QQQQ Trend analysis and technical indicators

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Stock Market Trend Analysis Newsletter.

The Stock Market Week - 7/24/2009

It was an up week for the major markets. The Standard & Poor's 500 Index reached 979.8, the highest level since November 5th 2008. For the week the Dow Jones Industrial Average gained 349.30 points or 3.99%. The Standard & Poor's 500 Index gained 38.88 points or 4.13%, while the Nasdaq Composite gained 79.35 points or 4.21%.

The Materials sector was the strongest sector (8.04%) last week followed by the Energy sector (5.66%). The Financial sector was the worst performing sector (2.31%) of the week followed by the Consumer Staples sector (2.51%).

The Basic Materials sector is the most overvalued sector followed by Technology, while Security Software & Svcs, Personal Computers, and Diversified Computer Sys are among the most overvalued industries. The Services sector is the most oversold sector followed by Healthcare, while Food Wholesale, Drugs Wholesale, and Electronics Stores are among the most oversold industries.

Weekly S&P 500 Winners

Gains/Loses(%)	Symbol	Company	Sector
10.23%	RSH	RadioShack Corp.	Consumer Discretionary
10.11%	BDK	Black & Decker Corp.	Consumer Discretionary
9.72%	PLD	ProLogis	Financials

Weekly S&P 500 Loosers

Gains/Loses(%)	Symbol	Company	Sector
-8.26%	MSFT	Microsoft Corp.	Information Technology
-6.79%	BRCM	Broadcom Corporation	Information Technology
-5.50%	FII	Federated Investors Inc.	Financials

Weekly S&P 500 Alerts

Stock Market Alerts	Count
Downtrend Exhaustion	0
Downtrend Broken Resistance	5
Uptrend Support	2
Uptrend Exhaustion	19
Uptrend Broken Support	0
Downtrend Resistance	27
Oversold	1
Overbought	109

Standard & Poor's 500 Index Trend Analysis

In our previous publication on June 7th we wrote:

132 out of S&P 500 members have an Uptrend Support alert. If support holds and price does not breakdown the neckline, the uptrend may resume and we may see S&P above the 1000 mark pretty soon.

The Standard & Poor's 500 Index gained more than 12.7% since July 8th, and almost 47% since March 6th, reaching 979.8 on Friday, the highest level since November 5th, 2008. Daily Lane's Stochastic, Williams' % Range and Relative Strength Index are overbought/strongly overbought for all three major US indices. Weekly Williams' % Range is strongly overbought, signaling that market is moving too fast in a weekly time frame as well; and the rally may not be sustainable for a long period. 109 out of S&P 500 members are overbought, 51 stocks have daily MACD bearish divergence, indicating that the rally is already slowing down. The next resistance level for S&P 500 index is around 993. Considering overbought technical indicators, it would be difficult to break this resistance level; and chances are high that the stock market trend may reverse soon.

Standard & Poor's 500

Presented by www.thegreedytrader.com Research Group.

S&P 500 members - Trend Support Alert

Daily and weekly indicators are oversold for all three major US indices. More than 28% of S&P members are oversold, and more than 22% have a Trend Support Alert.

Jul 4 , 2010

S&P 500 members - Downtrend Resistance alert

More than 60 S&P members have the Downtrend Resistance Alert. Daily Williams' Percentage Range and Lane's Stochastic are strongly overbought.

Jun 20, 2010

S&P 500 members - uptrend support alert

More than 30% of S&P 500 members have an uptrend support alert. This alert indicates that stock price is near the monthly uptrend support level.

May 23, 2010

Dow Jones Elliott Wave count

Dow Jones gained 68.03% in 53 weeks. The chart has formed a Rising Channel chart pattern. Fifth wave up is in progress.

Mar 21, 2010

NASDAQ at the highest level since September 2008

NASDAQ medium-term trend has formed a five-wave structure. The fifth wave is in progress now. The price is near the trend resistance line (2331.43).

Mar 5 , 2010

Is Dow Jones going above January high soon?

Dow Jones has advanced above the 50 Day Moving Average. MACD line has moved above its signal line. Both crossovers are considered as bullish signals.

