Foreign Stocks ETF (EFA) Relative Strength Ratio (EFA/SPY) fell below 14-month lows and remains bearish.

Gold rose above the highs of the previous 6 months, thereby confirming the bullish trend for the intermediate-term trend. Longer term, Gold remains bullish.

The U.S. dollar nearest futures contract price moved above 11-month high, thereby showing renewed strength. Longer term, USD remains bullish.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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 revealed to be deal stocks, sooner or later, 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
3.94% , DUK , DUKE ENERGY
7.83% , RFMD , RF Micro Devices Inc
1.48% , BDH , Broadband H, BDH
0.98% , SRE , SEMPRA ENERGY
4.55% , MOLX , MOLEX
4.95% , PKI , PERKINELMER
4.16% , S , SPRINT NEXTEL
3.03% , DTE , DTE ENERGY
0.95% , PEY , Dividend High Yield Equity PS, PEY
2.20% , SO , SOUTHERN
4.19% , TMO , THERMO ELECTRON
5.85% , DOW , DOW CHEMICAL
4.72% , PWER , POWER ONE
2.22% , NOC , NORTHROP GRUMMAN
0.72% , PJP , Pharmaceuticals, PJP
1.69% , BRCM , BROADCOM STK A
1.65% , CAH , CARDINAL HEALTH
2.98% , ASH , ASHLAND
2.42% , SYMC , SYMANTEC
1.08% , EWD , Sweden Index, EWD
2.74% , WLP , WELLPOINT HEALTH
2.34% , CVS , CVS
1.19% , GIS , GENERAL MILLS
1.24% , EXC , EXELON CORP
3.98% , WAT , WATERS
0.75% , ININ , Interactive Intelligence ININ
0.81% , ECH , Chile MSCI iS, ECH
1.46% , CECO , CAREER EDUCATION CORP
0.76% , EPU , Peru MSCI iS, EPU
1.90% , CMCSA , COMCAST HOLDINGS STK A
0.47% , ELV , Value Large Cap DJ, ELV
1.69% , CL , COLGATE
1.56% , AYE , ALLEGHENY ENERGY
2.40% , BCR , C R BARD
0.54% , PUI , Utilities, PUI
0.84% , OMC , OMNICOM
2.57% , LEG , LEGGETT & PLATT
0.94% , MCHP , Microchip Technology Incorporated
1.91% , SRCL , Stericycle, SRCL
1.54% , EPP , Pacific ex-Japan, EPP

Bearish Stocks: Falling Price and Rising Volume
Ranked by Price Change * Volume Change
% Price Change, Symbol, Name
-7.68% , PPL , PPL
-10.19% , RHI , ROBERT HALF
-5.30% , AFL , AFLAC
-3.94% , MHS , MEDCO HEALTH
-0.73% , BWX , Bond Ex-US Treas, BWX
-2.40% , PX , PRAXAIR
-1.92% , EWP , Spain Index, EWP
-2.58% , MDP , MEREDITH
-2.22% , TBH , Telebras HOLDRS, TBH
-2.01% , FMCN , Focus Media, FMCN
-2.25% , XL , XL CAPITAL STK A
-1.74% , TEVA , Teva Pharmaceutical Industries Limited
-1.09% , EWN , Netherlands Index, EWN
-2.62% , DRI , DARDEN REST
-1.31% , TMK , TORCHMARK
-0.97% , MU.O , MICRON TECH
-0.96% , PXN , Nanotech Lux, PXN
-0.86% , PWO , OTC Dynamic PS, PWO
-1.64% , WY , WEYERHAEUSER
-0.94% , PZJ , SmallCap PS Zacks, PZJ
-1.64% , GT , GOODYEAR TIRE
-1.16% , CSC , COMPUTER SCIENCE
-0.90% , HHH , Internet H, HHH
-2.46% , BC , BRUNSWICK
-1.72% , BIG , BIG LOTS
-0.45% , PWP , Value MidCap Dynamic PS, PWP
-0.43% , EWQ , France Index, EWQ
-2.70% , ATI , ALLEGHENY TECH
-0.80% , NSC , NORFOLK SOUTHERN
-0.99% , PETM , PETsMART Inc
-0.47% , EWG , Germany Index, EWG
-0.80% , EZU , EMU Europe Index, EZU
-1.27% , DISH , EchoStar Communications
-0.85% , VRSN , VeriSign Inc
-1.59% , IPG , INTERPUBLIC GRP
-0.51% , ETR , ENTERGY
-2.16% , LTD , LIMITED BRANDS
-0.88% , MET , METLIFE
-2.02% , SEE , SEALED AIR
-0.51% , SWH , Software H, SWH

