Gold Mining Stocks ETF/Gold Shares ETF Relative Strength Ratio (GDX/GLD) fell below its lows of the previous 8 years on 10/29/14, thereby reconfirming its preexisting downtrend. Absolute price of GDX fell below its lows of the previous 5 years on 10/29/14.

Silver Miners ETF (SIL) price also fell to a new low.

Newmont Mining (NEM) price fell below its lows of the previous 12 years.

Materials Select Sector SPDR ETF (XLB) Relative Strength Ratio (XLB/SPY) fell below its lows of the previous 14 months.

Foreign Stocks ETF (EFA) Relative Strength Ratio (EFA/SPY) broke down below its lows of the previous 10 years on 10/29/14. EFA/SPY has remained systematically bearish most of the time over the past 6 years.

The S&P 500 Composite Index (SPX: 1,982.30, down 0.14%) turned volatile on Wednesday, but short-term trend indicators are still pointing upward. SPX remains rose above its 50-day SMA and rose further above its 200-day SMA.

NYSE total volume rose 1% to a level 9% above 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. Volume can provide insights that are not available from the majority of indicators, which are based on price.

The Number of Daily Net New Highs on the NYSE (New Highs minus New Lows), now at +272, has been running below its peaks above +800 recorded in 2012 and 2013, when the S&P 500 was lower than it is now. So, this indicator still is diverging bearishly relative to last year’s levels.

Stock market sentiment indicators have been at excessive, multiyear high levels of bullishness (which is bearish), bearish momentum divergences have been present for months, and there is a tendency for low trading volume on up days and rising trading volume on down days (generally, not always), suggesting distribution.

The Dow Theory reconfirmed a Primary Tide Bull Market on 9/18/14 when both the Dow-Jones Industrial Average and the Dow-Jones Transportation Average rose to new all-time closing price highs. After 9/18/14, the U.S. stock market entered a medium-term Secondary Reaction. Now, in order to reconfirm a Primary Tide Bull Market, both Averages must close at new all-time closing price highs. Otherwise, we must assume a continuing Secondary Reaction.

NASDAQ 100 ETF/S&P 500 ETF Relative Strength Ratio (QQQ/SPY) rose above its highs of the previous 13 years on 10/28/14 and remains systematically bullish. The absolute price of QQQ also is systematically bullish.

iShares MSCI BRIC Fund (BKF) Relative Strength Ratio (BKF/SPY) broke down below its lows of the previous 7 months on 10/27/14. BKF/SPY crossed below its 50-day SMA on 9/10/14, thereby turning systematically neutral (from bullish). Longer term, BKF/SPY has been systematically bearish most of the time over the past 4 years.

Emerging Markets Stocks ETF (EEM) Relative Strength Ratio (EEM/SPY) broke down below its lows of the previous 7 months on 10/27/14. EEM/SPY has been systematically neutral most of the time since making a low on 3/13/14. Longer term, EEM/SPY has been systematically bearish most of the time since making a high on 10/14/10.

Foreign Stocks ETF (EFA) Relative Strength Ratio (EFA/SPY) broke down below its lows of the previous 10 years on 10/29/14. EFA/SPY has remained systematically bearish most of the time over the past 6 years.

The Largest Cap S&P 100/S&P 500 Relative Strength Ratio (OEF/SPY) fell sharply since 10/13/14, and the OEF/SPY trend has turned neutral again. 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 4 years on 10/10/14, thereby reconfirming its preexisting bearish trend. IWM/SPY 50-day SMA crossed below the 200-day SMA on 4/29/14, thereby turning systematically bearish (from neutral). Absolute price has been weak since it peaked at 120.97 on 7/1/14.

