Crude Oil, United States Oil ETF (USO) price rose further above its highs of the previous 15 months on 9/6/13, again confirming its preexisting systematically bullish trend.
U.S. dollar ETF (UUP) whipsawed back down below its 50-day SMA on 9/6/13, thereby turning systematically neutral again (from bullish).
U.S. Treasury Inflation Protected / U.S. Treasury 7-10 Year ETFs Relative Strength Ratio (TIP/IEF) turned systematically bearish (from neutral) on 9/6/13, when it crossed below the 50-day SMA.
On Friday, U.S. stock market price indexes gapped open above the highs of the previous 7 trading days. After the first 12 minutes, however, prices reversed sharply to the downside, quickly breaking down below the previous day’s low. At 10:04 a.m., prices reversed to the upside and continued to rise to a higher intraday high. At 2:08 p.m., prices reversed to the downside again, surrendering gains into a mixed close.
Violent price swings and sudden changes in direction are typical of volatile markets facing significant uncertainties, such as possible war.
S&P 500 Composite Index (SPX: 1,655.17, up 0.01%) closed below the open, moderately above the midpoint of the day’s relative large high-low range, and below its widely-watched 50-day SMA.
MACD(12,26,9), a popular short-term daily price momentum oscillator based on SPX, moved slightly higher for the third consecutive day, suggesting diminishing downside price momentum for the very short-term, day-to-day action. Previously, MACD had been trending straight down for nearly a month, falling to its lowest level in 9 months on Tuesday 9/3/13.
For the medium term, SPX remains below its highs of May, July, and August, suggesting neutral/sideways price momentum at best. A large number of technical indicators agree that the stock market has lost significant upside momentum in recent months, and especially in recent weeks.
NYSE total volume rose 8% to a level 5% 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 Up-Down Volume Line on the NYSE and the Cumulative Daily Advance-Decline Line on the NYSE both rose moderately on Friday, but both remain systematically neutral below their 50-day SMAs. Previously, both failed to rise above their May highs when the S&P 500 rose to a new high at 1,709.67 on 8/2/13. Therefore, both Volume and Breadth warned of bearish divergence ahead of the downturn of the price indexes.
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Stock Market Indicators
The Dow Theory reconfirmed a Primary Tide Bull Market on 8/1/13, when the Dow-Jones Industrial Average and the Dow-Jones Transportation Average both closed at new closing price highs. The action since then looks like a developing Secondary Reaction to the downside, however. On 8/27/13, both Averages fell below their lows of the previous 7 weeks. Apart from the strict form of the Dow Theory, the Transportation Average whipsawed back down below its 50-day SMAs again on 8/27/13 to confirm similar weakness in the Industrial Average, which has remained below its 50-day SMA every day since 8/15/13. Both Averages remain systematically neutral.
NASDAQ 100/S&P 500 Relative Strength Ratio (QQQ/SPY) turned systematically bullish on 8/26/13, when the 50-day SMA crossed above the 200-day SMA. QQQ/SPY rose above its highest levels of the past 6 months on 8/29/13. Absolute price of QQQ rose above its 50-day SMA on 7/5/13, thereby turning systematically bullish (from neutral).
iShares MSCI BRIC Fund (BKF) Relative Strength Ratio (BKF/SPY) whipsawed back up above its 50-day SMA on 8/30/13, thereby turning systematically neutral (from bearish). The 50-day SMA remains far below the 200-day SMA, and BKF/SPY fell below the lows of the previous 4 years on 8/7/13. 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). The 50-day SMA remains far below the 200-day SMA, and EEM/SPY fell below the lows of the previous 4 years on 7/10/13. 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. This year, absolute price of EFA peaked at 64.14 on 5/22/13, fell to a 6-month low at 56.44 on 6/24/13, and whipsawed back up above its 50-day SMA on 9/3/13, thereby turning systematically bullish (from neutral).
The Largest Cap S&P 100/S&P 500 Relative Strength Ratio (OEF/SPY) whipsawed back down below its 50-day SMA on 8/20/13, 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) is systematically bullish. IWM/SPY whipsawed back up above its 50-day SMA on 9/3/13, thereby turning systematically bullish (from neutral). Absolute price whipsawed around its 50-day SMA since 8/19/13 and is currently systematically neutral below the 50-day SMA.
The S&P Mid Cap 400/Large Cap Relative Strength Ratio (MDY/SPY) is systematically neutral. MDY/SPY fell below its 50-day SMA on 8/30/13, thereby turning systematically neutral (from bullish). Absolute price whipsawed around its 50-day SMA since 8/19/13 and is currently systematically neutral below the 50-day SMA.
