S&P500 Daily Analysis for Oct 31st

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• 1st time frame down trend remains intact.
• Another Japanese Candlestick Doji pattern denotes indecision - this down swing doesn't look too healthy, does it ?
  
• The market closed with neither bulls nor bears in control. The bears lacked the the commitment to close the market down near the lows but the bulls also lacked commitment.
  
• Once AGAIN, the former resistance area, marked in yellow, held as support yesterday. This continues to build as a significant area and should be watched very closely tomorrow. The support area, marked in green, below it, should also be watched.
  
• Triple MAs remain BULLISH.
  
• MACD histogram remains bearish.
• ST volatility has turned down having re-tested the resistance level marked in orange. This reflects the current ST consolidation happening in this market.
  

Dow 30 stocks - Daily Outperforming and Underperforming for Oct 30th

ST BULLISH
DD, DIS, MO, XOM

ST BEARISH
GE, PFE

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S&P500 Daily Analysis for Oct 30th

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• 1st time frame down trend remains intact.
• Japanese Candlestick Doji pattern denotes indecision and raises doubts about ability of current down swing to develop further.
  
• The market closed with neither bulls nor bears in control. The bears lacked the eagerness they had on the previous day and lacked the commitment to close the market down near the lows.
  
• The former resistance area, marked in yellow, held as support again yesterday. This is building as a significant area and should be watched very closely tomorrow. The support area, marked in green, below it, should also be watched.
  
• Triple MAs remain BULLISH.
  
• MACD histogram remains bearish.
• ST volatility has turned down having re-tested the resistance level marked in orange. The new swing may continue down or the market may consolidate as volatility comes off.
  
• Volume continues to come off with the new down swing - nothing unusual here.

Weekly Sector Strength for w/e Oct 27th

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Weekly Sector Strength for w/e Oct 27th

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Name	WEIGHTING
-Chemicals-	OVERWEIGHT
-Energy-	NEUTRAL
-Metals & Mining-	NEUTRAL
-Conglomerates-	NEUTRAL
-Consumer Durables-	NEUTRAL
-Consumer Non-Durables-	NEUTRAL
-Automotive-	OVERWEIGHT
-Food & Beverage-	NEUTRAL
-Tobacco-	NEUTRAL
-Banking-	NEUTRAL
-Financial Services-	OVERWEIGHT
-Insurance-	NEUTRAL
-Real Estate-	OVERWEIGHT
-Drugs-	NEUTRAL
-Health Services-	NEUTRAL
-Aerospace/Defense-	NEUTRAL
-Manufacturing-	NEUTRAL
-Materials & Construction-	NEUTRAL
-Leisure-	OVERWEIGHT
-Media-	OVERWEIGHT
-Retail-	NEUTRAL
-Specialty Retail-	OVERWEIGHT
-Wholesale-	NEUTRAL
-Diversified Services-	NEUTRAL
-Transportation-	NEUTRAL
-Computer Hardware-	OVERWEIGHT
-Computer Software & Services-	OVERWEIGHT
-Electronics-	NEUTRAL
-Telecommunications-	OVERWEIGHT
-Internet-	NEUTRAL
-Utilities-	OVERWEIGHT

S&P500 Daily Analysis for Oct 27th

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• 1st time frame changed to DOWN.
• The market closed with the bears keen, in control and committed.
• The former resistance area, marked in yellow, held as support yesterday. This area will be quite significant on Monday. The support area, marked in pink, below it, should also be watched.
  
• Triple MAs remain BULLISH.
  
• MACD histogram has turned down from above the zero line giving a short term bearish signal.
• ST volatility has turned down having re-tested the resistance level marked in orange. The new swing may continue down or the market may consolidate as volatility comes off.
  
• Volume is coming off with the new down swing - this is quite normal.

S&P500 Daily Analysis for Oct 25th

• 1st time frame UP trend remains intact.
• Nice range expansion validates the current up swing.
  
• The market closed with the bulls keen, eager, in control and committed.
• Watch the former resistance area, marked in yellow, as potential support if the market comes off. The support area, marked in orange, below it, should also be watched.
  