9 major U.S. stock sectors ranked in order of long-term relative strength:

Consumer Discretionary (XLY) Bullish, Overweight. The Relative Strength Ratio (XLY/SPY) rose above 12-year highs on 4/26/10 and remains bullish. Absolute price of XLY rose above 2-year highs on 4/26/10 and remains bullish. Support 33.87, 33.15, 31.94, 31.66, 30.99, 29.90, 29.25, 28.66, 28.21 and 26.62. Resistance and 38.25 and 39.09.

Industrial (XLI) Bullish, Overweight. The Relative Strength Ratio (XLI/SPY) rose above 18-month highs on 4/26/10 and remains bullish. Absolute price of XLI moved above 18-month highs on 4/26/10 and remains bullish. Support 31.73, 31.27, 29.79, 29.60, and 28.15. Resistance 34.24, 34.50, and 35.00.

Technology (XLK) Neutral, Market Weight. The Relative Strength Ratio (XLK/SPY) rose above 3-month highs on 4/27/10 but still remains in the neutral zone. Absolute price moved up to a new 19-month high on 4/26/10 and remains bullish. Support 23.42, 23.07, 22.90, 22.66, 22.52, 21.30, 20.71, 20.46 and 20.09. Resistance 24.68 and 25.69.

Materials (XLB) Neutral, Market Weight. The Relative Strength Ratio (XLB/SPY) fell sharply on 4/27/10 and is now bearish again. Absolute price of XLB briefly moved above 18-month highs on 4/26/10 and remains bullish. Support 33.74, 33.40, 32.85, and 32.58. Resistance 35.16, 35.38 and 37.10.

Financial (XLF) Neutral, Market Weight. The Relative Strength Ratio (XLF/SPY) broke below 6-week lows on 4/27/10 and remains neutral. Support 15.81, 15.52, 15.37, and 15.12. Resistance 16.90, 17.12, 17.16, and 17.87.

Energy (XLE) Neutral, Market Weight. The Relative Strength Ratio (XLE/SPY) fell below 17-month lows on 3/25/10 but since has recovered into the neutral zone. Absolute price of XLE broke out above 18-month highs on 4/23/10 and remains bullish. Support 59.52, 58.58, 58.27, 54.72, 52.67 and 51.34. Resistance 62.73, 69.95, and 78.10.

Consumer Staples (XLP) Neutral, Market Weight. The Relative Strength Ratio (XLP/SPY) broke down below 19-month lows on 4/23/10 and remains bearish. Absolute price of XLP broke down below 6-week lows on 4/27/10 and broke below its 50-day simple moving average. The price trend is now neutral. Support 27.76, 27.23, 26.82, 26.49, 26.04, 25.93 and 25.71. Resistance 28.75, 29.29 and 30.29.

Health Care (XLV) Neutral, Market Weight. The Relative Strength Ratio (XLV/SPY) fell below 18-month lows on 4/26/10 and remains bearish. Absolute price of XLV fell below 2-month lows on 4/27/10 and remains neutral relative to 50- and 200-day averages. Support 30.49, 30.27, and 29.55. Resistance 32.05, 32.18, 32.42, 32.69, 33.16, 33.37 and 33.74.