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Tangible Assets, Commodities
U.S. dollar ETF (UUP) whipsawed back down below its 50-day SMA on 9/6/13, thereby turning systematically neutral again (from bullish). Longer term, UUP has been consolidating secular trend losses since bottoming at 20.84 on 5/4/11. Support 21.82, 21.53, 21.07, and 20.84. Resistance 22.98, 23.14, 23.52, 25.84, 27.19, and 28.97.
Agriculture, PowerShares DB Agriculture Fund ETF (DBA) price rose above its highs of the previous 9 weeks and whipsawed above its 50-day SMA on 8/26/13, thereby turning systematically neutral (from bearish). Longer term, however, DBA fell below its lows of the past 3 years on 8/2/13 and has been trending down since peaking on 3/4/11.
Crude Oil, United States Oil ETF (USO) price rose further above its highs of the previous 15 months on 9/6/13, again confirming its preexisting systematically bullish trend. Support 38.14, 36.99, 36.35, 32.53, 32.12, 30.79, 29.02, 26.28, and 22.74. Resistance 39.64, 40.29, 41.38, 42.30, and 45.60.
Gold, SPDR Gold Shares ETF (GLD) price rose above its highs of the previous 11 weeks on 8/27/13. The GLD price trend turned systematically neutral (from bearish) on 8/12/13 when price rose above its 50-day SMA. The 50-day SMA remains far below the 200-day SMA, however, so GLD is far from turning systematically bullish. Support: 131.51, 123.55, 122.73, 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 12/27/12, when the 50-day SMA crossed below the 200-day SMA. Longer term, GDX/GLD has remained mostly bearish for more than 6 years, since 9/5/06.
Silver, iShares Silver Trust ETF (SLV) price rose above its highs of the previous 16 weeks on 8/27/13. SLV price trend turned systematically neutral (from bearish) on 8/12/13 when price rose above its 50-day SMA. The 50-day SMA remains well below the 200-day SMA, however, so SLV is far from turning systematically bullish. Support 22.02, 18.71, 17.75, 16.73, 14.37, 12.27, 11.64, and 8.45. Resistance: 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) rose above its highs of the previous 19 weeks on 8/26/13. SLV/GLD crossed back above its 50-day SMA on 8/9/13, thereby turning systematically neutral (from bearish). SLV underperformed GLD for more than 2 years from 4/28/11 to 7/30/13.
Copper, iPath DJ-UBS Copper TR Sub-Index ETN (JJC) price crossed back above its 50-day SMA on 8/8/13, thereby turning systematically neutral (from bearish). The 50-day SMA remains well below the 200-day SMA, however, so JJC is far from turning systematically bullish. 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
4.55% , ERIC.O , LM Ericsson Telephone Company
2.99% , AES , AES
0.46% , BMC.O , BMC SOFTWARE
1.56% , EWS , Singapore Index, EWS
3.06% , STJ , ST JUDE MEDICAL
0.32% , IXJ , Healthcare Global, IXJ
3.32% , GNTX , Gentex Corporation
1.28% , EWP , Spain Index, EWP
0.38% , EWO , Austria Index, EWO
1.66% , CPWR , COMPUWARE
4.69% , AMD , ADV MICRO DEV
1.73% , USO , Oil, Crude, U.S. Oil Fund, USO
1.66% , TUR , Turkey MSCI iS, TUR
1.04% , BWX , Bond Ex-US Treas, BWX
3.40% , MCO , MOODYS CORP
1.26% , XHB , Homebuilders SPDR, XHB
2.51% , EQR , EQUITY RESIDENT BEN INT
0.42% , VPU , Utilities VIPERs, VPU
3.18% , ECH , Chile MSCI iS, ECH
2.14% , KBH , KB HOME
4.57% , ETFC , E*TRADE FINANCIAL
1.69% , EBAY , EBAY
2.16% , TLAB , TELLABS
1.83% , IYR , Real Estate US DJ, IYR
1.75% , EWY , South Korea Index, EWY
0.61% , EPP , Pacific ex-Japan, EPP
1.98% , EWW , Mexico Index, EWW
