mybestfunds.com: Weekly SP-500 Trend Commentary

January 21, 2013

Weekly SP-500 Trend Commentary - 20130121

*** Status: Market Bullish – Sector Funds ***

Subscribe to our free newsletter here. Bullish - Week 3

The market continued it bullish stance with the the SP-500 was up an other 0.94% for the week. As such, Sector Funds with some International Funds are at the top of the Rankings. The general market trading filter I use (SP-500 53 day CCI) is now at +159 indicating Market Up, down slightly from +180 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 has moved above the 50 and 200 day moving averages and has moved through a recent support resistance level of 1466. The CCI indicators at the right give a good indication of the market indicating we're essentially now back in a bullish market.

The Guppy Plot for the SP-500 Index is back to a solid bullish state 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 also positive. The ADX components are now Bullish and the Stoch has moved 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.

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.