The S&P 500 Composite (SPX: 1,314.60) fell 0.10% on Tuesday on shrinking volume. SPX still demonstrates relatively low short-term momentum. Volume trends are bearish, rising on declines and falling on rallies. The stock market may be exhausted after its 5-week run up.
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Equity Mutual Funds lost 6% in 2011, according to Lipper Research Services.
Hedge funds lost 5%, according to COO Connect.
Hedge funds suffered their second-worst year on record in 2011, according to an index maintained by Eurekahedge, an independent research firm that specializes in hedge fund data. Some of the world’s largest and best-known hedge funds suffered huge losses, down 20% to 50%.

But not all money managers were down in 2011; see:
Robert W. Colby Asset Management, Inc. (click here).
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The S&P 500 Composite 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
1376.55, Fibonacci 100.0% projection 10/11 range
1370.58, high of 5/2/11
1359.44, high of 5/10/11
1356.48, high of 7/7/11
1349.31, Fibonacci 87.5% projection 10/11 range
1347.00, high of 7/21/11
1329.92, Fibonacci 78.6% projection 10/11 range
1322.28, high of 1/23/2012

The S&P 500 Composite Potential Support
1277.58, low of 1/13/2012
1265.26, low of 1/5/2012
1262.30, low of 12/27/2011
1257.23, 200-day SMA
1257.46, low of 12/30/11
1257.58, Fibonacci 61.8% of 2011 range
1255.22, high of 12/22/2011
1248.64, low of 12/29/2011
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 11/3/11
1231.04, high of 12/16/11
1226.64, low of 11/9/2011
1222.68, Fibonacci 50% of 2011 range
1224.57, high of 12/19/11
1215.20, low of 12/16/11
1209.47, low of 12/14/2011
1209.43, low of 11/17/2011
1204.49, Fibonacci 23.6% of 2009-11 range
1202.37, low of 12/19/11
1187.77, Fibonacci 38.2% of 2011 range
1158.66, low of 11/25/2011
1144.38, Fibonacci 23.6% of 2011 range
1101.73, Fibonacci 38.2% of 2009-11 range
1074.77, low of 10/4/2011
1039.70, low of 8/27/10
1039.31, Fibonacci 23.6% of June-Aug. 2010 range
1010.91, low of 7/1/2010
1018.69, Fibonacci 50% of 2009-11 range
1008.55, Fibonacci 38.2% of 2009-2010 range
991.97, low of 9/2/2009
978.51, low of 8/17/2009
956.23, high of 6/11/2009
943.29, Gann 50.0% of 2009-2010 range
935.64, Fibonacci 61.8% of 2009-11 range
878.04, Fibonacci 61.8% of 2009-2010 range
874.17, Gann 62.5% of 2009-2010 range
869.32, low of 7/8/2009
817.40, Fibonacci 78.6% of 2009-11 range
805.17, Gann 75.0% of 2009-2010 range
785.13, Fibonacci 78.6% of 2009-2010 range
666.79, intraday low of 3/6/2009
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Fixed-Income Investments

Bond, iShares Barclays 20+ Year U.S. Treasury ETF (TLT) confirmed a downside correction. TLT fell below the lows of the previous 10 weeks on 1/23/11 and fell below its 50-day SMA on 1/19/12. TLT remains above its 200-day SMA, and the 50-day SMA has remained bullishly above the 200-day SMA every day since 6/24/11, suggesting a persistently bullish major trend for the longer term. Support 115.21, 109.82, 106.08, 103.20, 102.27, 96.31, 94.83, 93.14, 89.65, and 88.14. Resistance 121.64, 121.76, 124.02 and 125.03.

Bond, iShares Barclays 7-10 Year U.S. Treasury ETF (IEF) confirmed a downside correction. IEF fell below the lows of the previous 6 weeks on 1/23/11 and fell below its 50-day SMA on 1/20/12. IEF remains above its 200-day SMA, and the 50-day SMA has remained bullishly above the 200-day SMA every day since 6/21/11, suggesting a persistently bullish major trend. Support 103.29, 102.32, 101.36, 101.11, 99.79, and 97.66. Resistance 105.92, 106.04, and 106.66.

Junk/Investment-Grade Corporate Bond ETFs Relative Strength Ratio (JNK/LQD) whipsawed back above its 50-day SMA on 1/18/12 but remains below its falling 200-day SMA. The 50-day SMA has remained bearishly below the 200-day SMA every day since 6/20/11.

