U.S. stock market price indexes opened at new highs but quickly reversed to close mostly lower and near their lows of the day. The S&P 500 Composite Index (SPX: 1,692.39) fell 0.19% and formed a Bearish Engulfing Candlestick.

NYSE total volume rose 14%. Rising volume on a price move confirms the direction (up or down) of that price move, but falling volume may indicate diminishing power behind that move, which can suggest a price reversal ahead.

The Cumulative Up-Down Volume Line and the Cumulative Daily Advance-Decline on the NYSE both rose again and now are testing their May highs. The Net Number of New Highs-Lows remains far below its May high, thereby diverging bearishly.
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Stock Market Indicators

The Dow Theory reconfirmed a Primary Tide Bull Market on 7/18/13, when the Dow-Jones Industrial Average and the Dow-Jones Transportation Average both closed at new price highs.

NASDAQ 100/S&P 500 Relative Strength Ratio (QQQ/SPY) turned systematically bearish again (from neutral) on 7/19/13, when it crossed back down below its own 50-day SMA. QQQ/SPY has underperformed since it peaked on 4/10/12.

iShares MSCI BRIC Fund (BKF) Relative Strength Ratio (BKF/SPY) fell below the lows of the previous 4 years on 7/10/13, again reconfirming its major downtrend. BKF/SPY turned systematically bearish on 3/27/13, when the 50-day SMA crossed below the 200-day SMA. BKF/SPY fell below its 50-day SMA on 2/4/13 and fell below its 200-day SMA on 2/19/13. BKF/SPY has underperformed since the ratio peaked on 10/14/2010. Price peaked at 42.29 on 2/1/13 and fell to a 20-month low on 6/24/13.

Emerging Markets Stocks ETF (EEM) Relative Strength Ratio (EEM/SPY) fell below the lows of the previous 4 years on 7/10/13, again reconfirming its preexisting major downtrend. EEM/SPY turned systematically bearish on 3/20/13, when the 50-day SMA fell below the 200-day SMA. EEM/SPY has underperformed since the ratio peaked on 10/14/2010. Absolute price peaked at 45.34 on 1/2/13 and fell to a 19-month low on 6/24/13, confirming its bearish major trend.

Foreign Stocks ETF (EFA) Relative Strength Ratio (EFA/SPY) fell below the lows of the previous 10 years on 7/9/13, again reconfirming its preexisting major downtrend. EFA/SPY has underperformed since the ratio peaked on 11/27/2007. Absolute price peaked at 64.14 on 5/22/13 and fell to a 6-month low on 6/24/13, confirming a significant downtrend.

The Largest Cap S&P 100/S&P 500 Relative Strength Ratio (OEF/SPY) remains systematically bearish. OEF/SPY has been in a down trend since 9/24/12. Large Caps tend to outperform in bearish general market trends as investors seek the perceived relative stability and safety of large size. On the other hand, Large Caps tend to underperform Mid Caps and Small Caps in bullish general market trends as investors seek greater potential returns in more volatile, smaller stocks.

The Small Cap Russell 2000 Index/Large Cap Relative Strength Ratio (IWM/SPY) remains systematically bullish. IWM/SPY has been rising since 5/1/13. Longer term, IWM/SPY has underperformed since the ratio peaked on 4/5/11. Absolute price crossed back above its 50-day SMA on 6/27/13, thereby turning systematically bullish (from neutral).

The S&P Mid Cap 400/Large Cap Relative Strength Ratio (MDY/SPY) remains systematically bullish. MDY/SPY has been rising since 6/21/13. Longer term, MDY/SPY has underperformed slightly since the ratio peaked on 4/5/11. Absolute price crossed back above its 50-day SMA on 7/5/13, thereby turning systematically bullish (from neutral).
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Tangible Assets, Commodities

U.S. dollar ETF (UUP) whipsawed back down below its 50-day SMA on 7/16/13, thereby turning systematically neutral again (from bullish). Longer term, UUP has been consolidating secular trend losses since bottoming at 20.84 on 5/4/11. Support 22.38, 21.82, 21.53, 21.07, and 20.84. Resistance 22.98, 23.14, 23.52, 25.84, 27.19, and 28.97.

Agriculture, PowerShares DB Agriculture Fund ETF (DBA) price fell below its lows of the past 2 years on 7/5/13 and remains systematically bearish. Price has been trending down since peaking on 3/4/11.