The S&P Mid Cap 400/Large Cap Relative Strength Ratio (MDY/SPY) fell below its lows of the previous 23 months on 10/10/14, thereby reconfirming its preexisting bearish trend. MDY/SPY 50-day SMA crossed below the 200-day SMA on 5/9/14, thereby turning systematically bearish (from neutral). Absolute price has been weak since it peaked at 264 on 7/1/14.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Fixed-Income Investments

Bond, iShares Barclays 20+ Year U.S. Treasury ETF (TLT) absolute price rose to a new high on 10/15/14. TLT crossed above its 50-day SMA on 9/25/14, thereby turning systematically bullish (from neutral). Support 118.78, 112.73, 110.34, 109.61, 107.17, 105.60, 101.17, 100.00, 96.31, 94.83, 93.14, 89.65, and 88.14. Resistance: 127.72, 130.69, and 132.22.

Bond, iShares Barclays 7-10 Year U.S. Treasury ETF (IEF) absolute price rose above its highs of the previous 17 months on 10/15/14. IEF crossed above its 50-day SMA on 10/1/14, thereby turning systematically bullish (from neutral). Support 102.45, 102.20, 101.52, 100.86, 99.18, 98.60, 98.19, 97.66, 91.94, 91.07, 88.12, 87.70, 87.49, 86.59, and 85.80. Resistance: 109.17, 109.20, 109.32, and 109.89.

Junk/Investment-Grade Corporate Bond ETFs Relative Strength Ratio (JNK/LQD) fell below its lows of the previous 23 months on 10/15/14 and remains systematically bearish. JNK/LQD 50-day SMA crossed below the 200-day SMA on 4/1/14. Absolute price of JNK has turned unusually volatile since 6/24/14.

U.S. Treasury Inflation Protected / U.S. Treasury 7-10 Year ETFs Relative Strength Ratio (TIP/IEF) fell below its lows of the previous 5 years on 10/15/14, thereby reconfirming its preexisting downtrend. Absolute price fell below its lows of the previous 4 months on 9/18/14.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Tangible Assets, Commodities

U.S. dollar ETF (UUP) absolute price rose to its highest level in more than 2 years on 10/3/14, thereby reconfirming its preexisting uptrend. The rising 50-day SMA crossed above the rising 200-day SMA on 8/20/14, thereby turning systematically bullish (from neutral). Support 21.66, 21.07, and 20.84. Resistance 23.14, 23.52, 25.84, 27.19, and 28.97.

Agriculture, PowerShares DB Agriculture Fund ETF (DBA) absolute price broke down below its lows of the previous 7 months on 9/22/14, thereby reconfirming a significant downtrend. The 50-day SMA fell below the 200-day SMA on 8/29/14, thereby giving a systematically bearish signal.

Crude Oil, United States Oil ETF (USO) absolute price fell to its lowest price level in 27 months on 10/27/14, thereby reconfirming its preexisting downtrend. Support 29.02, 26.28, and 22.74. Resistance 35.62, 36.58, 38.30, 39.54, 39.64, 40.29, 41.38, 42.30, and 45.60.

Gold, SPDR Gold Shares ETF (GLD) absolute price fell below its lows of the previous 9 months on 10/3/14, thereby reconfirming its preexisting downtrend. Support: 114.46, 113.08, and 102.28. Resistance: 129.21, 133.69, 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 8 years on 10/29/14, thereby reconfirming its preexisting downtrend. Absolute price of GDX fell below its lows of the previous 5 years on 10/29/14.

Silver, iShares Silver Trust ETF (SLV) absolute price fell below its lows of the previous 4 years on 10/3/14, thereby reconfirming its preexisting downtrend. Support 14.37, 12.27, 11.64, and 8.45. Resistance: 17.74, 20.64, 21.30, 22.23, 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 5 years on 10/22/14, thereby reconfirming its preexisting downtrend. The trend of SLV/GLD has pointed down most of the time since it peaked on 4/28/11, and Silver continues to underperform Gold.

