) Symbol Company Sector -8.26% MSFT Microsoft Corp. Information Technology -6.79% BRCM Broadcom Corporation Information Technology -5.50% FII Federated Investors Inc. Financials

Weekly S&P 500 Alerts

Stock Market Alerts Count Downtrend Exhaustion 0 Downtrend Broken Resistance 5 Uptrend Support 2 Uptrend Exhaustion 19 Uptrend Broken Support 0 Downtrend Resistance 27 Oversold 1 Overbought 109

Standard & Poor's 500 Index Trend Analysis

In our previous publication on June 7th we wrote:

	132 out of S&P 500 members have an Uptrend Support alert. If support holds and price does not breakdown the neckline, the uptrend may resume and we may see S&P above the 1000 mark pretty soon.

The Standard & Poor's 500 Index gained more than 12.7% since July 8th, and almost 47% since March 6th, reaching 979.8 on Friday, the highest level since November 5th, 2008. Daily Lane's Stochastic, Williams' % Range and Relative Strength Index are overbought/strongly overbought for all three major US indices. Weekly Williams' % Range is strongly overbought, signaling that market is moving too fast in a weekly time frame as well; and the rally may not be sustainable for a long period. 109 out of S&P 500 members are overbought, 51 stocks have daily MACD bearish divergence, indicating that the rally is already slowing down. The next resistance level for S&P 500 index is around 993. Considering overbought technical indicators, it would be difficult to break this resistance level; and chances are high that the stock market trend may reverse soon.

Standard & Poor's 500

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S&P 500 - head and shoulders pattern

The Stock Market Week - 7/10/2009

All the major US indices were negative. For the week the Dow Jones Industrial Average dropped -134.22 points or -1.62%. The Standard & Poor's 500 Index dropped -17.29 points or -1.93%, while the Nasdaq Composite dropped -40.49 points or -2.25%.

The Consumer Staples sector was the strongest sector (0.00%) last week followed by the Health Care sector (-0.43%). The Materials sector was the worst performing sector (-3.34%) of the week followed by the Energy sector (-3.23%).

The Healthcare sector is the most overvalued sector followed by Industrial Goods, while Drug Delivery, Medical Labs & Research, and Specialized Health Svcs are among the most overvalued industries. The Utilities sector is the most oversold sector followed by Consumer Goods, while Photographic Equip/Supls, Recreational Vehicles, and Business Equipment are among the most oversold industries.

Weekly S&P 500 Winners

Gains/Loses(%) Symbol Company Sector 8.49% HAR Harman Int'l Consumer Discretionary 5.45% HBAN Huntington Bancshares Financials

Weekly S&P 500 Loosers

Gains/Loses(%) Symbol Company Sector -17.74% CIT CIT GROUP INC Financials -5.00% NWSA News Corporation Consumer Discretionary -4.90% VMC Vulcan Materials Materials

Standard & Poor's 500 Index Trend Analysis

In our previous publication on June 7th we wrote:

S&P and Nasdaq have an Uptrend Exhaustion alert. This alert indicates that the uptrend is exhausted and the trend is about to reverse. ... there is still too much bullish force for the stock to decline sharply. On the other hand, it is recommended to set a tight stop.

On June 11th S&P 500 index reached 956.23 making six months high. Since then the trend turned down and S&P lost almost 10% reaching 869.32 on Wednesday July 8th. The short term trend has formed the head and shoulders pattern. The right shoulder is completed and price is near the neckline.

Standard & Poor's 500

Daily Williams' % Range indicator is oversold for all three major indices (S&P 500, Dow Jones, and Nasdaq). Daily Lane's Stochastic indicator is oversold for S&P and Nasdaq as well. 132 out of S&P 500 members have an Uptrend Support alert. If support holds and price does not breakdown the neckline, the uptrend may resume and we may see S&P above the 1000 mark pretty soon. If price breaks down the neckline, it would confirm the head and shoulders pattern. Next support level is near 825. Then price may retest the March's low level (666.78).

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S&P 500 - Uptrend Exhaustion alert

On Friday, June 5th Standard & Poor's 500 indices reached 951.69 making the 28 weeks' high. Index has gained almost 43% since March's low (666.78). Technical indicators show that this rate of growth may not be sustainable. All three major US indices are strongly overbought in daily and weekly time frames. Standard & Poor's 500 and Dow Jones have MACD Bearish Divergence. Almost 30% of S&P 500 members are overbought, and more than 10% are near the resistance level, while almost 20% have daily MACD Bearish Divergence. S&P and Nasdaq have an Uptrend Exhaustion alert. This alert indicates that the uptrend is exhausted and the trend is about to reverse. The next S&P resistance level is near 1044, but chances are high that S&P may not reach this level soon. The support is near 470.

Standard & Poor's 500

On Friday 35 members of S&P 500 index had a Bearish Dark Cloud Cover candlestick pattern. The Dark Cloud Cover pattern occurs often in a strong uptrend. This pattern is considered as an indication of a future bearish trend. It is more reliable when confirmed by other technical indicators, such as bearish divergence. The Dark Cloud Cover often occurred when there is still too much bullish force for the stock to decline sharply. On the other hand, it is recommended to set a tight stop.

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Weekly Market Update

The Greedy Trader Weekly Analysis 5/29/2009 Weekly Stock Market Overview It was an up week for the major markets. For the week the Dow Jones Industrial Average gained 223.01 points or 2.69%. The Standard & Poor's 500 Index gained 32.14 points or 3.62%, while the Nasdaq Composite gained 82.32 points or 4.87%. The Energy sector was the strongest sector (6.32%) last week followed by the Financial sector (4.89%). The Consumer Staples sector was the worst performing sector (0.83%) of the week followed by the Health Care sector (2.14%). The Technology sector is the most overvalued sector followed by Basic Materials, while Technical/System Software, Oil & Gas Drilling/Exploration, and Copper are among the most overvalued industries. The Utilities sector is the most oversold sector followed by Consumer Goods, while Photographic Equip/Supplies, Dairy Products, Beverages-Winery/Distillers are among the most oversold industries. Weekly S&P 500 Winners Gains/Loses(%) Symbol Company Sector 13.08% THC Tenet Healthcare Corp. Health Care 10.76% NWSA News Corporation Consumer Discretionary 8.81% CIT CIT GROUP INC Financials Weekly S&P 500 Loosers Gains/Loses(%) Symbol Company Sector -33.04% GM General Motors Consumer Discretionary -6.09% NOVL Novell Inc. Information Technology -5.36% CTAS Cintas Corporation Industrials Weekly S&P 500 Alerts Stock Market Alerts Count Downtrend Exhaustion 1 Downtrend Broken Resistance 2 Uptrend Support 13 Uptrend Exhaustion 6 Uptrend Broken Support 1 Downtrend Resistance 15 Oversold 4 Overbought 48