The Greedy Trader Weekly Analysis
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Stock Market Trend Analysis Newsletter.

The Stock Market Week - 6/5/2009

It was an up week for the major markets. For the week the Dow Jones Industrial Average gained 262.80 points or 3.09%. The Standard & Poor's 500 Index gained 20.95 points or 2.28%, while the Nasdaq Composite gained 75.09 points or 4.23%.

The Industrial sector was the strongest sector (5.51%) last week followed by the Technology sector (3.91%). The Health Care sector was the worst performing sector (-0.15%) of the week followed by the Financial sector (0.74%).

The Consumer Goods sector is the most overvalued sector followed by Technology, while Meat Products, Beverages-Brewers, and Technical/System Software are among the most overvalued industries. The Services sector is the most oversold sector followed by Utilities, while Education & Training Services, Personal Services, and Regional Airlines are among the most oversold industries.

Weekly S&P 500 Winners
Gains/Loses(%) Symbol Company Sector
5.98% GT Goodyear Tire & Rubber Consumer Discretionary
5.97% FLIR FLIR Systems Inc. Information Technology
Weekly S&P 500 Loosers
Gains/Loses(%) Symbol Company Sector
-7.39% CIEN Ciena Corp. Information Technology
-6.63% HOG HarleyDavidson Consumer Discretionary
-6.01% LEN Lennar Corp. Consumer Discretionary
Standard & Poor's 500 Index Trend Analysis
On Friday, June 5th Standard & Poor's 500 indices reached 951.69 making the 28 weeks' high. Index has gained almost 43% since March's low (666.78). Technical indicators show that this rate of growth may not be sustainable. All three major US indices are strongly overbought in daily and weekly time frames. Standard & Poor's 500 and Dow Jones have MACD Bearish Divergence. Almost 30% of S&P 500 members are overbought, and more than 10% are near the resistance level, while almost 20% have daily MACD Bearish Divergence.

S&P and Nasdaq have an Uptrend Exhaustion alert. This alert indicates that the uptrend is exhausted and the trend is about to reverse. The next S&P resistance level is near 1044, but chances are high that S&P may not reach this level soon. The support is near 470.
Standard & Poor's 500
Technical Stock Market Timing System
On Friday 35 members of S&P 500 index had a Bearish Dark Cloud Cover candlestick pattern. The Dark Cloud Cover pattern occurs often in a strong uptrend. This pattern is considered as an indication of a future bearish trend. It is more reliable when confirmed by other technical indicators, such as bearish divergence. The Dark Cloud Cover often occurred when there is still too much bullish force for the stock to decline sharply. On the other hand, it is recommended to set a tight stop.

Presented by Research Group.

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S&P 500 is close to the 50 Day Moving Average
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Oct 17, 2010
More than a half of S&P 500 members are overbought
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S&P 500 members - Trend Support Alert
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Jul 4 , 2010
S&P 500 members - Downtrend Resistance alert
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Jun 20, 2010
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May 23, 2010
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Jan 31, 2010
S&P 500 has crossed below the 50 Day Moving Average
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Jan 24, 2010
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Dec 25, 2009

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Warning: presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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