Crude Oil, United States Oil ETF (USO) price remains in a bullish trend. Support 36.88, 32.53, 32.12, 30.79, 29.02, 26.28, and 22.74. Resistance 40.29, 41.38, 42.30, and 45.60.

Gold, SPDR Gold Shares ETF (GLD) price trend turned systematically neutral (from bearish) on 7/23/13 when price rose above its 50-day SMA. In June, price fell below its lows of the previous 2 years on 6/28/13, thereby reconfirming its preexisting major bearish trend. GLD has been trending down since peaking at 185.85 on 9/6/11. Support: 114.68, 113.08 and 102.28. Resistance: 137.62, 143.43, 149.44, 153.85, 156.80, 164.40, 166.94, 170.01, 174.07, 175.46, 177.40, and 185.85.

Gold Mining Stocks ETF/Gold Shares ETF Relative Strength Ratio (GDX/GLD) has stayed systematically bearish most of the time since 12/27/12, when the 50-day SMA crossed below the 200-day SMA. Longer term, GDX/GLD has remained mostly bearish for more than 6 years, since 9/5/06.

Silver, iShares Silver Trust ETF (SLV) price trend remains systematically bearish. Price fell below its lows of the previous 2 years on 6/27/13, again reconfirming its preexisting major bearish trend. The trend has been bearish since price peaked at 48.35 on 4/28/11. Support 17.75, 16.73, 14.37, 12.27, 11.64, and 8.45. Resistance: 20.53, 22.65, 23.70, 25.34, 27.14, 27.35, 28.50, 28.61, 29.73, 31.41, 32.72, 33.31, 34.08, 36.44, 40.23, 41.49, 42.30, 42.78, 44.71, and 48.35.

Silver/Gold ETFs Ratio (SLV/GLD) fell below its lows of the previous 2 years on 7/19/13, again reconfirming its major downtrend. SLV/GLD remains systematically bearish. SLV has underperformed GLD since SLV price peaked at 48.35 on 4/28/11.

Copper, iPath DJ-UBS Copper TR Sub-Index ETN (JJC) fell below its lows of the previous 2 years on 6/24/13, again reconfirming its major downtrend. The JJC price trend has been bearish since price peaked at 61.69 on 2/14/11. “Dr. Copper” is widely accepted as one of the better indicators of investor confidence (or lack thereof) in the global industrial economy, so price weakness in Copper implies a weak economic outlook.
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Spotlight on event stocks: Here is a stock screen I designed to pick out potential event stocks, both Bullish and Bearish. Sometimes, stocks with large changes in price and volume are later revealed to be deal stocks or are the subject of some other extraordinary events, positive or negative.

Bullish Stocks: Rising Price and Rising Volume
Ranked by Price Change * Volume Change
% Price Change, Symbol, Name

10.19% , MTG , MGIC INVESTMENT
5.38% , LXK , LEXMARK INTL STK A
0.49% , EZU , EMU Europe Index, EZU
4.04% , TXN.O , TEXAS INSTRUMENT
4.13% , CLF , CLIFFS NATURAL RESOURCES, CLF
4.38% , X , US STEEL CORP
0.60% , PPA , Aerospace & Defense, PPA
2.61% , XME , Metals & Mining SPDR, XME
2.75% , FXI , China 25 iS, FXI
1.96% , LMT , LOCKHEED MARTIN
2.95% , UTX , UNITED TECH
2.46% , ABT , ABBOTT LABS
3.52% , HOLX , Hologic, Inc., HOLX
1.94% , ATI , ALLEGHENY TECH
1.38% , ISIL , INTERSIL CORP
0.21% , EWC , Canada Index, EWC
2.61% , CROX , CROCS Inc., CROX
1.14% , FRX , FOREST LABS STK A
2.88% , FCX , FREEPRT MCMORAN STK B
4.71% , SIL , Silver Miners Global X, SIL
1.16% , NTRS , NORTHERN TRUST
0.66% , LLL , L-3 COMMS HLDGS
0.84% , HSY , HERSHEY FOODS
2.42% , STLD , Steel Dynamics, STLD
0.18% , JKF , Value LargeCap iS M, JKF
0.68% , MCO , MOODYS CORP
1.41% , EWZ , Brazil Index, EWZ
1.47% , MDP , MEREDITH
0.57% , LLTC , LINEAR TECH
0.50% , AVY , AVERY DENNISON
2.83% , APD , AIR PRODS & CHEM
0.80% , LH , LAB CRP OF AMER
0.92% , ADI.O , ANALOG DEVICES
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Bearish Stocks: Falling Price and Rising Volume
Ranked by Price Change * Volume Change
% Price Change, Symbol, Name