1.68% , SYK , STRYKER
0.87% , EMB , Bond EmrgMkt JPM iS, EMB
2.30% , APOL , APOLLO GROUP
2.02% , BIDU , Baidu, Inc., BIDU
1.97% , CTSH , Cognizant Technology Solutions
2.70% , WY , WEYERHAEUSER
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Bearish Stocks: Falling Price and Rising Volume
Ranked by Price Change * Volume Change
% Price Change, Symbol, Name
-3.32% , EA.O , ELECTRONIC ARTS
-2.08% , MTG , MGIC INVESTMENT
-1.03% , TDC , Teradata Corporation, TDC
-1.02% , CHKP , Check Point Software Technologies Ltd
-1.88% , MBI , MBIA
-1.23% , LBTYA , Liberty Global Inc. (LBTYA)
-0.93% , CINF , CINCINNATI FIN
-1.21% , BBT , BB&T
-0.82% , PPG , PPG INDUSTRIES
-1.22% , GNW , GENWORTH FINANCIAL
-1.06% , CMA , COMERICA
-1.24% , WOR , WORTHINGTON INDS
-1.03% , ISIL , INTERSIL CORP
-0.77% , UNP , UNION PACIFIC
-0.87% , DD , DU PONT
-1.32% , SIRI , Sirius Satellite
-0.72% , CTL , CENTURYTEL
-1.28% , C , CITIGROUP
-1.00% , GRMN , GARMIN LTD
-1.35% , PPL , PPL
-0.96% , SHW , SHERWIN WILLIAMS
-0.49% , RL , Polo Ralph Lauren
-0.30% , QID , Short 200% QQQ PS, QID
-0.21% , SDS , Short 200% S&P 500 PS, SDS
-1.01% , LXK , LEXMARK INTL STK A
-0.31% , DPS , Dr Pepper Snapple Group
-0.93% , WFC , WELLS FARGO
-0.19% , PSQ , Short 100% QQQ, PSQ
-0.58% , DHR , DANAHER
-0.27% , LNC , LINCOLN NATL
-0.67% , SBUX , STARBUCKS
-1.19% , SCHW.K , CHARLES SCHWAB, SCHW.O
-1.11% , BIIB , BIOGEN IDEC
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One-Day Ranking of Major ETFs, Ranked from Strongest to Weakest of the Day:
% Price Change, ETF Name, Symbol
3.18% , Chile MSCI iS, ECH
3.12% , Indonesia MV, IDX
3.02% , Thailand MSCI iS, THD
2.83% , India PS, PIN
2.64% , Silver Trust iS, SLV
2.60% , South Africa Index, EZA
2.47% , India Earnings WTree, EPI
2.32% , Brazil Index, EWZ
2.03% , Latin Am 40, ILF
1.98% , Mexico Index, EWW
1.89% , Frontier Markets Guggenheim , FRN
1.83% , Real Estate US DJ iS, IYR
1.80% , Realty Cohen & Steers, ICF
1.75% , South Korea Index, EWY
1.73% , Oil, Crude, U.S. Oil Fund, USO
1.66% , Turkey MSCI iS, TUR
1.65% , REIT Wilshire, RWR
1.56% , Singapore Index, EWS
1.55% , REIT VIPERs, VNQ
1.48% , Gold Shares S.T., GLD
1.46% , Emerging Markets MSCI iS, EEM
1.36% , Emerging VIPERs, VWO
1.28% , Spain Index, EWP
1.26% , Homebuilders SPDR, XHB
1.15% , France Index, EWQ
1.09% , Emerging 50 BLDRS, ADRE
1.04% , Sweden Index, EWD
1.04% , Bond Ex-US Treas, BWX
0.91% , Italy Index, EWI
0.90% , Metals & Mining SPDR, XME
0.87% , Bond, Emerging Mkt JPM iS, EMB
0.85% , EMU Europe Index, EZU
0.84% , Switzerland Index, EWL
0.78% , Dividend ex-U.S. DJ iS, IDV
0.71% , China LargeCap Growth G D H USX PS, PGJ
0.71% , Utilities SPDR, XLU
0.69% , Belgium Index, EWK
0.68% , Global ex U.S. LargeCap Blend, ACWX
0.65% , European VIPERs, VGK
0.64% , Canada Index, EWC
0.64% , Europe 350 S&P Index, IEV
0.62% , Value EAFE MSCI, EFV
0.62% , Australia Index, EWA
0.61% , Pacific ex-Japan, EPP
0.61% , Bond, 10 Year Treasury, IEF
0.59% , Russia MV, RSX
0.57% , Commodity Tracking, DBC
0.54% , Foreign LargeCap EAFE MSCI iS, EFA
0.50% , Germany Index, EWG
0.50% , Oil Fund PowerShares, DBO
0.50% , Bond, 20+ Years Treasury, TLT
0.48% , Agriculture DB PS, DBA
0.45% , Capital Markets KWB ST, KCE
0.44% , Netherlands Index, EWN
0.44% , SmallCap Blend EAFE MSCI iS, SCZ
0.42% , Utilities VIPERs, VPU
0.42% , Dividend International, PID
0.42% , Malaysia Index, EWM
0.41% , Bond, TIPS U.S. Treasury iS, TIP
0.40% , China 25 iS, FXI
0.40% , Growth EAFE MSCI, EFG
