NASDAQ 100 is showing Relative Strength.

NASDAQ 100/S&P 500 Relative Strength Ratio (QQQ/SPY) rose above its 50-day SMA on 11/26/13, thereby turning systematically bullish (from neutral).

Foreign Stocks ETF (EFA) Relative Strength Ratio (EFA/SPY) fell below its lowest levels of the previous 2 months on 11/26/13, thereby confirming its preexisting medium-term downtrend.

Gold Mining Stocks ETF/Gold Shares ETF Relative Strength Ratio (GDX/GLD) fell below its lows of the previous 7 years on 11/26/13, thereby confirming its major long-term downtrend.

Materials (XLB) stock sector ETF Relative Strength Ratio (XLB/SPY) fell below its lowest levels of the previous 3 months on 11/26/13, thereby confirming a medium-term downtrend.

Energy (XLE) stock sector ETF Relative Strength Ratio (XLE/SPY) broke down below its lows of the previous 7 months on 11/26/13, thereby reconfirming a long-term downtrend.

Utilities (XLU) stock sector ETF Relative Strength Ratio (XLU/SPY) broke down below its lows of the previous 9 years on 11/26/13, thereby reconfirming a major downtrend.

The S&P 500 Composite Index (SPX: 1,802.75, up 0.01%) absolute price opened slightly higher on Tuesday, soon turned choppy, rose to an intraday new high in the early afternoon, but collapsed back down very near to the open in the final half hour, thereby forming an indecisive Doji Candlestick, which often marks a change in the minor trend. The S&P 500 closed below the midpoint of the day’s high-low range.

NYSE total volume rose 13% to a level 7% below its 200-day SMA. Generally, rising volume confirms the direction (up or down) of a price move, but falling volume may indicate diminishing power behind a price trend, which can suggest a price reversal ahead.

The Cumulative Daily Advance-Decline Line and the Cumulative Up-Down Volume Line on the NYSE both turned upward on Tuesday. Although both Lines remain systematically bullish above 50- and 200-day day SMAs, both have remained below their previous 2013 highs, thereby signaling bearish divergence compared to the large-capitalization stock price indexes, which made higher highs on 11/22/13.

Momentum oscillators RSI and MACD based on the S&P 500 have stalled out below October highs as the S&P 500 price rose to higher price highs in November. Previously, both remained stubbornly and bearishly divergent below first half 2013 highs as the S&P 500 rose to higher highs in July, August, September, and October.

Momentum divergences, persistently low trading volume, excessive bullish sentiment, and prospects for continuing dysfunctional political games remain challenges to a sustainable upside trend. On the other hand, the bullish case appears to rest primarily on continuation of central banks’ highly-accommodative monetary policies.
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Stock Market Indicators

The Dow Theory reconfirmed a Primary Tide Bull Market on 11/25/13 when the Dow-Jones Industrial Average and the Dow-Jones Transportation Average both closed at new closing price highs.

NASDAQ 100/S&P 500 Relative Strength Ratio (QQQ/SPY) rose above its 50-day SMA on 11/26/13, thereby turning systematically bullish (from neutral). Absolute price whipsawed back up above its 50-day SMA on 10/10/13, thereby turning systematically bullish (from neutral).

iShares MSCI BRIC Fund (BKF) Relative Strength Ratio (BKF/SPY) fell below its lows of the previous 2 months on 11/13/13, thereby confirming its preexisting long-term downtrend. BKF/SPY turned systematically bearish (from neutral) on 10/31/13 by whipsawing back down below its 50-day SMA. The 50-day SMA remains below the 200-day SMA. BKF/SPY has underperformed since it peaked on 10/14/2010. Absolute price of BKF also fell below its lows of the previous 2 months on 11/13/13, thereby confirming its preexisting short-term downtrend. Price peaked at 42.29 on 2/1/13, fell to a 20-month low at 32.62 on 6/24/13, and remains stuck in that trading range.

Emerging Markets Stocks ETF (EEM) Relative Strength Ratio (EEM/SPY) fell below its lows of the previous 2 months 11/13/13, thereby confirming its preexisting long-term downtrend. EEM/SPY turned systematically bearish (from neutral) on 10/31/13 by whipsawing back down below its 50-day SMA. Long term, the 50-day SMA remains far below the 200-day SMA, and EEM/SPY has underperformed since the ratio peaked on 10/14/2010. This year, absolute price of EEM peaked at 45.34 on 1/2/13, fell to a 19-month low of 36.16 on 6/24/13, and remains stuck in that trading range.

