*** Status: Market Bullish – Sector Funds ***
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The market continued it bullish move with the the SP-500 up another 1.14%% for the week, crossing 1500 a level not seen since late 2007. As such, Sector Funds are at the top of the Rankings. The general market trading filter I use (SP-500 53 day CCI) is now at +157 indicating Market Up, down slightly from +159 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 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.
This week's Rankings now have sector 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 - Bullish
AAII Sentiment: 52% Bullish / 23% Neutral / 24% Bearish
InvestorsIntelligence: 53% Bullish / 22% Bearish
Barchart: SP500: 80% Buy (80% Buy last week )
Barchart QQQ: 40% Buy (56% Buy last week )
Bulkowski: Bullish (CPI= 92%; 90% last week)
Buy-Don't Hold: Buy (3)
Consensus Traders: 69% Bullish (SPY)
Consensus Traders: 59% Bullish (QQQ)
Don't Fear the Bear: Cash (Alpha Model)
Keybot the Quant: Bullish (since 1/1/2013)
MTRInvestorsMarket Timing Model: Market Up
MyPlanIQTrend Score: 8.37% (6.77% SPY ast week)
Stock TA (SPY): Bullish
Stock TA (QQQ): Bullish
Wishing Wealth: Buy (Current Signal); QQQ Uptrend
TheWizard SP-500: Very Bullish (Long Term Signal)
TheWizard Nasdaq: Very Bullish (Long Term Signal)
dshort.com: Invested (monthly SP-500 10-EMA signal)
Click on Charts to Enlarge
|SP-500 Daily Chart for January 27, 2013|
|SP-500 Daily Guppy Chart for January 27, 2013|