Copper, iPath DJ-UBS Copper TR Sub-Index ETN (JJC) absolute price fell below its lows of the previous 6 months on 10/16/14, thereby reconfirming its preexisting downtrend. Long term, JJC has been in a major downtrend since topping 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.
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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

0.44% , PXJ , Oil & Gas, PXJ
9.00% , RFMD , RF Micro Devices Inc
5.06% , X , US STEEL CORP
3.82% , EA.O , ELECTRONIC ARTS
2.03% , PETM , PETsMART Inc
3.07% , WMB , WILLIAMS
1.67% , SWY , SAFEWAY
1.73% , ETFC , E*TRADE FINANCIAL
2.42% , SEE , SEALED AIR
3.66% , XRAY , DENTSPLY International Inc
3.24% , FII , FED INVESTORS STK B
1.76% , ETN , EATON
1.53% , CI , CIGNA
2.39% , MPEL , Melco Crown Entertainment, MPEL
1.48% , DBO , Oil Fund PowerShares, DBO
0.81% , MCHP , Microchip Technology Incorporated
2.12% , MHFI.K , McGraw Hill Financial, Inc., MHFI.K
0.60% , AFL , AFLAC
1.15% , HES , AMERADA HESS
0.99% , EWY , South Korea Index, EWY
0.54% , RL , Polo Ralph Lauren
2.88% , AMP , Ameriprise Financial Inc.
1.07% , APC , ANADARKO PETRO
1.13% , BAC , BANK OF AMERICA
0.64% , FISV , FISERV
0.80% , MTB , M&T BANK
0.99% , KO , COCA COLA
2.08% , PCG , PG&E
1.43% , NTRS , NORTHERN TRUST
0.46% , HAR , Harman International
0.37% , WYNN , Wynn Resorts L
0.36% , FLEX , Flextronics International Ltd
0.26% , CINF , CINCINNATI FIN
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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

-4.35% , SIL , Silver Miners Global X, SIL
-2.95% , EWP , Spain Index, EWP
-1.80% , EWO , Austria Index, EWO
-4.76% , NEM , NEWMONT MINING
-2.16% , BMS , BEMIS
-2.22% , ECL , ECOLAB
-1.43% , WM , WASTE MANAGEMENT
-5.42% , ATI , ALLEGHENY TECH
-1.99% , AA , ALCOA
-1.24% , XLB , Materials SPDR, XLB
-6.08% , FB.O , Facebook, Inc., FB
-5.66% , GRMN , GARMIN LTD
-1.15% , MON , MONSANTO
-3.94% , DB , Deutsche Bank AG, DB
-1.69% , DD , DU PONT
-3.08% , WY , WEYERHAEUSER
-1.17% , EWK , Belgium Index, EWK
-1.43% , GLD , Gold Shares S.T., GLD
-2.65% , EMN , EASTMAN CHEM
-2.46% , PX , PRAXAIR
-1.27% , NUE , NUCOR
-2.09% , DRI , DARDEN REST
-1.54% , HSY , HERSHEY FOODS
-0.74% , IYR , Real Estate US DJ, IYR
-1.05% , IEV , Europe 350 S&P Index, IEV
-2.18% , IFF , INTL FLAV & FRAG
-1.27% , IP , INTL PAPER
-2.19% , CAG , CONAGRA FOODS
-1.90% , TMO , THERMO ELECTRON
-2.24% , KBH , KB HOME
-1.71% , PPG , PPG INDUSTRIES
-0.93% , GIS , GENERAL MILLS
-1.74% , EWA , Australia Index, EWA
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

One-Day Ranking of Major ETFs, Ranked from Strongest to Weakest of the Day:
% Price Change, ETF Name, Symbol

