The S&P 500 Composite (SPX: 1,295.50) rose 0.23% on Thursday. Volume on the NYSE fell 14%. The round number of 1300 may offer resistance.

Up 13 of the past 16 trading days, SPX appears overbought. SPX has relatively low upside momentum despite this apparent persistent advance. With the majority of investors already bullish, and therefore already in the market, stocks may have difficulty extending the rally much further at this time.

Financial stock sector ETF (XLF) price appeared to encounter resistance at its 200-day SMA on 1/12/12.
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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
1370.58, high of 5/2/11
1359.44, high of 5/10/11
1356.48, high of 7/7/11
1347.00, high of 7/21/11
1307.28, Fibonacci 78.6% of 2011 range
1,296.82, high of 1/12/2012

The S&P 500 Composite Potential Support
1284.62, high of 1/3/2012
1265.26, low of 1/5/2012
1262.30, low of 12/27/2011
1258.93, 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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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
0.73% , IJS , Value SmallCap S&P 600 B, IJS
1.12% , EWP , Spain Index, EWP
5.32% , RIMM , RESEARCH IN MOTION LTD
0.88% , VOX , Telecom Services VIPERs, VOX
3.01% , IGT , INTL GAME TECH
5.15% , BRCM , BROADCOM STK A
3.49% , PLL , PALL
1.57% , ADRU , Europe 100 BLDRS, ADRU
1.68% , PKB , Building & Construction, PKB
0.91% , EWK , Belgium Index, EWK
0.99% , PSI , Semiconductors, PSI
1.05% , EWD , Sweden Index, EWD
2.50% , EWI , Italy Index, EWI
0.80% , EWS , Singapore Index, EWS
1.00% , IEV , Europe 350 S&P Index, IEV
3.43% , SIRI , Sirius Satellite
1.21% , GD , GENERAL DYNAMICS
5.19% , IR , INGER RAND
1.92% , SIAL , SIGMA ALDRICH
2.20% , NE , NOBLE
0.80% , IYG , Financial Services DJ, IYG
1.32% , EZU , EMU Europe Index, EZU
3.60% , DOW , DOW CHEMICAL
2.47% , BLL , BALL
0.93% , IYJ , Industrial LargeCap Blend DJ US, IYJ
1.62% , LSI , LSI LOGIC
1.21% , BK , BANK OF NEW YORK
2.21% , FISV , FISERV
2.51% , MAR , MARRIOTT INTL STK A
3.58% , SRCL , Stericycle, SRCL
0.65% , CLX , CLOROX
1.42% , FAST , Fastenal Company
1.24% , EWL , Switzerland Index, EWL

