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