Energy and Financial Sectors are underperforming.

Energy Sector SPDR ETF Relative Strength Ratio (XLE/SPY) fell below 7-year lows on 11/18/14, thereby reconfirming its preexisting major downtrend.

Financial SPDR ETF (XLF) Relative Strength Ratio peaked on 10/14/14 and has underperformed over the past month. When Financials underperform, it is a warning for the general market.

The S&P Mid Cap 400/Large Cap Relative Strength Ratio (MDY/SPY) fell below its lows of the previous 4 weeks on 11/18/14, suggesting renewed bearish momentum.

Junk/Investment-Grade Corporate Bond ETFs Relative Strength Ratio (JNK/LQD) fell below its lows of the previous 4 weeks on 11/18/14, suggesting renewed bearish momentum. Absolute price of JNK also broke down below 4-week lows.

iShares MSCI BRIC Fund (BKF) Relative Strength Ratio (BKF/SPY) broke down below its lows of the previous 8 months.

Emerging Markets Stocks ETF (EEM) Relative Strength Ratio (EEM/SPY) broke down below its lows of the previous 9 years on 11/18/14, thereby reconfirming its preexisting systematically bearish trend.

The S&P 500 Composite Index (SPX) opened higher and rose further until easing mildly lower in the final hour on Tuesday. SPX set a new record high and reasserted some of its previously lost upside momentum.

NYSE total volume rose 8% to a level 3% 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.

U.S. 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 remain, 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 11/10/14 when the both the Dow-Jones Industrial Average and the Dow-Jones Transportation Average rose to new all-time closing price highs.

NASDAQ 100 ETF/S&P 500 ETF Relative Strength Ratio (QQQ/SPY) rose above its highs of the previous 14 years on 11/14/14 and remains systematically bullish. In addition, QQQ absolute price closed at a new high remains systematically bullish.

iShares MSCI BRIC Fund (BKF) Relative Strength Ratio (BKF/SPY) broke down below its lows of the previous 8 months on 11/18/14, thereby reconfirming its preexisting systematically bearish trend. 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 9 years on 11/18/14, thereby reconfirming its preexisting systematically bearish trend. 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 11/12/14, thereby reconfirming its preexisting systematically bearish trend. 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) lost bullish momentum since peaking on 10/13/14 and remains neutral. 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 relatively 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 4 weeks on 11/18/14, suggesting renewed bearish momentum. 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 relatively 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 118.21, 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 104.45, 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: 108.88, 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 4 weeks on 11/18/14, suggesting renewed bearish momentum. JNK/LQD fell below its lows of the previous 23 months on 10/15/14. JNK/LQD 50-day SMA crossed below the 200-day SMA on 4/1/14 turning systematically bearish. Absolute price of JNK broke down below 4-week lows on 11/18/14. Price 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 3 years on 11/6/14, 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 22.45, 21.66, 21.07, and 20.84. Resistance 23.44, 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 broke down below its lows of the previous 5 years on 11/13/14, thereby reconfirming its preexisting downtrend. Support 22.74, 16.70, and 10.35. Resistance 30.17, 31.63, 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 4 years on 11/5/14, thereby reconfirming its preexisting downtrend. Support: 102.28 and 84.92. Resistance: 120.50, 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 11/5/14, thereby reconfirming its preexisting downtrend. Absolute price of GDX fell below its lows of the previous 5 years on 10/31/14.

