Weekly SP-500 Trend Commentary - 20121217

*** Status: Market Bearish – International Funds ***

Subscribe to our free newsletter here.  Bearish - Week 8

This week's postings are a bit late due to a very busy weekend. The SP-500 was down -0.41% for the week.  International Funds and some Sector Funds are at the top of the Rankings. Bond funds have actually moved down int the rankings. The general market trading filter I use (SP-500 53 day CCI) is now at -7 indicating Market Down, up from -9 last week. The composite SP-500 indicators on the daily chart remain Bullish with the CCI(53) composite Bullish, and the MACD composite Bullish.. The SP-500 is about at the 50 day moving average and still at the recent support/resistance at approximately 1420. The CCI indicators at the right give a good indication of the market indicating we're essentially in a mixed market.

The Guppy Plot for the SP-500 Index has moved to more of a Bullish state with the Fast Moving Averages moving above the Slow Moving Averages. The average slope of the Fast Moving Averages has turned positive and the average slope of the Slow Moving Averages has also turned positive - a good sign. The ADX components is slightly Bullish and the Stoch has moved up, but has now turned down again.

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 now have many international funds 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 - Mixed

AAII Sentiment:  43% Bullish / 27% Neutral / 30% Bearish

InvestorsIntelligence: 46% Bullish / 23% Bearish

Barchart: SP500: 0% Hold (last week 32% Buy)

Barchart QQQ: 80% Sell (last week 64% Hold)

Bulkowski: Neutral (CPI= 51% - last week 89%)

Buy-Don't Hold: Buy (3)

Consensus Traders: 62% Bullish (SPY)

Consensus Traders: 44% Bullish (QQQ)

Don’t Fear the Bear: 53% SPY; 47% TLT

Don't Fear the Bear: XIV (Alpha Model)

Keybot the Quant: Bullish (since 12/11/12)

MTRInvestorsMarket Timing Model: Market Up

MyPlanIQTrend Score: 5.23% (SPY 5.2% last week) 

10DMA New High - New Low Ratio: Bullish (see Chris Perruna for explanation)

NasdaqNew High - New Low Cumulative:  Bullish  (see recent post)

NYSENew High - New Low Cumulative:  Bullish (see recent post)

USStock New High - New Low Cumulative:  Bullish  (see recent post)

SP-100:  Untradable  (see dshort.com)

SP-500Bullish Percent Index (Renko): Bullish

SP-500Weekly MACD: Bearish (see StockCharts)

Stadion: Yellow

Stock TA (SPY): Neutral

Stock TA (QQQ): Neutral

TimelySetup: Bullish

Wishing Wealth: Buy (Current Signal); QQQ Uptrend

TheWizard SP-500: Very Bullish Bearish (Long Term Signal)

TheWizard Nasdaq: Less Bearish (Long Term Signal)

dshort.com: Invested (monthly SP-500 10-EMA signal)

Click on Charts to Enlarge

SP-500 Daily Chart for December 17, 2012

SP-500 Daily Guppy Chart for December 17, 2012