*** Status: Market Bearish – Bond or Short Funds ***
This week we continue the downward trend in the market finding support at the 200 day MA which also coincided with a major support area at about 1255. The general market trading filter I use (SP-500 53 day CCI) moved down to -163 indicating Market Down which is up from -223 last week. My multiple composite SP-500 indicators on the daily chart are now both bearish with the Blau Ergodic Composite Indicator and the MACD composite indicating a down trend. The SP-500 index is down ~7.2% from the recent May high of 1370. The CCI(53) indicators on the right on this page show are all bearish except for the IEF bond fund.
The Guppy Plot
for the SP-500 is now fully Bearish, with the Fast moving averages now below the Slow moving averages. As well as the moving averages fully crossed within the Fast and Slow MA groups (indicated by red and orange coloring). The average slopes of the two sets of averages are both negative. The ADX components are bearish and the Stoch is low.
for the SP-500 is now fully Bearish, with the Fast moving averages now below the Slow moving averages. As well as the moving averages fully crossed within the Fast and Slow MA groups (indicated by red and orange coloring). The average slopes of the two sets of averages are both negative. The ADX components are bearish and the Stoch is low.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.
Rankings:
This week's Rankings continue to show Bond Funds and Short Funds on top. 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.
Disclosure:
None
What Others are Saying (all free sites): Overall Bearish
AAII Sentiment: 29% Bullish / 28% Neutral / 43% Bearish
Bulkowski: Neutral (CPI= 60% last week 0%)
Consensus Traders: 11% Bullish / 17% Neutral / 72% Bearish (SPY)
INO.com: Very Weak Downtrend (SPY)
MTR Investors Market Timing Model: Market Down
Pattern Trapper: Bearish (SPY)
Stock TA (SPY): Bearish
Stock Trends: Weak Bullish
TopStock Portfolios: Neutral
Wishing Wealth: Down Trend
Click on Charts to Enlarge
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| SP-500 Daily Chart for June 18, 2011 |
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| SP-500 Daily Guppy Chart for June 18, 2011 |