Utilities (XLU) Neutral, Market Weight. The Relative Strength Ratio (XLU/SPY) fell below 3-year lows on 4/15/10 and remains bearish. Absolute price of XLU rose above 3-month highs on 4/23/10 and remains bullish. Support 29.30, 28.45, and 28.10. Resistance 31.30, 31.64 and 32.08.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Emerging Markets Stocks ETF (EEM) Relative Strength Ratio (EEM/SPY) has been underperforming since 10/14/09. EEM/SPY trend turned bearish on 4/16/10, according to strict moving average analysis. Absolute price of EEM fell below 2-week lows on 4/16/10.

Foreign Stocks ETF (EFA) Relative Strength Ratio (EFA/SPY) fell below 14-month lows on 4/28/10 and remains bearish. Absolute price of EFA fell below the lows of the previous 4 weeks on 4/27/10 and turned neutral relative to 50- and 200-day simple moving averages.

NASDAQ Composite/S&P 500 Relative Strength Ratio rose above 9-year highs on 4/27/10 and remains bullish. Absolute price of the NASDAQ closed above 22-month highs on 4/23/10 and remains bullish.

Growth Stock/Value Stock Relative Strength Ratio (IWF/IWD) fell to a 5-month low on 4/14/10. IWF/IWD remains below both 50- and 200-day simple moving averages. In contrast, absolute price of IWF rose above 18-month highs on 4/23/10 and remains bullish. When relative strength and absolute price trends are in conflict, it may be best to stand aside.

Russell 1000 Value ETF Relative Strength Ratio (IWD/SPY) rose above 6-month highs on 4/14/10 and is bullish. Absolute price of IWD rose above 18-month highs on 4/23/10 and is bullish.

The S&P 500 Equally Weighted ETF Relative Strength Ratio (RSP/SPY) rose above previous 6-year highs on 4/26/10 and remains bullish. Absolute price of RSP rose above 19-month highs on 4/23/10 and remains bullish.

The Largest Cap S&P 100/S&P 500 Relative Strength Ratio (OEX/SPX) fell below the lows of the previous 21 months on 4/26/10 and remains bearish. Absolute price of OEX remains bullish relative to its moving averages.

The Small Cap Russell 2000 Index/Large Cap Relative Strength Ratio (IWM/SPY) rose above 17-month highs on 4/27/10. Absolute price of IWM rose above 17-month highs on 4/26/10. Both remain in bullish position relative to key moving averages.

The S&P MidCap 400/Large Cap Relative Strength Ratio (MDY/SPY) rose above 15-year highs on 4/26/10 and remains bullish. Absolute price of MDY rose above 21-month highs on 4/23/10 and remains bullish.

Crude Oil nearest futures contract price appears to have entered a correction since peaking at 87.09 on 4/6/10. Minor corrections are normal. Longer term, Oil remains bullish. Support 78.86, 77.05, 76.71, 72.60, 69.50, 68.59 and 65.05. Resistance 90.51, 98.65, and 102.84.

Gold nearest futures contract price rose above the highs of the previous 6 months on 4/28/10, thereby confirming the bullish trend for the intermediate-term trend. Longer term, Gold remains bullish. Support 1084.8, 1045.2, 1026.9 and 989.3. Resistance 1170.7, 1196.8 and 1226.4.

Gold Mining Stocks ETF (GDX) Relative Strength Ratio (relative to the Gold bullion ETF, GDX/GLD) jumped up above 3-month highs on 4/28/10, thereby giving a bullish signal for the intermediate-term trend. Absolute price confirmed the Relative Strength Ratio and is bullish.

Silver/Gold Ratio turned down since 4/5/10 and remains neutral.

Copper nearest futures contract price fell below the lows of the previous 4 weeks on 4/27/10, thereby giving a bearish signal for the short-term trend. Copper entered a minor correction since peaking at 3.68 on 4/12/10. Longer term, Copper remains bullish. Strength in Copper suggests renewed hope about prospects for the world economy, while weakness suggests doubts. Support 3.29, 3.1505, 3.034, and 2.811. Resistance 3.795 and 4.27.

