*** Status: Market Bullish - Sector Funds ***
Well we’ve moved from an “iffy” market to a major thrust upward. Sorry to sound like a broken record, but caution is still needed – at least be aware we are now back at a major resistance level of ~1225. The general market trading filter I use (SP-500 53 day CCI) is at 147 indicating Market Up which is up from 54 last week. My multiple composite SP-500 indicators on the daily chart are both positive also providing a bullish signal. As seen at the right the CCI(53) indicator is positive for all the four major indexes.
The SP-500 essentially tested the 1225 level, retreated to bounce off the 50 day MA and is now back at the 1225 potential resistance level. The Guppy Plot is showing that the fast moving averages have quickly reversed back up, with the average slope of the fast and slow moving averages now positive. The ADX components have moved back to slightly bullish. Is this a move back to a bullish market after consolidation, or will be have a failed retest of the 1225 level - only time will tell. We don't try to forecast the market here, rather we just monitor the current conditions and react accordingly. This week there are two changes to the model portfolios. I hope you find this blog helpful. If you do, why not leave a comment.
Rankings:
This week's Rankings show sector funds are now at the top with bond funds at the bottom 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.
Actions:
Sell UOPIX in the Schwab Portfolio.
Sell VGT in the Vanguard Portfolio.
Buy SMPIX in the Schwab Portfolio.
Buy VBK in the Vanguard Portfolio.
Model portfolios are listed here.
Performance (NOT including dividends):
Vanguard: 2.40% (SPY: 14.80%)
Schwab: 9.20% (SPY: 14.54%)
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Disclosure:
No positions at the time of this post.
What others are saying (all free sites): Overall Bullish
Barchart: 96% Buy (up from 8% last week)
Bulkowski: Buy (shorter term signal CPI=85% up from 33%)
Buy-Don't Hold: Sell Signal
MTR Investors Market Timing Model: Market Up
My Trend Timer: Bullish
OneQTrades: Buy
Stock TA (SPY): Bullish
Stock Trends: Bullish
Winning Investing: Condition Green
Wishing Wealth: Up Trend
dshort.com: Invested (Note - monthly 10-EMA signal)
Click on Charts to Enlarge
- SP-500 Daily Chart for December 4, 2010
- SP-500 Daily Guppy Chart for December 4, 2010
