Gold, SPDR Gold Shares ETF (GLD), Silver, iShares Silver Trust ETF (SLV), and Copper, iPath DJ-UBS Copper TR Sub-Index ETN (JJC) prices whipsawed down below their 50-day SMAs last week, thereby turning systematically bearish (from neutral).
The S&P 500 Composite Index (SPX: 1,759.77, up 0.44%) absolute price opened higher on Friday and progressed further to the upside in the afternoon to a new all-time high. SPX closed above the open, above the midpoint of the day’s high-low range, and very near the highest level of the day.
Momentum oscillators RSI and MACD based on the S&P 500 remain divergent below previous highs for the year.
Although the Dow-Jones Transportation Average rose to a new high last week, the Dow-Jones Industrial Average remained 0.68% below its high of 9/18/13. And so, the Industrial Average is diverging bearishly and not confirming the bullish trend of the Transportation Average.
NYSE total volume fell 14% to a level 15% 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.
Both the Cumulative Up-Down Volume Line and the Cumulative Daily Advance-Decline Line on the NYSE rose again on Friday and remain systematically bullish, above 50- and 200-day day SMAs. Although the Advance-Decline Line rose above previous highs to confirm the higher high for the S&P 500 Composite Stock Price Index, the Up-Down Volume Line failed to rise above its September high, thereby signaling bearish divergence, which does not support probabilities of a sustainable stock market uptrend.
The new all-time closing price high on 10/25/13 clearly meant that S&P 500 absolute price trends in all time frames were confirmed as bullish, strictly speaking. The SPX made similar higher highs in July, August, and September, however, only to slip back below the May high each time. So, a new high alone is not necessarily a signal for clear sailing ahead. Even as absolute price moved higher, the market has lost considerable upside power over the past few months, as indicated by bearish divergences of momentum oscillators, probably reflecting anticipation of future conditions that are much less obvious than the Fed’s quantitative easing plans or the US political crisis that have dominated the news headlines. (Technical traders need not be concerned with excuses, explanations, and rationales as to why anything may happen, because we know that the full truth is often revealed only after prices already have made their move. The markets tend to move ahead of the news.) A new high followed by another sharp downside reversal like September’s is something we watch out for because it might suggest trend exhaustion–and all trends exhaust, sooner or later. Momentum divergences, low trading volume, excessive bullish sentiment, and prospects for continuing dysfunctional political games remain challenges to a sustainable upside trend.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Stock Market Indicators
The Dow Theory reconfirmed a Primary Tide Bull Market on 9/18/13 when the Dow-Jones Industrial Average and the Dow-Jones Transportation Average both closed at new closing price highs. The day-to-day Minor Ripple trend has turned uncertain since then, however. Although the Dow-Jones Transportation Average rose to a new high last week, the Dow-Jones Industrial Average remained 0.68% below its high of 9/18/13. And so, the Industrial Average is diverging bearishly and not confirming the bullish trend of the Transportation Average.
NASDAQ 100/S&P 500 Relative Strength Ratio (QQQ/SPY) rose to its highest level in 11 months on 10/21/13. QQQ/SPY turned systematically bullish on 8/26/13, when the 50-day SMA crossed above the 200-day SMA. 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) turned systematically bearish (from neutral) on 10/24/13 by falling 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 peaked at 42.29 on 2/1/13, fell to a 20-month low at 32.62 on 6/24/13, and whipsawed back up above its 50-day SMA on 9/4/13, thereby turning systematically neutral (from bearish).
Emerging Markets Stocks ETF (EEM) Relative Strength Ratio (EEM/SPY) whipsawed back up above its 50-day SMA on 9/4/13, thereby turning systematically neutral (from bearish). This ratio is only slightly above its 50-day SMA, however, so EEM/SPY could easily turn bearish again by falling 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 whipsawed back up above its 50-day SMA on 9/4/13, thereby turning systematically neutral (from bearish).
Foreign Stocks ETF (EFA) Relative Strength Ratio (EFA/SPY) whipsawed back up above its 50-day SMA on 9/3/13, thereby turning systematically neutral (from bearish). The 50-day SMA remains below the 200-day SMA. For nearly 6 years, from 11/27/07 to 7/9/13, EFA/SPY underperformed. Absolute price of EFA rose above its 50-day SMA on 9/3/13, thereby turning systematically bullish.
