*** Status: Market Bullish – Sector Funds ***
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The Market higher again this week, with the SP-500 rising just over 2 percent for the week.. Sector Funds remain firmly at the top of the Rankings - especially Real Estate funds. The general market trading filter I use (SP-500 53 day CCI) is now at +208 slightly up from from +196 last week indicating Market Up. The composite SP-500 indicators on the daily chart are Bullish with the CCI(53) composite Bullish, and the MACD composite Bullish. The CCI indicators at the right give a good indication of the market indicating a bullish state for all the indices with bond funds in decline as indicated by IEF.
The Guppy Plot for the SP-500 Index is Bullish with the Fast Moving Averages above the Slow Moving Averages. The average slope of the Fast Moving Averages is positive and the average slope of the Slow Moving Averages is positive. The ADX components remain Bullish and the Stoch is 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 sector funds firmly 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: 39% Bullish / 32% Neutral / 29% Bearish
InvestorsIntelligence: 54% Bullish / 20% Bearish
Barchart: SP500: 96% Buy
Barchart QQQ: 96% Buy
Bulkowski: Bullish (CPI= 92%)
Buy-Don't Hold: Buy (4)
Consensus Traders: 70% Bullish (SPY)
Consensus Traders: 69% Bullish (QQQ)
Keybot the Quant: Bullish
MTRInvestorsMarket Timing Model: Market Up
MyPlanIQTrend Score:15.03% (% SPY 11.03% last week)
Stock TA (SPY): Bullish
Stock TA (QQQ): Bullish
Wishing Wealth: Buy (Current Signal); 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 May 19, 2013|
|SP-500 Daily Guppy Chart for May 19, 2013|