U.S. Treasury Inflation Protected / U.S. Treasury 7-10 Year ETFs Relative Strength Ratio (TIP/IEF) whipsawed back above its 50-day SMA on 1/19/12 but remains below its 200-day SMA. Longer term, the 50-day SMA has remained bearishly below the 200-day SMA every day since 7/15/11.
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Tangible Assets, Commodities

U.S. dollar ETF (UUP) confirmed a downside correction. UUP fell below the lows of the previous 6 weeks and fell below its 50-day SMA on 1/23/11. UUP remains above its 200-day SMA, and the 50-day SMA has remained bullishly above the 200-day SMA every day since 10/26/11. Support 21.97, 21.92, 21.58, 21.07, and 20.84. Resistance 22.46, 22.85, 23.52, 25.84, 27.19, 28.97.

Agriculture, PowerShares DB Agriculture Fund ETF (DBA) whipsawed back above its 50-day SMA on 1/23/12. DBA remains bearishly below its 200-day SMA, and the 50-day SMA has remained bearishly below the 200-day SMA every day since 8/8/11.

Crude Oil, United States Oil ETF (USO) has been correcting and consolidating over the past 13 trading days. USO broke out above the highs of the previous 7 months on 1/4/12, thereby confirming a major uptrend. Support 37.64, 35.73, 34.54, 32.52, 29.10, 26.28, and 22.74. Resistance 39.96, 40.74, and 45.60.

Gold, SPDR Gold Shares ETF (GLD) rose above the highs of the previous 5 weeks and rose above its 50-day SMA on 1/23/12. GLD remains above its 200-day SMA, and the 50-day SMA has remained bearishly above the 200-day SMA every day since 2/11/09. Support: 159.68, 158.01, 156.19, 154.55, 148.27, 147.19, 143.97, 143.42, and 142.55. Resistance: 165.53, 170.80, 175.46, 177.40, and 185.85.

Gold Mining Stocks ETF/Gold Shares ETF Relative Strength Ratio (GDX/GLD) fell below the lows of the previous 3 years on 1/24/12, thereby reconfirming a bearish major trend for the long term. GDX/GLD remains bearishly below its 50-day and 200-day SMAs. Longer term, the 50-day SMA has remained bearishly below the 200-day SMA every day since 2/22/11.

Silver, iShares Silver Trust ETF (SLV) rose above the highs of the previous 6 weeks on 1/23/12 and rose above its 50-day SMA on 1/20/12. SLV remains bearishly below its falling 200-day SMA, and the 50-day SMA has remained bearishly below the 200-day SMA every day since 10/27/11. Support 28.63, 27.83, 25.65, and 24.44. Resistance: 32.53, 34.44, 34.51, 40.23, 41.49, 42.30, 42.78, 44.71 and 48.35.

Silver/Gold ETFs Ratio (SLV/GLD) rose above its 50-day SMA on 1/20/12 but remains bearishly below its falling 200-day SMA. SLV/GLD fell below the lows of the previous 14 months on 12/28/11, confirming a long-term bearish trend. Longer term, the 50-day SMA has remained bearishly below the 200-day SMA every day since 8/30/11. This SLV/GLD downtrend means investors prefer Gold over Silver.

Copper, iPath DJ-UBS Copper TR Sub-Index ETN (JJC) rose above the highs of the previous 4 months on 1/19/12 and rose above its 50-day SMA on 1/10/12. JJC remains below its 200-day SMA, and the 50-day SMA has remained bearishly below the 200-day SMA every day since 8/8/11.
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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 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
7.49% , DGX , QUEST DIAG
7.97% , WAT , WATERS
4.80% , TLAB , TELLABS
7.25% , EMC , EMC
4.72% , THC , TENET HEALTHCARE
5.81% , COH , COACH
6.14% , SNV , SYNOVUS
0.71% , MTK , Technology MS sT, MTK
6.30% , RF , REGIONS FINAN
4.53% , ASH , ASHLAND
4.14% , ODP , OFFICE DEPOT
3.46% , HOG , HARLEY DAVIDSON
0.95% , EWI , Italy Index, EWI
3.26% , RL , Polo Ralph Lauren
1.39% , RIG , TRANSOCEAN
2.55% , LH , LAB CRP OF AMER
2.98% , PMCS , PMC SIERRA
1.93% , DYN , DYNEGY
3.32% , ADSK , AUTODESK
4.25% , LAMR , Lamar Advertising Company
3.90% , A , AGILENT TECH
2.87% , LRCX , LAM RESEARCH CORP
1.60% , PCAR , PACCAR
4.21% , CBE , COOPER INDS STK A
2.15% , BMC.O , BMC SOFTWARE
2.02% , BCR , C R BARD
3.51% , CROX , CROCS Inc., CROX
2.85% , VLO , VALERO ENERGY
2.22% , MTG , MGIC INVESTMENT
1.32% , XBI , Biotech SPDR, XBI
1.36% , IR , INGER RAND
2.12% , AFL , AFLAC
2.70% , CTB , COOPER TIRE