1.48% , Oil Fund PowerShares, DBO
1.33% , Oil, Crude, U.S. Oil Fund, USO
1.17% , Commodity Tracking, DBC
0.99% , South Korea Index, EWY
0.81% , Indonesia MV, IDX
0.54% , Agriculture DB PS, DBA
0.54% , Financial Services DJ, IYG
0.53% , Japan Index, EWJ
0.53% , Capital Markets KWB ST, KCE
0.36% , China 25 iS, FXI
0.33% , Energy SPDR, XLE
0.28% , Energy VIPERs, VDE
0.26% , Financial SPDR, XLF
0.25% , Energy DJ, IYE
0.23% , Bond, 20+ Years Treasury, TLT
0.20% , Semiconductor iS IGW, SOXX
0.20% , Value LargeCap Dynamic PS, PWV
0.18% , Bear, Short S&P 500, SH
0.17% , Bond, High-Yield Junk, JNK
0.14% , Emerging Markets MSCI iS, EEM
0.14% , Hong Kong Index, EWH
0.14% , Pacific VIPERs, VPL
0.13% , Financials VIPERs, VFH
0.08% , Bond, Muni S&P ATM-Free iS, MUB
0.07% , Financial DJ US, IYF
0.05% , Energy Global, IXC
0.05% , Health Care SPDR, XLV
0.04% , LargeCap Value Russell 1000 iS, IWD
0.01% , Mexico Index, EWW
0.00% , Taiwan Index, EWT
0.00% , SmallCap Value S&P 600 iS, IJS
-0.01% , Bond Treasury Short-Term iS, SHV
-0.01% , Realty Cohen & Steers, ICF
-0.01% , LargeCap Value S&P 500 iS, IVE
-0.02% , Value VIPERs, VTV
-0.05% , Energy & Nat Res iS GS, IGE
-0.06% , Financial Preferred, PGF
-0.06% , Frontier Markets Guggenheim , FRN
-0.08% , Preferred Stock iS, PFF
-0.08% , Bond, High Yield Corp iBoxx iS, HYG
-0.08% , LargeCap Blend S&P 100, OEF
-0.08% , Microcap Russell, IWC
-0.09% , SmallCap Growth S&P 600 iS, IJT
-0.09% , Dividend Appreciation Vipers, VIG
-0.10% , Technology SPDR, XLK
-0.11% , LargeCap Growth S&P 500 iS, IVW
-0.11% , MidCap S&P 400 SPDRs, MDY
-0.12% , LargeCap Blend S&P 500 iS, IVV
-0.13% , SmallCap Blend S&P 600 iS, IJR
-0.13% , Semiconductor SPDR, XSD
-0.13% , Bond, 1-3 Year Treasury, SHY
-0.13% , Dividend U.S. DJ iS, DVY
-0.13% , Bond, TIPS U.S. Treasury iS, TIP
-0.15% , MidCap Value S&P 400 iS, IJJ
-0.15% , Value SmallCap VIPERS, VBR
-0.15% , Blend Total Market VIPERs, VTI
-0.15% , MidCap Growth S&P 400 iS, IJK
-0.15% , S&P 500 SPDRs LargeCap Blend, SPY
-0.15% , SmallCap Value Russell 2000 iS, IWN
-0.15% , DIAMONDS (DJIA), DIA
-0.15% , LargeCap VIPERs, VV
-0.16% , Dividend SPDR, SDY
-0.17% , Telecom DJ US, IYZ
-0.17% , MidCap Blend S&P 400 iS, IJH
-0.17% , REIT Wilshire, RWR
-0.17% , Consumer Staples SPDR, XLP
-0.17% , Networking, IGN
-0.18% , LargeCap Blend Russell 3000 iS, IWV
-0.18% , Bond, Long-Term Corp iBoxx iS, LQD
-0.19% , LargeCap Blend Russell 1000 iS, IWB
-0.19% , Emerging VIPERs, VWO
-0.19% , Small Cap VIPERs, VB
-0.20% , Malaysia Index, EWM
-0.21% , LargeCap Blend S&P=Weight R, RSP
-0.22% , Bond, Intermediate US Aggregate iS, AGG
-0.22% , Global 100, IOO
-0.24% , SmallCap Blend Russell 2000 iS, IWM