0.38% , Austria Index, EWO
0.37% , Bond, Intermediate US Aggregate iS, AGG
0.35% , Japan Index, EWJ
0.33% , Bond, High Yield Corp iBoxx iS, HYG
0.33% , Global 100, IOO
0.33% , Global LargeCap Blend MSCI iS, ACWI
0.32% , Small Cap VIPERs, VB
0.31% , Energy & Nat Res iS GS, IGE
0.31% , Water Resources, PHO
0.31% , Bond, High-Yield Junk, JNK
0.29% , Growth SmallCap VIPERs, VBK
0.29% , Value MidCap Russell, IWS
0.28% , MidCap S&P 400 SPDRs, MDY
0.28% , Pacific VIPERs, VPL
0.27% , SmallCap Blend Russell 2000 iS, IWM
0.26% , Networking, IGN
0.25% , Consumer Staples SPDR, XLP
0.25% , SmallCap Value Russell 2000 iS, IWN
0.25% , SmallCap Value S&P 600 iS, IJS
0.25% , Energy Global, IXC
0.23% , MidCap Blend S&P 400 iS, IJH
0.21% , Taiwan Index, EWT
0.21% , Biotech SPDR, XBI
0.21% , United Kingdom Index, EWU
0.21% , MidCap Russell, IWR
0.20% , Info Tech VIPERs, VGT
0.20% , MidCap Growth S&P 400 iS, IJK
0.20% , Bond, Muni S&P ATM-Free iS, MUB
0.19% , Dividend High Yield Equity PS, PEY
0.18% , Financial Preferred, PGF
0.17% , Growth VIPERs, VUG
0.15% , Hong Kong Index, EWH
0.14% , Bond, Long-Term Corp iBoxx iS, LQD
0.14% , MidCap Value S&P 400 iS, IJJ
0.14% , Financial DJ US, IYF
0.14% , SmallCap Blend S&P 600 iS, IJR
0.13% , Dividend SPDR, SDY
0.12% , Dividend U.S. DJ iS, DVY
0.12% , QQQ Nasdaq 100 Trust, QQQ
0.11% , Preferred Stock iS, PFF
0.11% , LargeCap VIPERs, VV
0.10% , Value SmallCap VIPERS, VBR
0.10% , Energy VIPERs, VDE
0.10% , LargeCap Blend Russell 3000 iS, IWV
0.10% , SmallCap Growth Russell 2000 iS, IWO
0.10% , Financials VIPERs, VFH
0.10% , LargeCap Blend Russell 1000 iS, IWB
0.10% , Bond, 1-3 Year Treasury, SHY
0.09% , LargeCap Blend S&P=Weight R, RSP
0.08% , Blend Total Market VIPERs, VTI
0.08% , LargeCap Blend S&P 500 iS, IVV
0.07% , SmallCap Growth S&P 600 iS, IJT
0.06% , Technology SPDR, XLK
0.06% , LargeCap Value Russell 1000 iS, IWD
0.06% , Energy DJ, IYE
0.05% , Growth MidCap Russell, IWP
0.05% , Technology DJ US, IYW
0.05% , S&P 500 SPDRs LargeCap Blend, SPY
0.04% , Health Care SPDR, XLV
0.03% , LargeCap Growth S&P 500 iS, IVW
0.02% , Microcap Russell, IWC
0.01% , Bond Treasury Short-Term iS, SHV
0.00% , Financial SPDR, XLF
-0.01% , Energy SPDR, XLE
-0.01% , LargeCap Blend S&P 100, OEF
-0.02% , DIAMONDS (DJIA), DIA
-0.03% , LargeCap Growth Russell 1000 iS, IWF
-0.04% , Industrial SPDR, XLI
-0.05% , LargeCap Value S&P 500 iS, IVE
-0.07% , Bear, Short S&P 500, SH
-0.08% , Basic Materials DJ US, IYM
-0.09% , Dividend Appreciation Vipers, VIG
-0.10% , Value VIPERs, VTV
-0.12% , Value LargeCap Dynamic PS, PWV
-0.12% , Consumer Discretionary SPDR, XLY
-0.12% , Materials SPDR, XLB
-0.15% , Financial Services DJ, IYG
-0.22% , Telecom DJ US, IYZ
-0.24% , Transportation Av DJ, IYT
-0.25% , Semiconductor SPDR, XSD
-0.46% , Semiconductor iS IGW, SOXX
-0.52% , WilderHill Clean Energy PS, PBW
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The S&P 500 Composite Potential Resistance
1709.67, high of 8/2/2013
1696.81, high of 8/13/2013
1676.03, low of 7/26/2013
1671.84, low of 7/16/2013
1669.51, high of 8/26/2013
1665.51, 50-day SMA
1664.84, high of 9/6/2013
1658.59, low of 8/15/2013
The S&P 500 Composite Potential Support
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
1635.00, Fib 50.0% of Jun-Aug 2013
1629.05, low of 08/27/2013
1617.38, Fib 61.8% of Jun-Aug 2013
1606.04, Fib 23.6% of Nov-May 2013
1592.29, Fib 78.6% of Jun-Aug 2013
1567.92, 200-day SMA
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