Silver, iShares Silver Trust ETF (SLV) absolute price fell below its lows of the previous 4 years on 11/5/14, thereby reconfirming its preexisting downtrend. Support 14.37, 12.27, 11.64, and 8.45. Resistance: 17.09, 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 11/5/14, 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
5.60% , SIL , Silver Miners Global X, SIL
1.22% , MVV , Ultra MidCap400 Double, MVV
3.94% , DISH , EchoStar Communications
4.74% , MDT , MEDTRONIC
0.60% , IJH , MidCap S&P 400 iS, IJH
2.72% , ISIL , INTERSIL CORP
1.13% , IYM , Basic Materials DJ US, IYM
2.65% , ALTR , ALTERA
2.24% , BSX , BOSTON SCIENT
2.40% , ERIC.O , LM Ericsson Telephone Company
0.70% , PWB , Lg Cap Growth PSD, PWB
3.55% , EA.O , ELECTRONIC ARTS
2.00% , CAG , CONAGRA FOODS
1.86% , DOW , DOW CHEMICAL
1.84% , SYK , STRYKER
1.42% , KO , COCA COLA
3.00% , RFMD , RF Micro Devices Inc
2.26% , HSP , HOSPIRA
2.78% , SNDK , SanDisk Corporation
0.91% , FLEX , Flextronics International Ltd
1.38% , EWJ , Japan Index, EWJ
3.66% , FLR , FLUOR
1.41% , VGK , European VIPERs, VGK
0.46% , PEJ , Leisure & Entertainment, PEJ
0.85% , MCHP , Microchip Technology Incorporated
1.75% , TMO , THERMO ELECTRON
0.44% , RPV , Value S&P 500, RPV
1.37% , INTC , INTEL
0.61% , IVV , S&P 500 iS LargeCap Blend, IVV
1.28% , EL , Estee Lauder
1.74% , BA , BOEING
1.67% , VMC , VULCAN MATERIALS
1.09% , EFA , EAFE Index, EFA
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Bearish Stocks: Falling Price and Rising Volume
Ranked by Price Change * Volume Change
% Price Change, Symbol, Name
-5.90% , CLF , CLIFFS NATURAL RESOURCES, CLF
-6.62% , URBN , Urban Outfitters Inc.
-2.24% , RSH , RADIOSHACK
-1.07% , A , AGILENT TECH
-1.53% , TYC , TYCO INTL
-1.02% , CTXS , CITRIX SYSTEMS
-0.52% , VRTX , Vertex Pharmaceuticals, VRTX
-0.52% , EWT , Taiwan Index, EWT
-2.09% , HD , HOME DEPOT
-0.34% , STJ , ST JUDE MEDICAL
-1.64% , EWH , Hong Kong Index, EWH
-0.87% , KSU , Kansas City Southern, KSU
-1.11% , BBY , BEST BUY
-0.91% , CMA , COMERICA
-0.01% , SHY , Bond, 1-3 Year Treasury, SHY
-0.61% , LOW , LOWES
-0.75% , AMD , ADV MICRO DEV
-0.10% , NI , NISOURCE
-0.20% , JNK , Bond, High-Yield Junk, JNK
-0.28% , GOOG , Google
-0.07% , ROST , Ross Stores Inc
-0.32% , LM , LEGG MASON
-0.09% , VRSN , VeriSign Inc
-0.02% , ABT , ABBOTT LABS
-0.01% , FDO , FAMILY DLR STRS
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