Foreign Stocks ETF (EFA) Relative Strength Ratio (EFA/SPY) fell below its lowest levels of the previous 2 months on 11/25/13, thereby confirming its preexisting medium-term downtrend. For nearly 6 years, from 11/27/07 to 7/9/13, EFA/SPY substantially underperformed, and that secular downtrend may still be in effect.

The Largest Cap S&P 100/S&P 500 Relative Strength Ratio (OEF/SPY) turned systematically neutral (from bearish) on 11/6/13 by rising back up above its 50-day SMA. 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) fell below its lows of the previous 3 months on 11/19/13, thereby confirming a medium-term downtrend. IWM/SPY turned systematically neutral (from bullish) on 10/30/13 by falling below its 50-day SMA. Absolute price whipsawed back up above its 50-day SMA on 10/10/13, thereby turning systematically bullish (from neutral).

The S&P Mid Cap 400/Large Cap Relative Strength Ratio (MDY/SPY) fell below its lows of the previous 10 weeks on 11/19/13, thereby confirming a medium-term downtrend. MDY/SPY turned systematically neutral (from bullish) on 11/5/13 by falling below its 50-day SMA. Absolute price whipsawed back up above its 50-day SMA on 10/10/13, thereby turning systematically bullish (from neutral).
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Tangible Assets, Commodities

U.S. dollar ETF (UUP) price whipsawed back up above its 50-day SMA on 11/7/13, thereby turning systematically neutral (from bearish). The 50-day SMA remains in a weak position below its 200-day SMA. UUP has been consolidating secular trend losses since bottoming at 20.84 on 5/4/11. Support 21.07 and 20.84. Resistance 22.34, 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 previous 3 months on 11/26/13, thereby confirming its preexisting bearish trend. DBA turned systematically bearish (from neutral) on 10/29/13, when it fell below its 50-day SMA. DBA price was in a cyclical bear market for 29 months from a peak at 35.58 on 3/4/11 to a low of 24.36 on 8/2/13.

Crude Oil, United States Oil ETF (USO) price fell below its lows of the previous 4 months on 11/12/13, thereby reconfirming a medium-term downtrend. Price fell below its 50-day SMA on 9/20/13, thereby turning systematically neutral again (from bullish). Support 32.98, 32.53, 32.12, 30.79, 29.02, 26.28, and 22.74. Resistance 35.61, 37.59, 39.54, 39.64, 40.29, 41.38, 42.30, and 45.60.

Gold, SPDR Gold Shares ETF (GLD) price fell below its lows of the previous 4 months on 11/21/13, thereby confirming its preexisting bearish trend. GLD price fell below its 50-day SMA on 10/31/13, thereby turning systematically bearish again (from neutral). 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) fell below its lows of the previous 7 years on 11/25/13, thereby confirming its major long-term downtrend. GDX/GLD has stayed systematically bearish most of the time since absolute price peaked at 66.98 on 9/9/11.

Silver, iShares Silver Trust ETF (SLV) price fell below its lows of the previous 3 months on 11/20/13, thereby confirming its preexisting bearish trend. SLV price fell below its 50-day SMA on 10/31/13, thereby turning systematically bearish again (from neutral). Support 18.71, 17.75, 16.73, 14.37, 12.27, 11.64, and 8.45. Resistance: 23.84, 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 3 months on 11/20/13, thereby confirming its preexisting bearish trend. SLV/GLD fell below its 50-day SMA on 10/31/13, thereby turning systematically bearish again (from neutral). SLV underperformed GLD substantially for more than 2 years from 4/28/11 to 7/30/13.