-4.27% , BRCM , BROADCOM STK A
-4.49% , LO , Lorillard, Inc. LO
-5.92% , WAT , WATERS
-3.67% , HMA , HEALTH MGMT STK A
-2.81% , ITW , ILLINOIS TOOL
-2.58% , EL , Estee Lauder
-1.10% , PEJ , Leisure & Entertainment, PEJ
-2.31% , ABC , AMERISOURCEBERGN
-2.39% , XL , XL CAPITAL STK A
-5.12% , RSH , RADIOSHACK
-3.05% , ZION , ZIONS
-2.83% , CB , CHUBB
-0.12% , IEF , Bond, 10 Year Treasury, IEF
-6.15% , AMD , ADV MICRO DEV
-1.10% , PGR , PROGRESSIVE OHIO
-4.47% , NFLX , Netflix, NFLX
-4.06% , SHLD , SEARS HOLDINGS
-2.46% , ACE , ACE
-2.41% , MO , ALTRIA, MO
-1.24% , IFF , INTL FLAV & FRAG
-3.12% , IGT , INTL GAME TECH
-1.99% , RAI , Reynolds American
-1.23% , CR , CRANE
-1.46% , YUM , YUM BRANDS
-2.22% , KSU , Kansas City Southern, KSU
-0.53% , EPI , India Earnings WTree, EPI
-1.54% , MJN , Mead Johnson Nutrition
-0.90% , JWN , NORDSTROM
-0.93% , IYT , Transportation Av DJ, IYT
-2.13% , EXPD , Expeditors International WA
-0.56% , PXN , Nanotech Lux, PXN
-0.40% , IWZ , Growth LargeCap Russell 3000, IWZ
-0.29% , SOXX , Semiconductor iS IGW, SOXX
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One-Day Ranking of Major ETFs, Ranked from Strongest to Weakest of the Day:
% Price Change, ETF Name, Symbol