U.S. Treasury Bond nearest futures contract price jumped up to a 5-week high on 4/27/10, in an obvious flight to safety. Support 115.15, 114.06. 113.04 and 112.15. Resistance 118.12, 119.18, 120.11 and 123.18.

Junk/Investment-Grade Corporate Bonds Relative Strength Ratio (JNK/LQD) rose above 3-month highs on 4/15/10 and remains bullish. Absolute price of JNK rose above 3-month highs on 4/21/10 and remains bullish.

U.S. Treasury Inflation Protected / U.S. Treasury 7-10 Year Relative Strength Ratio (TIP/IEF) rose to a 2-month high on 4/23/10 and remains bullish. This means investors prefer more inflation protection. Absolute price of TIP rose to a 10-week high on 4/21/10 and remains bullish.

The U.S. dollar nearest futures contract price moved above 11-month high on 4/28/10, thereby showing renewed strength after consolidating gains since peaking at 82.52 on 3/25/10. Longer term, USD remains bullish. Support 80.14, 79.73, 79.61, 78.83, 78.20, 76.74 and 75.90. Resistance 82.52, 83.145 and 83.335.

The Art of Contrary Thinking: The various surveys of investor sentiment are best considered as background factors. The majority of investors can be right for a long time before a major trend finally changes course. The Art of Contrary Thinking is best used together with more precise market timing tools.

Advisory Service Sentiment: There were 54.0% Bulls versus 18.0% Bears as of 4/28/10, according to the weekly Investors Intelligence survey of stock market newsletter advisors. The Bull/Bear ratio rose to 3.00, down from 3.06 the previous week. The current Bull/Bear ratio is near its peak at 3.36 set on 1/13/10, which was the highest bullish sentiment in 6 years. The 20-year range is 0.41 to 3.74, the median is 1.51, and the mean is 1.57.

VIX Fear Index fell to a 33-month low of 15.23 on 4/12/10. A low and falling VIX suggests bullish complacency. VIX is down from a closing high of 80.86 set on 11/20/08. VIX is a market estimate of expected constant 30-day volatility, calculated by weighting S&P 500 Index CBOE option bid/ask quotes spanning a wide range of strike prices for the two nearest expiration dates.

VXN Fear Index fell to a 31-month low of 15.53 on 4/14/10. A low and falling VXN suggests bullish complacency. VXN is down from a closing high of 80.64 set on 11/20/08. VXN measures NASDAQ Volatility using a method comparable to that used for VIX.

ISEE Call/Put Ratio rose to 1.85 on 4/15/10, a high level that indicates extreme bullish sentiment, which might be taken as a sign to be alert. Its 2-year mean is 1.20, and its typical range is 0.69 to 1.71, which represents two standard deviations from the mean.

CBOE Put/Call Ratio fell to 0.32 on 4/14/10, a low level that indicates extreme bullish sentiment, which might be taken as a sign to be alert. The 2-year mean is 0.70, and the typical range is 0.44 to 0.96, which represents two standard deviations from the mean.

The Dow Theory again confirmed a Bullish Major Trend on 4/26/10, when both the Dow-Jones Industrial Average and the Dow-Jones Transportation Average closed above their closing price highs of the previous 18 months. The Dow Theory signaled the current Primary Tide Bull Market on 7/23/09, when both the Dow-Jones Industrial Average and the Dow-Jones Transportation Average closed above their closing price highs of the previous 6 months. That 7/23/09 bullish signal reversed the previous bearish signal: the two Averages signaled a Primary Tide Bear Market on 11/21/07, when both Averages closed below their closing price lows of August 2007.

S&P 500 Composite (SPX) absolute price rose above 18-month highs on 4/23/10, again confirming its bullish trend. Support 1175.12, and 1152.83, 1132.15, and 1111.46. Resistance 1220.03 and 1228.74.