Bearish Stocks: Falling Price and Rising Volume
Ranked by Price Change * Volume Change
% Price Change, Symbol, Name
-7.58% , KSU , Kansas City Southern, KSU
-7.55% , ZION , ZIONS
-1.05% , PSTL , Steel Global PS ETF, PSTL
-5.24% , CR , CRANE
-4.72% , RFMD , RF Micro Devices Inc
-0.94% , EWN , Netherlands Index, EWN
-3.56% , S , SPRINT NEXTEL
-2.50% , WLP , WELLPOINT HEALTH
-3.70% , CSX , CSX
-2.31% , WPI , WATSON PHARM
-1.74% , EWO , Austria Index, EWO
-1.70% , KMB , KIMBERLY CLARK
-2.18% , MCD , MCDONALDS
-0.36% , EWK , Belgium Index, EWK
-2.44% , MJN , Mead Johnson Nutrition
-1.86% , AET , AETNA
-2.64% , TAP , ADOLPH COORS STK B, TAP
-1.06% , VOX , Telecom Services VIPERs, VOX
-0.70% , NWL , NEWELL RUBBER
-2.60% , APD , AIR PRODS & CHEM
-1.35% , EWC , Canada Index, EWC
-0.72% , EWQ , France Index, EWQ
-0.54% , THD , Thailand MSCI iS, THD
-0.74% , EWD , Sweden Index, EWD
-2.16% , HES , AMERADA HESS
-0.54% , EZU , EMU Europe Index, EZU
-1.59% , VZ , VERIZON COMMS
-0.31% , EMB , Bond EmrgMkt JPM iS, EMB
-2.10% , UNH , UNITEDHEALTH GRP
-1.16% , LM , LEGG MASON
-1.11% , AVY , AVERY DENNISON
-0.88% , DRI , DARDEN REST
-2.28% , COF , CAPITAL ONE FNCL
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One-Day Ranking of Major ETFs, Ranked from Strongest to Weakest of the Day:
% Price Change, ETF Name, Symbol
1.84% India Earnings WTree, EPI
1.61% Homebuilders SPDR, XHB
1.44% India PS, PIN
1.32% Biotech SPDR, XBI
1.14% Networking, IGN
1.07% Semiconductor SPDR, XSD
1.07% Agriculture DB PS, DBA
0.95% Italy Index, EWI
0.86% Microcap Russell, IWC
0.76% REIT VIPERs, VNQ
0.68% Value SmallCap S&P 600 B, IJS
0.67% REIT Wilshire, RWR
0.67% Growth BARRA Small Cap 600, IJT
0.66% Realty Cohen & Steers, ICF
0.61% SmallCap S&P 600, IJR
0.61% Growth SmallCap VIPERs, VBK
0.59% Growth SmallCap R 2000, IWO
0.58% SmallCap Russell 2000, IWM
0.56% Real Estate US DJ, IYR
0.56% Growth MidCap 400 B, IJK
0.55% Value SmallCap Russell 2000, IWN
0.53% Hong Kong Index, EWH
0.50% Small Cap VIPERs, VB
0.45% Value SmallCap VIPERS, VBR
0.43% MidCap S&P 400 iS, IJH
0.41% Growth MidCap Russell, IWP
0.41% Russia MV, RSX
0.38% MidCap S&P 400 SPDRs, MDY
0.36% Bond, Corp, LQD
0.36% Semiconductor iS IGW, SOXX
0.35% China 25 iS, FXI
0.34% Metals & Mining SPDR, XME
0.30% Value MidCap S&P 400 B, IJJ
0.29% Consumer Discretionary SPDR, XLY
0.28% Bond Muni ATM-Free S&P iS, MUB
0.28% Water Resources, PHO
0.26% MidCap Russell, IWR
0.26% Bond, High-Yield Corporate, HYG
0.24% Info Tech VIPERs, VGT
0.19% Emerging VIPERs, VWO
0.18% Bond, 20+ Years Treasury, TLT
0.18% Commodity Tracking, DBC
0.18% Technology DJ US, IYW
0.16% LargeCap Blend S&P=Weight R, RSP
0.13% Emerging Markets, EEM
0.13% Spain Index, EWP
0.13% Energy Global, IXC
0.12% Growth VIPERs, VUG
0.12% Financial Preferred, PGF