The Largest Cap S&P 100/S&P 500 Relative Strength Ratio (OEF/SPY) whipsawed back down below its 50-day SMA on 9/24/13, thereby turning systematically bearish (from 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) turned systematically bullish (from neutral) on 9/3/13 and rose above its highs of the past 18 months on 10/1/13 to confirm its preexisting bullish trend. 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) turned systematically bullish (from neutral) on 9/24/13 and rose above its highs of the past 27 months on 10/1/13 to confirm its preexisting bullish trend. Absolute price whipsawed back up above its 50-day SMA on 10/10/13, thereby turning systematically bullish (from neutral).
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Tangible Assets, Commodities
U.S. dollar ETF (UUP) price fell below its lows of the previous 23 months on 10/24/13, thereby confirming a major downtrend. Price turned systematically bearish (from neutral) on 9/12/13 when its 50-day SMA crossed below its 200-day SMA. Longer term, 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 turned systematically neutral (from bearish) on 8/26/13, when it rose above 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 3 months on 10/24/13, thereby confirming a medium-term downtrend. Price fell below its 50-day SMA on 9/20/13, thereby turning systematically neutral again (from bullish). Support 34.59, 32.53, 32.12, 30.79, 29.02, 26.28, and 22.74. Resistance 37.59, 39.54, 39.64, 40.29, 41.38, 42.30, and 45.60.
Gold, SPDR Gold Shares ETF (GLD) price has been whipsawing around its 50-day SMA since 7/23/13, going from bearish to neutral and back again. Currently, it is systematically neutral. Support: 121.85, 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 absolute price peaked at 66.98 on 9/9/11. Longer term, GDX/GLD has remained mostly bearish for more than 7 years, since 9/5/06.
Silver, iShares Silver Trust ETF (SLV) price has been whipsawing around its 50-day SMA since 8/9/13, going from bearish to neutral and back again. Currently, it is systematically bearish. Support 19.88, 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) has been whipsawing around its 50-day SMA since 8/9/13, going from bearish to neutral and back again. Currently, it is systematically bearish. 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 whipsawed down below its 50-day SMA on 10/23/13, thereby turning systematically bearish (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.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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
57.37% , CECO , CAREER EDUCATION CORP
8.38% , AVY , AVERY DENNISON
9.39% , AMZN , Amazoncom Inc
4.58% , ETN , EATON
14.01% , QLGC , QLOGIC
1.16% , VPU , Utilities VIPERs, VPU
5.96% , MSFT , MICROSOFT
5.98% , CLF , CLIFFS NATURAL RESOURCES, CLF
1.91% , ADM , ARCHER DANIELS
2.00% , CPWR , COMPUWARE
1.76% , PH , PARKER HANNIFIN
3.60% , WY , WEYERHAEUSER
2.11% , AXP , AMERICAN EXPRESS
0.30% , IWW , Value LargeCap Russell 3000, IWW
2.59% , AON , AON
1.73% , PHO , Water Resources, PHO
2.72% , DTE , DTE ENERGY
2.82% , LM , LEGG MASON
4.54% , NOV , NATIONAL OILWELL VARC0
1.29% , LLL , L-3 COMMS HLDGS
0.22% , BLK , BlackRock Inc.
0.31% , SOXX , Semiconductor iS IGW, SOXX
1.99% , QCOM , QUALCOMM
0.87% , PCL , PLUM CREEK TIMB
1.66% , NWL , NEWELL RUBBER
0.39% , IWB , LargeCap 1000 R, IWB
1.39% , QLD , Ultra QQQ Double, QLD
0.35% , VUG , Growth VIPERs, VUG
2.28% , ITT , ITT INDS