One-Day Ranking of Major ETFs, Ranked from Strongest to Weakest of the Day:
% Price Change, ETF Name, Symbol
2.88% , WilderHill Clean Energy PS, PBW
2.45% , Germany Index, EWG
2.21% , Brazil Index, EWZ
2.05% , Semiconductor SPDR, XSD
1.99% , Sweden Index, EWD
1.97% , Spain Index, EWP
1.96% , Semiconductor iS IGW, SOXX
1.95% , Austria Index, EWO
1.86% , EMU Europe Index, EZU
1.78% , Biotech SPDR, XBI
1.73% , France Index, EWQ
1.72% , Indonesia MV, IDX
1.63% , Turkey MSCI iS, TUR
1.61% , Health Care SPDR, XLV
1.55% , Latin Am 40, ILF
1.43% , Belgium Index, EWK
1.41% , European VIPERs, VGK
1.39% , Europe 350 S&P Index, IEV
1.38% , Japan Index, EWJ
1.32% , Italy Index, EWI
1.29% , Netherlands Index, EWN
1.20% , Materials SPDR, XLB
1.17% , Growth EAFE MSCI, EFG
1.17% , South Africa Index, EZA
1.15% , Thailand MSCI iS, THD
1.14% , Switzerland Index, EWL
1.13% , Basic Materials DJ US, IYM
1.12% , Dividend ex-U.S. DJ iS, IDV
1.11% , Value EAFE MSCI, EFV
1.09% , Foreign LargeCap EAFE MSCI iS, EFA
1.08% , Water Resources, PHO
1.06% , SmallCap Blend EAFE MSCI iS, SCZ
1.04% , Networking, IGN
0.97% , Russia MV, RSX
0.94% , Global ex U.S. LargeCap Blend, ACWX
0.88% , Malaysia Index, EWM
0.88% , Gold Shares S.T., GLD
0.78% , South Korea Index, EWY
0.78% , Pacific VIPERs, VPL
0.77% , Global 100, IOO
0.76% , SmallCap Growth Russell 2000 iS, IWO
0.75% , Growth VIPERs, VUG
0.75% , Growth MidCap Russell, IWP
0.75% , QQQ Nasdaq 100 Trust, QQQ
0.75% , Industrial SPDR, XLI
0.74% , Global LargeCap Blend MSCI iS, ACWI
0.73% , MidCap Russell, IWR
0.72% , LargeCap Growth S&P 500 iS, IVW
0.69% , Growth SmallCap VIPERs, VBK
0.68% , Singapore Index, EWS
0.67% , India PS, PIN
0.66% , Value MidCap Russell, IWS
0.66% , Dividend International, PID
0.63% , LargeCap Blend S&P=Weight R, RSP
0.63% , LargeCap Growth Russell 1000 iS, IWF
0.63% , Canada Index, EWC
0.61% , LargeCap VIPERs, VV
0.61% , LargeCap Blend S&P 500 iS, IVV
0.60% , Dividend Appreciation Vipers, VIG
0.60% , MidCap Blend S&P 400 iS, IJH
0.59% , LargeCap Blend Russell 3000 iS, IWV
0.59% , Blend Total Market VIPERs, VTI
0.58% , Small Cap VIPERs, VB
0.58% , United Kingdom Index, EWU
0.58% , SmallCap Blend Russell 2000 iS, IWM
0.58% , S&P 500 SPDRs LargeCap Blend, SPY
0.57% , Microcap Russell, IWC
0.57% , Info Tech VIPERs, VGT
0.56% , LargeCap Blend Russell 1000 iS, IWB
0.56% , India Earnings WTree, EPI
0.55% , Capital Markets KWB ST, KCE
0.54% , MidCap S&P 400 SPDRs, MDY
0.54% , MidCap Growth S&P 400 iS, IJK
0.54% , Emerging Markets MSCI iS, EEM
0.53% , Technology DJ US, IYW
0.52% , Value SmallCap VIPERS, VBR
0.50% , Emerging VIPERs, VWO
0.50% , MidCap Value S&P 400 iS, IJJ
0.49% , LargeCap Value Russell 1000 iS, IWD
0.48% , SmallCap Blend S&P 600 iS, IJR
0.48% , Real Estate US DJ iS, IYR
0.48% , REIT Wilshire, RWR
0.46% , SmallCap Growth S&P 600 iS, IJT
0.45% , LargeCap Blend S&P 100, OEF
0.45% , Value LargeCap Dynamic PS, PWV
0.45% , SmallCap Value S&P 600 iS, IJS
0.44% , Value VIPERs, VTV
0.44% , LargeCap Value S&P 500 iS, IVE
0.43% , REIT VIPERs, VNQ
0.40% , SmallCap Value Russell 2000 iS, IWN
0.40% , Dividend U.S. DJ iS, DVY
0.39% , Realty Cohen & Steers, ICF
0.37% , Consumer Staples SPDR, XLP
0.37% , Energy Global, IXC
0.37% , Emerging 50 BLDRS, ADRE
0.36% , Dividend SPDR, SDY
0.34% , Technology SPDR, XLK
0.33% , Financial SPDR, XLF
0.33% , Frontier Markets Guggenheim , FRN
0.32% , Silver Trust iS, SLV
0.32% , Transportation Av DJ, IYT
0.30% , Utilities VIPERs, VPU
0.29% , Utilities SPDR, XLU
0.28% , Bond, 20+ Years Treasury, TLT
0.28% , Financials VIPERs, VFH
0.27% , DIAMONDS (DJIA), DIA
0.26% , Energy & Nat Res iS GS, IGE
0.25% , Homebuilders SPDR, XHB
0.24% , Financial DJ US, IYF
0.21% , Bond Ex-US Treas, BWX
0.19% , Bond, Emerging Mkt JPM iS, EMB
0.19% , Consumer Discretionary SPDR, XLY
0.17% , Financial Services DJ, IYG
0.16% , Financial Preferred, PGF
0.15% , Dividend High Yield Equity PS, PEY
0.11% , Bond, 10 Year Treasury, IEF
0.10% , Energy DJ, IYE
0.09% , Bond, Intermediate US Aggregate iS, AGG
0.09% , Bond, TIPS U.S. Treasury iS, TIP
0.08% , Bond, Long-Term Corp iBoxx iS, LQD
0.08% , Metals & Mining SPDR, XME
0.08% , Energy SPDR, XLE
0.08% , Australia Index, EWA
0.07% , Chile MSCI iS, ECH
0.05% , Energy VIPERs, VDE
0.03% , Telecom DJ US, IYZ
0.03% , Preferred Stock iS, PFF
0.00% , Bond, Muni S&P ATM-Free iS, MUB
0.00% , Bond Treasury Short-Term iS, SHV
-0.01% , Bond, 1-3 Year Treasury, SHY
-0.20% , Bond, High Yield Corp iBoxx iS, HYG
-0.20% , Bond, High-Yield Junk, JNK
-0.27% , Pacific ex-Japan, EPP
-0.27% , Mexico Index, EWW
-0.38% , China LargeCap Growth G D H USX PS, PGJ
-0.51% , Commodity Tracking, DBC
-0.52% , Taiwan Index, EWT
-0.54% , Agriculture DB PS, DBA
-0.63% , Bear, Short S&P 500, SH
-1.10% , China 25 iS, FXI
-1.64% , Oil Fund PowerShares, DBO
-1.64% , Hong Kong Index, EWH
-1.67% , Oil, Crude, U.S. Oil Fund, USO
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

The S&P 500 Composite Potential Resistance
2056.08, high of 11/18/2014

The S&P 500 Composite Potential Support
1976.44, 50-day SMA
1926.52, 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