0.12% Bond, 10 Year Treasury, IEF
0.11% Industrial SPDR, XLI
0.11% Value MidCap Russell, IWS
0.11% Dividend Appreciation Vipers, VIG
0.10% Bear, Short S&P 500, SH
0.10% Growth 1000 Russell, IWF
0.08% Bond, Aggregate, AGG
0.08% Bond, High-Yield Junk, JNK
0.08% Brazil Index, EWZ
0.03% Basic Materials DJ US, IYM
0.03% Health Care SPDR, XLV
0.02% Emerging 50 BLDRS, ADRE
0.01% Bond Treasury Short-Term iS, SHV
0.01% LargeCap Blend Russell 3000, IWV
0.01% Bond, TIPS, TIP
0.00% Materials SPDR, XLB
0.00% LargeCap 1000 R, IWB
0.00% Dividend SPDR, SDY
0.00% Bond, 1-3 Year Treasury, SHY
-0.01% Blend Total Market VIPERs, VTI
-0.02% Bond Ex-US Treas, BWX
-0.02% South Korea Index, EWY
-0.03% Preferred Stock iS, PFF
-0.03% China LargeCap Growth G D H USX PS, PGJ
-0.06% Financial DJ US, IYF
-0.06% Growth S&P 500/BARRA, IVW
-0.07% LargeCap VIPERs, VV
-0.07% Technology SPDR, XLK
-0.08% Singapore Index, EWS
-0.09% S&P 500 iS LargeCap Blend, IVV
-0.11% S&P 500 SPDRs LargeCap Blend, SPY
-0.12% Taiwan Index, EWT
-0.14% Financial SPDR, XLF
-0.15% Frontier Markets Guggenheim , FRN
-0.17% Financials VIPERs, VFH
-0.17% WilderHill Clean Energy PS, PBW
-0.18% QQQ Nasdaq 100 Trust, QQQ
-0.20% Financial Services DJ, IYG
-0.21% Value 1000 Russell, IWD
-0.21% Value S&P 500 B, IVE
-0.23% Value VIPERs, VTV
-0.23% Global 100, IOO
-0.24% Germany Index, EWG
-0.26% Capital Markets KWB ST, KCE
-0.27% Energy DJ, IYE
-0.27% United Kingdom Index, EWU
-0.28% Dividend DJ Select, DVY
-0.28% Latin Am 40, ILF
-0.28% Europe 350 S&P Index, IEV
-0.29% Value EAFE MSCI, EFV
-0.29% Energy SPDR, XLE
-0.30% Energy VIPERs, VDE
-0.30% Switzerland Index, EWL
-0.30% Mexico Index, EWW
-0.30% DIAMONDS (DJIA), DIA
-0.31% Bond EmrgMkt JPM iS, EMB
-0.32% LargeCap Blend S&P 100, OEF
-0.32% Dividend High Yield Equity PS, PEY
-0.36% Belgium Index, EWK
-0.36% Value LargeCap Dynamic PS, PWV
-0.44% Global ex US ACWI iS, ACWX
-0.48% Oil Fund PowerShares, DBO
-0.50% Energy & Nat Res iS GS, IGE
-0.53% Dividend International, PID
-0.54% EMU Europe Index, EZU
-0.54% Thailand MSCI iS, THD
-0.55% South Africa Index, EZA
-0.56% Indonesia MV, IDX
-0.56% Consumer Staples SPDR, XLP
-0.56% EAFE Index, EFA
-0.56% Transportation Av DJ, IYT
-0.57% Malaysia Index, EWM
-0.59% Turkey MSCI iS, TUR
-0.59% Pacific ex-Japan, EPP
-0.62% European VIPERs, VGK
-0.64% Growth EAFE MSCI, EFG
-0.66% Pacific VIPERs, VPL
-0.70% Gold Shares S.T., GLD
-0.72% Chile MSCI iS, ECH
-0.72% France Index, EWQ
-0.74% Sweden Index, EWD
-0.76% Oil, Crude, U.S. Oil Fund, USO
-0.78% Australia Index, EWA
-0.79% Utilities VIPERs, VPU
-0.80% Small Cap EAFE MSCI iS, SCZ
-0.81% Utilities SPDR, XLU
-0.93% Telecom DJ US, IYZ
-0.94% Netherlands Index, EWN
-0.99% Silver Trust iS, SLV
-1.00% Japan Index, EWJ
-1.35% Canada Index, EWC
-1.74% Austria Index, EWO