S&P 500 Cash Index Potential Resistance
1576.09, high of 10/11/2007
1552.76, high of 10/31/2007
1523.57, high of 12/11/2007
1498.85, high of 12/26/2007
1440.24, high of 5/19/2008
1406.32, high of 5/29/2008
1381.50, Fibonacci 78.6% of 2007-2009 range
1366.59, high of 6/17/2008
1335.63, high of 6/25/2008
1313.15, high of 8/11/2008
1274.42, high of 9/8/2008
1255.09, high of 9/12/2008
1238.81, Fibonacci 78.6% of 1,576.09 high
1228.74, Fibonacci 61.8% of 2007-2009 range
1220.03, high of 9/25/2008
1219.80, high of 4/26/2010

S&P 500 Cash Index Potential Support
1175.12, low of 4/9/2010
1152.83, Fibonacci 61.8% of 2010 range
1132.15, Gann 50.0% of 2010 range
1111.46, Fibonacci 61.8% of 2010 range
1086.02, low of 2/25/2010
1044.50, low of 2/5/2010
1089.29, Fibonacci 23.6% of 2009-2010 range
1081.54, Gann 25.0% of 2009-2010 range
1029.38, low of 11/2/2009
1019.95, low of 10/2/2009
991.97, low of 9/2/2009
978.51, low of 8/17/2009
1012.42, Gann 37.5% of 2009-2010 range
1008.55, Fibonacci 38.2% of 2009-2010 range
956.23, high of 6/11/2009
943.29, Gann 50.0% of 2009-2010 range
869.32, low of 7/8/2009
878.04, Fibonacci 61.8% of 2009-2010 range
666.79, intraday low of 3/6/2009