Copper, iPath DJ-UBS Copper TR Sub-Index ETN (JJC) price fell below its lows of the previous 3 months on 11/20/13, thereby confirming its preexisting bearish trend. Price whipsawed back down below its 50-day SMA on 11/4/13, thereby turning systematically bearish again (from neutral). Longer term, JJC price was in a persistent downtrend for more than 2 years from its peak of 61.69 on 2/14/11 to its low of 36.87 on 6/24/13. “Dr. Copper” is widely accepted as one of the better indicators of investor confidence (or lack thereof) in the global industrial economy.
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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
8.68% , TIF , TIFFANY
4.22% , S , SPRINT NEXTEL
3.30% , COH , COACH
4.41% , PHM , PULTE HOMES
3.96% , DISH , EchoStar Communications
5.07% , LEN , Lennar Corp. (LEN)
4.24% , RYAAY , Ryanair Holdings plc
4.62% , DHI , D.R. HORTON, DHI
1.52% , MAS , MASCO
1.58% , XL , XL CAPITAL STK A
1.12% , SYY , SYSCO
1.14% , DHR , DANAHER
0.84% , NVDA , NVIDIA
1.45% , AMAT , APPLIED MATERIAL
1.20% , RTN , RAYTHEON
2.07% , XHB , Homebuilders SPDR, XHB
4.70% , KBH , KB HOME
1.42% , ECL , ECOLAB
2.76% , MNST , Monster Beverage, MNST
1.00% , DISCA , Discovery Communications
0.97% , HSY , HERSHEY FOODS
1.84% , AAPL , APPLE COMPUTER
0.87% , EWP , Spain Index, EWP
5.47% , CECO , CAREER EDUCATION CORP
2.06% , DIS , WALT DISNEY
0.58% , IGM , Technology GS, IGM
1.20% , GIS , GENERAL MILLS
1.04% , PFG , PRINCIPAL FINL
1.69% , LBTYA , Liberty Global Inc. (LBTYA)
1.85% , JCP , JC PENNEY
1.06% , UPS , UNITED PARCEL STK B
0.95% , MJN , Mead Johnson Nutrition
1.77% , AMD , ADV MICRO DEV
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Bearish Stocks: Falling Price and Rising Volume
Ranked by Price Change * Volume Change
% Price Change, Symbol, Name
-5.19% , CNP , CENTERPNT ENERGY
-1.81% , AZO , AUTOZONE
-1.34% , TWX , TIME WARNER INC
-2.54% , LXK , LEXMARK INTL STK A
-1.09% , SRE , SEMPRA ENERGY
-0.94% , CCL , CARNIVAL STK A
-0.32% , PBW , WilderHill Clean Energy PS, PBW
-0.98% , WAT , WATERS
-1.65% , SYMC , SYMANTEC
-1.84% , BMY , BRISTOL MYERS
-1.05% , ZION , ZIONS
-1.35% , BSX , BOSTON SCIENT
-1.15% , PEP , PEPSICO
-0.54% , IDX , Indonesia MV, IDX
-1.49% , AIV , APT INV MNGMT
-0.52% , CAG , CONAGRA FOODS
-1.01% , AEE , AMEREN
-0.94% , PM , Philip Morris, PM
-0.99% , XLU , Utilities SPDR, XLU
-1.44% , CMS , CMS ENERGY
-0.79% , PCG , PG&E
-0.64% , K , KELLOGG
-0.83% , ETR , ENTERGY
-0.91% , HPQ , HEWLETT PACKARD
-1.03% , CVS , CVS
-0.33% , MSI , Motorola Solutions, MSI
-0.15% , IGV , Software, IGV
-1.22% , ED , CON ED
-0.47% , AVY , AVERY DENNISON
-0.42% , FDO , FAMILY DLR STRS
-1.43% , KR , KROGER
-0.82% , TBT , 200% Short US T Bond, TBT
-0.44% , SNPS , Synopsys Inc
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One-Day Ranking of Major ETFs, Ranked from Strongest to Weakest of the Day:
% Price Change, ETF Name, Symbol
2.07% , Homebuilders SPDR, XHB
1.53% , Thailand MSCI iS, THD
1.37% , Taiwan Index, EWT
1.26% , China LargeCap Growth G D H USX PS, PGJ
1.19% , Biotech SPDR, XBI
1.03% , SmallCap Growth Russell 2000 iS, IWO
0.99% , Microcap Russell, IWC
0.97% , South Korea Index, EWY
0.87% , Spain Index, EWP
0.87% , SmallCap Value S&P 600 iS, IJS
0.85% , Semiconductor iS IGW, SOXX
0.78% , Hong Kong Index, EWH
0.78% , SmallCap Growth S&P 600 iS, IJT
0.75% , Semiconductor SPDR, XSD
0.74% , SmallCap Blend Russell 2000 iS, IWM
0.71% , SmallCap Blend S&P 600 iS, IJR
0.70% , Belgium Index, EWK
0.67% , Telecom DJ US, IYZ
0.63% , Growth SmallCap VIPERs, VBK
0.59% , Singapore Index, EWS
0.59% , Consumer Discretionary SPDR, XLY
0.57% , SmallCap Value Russell 2000 iS, IWN
0.57% , Germany Index, EWG
0.54% , China 25 iS, FXI
0.52% , QQQ Nasdaq 100 Trust, QQQ
0.51% , Info Tech VIPERs, VGT
0.50% , Austria Index, EWO
0.49% , Technology DJ US, IYW
0.47% , Growth VIPERs, VUG
0.46% , Italy Index, EWI
0.44% , Small Cap VIPERs, VB