• Triple MAs remain BULLISH.
  
• MACD histogram remains bullish.
• ST volatility is still trending up - continues ST trending action. The marked resistance areas will come into play within the next few days. The market may either come off or consolidate if these areas are successfully tested as resistance.
  
• Volume has increased only moderately - as new swing highs are made. How strong are the bulls pushing this market along ? It's definitely not bearish.
  

Dow 30 stocks - Daily Outperforming and Underperforming for Oct 24th

ST BULLISH
BA, DD, GM, IBM, INTC, JNJ, KO, MCD, MMM, MO, MRK, T, WMT

ST BEARISH
CAT, GE PFE

S&P500 Daily Analysis for Oct 24th

• 1st time frame UP trend remains intact.
• Range contraction suggests that the bulls are not as eager as previous and the current up swing may be in danger.
  
• When the market closed the bulls were slightly keener than yesterday and, although the bulls failed to dominate trading, the bears lacked commitment and certainly had no control of the market.
• There was moderate upside price rejection from the former resistance area, marked in yellow. This area will be an important support area in the near future as will the support area, marked in orange, below it.
  
• Triple MAs remain BULLISH.
  
• MACD histogram remains bullish.
• ST volatility is still trending up - ST trending action.
  
• Volume has increased only moderately - could this be the 'strong hands' delivering stock to the 'weak hands' ? I'm not so sure - I'd like to see slightly higher volume.
  

S&P500 Daily Analysis for Oct 23rd

• 1st time frame UP trend remains intact.
• Extremely bullish day with good range extension.
  
• When the market closed the bulls were keen, eager, in control and committed.
  
• Triple MAs remain BULLISH.
  
• MACD histogram has given a BUY signal.
• ST volatility has tested the long term significant lowly support area and is now trending up - ST trending action.
  
• Volume has decreased slightly as swing highs were made - better if volume increases as highs made.
  

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Dow 30 stocks - Daily Outperforming and Underperforming for Oct 20th

ST BULLISH
GM, HPQ, IBM, JNJ, KO, MMM, MRK, T, XOM

ST BEARISH
CAT

S&P500 Daily Analysis for Oct 20th

• 1st time frame UP trend remains intact.
• Borderline outside day denotes indecision within this market.
  
• When the market closed the bulls were in control and slightly keener than the bears. Once again, for the fourth day in a row, the bears lost any commitment they had earlier in the day with the bulls showing some moderate level of commitment.
  
• Triple MAs remain BULLISH.
  
• MACD histogram remains ST bearish.
• ST volatility has tested the long term significant lowly support area. It looks as though volatility will, once again, bounce off this area. Look for ST trending action to begin very soon - most likely to the upside.
  
• Volume remained relatively flat within the larger congestion area.
  
• The previous resistance area (marked in yellow on the chart) continues to act as support. It remains a significant area which should be watched closely if the market attempts to break to the downside.

Dow 30 stocks - Daily Outperforming and Underperforming for Oct 19th

ST BULLISH
HPQ, IBM, JNJ, MRK, T, XOM

ST BEARISH
None

S&P500 Daily Analysis for Oct 19th

• 1st time frame UP trend remains intact.
• Inside day denotes indecision within this market.
  
• When the market closed the bulls were in control and slightly keener than the bears. The bears lost any commitment they had earlier in the day with the bulls showing some moderate level of commitment.
  
• Triple MAs remain BULLISH.
  
• MACD histogram has turned down giving a ST bearish signal - tighten stops.
• ST volatility continues to come off, reflecting the ST congestion. The previous strong support area is now being tested. We would expect volatility to pick up and ST trending action to continue very soon.
  
• Volume decreased slightly but doesn't seem to be too significant.
  
• Watch for the previous resistance area (marked in yellow on the chart) to continue to act as support if the market sells off. It remains a significant area.

Dow 30 stocks - Daily Outperforming and Underperforming for Oct 18th

ST BULLISH
HPQ, IGM, JNJ, MRK, MSFT, XOM

ST BEARISH
HD, JPM, KO, VZ

S&P500 Daily Analysis for Oct 18th

• New 1st time frame UP trend.
• Japanese candlestick Spinning Top pattern - denotes indecision.
  