1.33% , GS , GOLDMAN SACHS
1.24% , PLD , PROLOGIS TRUST
1.47% , A , AGILENT TECH
1.91% , INTC , INTEL
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Bearish Stocks: Falling Price and Rising Volume
Ranked by Price Change * Volume Change
% Price Change, Symbol, Name
-10.56% , NCR , NCR
-5.16% , EMN , EASTMAN CHEM
-4.49% , ESRX , EXPRESS SCRIPTS
-2.65% , PBW , WilderHill Clean Energy PS, PBW
-4.12% , SIRI , Sirius Satellite
-2.24% , MCO , MOODYS CORP
-2.95% , FLEX , Flextronics International Ltd
-2.15% , COL , ROCKWELL COLLINS
-2.70% , WYNN , Wynn Resorts L
-1.46% , EWJ , Japan Index, EWJ
-0.59% , VPL , Pacific VIPERs, VPL
-2.34% , PGJ , China LargeCap Growth G D H USX PS, PGJ
-1.16% , HOLX , Hologic, Inc., HOLX
-1.65% , CMI , CUMMINS
-1.35% , EBAY , EBAY
-0.84% , IFF , INTL FLAV & FRAG
-0.65% , LTD , LIMITED BRANDS
-0.94% , NVDA , NVIDIA
-1.42% , PBI , PITNEY BOWES
-1.03% , ROK , ROCKWELL AUTOMAT
-0.76% , PG , PROCTER & GAMBLE
-0.74% , FLR , FLUOR
-1.54% , STLD , Steel Dynamics, STLD
-1.16% , UNP , UNION PACIFIC
-0.29% , EFA , EAFE Index, EFA
-0.24% , EFG , Growth EAFE MSCI, EFG
-0.59% , CHRW.O , CH Robinson Worldwide Inc, CHRWD
-0.43% , ADI.O , ANALOG DEVICES
-1.12% , RFMD , RF Micro Devices Inc
-0.33% , KSS , KOHLS
-0.78% , KSU , Kansas City Southern, KSU
-0.17% , HBAN , HUNTINGTON
-0.46% , PMCS , PMC SIERRA
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
One-Day Ranking of Major ETFs, Ranked from Strongest to Weakest of the Day:
% Price Change, ETF Name, Symbol
2.84% , Indonesia MV, IDX
1.73% , Water Resources, PHO
1.56% , Mexico Index, EWW
1.40% , Realty Cohen & Steers, ICF
1.30% , Malaysia Index, EWM
1.23% , REIT VIPERs, VNQ
1.22% , REIT Wilshire, RWR
1.16% , Utilities VIPERs, VPU
1.06% , Utilities SPDR, XLU
1.01% , Turkey MSCI iS, TUR
0.99% , Real Estate US DJ iS, IYR
0.94% , Oil, Crude, U.S. Oil Fund, USO
0.91% , Thailand MSCI iS, THD
0.89% , Oil Fund PowerShares, DBO
0.78% , Latin Am 40, ILF
0.77% , Capital Markets KWB ST, KCE
0.75% , Consumer Discretionary SPDR, XLY
0.72% , QQQ Nasdaq 100 Trust, QQQ
0.70% , Dividend SPDR, SDY
0.68% , Dividend U.S. DJ iS, DVY
0.66% , Energy Global, IXC
0.64% , Russia MV, RSX
0.61% , Dividend High Yield Equity PS, PEY
0.60% , Energy SPDR, XLE
0.59% , Emerging VIPERs, VWO
0.58% , Value MidCap Russell, IWS
0.55% , MidCap Value S&P 400 iS, IJJ
0.54% , India Earnings WTree, EPI
0.53% , Energy & Nat Res iS GS, IGE
0.52% , Industrial SPDR, XLI
0.52% , LargeCap Growth S&P 500 iS, IVW
0.51% , Technology SPDR, XLK
0.50% , LargeCap Growth Russell 1000 iS, IWF
0.50% , Brazil Index, EWZ
0.50% , LargeCap Blend S&P=Weight R, RSP
0.47% , LargeCap Blend S&P 100, OEF
0.47% , MidCap Russell, IWR
0.47% , Financials VIPERs, VFH
0.47% , India PS, PIN
0.47% , LargeCap Value S&P 500 iS, IVE
0.46% , Emerging Markets MSCI iS, EEM
0.46% , S&P 500 SPDRs LargeCap Blend, SPY
0.45% , LargeCap Blend S&P 500 iS, IVV
0.45% , Australia Index, EWA
0.43% , Financial SPDR, XLF
0.43% , Gold Shares S.T., GLD
0.43% , Dividend ex-U.S. DJ iS, IDV
0.43% , Value VIPERs, VTV
0.42% , DIAMONDS (DJIA), DIA
0.41% , Value LargeCap Dynamic PS, PWV
0.40% , South Africa Index, EZA
0.40% , Pacific ex-Japan, EPP
0.40% , LargeCap VIPERs, VV
0.39% , LargeCap Blend Russell 3000 iS, IWV
0.39% , LargeCap Blend Russell 1000 iS, IWB
0.37% , Bond, 20+ Years Treasury, TLT
0.37% , Energy DJ, IYE
0.36% , Blend Total Market VIPERs, VTI
0.36% , Dividend Appreciation Vipers, VIG
0.36% , LargeCap Value Russell 1000 iS, IWD