-0.24% , Value MidCap Russell, IWS
-0.27% , Info Tech VIPERs, VGT
-0.27% , LargeCap Growth Russell 1000 iS, IWF
-0.27% , Bond, Emerging Mkt JPM iS, EMB
-0.27% , SmallCap Blend EAFE MSCI iS, SCZ
-0.27% , Water Resources, PHO
-0.28% , Sweden Index, EWD
-0.30% , Consumer Discretionary SPDR, XLY
-0.30% , Technology DJ US, IYW
-0.31% , South Africa Index, EZA
-0.32% , Growth VIPERs, VUG
-0.33% , Bond, 10 Year Treasury, IEF
-0.33% , Growth SmallCap VIPERs, VBK
-0.34% , Growth MidCap Russell, IWP
-0.34% , Dividend High Yield Equity PS, PEY
-0.34% , MidCap Russell, IWR
-0.35% , Industrial SPDR, XLI
-0.37% , QQQ Nasdaq 100 Trust, QQQ
-0.39% , SmallCap Growth Russell 2000 iS, IWO
-0.40% , India Earnings WTree, EPI
-0.44% , Dividend International, PID
-0.44% , Global LargeCap Blend MSCI iS, ACWI
-0.45% , Transportation Av DJ, IYT
-0.46% , Brazil Index, EWZ
-0.48% , United Kingdom Index, EWU
-0.51% , WilderHill Clean Energy PS, PBW
-0.51% , Turkey MSCI iS, TUR
-0.51% , Utilities VIPERs, VPU
-0.52% , Global ex U.S. LargeCap Blend, ACWX
-0.54% , Growth EAFE MSCI, EFG
-0.55% , Emerging 50 BLDRS, ADRE
-0.56% , REIT VIPERs, VNQ
-0.57% , Chile MSCI iS, ECH
-0.58% , Utilities SPDR, XLU
-0.62% , Latin Am 40, ILF
-0.67% , Silver Trust iS, SLV
-0.68% , India PS, PIN
-0.68% , Singapore Index, EWS
-0.74% , Real Estate US DJ iS, IYR
-0.76% , Bond Ex-US Treas, BWX
-0.76% , Foreign LargeCap EAFE MSCI iS, EFA
-0.80% , Canada Index, EWC
-0.81% , Switzerland Index, EWL
-0.82% , Value EAFE MSCI, EFV
-0.88% , Russia MV, RSX
-0.96% , Germany Index, EWG
-1.00% , Dividend ex-U.S. DJ iS, IDV
-1.01% , Thailand MSCI iS, THD
-1.05% , Europe 350 S&P Index, IEV
-1.06% , European VIPERs, VGK
-1.10% , Biotech SPDR, XBI
-1.13% , Homebuilders SPDR, XHB
-1.13% , Metals & Mining SPDR, XME
-1.15% , Basic Materials DJ US, IYM
-1.17% , Belgium Index, EWK
-1.18% , China LargeCap Growth G D H USX PS, PGJ
-1.22% , Pacific ex-Japan, EPP
-1.24% , Materials SPDR, XLB
-1.30% , France Index, EWQ
-1.43% , Gold Shares S.T., GLD
-1.52% , Netherlands Index, EWN
-1.53% , EMU Europe Index, EZU
-1.74% , Australia Index, EWA
-1.80% , Austria Index, EWO
-2.22% , Italy Index, EWI
-2.95% , Spain Index, EWP
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

The S&P 500 Composite Potential Resistance
2019.26, high of 9/19/2014

The S&P 500 Composite Potential Support
1967.36, 50-day SMA
1910.75, 200-day SMA
1904.78, low of 8/7/2014
1859.79, low of 5/7/2014
1850.61, low of 4/28/2014
1820.66, low of 10/15/2014
1813.55, high of 11/29/2013
1737.92, low of 2/5/2014
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
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