• Bulls were slightly keener on the day but neither bulls nor bears closed the day in control or showed any commitment.
  
• Triple MAs remain BULLISH.
  
• MACD histogram has turned down giving a ST bearish signal - tighten stops.
• ST volatility continues to come off, reflecting the ST congestion. Should find support soon, after which we would expect volatility to pick up and ST trending action to continue.
  
• Volume increased with a new 1st time frame up trend but on an indecisive day - not very significant.
  
• Watch for the previous resistance area (marked in yellow on the chart) to continue to act as support if the market sells off. It is quite a significant area.

Dow 30 stocks - Daily Outperforming and Underperforming for Oct 17th

ST BULLISH
CAT, HPQ, IBM, MCD, MMM, MRK, MSFT, XOM

ST BEARISH
HD, KO

S&P500 Daily Analysis for Oct 17th

• New 1st time frame DOWN trend.
• Bears were keener on the day but, importantly, lost control of the market and lacked the commitment to close down near the lows for the day, as evidenced by the long tail on the candle.
  
• Triple MAs remain BULLISH.
  
• MACD histogram has turned down giving a ST bearish signal - tighten stops.
• ST volatility coming off after it tested a previous minor resistance level - expect ST consolidation or a pullback.
  
• Volume increased as the market sold off - ST slightly bearish.
  
• There was SIGNIFICANT upside price rejection from the previous resistance area (marked in yellow on the chart). Watch this area to continue to act as support over the next few days if the market maintains a bearish tone. It will be quite significant if this area is broken to the downside.
  

Dow 30 stocks - Daily Outperforming and Underperforming for Oct 16th

ST BULLISH
AXP, CAT, HON, HPQ, IBM, INTC, MCD, MRK, MSFT, UTX, XOM

ST BEARISH
AA, KO

S&P500 Daily Analysis for Oct 16th

• 1st time frame UP trend remains intact.
• Bulls are still keen, in control and committed but have lost a little eagerness as evidenced by the small range contraction.
  
• Triple MAs remain BULLISH.
  
• MACD histogram has turned down giving a ST bearish signal - tighten stops.
• ST volatility trending up after making a cyclical trough - ST trending action. It seems that there may be a day or two left in this rally. Watch for resistance area.
  
• Volume continues to come off as new highs made - slightly bearish. A bit more worrying now as it is three days in a row.
  
• Watch the support at the previous resistance area (marked in yellow on the chart) if the market comes off.
• Bigger action today seemed to be in the smaller cap stocks - they now seem to be catching up. Does this flag that the rally will end soon ?
  

Dow 30 stocks - Daily Outperforming and Underperforming for Oct 13th

ST BULLISH
AXP, CAT, HPQ, IBM, INTC, MCD, MRK, MSFT, T

ST BEARISH
AA, KO, PFE

S&P500 Daily Analysis for Oct 13th

• 1st time frame UP trend remains intact.
• Large contraction in range raises some doubt about the viability of the current up swing.
  
• Market closed with bulls keen, eager, in control and committed. Bears lost control during the day.
  
• Triple MAs remain BULLISH.
  
• MACD histogram remains BULLISH.
• ST volatility trending up after making a cyclical trough - ST trending action. Watch for resistance area.
  
• Volume continues to come off as new highs made - slightly bearish but no real cause for concern as volume only came off marginally.
  
• Watch the support at the previous resistance area (marked in yellow on the chart) if the market comes off.

Dow 30 stocks - Daily Outperforming and Underperforming for Oct 12th

ST BULLISH
AXP, CAT, DD, HPQ, INTC, JPM, MCD, MSFT, T, UTX

ST BEARISH
AA, GM, KO, PFE, WMT

S&P500 Daily Analysis for Oct 12th

• New 1st time frame UP trend.
• Japanese Candlestick White Opening Marubozu pattern - extremely bullish.
  
• Market closed with bulls keen, eager, in control and committed.
  
