*** Status: Market Bearish – Precious Metals & Sector Funds ***
Bearish - Week 2
The SP-500 closed up 1.04% percent for the week..A mix of sector funds including now Precious Metals and Technology Funds are at the top of the Rankings. Bond Funds dropped again this week and have also dropped in our rankings. The general market trading filter I use (SP-500 53 day CCI) remains Bearish and is at -18 up from -55 last week indicating Market Down. The composite SP-500 indicators on the daily chart are now Bearish with the CCI(53) composite Bearish and the MACD composite Bearish. The CCI indicators at the right give a good indication of the market indicating the Bearish state for the stock indices, except for QQQ, and bearish for junk and intermediate bond funds.
The Guppy Plot for the SP-500 Index remains in a Bearish stance from last week with the Fast Moving Averages starting to cross below the Slow Moving Averages.. However there are signs of improvement with the average slope of the Fast Moving Averages turning positive and the average slope of the Slow Moving Averages is negative. The ADX components are Bearish, but the Stoch has turned back up.
We’ll see what the next week brings. We don't try to forecast the market here, rather we just monitor the current conditions and react accordingly. I hope you find this blog helpful. If you do, why not leave a comment.
This week's Rankings continue to have select sector funds (especially Small Cap Funds and now Technology and Precious Metals) at the top of the Rankings. Ranking scores are color coded to indicate positive ranking scores (rate of change / volatility) in green, and negative ranking scores in red. Overall the list is sorted by overall rank but the score that makes up the rank can be positive or negative depending on the recent rate of change. The full list of the funds that are ranked can be found under the Funds tab. Current Rankings of the Funds can be found under the Rankings tab.
What Others are Saying (all free sites): Overall - Bullish
AAII Sentiment: 36% Bullish / 33% Neutral / 31% Bearish
InvestorsIntelligence: 37% Bullish / 24% Bearish
Barchart: SP-500: 67% Buy
Barchart QQQ: 64% Buy
Bulkowski: Bullish (CPI= 71%)
Buy-Don't Hold: - Neutral/Hold (2)
Keybot the Quant: Bearish
MTRInvestorsMarket TimingModel: Market Up
Stock TA (SPY): Neutral
StockTA (QQQ): Bullish
Wishing Wealth: Buy; QQQ Uptrend
TheWizard SP-500: Very Bullish (Long Term Signal)
TheWizardNasdaq: Very Bullish (Long Term Signal)
dshort.com: Invested (monthly SP-500 10-EMA signal)
Click on Charts to Enlarge
|SP-500 Daily Chart for September 8, 2013|
|SP-500 Daily Guppy Chart for September 8, 2013|