0.43% , Networking, IGN
0.38% , EMU Europe Index, EZU
0.37% , Bond, 20+ Years Treasury, TLT
0.36% , India PS, PIN
0.35% , Russia MV, RSX
0.35% , Technology SPDR, XLK
0.35% , Sweden Index, EWD
0.34% , Emerging Markets MSCI iS, EEM
0.33% , Value SmallCap VIPERS, VBR
0.32% , France Index, EWQ
0.32% , Malaysia Index, EWM
0.31% , Bond Ex-US Treas, BWX
0.31% , Growth MidCap Russell, IWP
0.27% , Frontier Markets Guggenheim , FRN
0.26% , LargeCap Growth S&P 500 iS, IVW
0.22% , SmallCap Blend EAFE MSCI iS, SCZ
0.22% , Bond, 10 Year Treasury, IEF
0.21% , MidCap Growth S&P 400 iS, IJK
0.20% , Bond, Long-Term Corp iBoxx iS, LQD
0.20% , Industrial SPDR, XLI
0.18% , India Earnings WTree, EPI
0.17% , LargeCap Growth Russell 1000 iS, IWF
0.17% , Capital Markets KWB ST, KCE
0.16% , Preferred Stock iS, PFF
0.16% , Switzerland Index, EWL
0.15% , Europe 350 S&P Index, IEV
0.14% , LargeCap Blend Russell 3000 iS, IWV
0.12% , Financial Preferred, PGF
0.11% , MidCap Russell, IWR
0.10% , Blend Total Market VIPERs, VTI
0.09% , LargeCap Blend S&P=Weight R, RSP
0.08% , Pacific ex-Japan, EPP
0.08% , Netherlands Index, EWN
0.08% , Bond, High Yield Corp iBoxx iS, HYG
0.07% , Emerging VIPERs, VWO
0.05% , Bond, High-Yield Junk, JNK
0.04% , Bear, Short S&P 500, SH
0.04% , MidCap Blend S&P 400 iS, IJH
0.04% , Bond, Muni S&P ATM-Free iS, MUB
0.04% , Value EAFE MSCI, EFV
0.03% , Bond, Intermediate US Aggregate iS, AGG
0.03% , S&P 500 SPDRs LargeCap Blend, SPY
0.02% , LargeCap VIPERs, VV
0.02% , European VIPERs, VGK
0.02% , LargeCap Blend S&P 500 iS, IVV
0.01% , Bond, 1-3 Year Treasury, SHY
0.00% , Bond Treasury Short-Term iS, SHV
0.00% , LargeCap Blend Russell 1000 iS, IWB
0.00% , Foreign LargeCap EAFE MSCI iS, EFA
0.00% , MidCap S&P 400 SPDRs, MDY
-0.01% , Bond, TIPS U.S. Treasury iS, TIP
-0.01% , Growth EAFE MSCI, EFG
-0.02% , Value MidCap Russell, IWS
-0.02% , MidCap Value S&P 400 iS, IJJ
-0.04% , Commodity Tracking, DBC
-0.04% , Global ex U.S. LargeCap Blend, ACWX
-0.05% , Financials VIPERs, VFH
-0.06% , Mexico Index, EWW
-0.06% , Financial DJ US, IYF
-0.07% , DIAMONDS (DJIA), DIA
-0.07% , Value LargeCap Dynamic PS, PWV
-0.08% , Dividend Appreciation Vipers, VIG
-0.08% , Pacific VIPERs, VPL
-0.09% , Dividend High Yield Equity PS, PEY
-0.09% , Turkey MSCI iS, TUR
-0.09% , Consumer Staples SPDR, XLP
-0.09% , Financial SPDR, XLF
-0.10% , LargeCap Blend S&P 100, OEF
-0.11% , Global LargeCap Blend MSCI iS, ACWI
-0.11% , Dividend ex-U.S. DJ iS, IDV
-0.11% , Oil Fund PowerShares, DBO
-0.12% , Energy & Nat Res iS GS, IGE
-0.12% , Agriculture DB PS, DBA
-0.12% , Financial Services DJ, IYG
-0.14% , Bond, Emerging Mkt JPM iS, EMB
-0.14% , Transportation Av DJ, IYT
-0.17% , Dividend SPDR, SDY
-0.19% , Emerging 50 BLDRS, ADRE
-0.19% , Basic Materials DJ US, IYM
-0.20% , Water Resources, PHO
-0.20% , Value VIPERs, VTV
-0.20% , LargeCap Value S&P 500 iS, IVE
-0.21% , Energy VIPERs, VDE
-0.21% , Chile MSCI iS, ECH
-0.22% , LargeCap Value Russell 1000 iS, IWD
-0.22% , Energy DJ, IYE
-0.25% , Materials SPDR, XLB
-0.25% , Energy SPDR, XLE
-0.28% , Dividend International, PID
-0.28% , Real Estate US DJ iS, IYR
-0.29% , Health Care SPDR, XLV
-0.30% , Dividend U.S. DJ iS, DVY
-0.31% , Global 100, IOO
-0.32% , WilderHill Clean Energy PS, PBW
-0.35% , REIT VIPERs, VNQ
-0.38% , Oil, Crude, U.S. Oil Fund, USO
-0.40% , Realty Cohen & Steers, ICF
-0.40% , REIT Wilshire, RWR
-0.41% , Japan Index, EWJ
-0.44% , United Kingdom Index, EWU
-0.51% , Australia Index, EWA
-0.53% , Gold Shares S.T., GLD
-0.53% , Energy Global, IXC
-0.54% , Indonesia MV, IDX
-0.63% , Latin Am 40, ILF
-0.73% , Silver Trust iS, SLV
-0.75% , Canada Index, EWC
-0.80% , Metals & Mining SPDR, XME
-0.82% , Brazil Index, EWZ
-0.95% , South Africa Index, EZA
-0.97% , Utilities VIPERs, VPU
-0.99% , Utilities SPDR, XLU
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The S&P 500 Composite Potential Resistance
1808.42, high of 11/26/2013