2.75% , China 25 iS, FXI
2.61% , Metals & Mining SPDR, XME
1.67% , Spain Index, EWP
1.54% , South Africa Index, EZA
1.50% , Mexico Index, EWW
1.48% , Hong Kong Index, EWH
1.41% , Brazil Index, EWZ
1.27% , Emerging 50 BLDRS, ADRE
1.10% , Emerging VIPERs, VWO
1.08% , Emerging Markets MSCI iS, EEM
1.08% , Latin Am 40, ILF
1.07% , Sweden Index, EWD
1.01% , Frontier Markets Guggenheim , FRN
0.95% , Taiwan Index, EWT
0.81% , South Korea Index, EWY
0.74% , Dividend ex-U.S. DJ iS, IDV
0.68% , Gold Shares S.T., GLD
0.64% , Pacific ex-Japan, EPP
0.64% , Thailand MSCI iS, THD
0.56% , Chile MSCI iS, ECH
0.55% , Italy Index, EWI
0.50% , Value EAFE MSCI, EFV
0.49% , Basic Materials DJ US, IYM
0.49% , EMU Europe Index, EZU
0.45% , Oil, Crude, U.S. Oil Fund, USO
0.44% , Capital Markets KWB ST, KCE
0.42% , Homebuilders SPDR, XHB
0.42% , Bond, Emerging Mkt JPM iS, EMB
0.39% , Global ex U.S. LargeCap Blend, ACWX
0.39% , China LargeCap Growth G D H USX PS, PGJ
0.38% , Australia Index, EWA
0.36% , Energy & Nat Res iS GS, IGE
0.36% , Pacific VIPERs, VPL
0.34% , Germany Index, EWG
0.33% , Oil Fund PowerShares, DBO
0.31% , Bond Ex-US Treas, BWX
0.30% , Materials SPDR, XLB
0.29% , Austria Index, EWO
0.28% , Belgium Index, EWK
0.27% , Utilities VIPERs, VPU
0.27% , Global 100, IOO
0.26% , Preferred Stock iS, PFF
0.25% , Utilities SPDR, XLU
0.21% , Bear, Short S&P 500, SH
0.21% , Canada Index, EWC
0.21% , Foreign LargeCap EAFE MSCI iS, EFA
0.21% , Energy DJ, IYE
0.21% , Energy VIPERs, VDE
0.20% , SmallCap Blend EAFE MSCI iS, SCZ
0.17% , Europe 350 S&P Index, IEV
0.17% , Energy SPDR, XLE
0.16% , DIAMONDS (DJIA), DIA
0.16% , European VIPERs, VGK
0.15% , Commodity Tracking, DBC
0.15% , Singapore Index, EWS
0.15% , Value SmallCap VIPERS, VBR
0.13% , MidCap Value S&P 400 iS, IJJ
0.12% , Energy Global, IXC
0.12% , France Index, EWQ
0.11% , Global LargeCap Blend MSCI iS, ACWI
0.11% , Financial Preferred, PGF
0.11% , United Kingdom Index, EWU
0.08% , Bond, Muni S&P ATM-Free iS, MUB
0.07% , Dividend Appreciation Vipers, VIG
0.06% , MidCap Blend S&P 400 iS, IJH
0.04% , Dividend SPDR, SDY
0.03% , LargeCap Value Russell 1000 iS, IWD
0.03% , Value MidCap Russell, IWS
0.03% , Value VIPERs, VTV
0.02% , LargeCap Value S&P 500 iS, IVE
0.02% , Turkey MSCI iS, TUR
0.02% , Growth EAFE MSCI, EFG
0.01% , MidCap S&P 400 SPDRs, MDY
0.00% , WilderHill Clean Energy PS, PBW
0.00% , Silver Trust iS, SLV
0.00% , Financial Services DJ, IYG
0.00% , Dividend U.S. DJ iS, DVY
0.00% , Dividend High Yield Equity PS, PEY
0.00% , Bond Treasury Short-Term iS, SHV
-0.01% , Bond, 1-3 Year Treasury, SHY
-0.01% , MidCap Growth S&P 400 iS, IJK
-0.02% , SmallCap Value Russell 2000 iS, IWN
-0.04% , Real Estate US DJ iS, IYR
-0.04% , Netherlands Index, EWN
-0.04% , SmallCap Growth S&P 600 iS, IJT
-0.05% , Small Cap VIPERs, VB
-0.06% , Bond, Intermediate US Aggregate iS, AGG
-0.06% , Malaysia Index, EWM
-0.07% , LargeCap Blend S&P 100, OEF
-0.07% , Industrial SPDR, XLI
-0.07% , Networking, IGN
-0.07% , SmallCap Blend Russell 2000 iS, IWM
-0.07% , Russia MV, RSX
-0.07% , Value LargeCap Dynamic PS, PWV
-0.08% , Japan Index, EWJ
-0.09% , REIT Wilshire, RWR
-0.11% , REIT VIPERs, VNQ
-0.12% , LargeCap VIPERs, VV
-0.12% , Bond, 10 Year Treasury, IEF
-0.12% , Dividend International, PID
-0.12% , Realty Cohen & Steers, ICF
-0.13% , SmallCap Growth Russell 2000 iS, IWO
-0.13% , Consumer Discretionary SPDR, XLY
-0.14% , Growth SmallCap VIPERs, VBK
-0.16% , Bond, Long-Term Corp iBoxx iS, LQD
-0.16% , Financials VIPERs, VFH
-0.17% , LargeCap Blend Russell 3000 iS, IWV
-0.17% , LargeCap Blend Russell 1000 iS, IWB
-0.17% , SmallCap Blend S&P 600 iS, IJR
-0.18% , Semiconductor SPDR, XSD
-0.18% , Blend Total Market VIPERs, VTI
-0.19% , Consumer Staples SPDR, XLP
-0.21% , LargeCap Blend S&P 500 iS, IVV
-0.21% , Telecom DJ US, IYZ
-0.21% , MidCap Russell, IWR
-0.21% , Indonesia MV, IDX
-0.21% , S&P 500 SPDRs LargeCap Blend, SPY
-0.23% , Bond, TIPS U.S. Treasury iS, TIP
-0.23% , LargeCap Blend S&P=Weight R, RSP
-0.24% , Bond, High Yield Corp iBoxx iS, HYG
-0.25% , Financial DJ US, IYF
-0.27% , SmallCap Value S&P 600 iS, IJS
-0.29% , Semiconductor iS IGW, SOXX
-0.29% , Bond, High-Yield Junk, JNK
-0.35% , Health Care SPDR, XLV
-0.36% , LargeCap Growth S&P 500 iS, IVW
-0.37% , LargeCap Growth Russell 1000 iS, IWF
-0.38% , Financial SPDR, XLF
-0.41% , Technology SPDR, XLK
-0.42% , Microcap Russell, IWC
-0.42% , Bond, 20+ Years Treasury, TLT
-0.43% , Info Tech VIPERs, VGT
-0.43% , Technology DJ US, IYW
-0.44% , Growth VIPERs, VUG
-0.49% , Growth MidCap Russell, IWP
-0.50% , Switzerland Index, EWL
-0.52% , Agriculture DB PS, DBA
-0.53% , India Earnings WTree, EPI
-0.64% , Water Resources, PHO
-0.74% , QQQ Nasdaq 100 Trust, QQQ
-0.75% , India PS, PIN
-0.93% , Transportation Av DJ, IYT
-1.49% , Biotech SPDR, XBI
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The S&P 500 Composite Potential Resistance
1698.78, high of 7/23/2013