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

2.18% Turkey MSCI iS, TUR
1.71% Australia Index, EWA
1.54% Pacific ex-Japan, EPP
1.52% Oil, Crude, U.S. Oil Fund, USO
1.45% Financial SPDR, XLF
1.38% Mexico Index, EWW
1.37% South Korea Index, EWY
1.37% Brazil Index, EWZ
1.34% Financial Services DJ, IYG
1.28% Homebuilders SPDR, XHB
1.27% South Africa Index, EZA
1.22% Metals & Mining SPDR, XME
1.21% Energy DJ, IYE
1.21% Materials SPDR, XLB
1.19% Natural Resource iS GS, IGE
1.14% Basic Materials DJ US, IYM
1.11% Latin Am 40, ILF
1.09% Financial DJ US, IYF
1.09% China 25 iS, FXI
1.08% Sweden Index, EWD
1.03% Financials VIPERs, VFH
1.03% Utilities SPDR, XLU
1.02% Energy SPDR, XLE
1.01% Energy VIPERs, VDE
1.00% Value 1000 Russell, IWD
0.99% Indonesia MV, IDX
0.99% Emerging VIPERs, VWO
0.97% Value VIPERs, VTV
0.96% Value S&P 500 B, IVE
0.95% Dividend High Yield Equity PS, PEY
0.92% Energy Global, IXC
0.89% India PS, PIN
0.87% LargeCap Blend S&P 100, OEF
0.86% Emerging Markets, EEM
0.85% Utilities VIPERs, VPU
0.84% Telecom DJ US, IYZ
0.81% Chile MSCI iS, ECH
0.80% Consumer Staples SPDR, XLP
0.78% Value LargeCap Dynamic PS, PWV
0.78% Semiconductor SPDR, XSD
0.76% S&P 500 SPDRs LargeCap Blend, SPY
0.75% S&P 500 iS LargeCap Blend, IVV
0.73% LargeCap Blend Russell 3000, IWV
0.71% Industrial SPDR, XLI
0.68% Emerging 50 BLDRS, ADRE
0.67% LargeCap 1000 R, IWB
0.67% Value MidCap Russell, IWS
0.66% Blend Total Market VIPERs, VTI
0.65% Health Care SPDR, XLV
0.62% DIAMONDS (DJIA), DIA
0.62% Thailand MSCI iS, THD
0.62% MidCap Russell, IWR
0.57% LargeCap VIPERs, VV
0.57% Growth S&P 500/BARRA, IVW
0.55% Dividend DJ Select, DVY
0.55% LargeCap Blend S&P=Weight R, RSP
0.55% Taiwan Index, EWT
0.52% Dividend SPDR, SDY
0.51% Hong Kong Index, EWH
0.51% Malaysia Index, EWM
0.50% Networking, IGN
0.49% Growth 1000 Russell, IWF
0.48% Dividend Appreciation Vipers, VIG
0.48% Semiconductor iS GS, IGW
0.47% Pacific VIPERs, VPL
0.43% Microcap Russell, IWC
0.41% Agriculture DB PS, DBA
0.40% Capital Markets KWB ST, KCE
0.38% Russia MV, RSX
0.38% Growth VIPERs, VUG
0.37% Realty Cohen & Steers, ICF
0.35% Value MidCap S&P 400 B, IJJ
0.34% Real Estate US DJ, IYR
0.34% India Earnings WTree, EPI
0.34% Biotech SPDR, XBI
0.33% Commodity Tracking, DBC
0.32% China LargeCap Growth G D H USX PS, PGJ
0.31% REIT VIPERs, VNQ
0.30% SmallCap S&P 600, IJR
0.30% Growth MidCap Russell, IWP
0.30% Technology SPDR, XLK
0.29% Value SmallCap Russell 2000, IWN
0.29% MidCap S&P 400 SPDRs, MDY
0.28% Water Resources, PHO
0.27% Value SmallCap VIPERS, VBR
0.26% Info Tech VIPERs, VGT
0.25% Singapore Index, EWS
0.25% Transportation Av DJ, IYT
0.25% Canada Index, EWC
0.24% MidCap S&P 400 iS, IJH
0.22% Global ex US ACWI iS, ACWX
0.19% Small Cap VIPERs, VB
0.19% REIT Wilshire, RWR
0.18% Global 100, IOO
0.17% Bond, Corp, LQD
0.17% SmallCap Russell 2000, IWM
0.17% Technology DJ US, IYW
0.14% Bond Muni ATM-Free S&P iS, MUB
0.12% United Kingdom Index, EWU
0.07% Value SmallCap S&P 600 B, IJS
0.07% Bond, High-Yield Corporate, HYG
0.06% Growth LargeCap NASDAQ 100, QQQQ
0.03% Growth MidCap 400 B, IJK
0.03% Growth SmallCap R 2000, IWO
0.02% EAFE Index, EFA
0.00% Growth BARRA Small Cap 600, IJT
0.00% WilderHill Clean Energy PS, PBW
-0.01% Growth SmallCap VIPERs, VBK
-0.02% Bond, 1-3 Year Treasury, SHY
-0.04% Value EAFE MSCI, EFV
-0.05% Preferred Stock iS, PFF
-0.15% Bond, Aggregate, AGG
-0.20% Bond, TIPS, TIP
-0.24% Growth EAFE MSCI, EFG
-0.25% Bond EmrgMkt JPM iS, EMB
-0.28% Gold Shares S.T., GLD
-0.29% Financial Preferred, PGF
-0.32% European VIPERs, VGK
-0.34% Consumer Discretionary SPDR, XLY
-0.35% Dividend International, PID
-0.39% Japan Index, EWJ
-0.43% France Index, EWQ
-0.47% Germany Index, EWG
-0.49% Europe 350 S&P Index, IEV
-0.51% Bond, 10 Year Treasury, IEF
-0.54% Value SmallCap S&P 600, RZV
-0.73% Silver Trust iS, SLV
-0.73% Bond Ex-US Treas, BWX
-0.80% EMU Europe Index, EZU
-0.82% Switzerland Index, EWL
-0.85% Bond, 20+ Years Treasury, TLT
-1.06% Small Cap EAFE MSCI iS, SCZ
-1.09% Netherlands Index, EWN
-1.12% Italy Index, EWI
-1.62% Austria Index, EWO
-1.63% Belgium Index, EWK
-1.92% Spain Index, EWP