• Triple MAs have changed back to BULLISH.
  
• MACD histogram BUY SIGNAL.
• ST volatility trending up after making a cyclical trough - ST trending action.
  
• Volume neutral on extremely bullish day - no real cause for concern.
  
• Watch the support area (marked in yellow on the chart) if the market comes off.

Dow 30 stocks - Daily Outperforming and Underperforming for Oct 11th

ST BULLISH
AXP, CAT, DD, GE, INTC, JPM, MCD, MMM, T, UTX

ST BEARISH
AA, GM, KO, PFE

S&P500 Daily Analysis for Oct 11th

• New 1st time frame down trend.
• Bears closed the day keener but lacked the control and commitment to close near the lows. Neither bulls nor bears had control at the end of the trading day.
  
• Triple MAs have changes to NEUTRAL. Traders should consider taking some profits or raising stops.
  
• MACD histogram continues down from above the zero line - no buy signal , yet.
• ST volatility coming off - reflects the current ST congestion but look for volatility to pick up after this cyclical trough. This will result in trending action, most likely to the upside.
  
• Volume continued up on a moderately bearish to neutral day.
  
• Once again there was upside price rejection from the support area (marked in yellow on the chart). This area must be watched closely because a downside break could be quite significant for this market.

S&P500 Daily Analysis for Oct 10th

• New 1st time frame up trend.
• Bulls closed the day keen, in control and committed.
  
• Triple MAs remain BULLISH.
  
• MACD histogram continues down from above the zero line - no buy signal , yet.
• ST volatility coming off - reflects the current ST congestion but look for volatility to pick up after this cyclical trough. This will result in trending action, most likely to the upside.
  
• Volume has picked up in a fairly bullish market.
  
• The resistance (marked in blue on the chart) needs to be taken out convincingly in the next day or two for this market to go on with it. Interestingly, the market could not CLOSE above the resistance.
  

Dow 30 stocks - Daily Outperforming and Underperforming for Oct 9th

ST BULLISH
AXP, BA, C, CAT, DD, DIS, GE, HD, HON, MCD, MMM

ST BEARISH
PFE

S&P500 Daily Analysis for Oct 9th

• Inside day raises doubt about viability of current down swing.
• Japanese Candlestick Spinning Top pattern - denotes indecision in the market.
  
• Bears closed the day slightly keener but they lost some of the control and commitment they had earlier in the day.
  
• Triple MAs remain BULLISH.
  
• MACD histogram continues down from above the zero line - reflects the current ST pullback.
• ST volatility coming off - reflects the current ST congestion/small pullback.
  
• Volume coming off as down swing develops - this is quite normal.
  
• Upside price rejection from former resistance area (marked in yellow on chart). This area is significant for this market in the short term, so market action near this area should be watched closely.

S&P100 Wkly Bullish Stocks Portfolio w/e Oct 6th

Ticker	Date/Time	Name	Close	BuyPrice	BoughtWeeksAgo	PctP/L
AIG	06-Oct-06	American Internat Group	67.02	66.26	1	1.15
ALL	06-Oct-06	Allstate Corporation	63.15	59.06	4	6.93
AMGN	06-Oct-06	Amgen Inc	74.01	69.77	3	6.08
AXP	06-Oct-06	American Express Co	56.59	56.08	1	0.91
CI	06-Oct-06	Cigna Corp	117.73	115.26	3	2.14
CMCSA	06-Oct-06	Comcast Corp Cl A	37.13	35.12	2	5.72
CSCO	06-Oct-06	Cisco Systems Inc	24.09	21.05	6	14.44
GD	06-Oct-06	General Dynamics Corp	75.36	75.36	0	0
GS	06-Oct-06	Goldman Sachs Group Inc	175.65	162.71	3	7.95
HPQ	06-Oct-06	Hewlett-Packard Co	37.72	36.69	1	2.81
INTC	06-Oct-06	Intel Corp	20.63	20.57	1	0.29
LEH	06-Oct-06	Lehman Brothers Holdings Inc	74.66	73.86	1	1.08
MCD	06-Oct-06	Mcdonalds Corp	40.11	36.76	5	9.11
MER	06-Oct-06	Merrill Lynch & Co	81.46	77.16	3	5.57
MS	06-Oct-06	Morgan Stanley	74.41	70.95	3	4.88
MSFT	06-Oct-06	Microsoft Corp	27.87	26.85	3	3.8
ORCL	06-Oct-06	Oracle Corporation	18.19	15.91	4	14.33
RSH	06-Oct-06	Radioshack Corp	20.2	18.1	4	11.6
RTN	06-Oct-06	Raytheon Co	49.12	49.12	0	0
SLE	06-Oct-06	Sara Lee Corp	16.49	16.07	1	2.61
TGT	06-Oct-06	Target Corporation	58.55	53.64	3	9.15
TWX	06-Oct-06	Time Warner Inc	18.78	17.73	2	5.92
VZ	06-Oct-06	Verizon Communications	36.8	34.42	7	6.91
XRX	06-Oct-06	Xerox Corp	15.68	15.29	2	2.55