The S&P 500 Composite Potential Support
1687.18, high of 5/22/2013
1671.84, low of 7/16/2013
1660.03, Fib 78.6% of May-June 2013
1654.19, high of 6/18/2013
1654.18, high of 7/9/2013
1642.14, 50-day SMA
1638.72, Fib 61.8% of May-June 2013
1606.04, Fib 23.6% of Nov-May 2013
1560.33, low of 6/24/2013
1556.24, Equal Waves Projection
1555.84, Fib 38.2% of Nov-May 2013
1536.03, low of 4/18/2013
1530.94, high of 2/19/2013
1527.33, 200-day SMA
1515.27, Fib 50% of Nov-May 2013
1485.01, low of 2/26/2013
1474.69, Fib 61.8% of Nov-May 2013
1474.51, high of 9/14/2012
1468.82, Fib 78.6% of 2009-13 range
1451.64, low on 1/8/2013
1448.00, high of 12/19/2012
1440.24, high of 5/19/2008
1439.15, high of 9/12/2012
1438.59, high of 12/12/2012
1434.27, high of 11/2/2012
1432.82, low of 12/20/2012
1430.53, low of 9/26/2012
1426.76, low of 12/12/2012
1425.53, low of 10/12/2012
1423.73, high of 12/3/2012
1422.58, low of 12/21/2012
1422.38, high of 4/2/2012
1422.06, low of 10/22/2012
1421.12, high of 10/25/2012
1420.34, high of 12/7/2012
1419.70, high of 11/29/2012
1418.71, high of 8/17/2012
1416.93, Fib 79.6% of Nov-May 2013
1415.32, high of 5/1/2012
1409.16, high of 11/23/2012
1403.28, low of 10/26/12
1401.58, low of 12/28/12
1398.11, low of 12/31/2012
1397.68, low of 11/26/2012
1396.56, low of 9/4/2012
1391.04, low of 8/6/2012
1388.71, low of 5/3/2012
1385.43, low of 11/28/2012
1381.50, Fibonacci 78.6% of 2007-2009 range
1380.39, high of 7/19/2012
1374.81, high of 7/3/2012
1370.58, high of 5/2/2011
1363.49, high of 6/19/2012
1357.38, low of 4/10/2012
1343.35, low of 11/16/2012
1340.03, low of 3/6/2012
1335.52, high of 6/11/2012
1334.93, high of 5/31/2012
1329.24, low of 7/24/2012
1329.05, high of 6/7/2012
1328.49, high of 5/22/2012
1325.41, low of 7/12/2012
1306.62, low of 6/12/2012
1297.39, Fib 61.8% of 2009-13 range
1291.98, low of 5/18/2012
1266.74, low of 6/4/2012
1265.26, low of 1/5/2012
1262.30, low of 12/27/2011
1244.80, low of 12/7/2011
1239.73, low of 12/1/2011
1238.81, Fibonacci 78.6% of 1,576.09 high
1234.81, low of 11/3/2011
1231.04, high of 12/16/2011
1228.74, Fibonacci 61.8% of 2007-2009 range
1226.64, low of 11/9/2011
1224.57, high of 12/19/2011
1215.20, low of 12/16/2011
1202.37, low of 12/19/2011
1176.99, Fib 50% of 2009-13 range
1158.66, low of 11/25/2011
1121.44, Fibonacci 50% of 2007-2009 range
1056.58, Fib 38.2% of 2009-13 range
1074.77, low of 10/4/2011
1014.14, Fibonacci 38.2% of 2007-2009 range
1010.91, low of 7/1/2010
991.97, low of 9/2/2009
978.51, low of 8/17/2009
956.23, high of 6/11/2009
907.60, Fib 23.6% of 2009-13 range
881.38, Fibonacci 23.6% of 2007-2009 range
869.32, low of 7/8/2009
666.79, intraday low of 3/6/2009