The S&P 500 Composite Potential Support
1800.58, low of 11/25/2013
1760.64, low of 11/13/2013
1746.20, low of 11/7/2013
1740.50, low of 10/23/2013
1738.80, 50-day SMA
1729.86, high of 9/19/2013
1711.57, high of 10/15/2013
1709.67, high of 8/2/2013
1703.85, high of 9/26/2013
1700.18, high of 8/8/2013
1698.78, high of 7/23/2013
1696.81, high of 8/13/2013
1696.55, high of 10/1/2013
1695.93, low of 10/15/2013
1687.18, high of 5/22/2013
1687.11, low of 9/27/2013
1676.03, low of 7/26/2013
1674.99, low of 9/30/2013
1672.40, high of 9/9/2013
1671.84, low of 7/16/2013
1670.36, low of 10/3/2013
1669.51, high of 8/26/2013
1654.19, high of 6/18/2013
1654.18, high of 7/9/2013
1652.61, low of 8/16/2013
1647.38, 200-day SMA
1646.47, low of 10/9/2013
1629.05, low of 8/27/2013
1560.33, low of 6/24/2013
1536.03, low of 4/18/2013
1530.94, high of 2/19/2013
1485.01, low of 2/26/2013
1474.51, high of 9/14/2012
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
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
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
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
1234.81, low of 11/3/2011
1231.04, high of 12/16/2011
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
1158.66, low of 11/25/2011
1074.77, low of 10/4/2011
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
869.32, low of 7/8/2009
666.79, intraday low of 3/6/2009