Dow 30 stocks - Daily Outperforming and Underperforming for Oct 6th

ST BULLISH
AIG, BA, C, DD, DIS, GE, HD, HON, HPQ, MCD, MMM, MSFT

ST BEARISH
None.

• New 1st time frame down trend.
  
• Bears closed the day keener but lost the control and commitment they had earlier in the day.
  
• Triple MAs remain BULLISH.
  
• MACD histogram has turned down from above the zero line - expect a pullback.
• ST volatility testing previous resistance area - if it holds expect ST pullback or congestion. If it breaks, the ST trending action should continue.
  
• Volume coming off as new down swing develops - this is quite normal.
  
• Upside price rejection from former resistance area (marked in yellow on chart). This area is significant for this market in the short term, so market action near this area should be watched closely.
  

Dow 30 stocks - Daily Outperforming and Underperforming for Oct 5th

ST BULLISH
AIG, AXP, BA, GE, HD, HON, HPQ, MMM, MSFT, UTX

ST BEARISH
AA

S&P500 Daily Analysis for Oct 5th

• Very significant range contraction signifies that the bears are not as eager as previous and it casts doubt about the viability of the current up swing.
• Bulls closed the day keen, in control and committed but not as keen or eager as the previous day.
  
• Triple MAs remain BULLISH.
  
• MACD histogram remains BULLISH.
• ST volatility testing previous resistance area - if it holds expect ST pullback or congestion. If it breaks, the ST trending action should continue.
  
• Volume has come off slightly as new swing high made - signifies that up swing may be in danger.
  
• Watch former resistance area (marked in yellow on chart) to act as support if market retraces.

• Japanese Candlestick bullish Marubozu pattern - very bullish.
• Bulls closed the day keen, eager, in control and committed.
  
• Triple MAs are BULLISH.
  
• MACD histogram has given a BUY signal.
• ST volatility now trending up from support at low levels - expect to see ST trending action.
  
• Volume continued to increase on a very bullish day.
  
• Resistance taken out in a convincing manner (marked in red on chart).

Dow 30 stocks - Daily Outperforming and Underperforming

ST BULLISH
AIG, AXP, BA, GE, GM, HD, HON, HPQ, INTC, JNJ, JPM, MCD, MRK, MSFT, WMT

ST BEARISH
AA, XOM

S&P500 Daily Analysis

• Japanese Candlestick bullish Harami pattern.
• Outside day denotes indecisiveness and has potential ramifications for the current down swing.
  
• Bulls closed the day keener than bears but lost some of the commitment they had earlier in the day.
  
• Triple MAs are NEUTRAL but expect a bullish signal soon.
  
• MACD histogram remains down - no bullish signal yet.
• ST volatility has found support at low levels reflecting the current pullback - expect volatility to pick up from here. This will lead to ST trending action, most likely, at the moment, to the upside.
  
• Volume has begun to increase on a fairly bullish day.
  
• Good upside price rejection following the test of the previous resistance area around 1328 (marked in yellow on chart).