0.35% , Growth VIPERs, VUG
0.34% , Technology DJ US, IYW
0.33% , Commodity Tracking, DBC
0.32% , MidCap S&P 400 SPDRs, MDY
0.31% , Semiconductor iS IGW, SOXX
0.31% , Financial DJ US, IYF
0.31% , Info Tech VIPERs, VGT
0.30% , Energy VIPERs, VDE
0.30% , Financial Services DJ, IYG
0.29% , Materials SPDR, XLB
0.28% , Semiconductor SPDR, XSD
0.28% , Dividend International, PID
0.27% , Canada Index, EWC
0.27% , MidCap Blend S&P 400 iS, IJH
0.24% , SmallCap Value Russell 2000 iS, IWN
0.24% , Consumer Staples SPDR, XLP
0.22% , Bond, TIPS U.S. Treasury iS, TIP
0.21% , Telecom DJ US, IYZ
0.19% , Value SmallCap VIPERS, VBR
0.17% , Bond, 10 Year Treasury, IEF
0.17% , Germany Index, EWG
0.17% , Small Cap VIPERs, VB
0.15% , Growth MidCap Russell, IWP
0.15% , Hong Kong Index, EWH
0.14% , Singapore Index, EWS
0.13% , Health Care SPDR, XLV
0.13% , Microcap Russell, IWC
0.13% , Growth SmallCap VIPERs, VBK
0.13% , Metals & Mining SPDR, XME
0.12% , SmallCap Blend S&P 600 iS, IJR
0.12% , SmallCap Value S&P 600 iS, IJS
0.11% , Global LargeCap Blend MSCI iS, ACWI
0.10% , Bond, High-Yield Junk, JNK
0.09% , Switzerland Index, EWL
0.09% , SmallCap Blend Russell 2000 iS, IWM
0.08% , Bond Ex-US Treas, BWX
0.08% , MidCap Growth S&P 400 iS, IJK
0.08% , Agriculture DB PS, DBA
0.07% , SmallCap Growth S&P 600 iS, IJT
0.06% , Belgium Index, EWK
0.05% , Global 100, IOO
0.05% , Emerging 50 BLDRS, ADRE
0.04% , Bond, Intermediate US Aggregate iS, AGG
0.04% , France Index, EWQ
0.03% , Bond, High Yield Corp iBoxx iS, HYG
0.03% , Bond, Muni S&P ATM-Free iS, MUB
0.02% , Bond, 1-3 Year Treasury, SHY
0.02% , European VIPERs, VGK
0.00% , Bond Treasury Short-Term iS, SHV
-0.01% , Bond, Long-Term Corp iBoxx iS, LQD
-0.01% , Bond, Emerging Mkt JPM iS, EMB
-0.03% , Basic Materials DJ US, IYM
-0.05% , Biotech SPDR, XBI
-0.05% , Austria Index, EWO
-0.06% , Financial Preferred, PGF
-0.08% , Preferred Stock iS, PFF
-0.09% , Europe 350 S&P Index, IEV
-0.10% , United Kingdom Index, EWU
-0.12% , China 25 iS, FXI
-0.12% , EMU Europe Index, EZU
-0.14% , Taiwan Index, EWT
-0.15% , SmallCap Growth Russell 2000 iS, IWO
-0.15% , Global ex U.S. LargeCap Blend, ACWX
-0.19% , Chile MSCI iS, ECH
-0.19% , Frontier Markets Guggenheim , FRN
-0.20% , Netherlands Index, EWN
-0.24% , Growth EAFE MSCI, EFG
-0.26% , Homebuilders SPDR, XHB
-0.29% , Foreign LargeCap EAFE MSCI iS, EFA
-0.30% , Value EAFE MSCI, EFV
-0.33% , Transportation Av DJ, IYT
-0.34% , South Korea Index, EWY
-0.34% , Sweden Index, EWD
-0.48% , Bear, Short S&P 500, SH
-0.57% , SmallCap Blend EAFE MSCI iS, SCZ
-0.59% , Networking, IGN
-0.59% , Pacific VIPERs, VPL
-0.73% , Silver Trust iS, SLV
-0.86% , Spain Index, EWP
-1.27% , Italy Index, EWI
-1.46% , Japan Index, EWJ
-2.34% , China LargeCap Growth G D H USX PS, PGJ
-2.65% , WilderHill Clean Energy PS, PBW
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
The S&P 500 Composite Potential Resistance
none
The S&P 500 Composite Potential Support
1740.50, low of 10/23/2013
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
1687.22, 50-day SMA
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
1652.62, Fib 38.2% of Jun-Aug 2013
1652.61, low of 8/16/2013
1646.47, low of 10/9/2013
1635.00, Fib 50.0% of Jun-Aug 2013
1629.05, low of 8/27/2013
1617.38, Fib 61.8% of Jun-Aug 2013
1616.54, 200-day SMA
1606.04, Fib 23.6% of Nov-May 2013
1592.29, Fib 78.6% of Jun-Aug 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
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