Feb 19, 2010

The Dow Jones has formed a falling channel pattern

The Dow Jones lost 932.06 points, or 8.66%, since January 14. The downtrend has formed a falling channel pattern.

Feb 7 , 2010

The Dow Jones short-term down trend is near the support line

The Dow Jones is near the support line. Daily technical indicators are oversold. Almost 20% of S&P 500 members have an uptrend support alert.

Jan 31, 2010

S&P 500 has crossed below the 50 Day Moving Average

S&P MACD line has moved below its signal line; the price has crossed below the 50 Day MA and has closed below the lower Bollinger Band.

Jan 24, 2010

The Christmas rally has pushed the stocks ahead

The trend following indicators have turned bullish, while almost 20% of S&P 500 members are overbought.

Dec 25, 2009

Technical indicators caused a sharp stock market sell off

Strong resistance caused a sharp stock market sell off. The S&P 500 index has lost 3.3% in two days.

Sep 27, 2009

S&P 500 is forming a rising wedge pattern

S&P 500 is forming a rising wedge chart pattern. The next up leg could reach the resistance around 1075 in October.

Sep 6 , 2009

All three major US indices are overbought

109 out of S&P 500 members are overbought, 51 stocks have daily MACD bearish divergence.

Jul 25, 2009

S&P 500 - head and shoulders pattern

The S&P 500 has an Uptrend Exhaustion alert. Chart has formed the head and shoulders pattern. Price is near the neckline.

Jul 12, 2009

S&P 500 - Uptrend Exhaustion alert

The S&P 500 index has an Uptrend Exhaustion alert. The next resistance level is near 1044. The support is near 470.

Jun 7 , 2009

S&P 500 - downtrend resistance alert

The S&P 500 index has a downtrend resistance alert. The weekly ABC zigzag pattern is almost completed. Resistance is near 944.

May 10, 2009

The upside potential is limited

The S&P 500 upside potential is limited and chances are high that price will turn down soon. The support is near 805.

May 3 , 2009

S&P 500 chart has formed the broadening wedge

S&P 500 chart has formed the broadening descending wedge. The uptrend may pause for a while to reset technical indicators.

Mar 29, 2009

S&P 500 chart wave analysis

S&P 500 chart wave analysis and technical indicators suggest that the downtrend might be close to completion with the target around 650.

Feb 22, 2009

S&P 500 is forming a triangle pattern

Since mid October the S&P 500 is forming a horizontal expanding triangle pattern. The support is near 600, and resistance around 959

Jan 19, 2009

S&P 500 resistance is near 965

S&P 500 resistance is near 965 now and the support is near 738. S&P may turn down to retest the support line once more.

Nov 30, 2008

S&P 500 technical indicators have bullish divergence

S&P 500 technical indicators have bullish divergence. It is usually considered as an indicator that bears are losing power.

Nov 14, 2008

Major indices have formed a triangle chart pattern

All three major indices have formed a triangle pattern. Usually, in a mature trend a it is considered as a reversal pattern.

Oct 12, 2008

Bear market technical indicators

According to the technical indicators, the sharp market down wave might be close to completion.

Oct 12, 2008

Bear market statistics

Average length of a bear market - 18.5 months (current - 12). Average bear market decline - 36% (current - 28%).

Oct 5 , 2008

Major indices posted the biggest gains since 2002

The Dow Jones, S&P 500 and Nasdaq have posted the biggest gains since October 11, 2002 in two consecutive trading sessions.

Sep 19, 2008

Dow - head and shoulders pattern

Dow Jones long-term chart has formed a head and shoulders pattern. After retesting the neckline Dow has resumed the long-term downtrend.

Sep 7 , 2008

Nasdaq is forming a triangle chart pattern

Nasdaq is forming a triangle chart pattern. It usually represents an area of indecision, where the direction of the movement is questioned.

Aug 17, 2008

S&P 500 has formed a Bearish Advance Block pattern

The down trend might not be completed yet, and it may resume soon. On Friday, S&P 500 Index has formed a Bearish Advance Block candlestick pattern.

Jul 20, 2008

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Warning: TheGreedyTrader.com 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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