Bearish Stocks: Falling Price and Rising Volume
Ranked by Price Change * Volume Change
% Price Change, Symbol, Name
-1.87% , WYNN , Wynn Resorts L
-6.37% , PTEN , Patterson-UTI Energy Inc
-1.25% , PXJ , Oil & Gas, PXJ
-2.29% , RF , REGIONS FINAN
-2.21% , USO , Oil, Crude, U.S. Oil Fund, USO
-4.65% , HP , Helmerich & Payne HP
-3.82% , BHI , BAKER HUGHES
-0.07% , PFM , Dividend Achievers PS, PFM
-1.73% , MHS , MEDCO HEALTH
-6.49% , HMA , HEALTH MGMT STK A
-1.64% , BBBY , BED BATH BEYOND
-0.44% , PXE , Energy Exploration & Prod, PXE
-1.91% , THC , TENET HEALTHCARE
-0.99% , IYE , Energy DJ, IYE
-2.31% , AIV , APT INV MNGMT
-2.60% , CVX , CHEVRONTEXACO
-1.66% , AMZN , Amazoncom Inc
-2.02% , APA , APACHE
-0.13% , PSJ , Software, PSJ
-1.74% , COP , CONOCOPHILLIPS
-1.50% , DBA , Agriculture DB PS, DBA
-1.66% , CTSH , Cognizant Technology Solutions
-0.44% , EWJ , Japan Index, EWJ
-1.61% , HES , AMERADA HESS
-1.84% , HAL , HALLIBURTON
-1.15% , BF.B , BROWN FORMAN STK B
-0.83% , CNP , CENTERPNT ENERGY
-1.48% , XEL , XCEL ENERGY
-0.97% , IBM , IBM
-0.51% , MZZ , Short 200% MidCap 400 PS, MZZ
-1.91% , DBO , Oil Fund PowerShares, DBO
-2.18% , WAG , WALGREEN
-0.94% , XLE , Energy SPDR, XLE
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One-Day Ranking of Major ETFs, Ranked from Strongest to Weakest of the Day:
% Price Change, ETF Name, Symbol
2.63% WilderHill Clean Energy PS, PBW
2.50% Italy Index, EWI
2.12% Turkey MSCI iS, TUR
1.93% Austria Index, EWO
1.72% Germany Index, EWG
1.66% Basic Materials DJ US, IYM
1.41% Materials SPDR, XLB
1.32% EMU Europe Index, EZU
1.30% Brazil Index, EWZ
1.24% Switzerland Index, EWL
1.24% South Africa Index, EZA
1.18% Netherlands Index, EWN
1.16% South Korea Index, EWY
1.13% Chile MSCI iS, ECH
1.12% Spain Index, EWP
1.07% Semiconductor iS IGW, SOXX
1.05% Sweden Index, EWD
1.02% France Index, EWQ
1.00% Europe 350 S&P Index, IEV
0.99% European VIPERs, VGK
0.96% Water Resources, PHO
0.94% Telecom DJ US, IYZ
0.91% Belgium Index, EWK
0.89% Value EAFE MSCI, EFV
0.88% Small Cap EAFE MSCI iS, SCZ
0.87% Industrial SPDR, XLI
0.87% Semiconductor SPDR, XSD
0.87% Metals & Mining SPDR, XME
0.80% Financial Services DJ, IYG
0.80% Singapore Index, EWS
0.77% Networking, IGN
0.74% Mexico Index, EWW
0.73% Value SmallCap S&P 600 B, IJS
0.65% Growth MidCap Russell, IWP
0.64% Capital Markets KWB ST, KCE
0.61% Latin Am 40, ILF
0.58% Silver Trust iS, SLV
0.57% Hong Kong Index, EWH
0.57% Pacific ex-Japan, EPP
0.54% Microcap Russell, IWC
0.51% Canada Index, EWC
0.51% Malaysia Index, EWM
0.51% Info Tech VIPERs, VGT
0.50% Emerging VIPERs, VWO
0.50% Technology SPDR, XLK
0.46% Thailand MSCI iS, THD
0.45% Australia Index, EWA
0.44% Gold Shares S.T., GLD
0.43% China LargeCap Growth G D H USX PS, PGJ
0.42% Growth SmallCap R 2000, IWO
0.42% Growth MidCap 400 B, IJK
0.42% EAFE Index, EFA
0.42% LargeCap Blend S&P=Weight R, RSP
0.42% Growth EAFE MSCI, EFG
0.41% Emerging Markets, EEM
0.40% Preferred Stock iS, PFF
0.40% Global ex US ACWI iS, ACWX
0.40% Financial SPDR, XLF
0.40% QQQ Nasdaq 100 Trust, QQQ
0.38% SmallCap S&P 600, IJR
0.37% MidCap Russell, IWR
0.35% Value SmallCap Russell 2000, IWN
0.35% Value S&P 500 B, IVE
0.34% Growth SmallCap VIPERs, VBK
0.34% Global 100, IOO
0.34% Growth 1000 Russell, IWF
0.33% Taiwan Index, EWT
0.33% LargeCap Blend Russell 3000, IWV
0.32% Transportation Av DJ, IYT
0.31% Health Care SPDR, XLV
0.31% Financials VIPERs, VFH
0.30% Technology DJ US, IYW
0.30% SmallCap Russell 2000, IWM
0.30% Emerging 50 BLDRS, ADRE
0.30% Consumer Discretionary SPDR, XLY
0.30% Dividend DJ Select, DVY
0.29% Bond Ex-US Treas, BWX
0.29% India Earnings WTree, EPI
0.29% Small Cap VIPERs, VB
0.28% Growth VIPERs, VUG
0.28% Value SmallCap VIPERS, VBR
0.27% China 25 iS, FXI
0.27% Financial DJ US, IYF
0.27% LargeCap 1000 R, IWB
0.25% LargeCap VIPERs, VV
0.24% Blend Total Market VIPERs, VTI
0.24% S&P 500 SPDRs LargeCap Blend, SPY
0.24% S&P 500 iS LargeCap Blend, IVV
0.24% Growth BARRA Small Cap 600, IJT
0.24% Financial Preferred, PGF
0.23% Bond, Corp, LQD
0.22% MidCap S&P 400 iS, IJH
0.20% Dividend International, PID
0.20% Dividend SPDR, SDY
0.19% MidCap S&P 400 SPDRs, MDY
0.19% DIAMONDS (DJIA), DIA
0.18% Value VIPERs, VTV
0.18% Value 1000 Russell, IWD
0.18% Value MidCap Russell, IWS
0.17% LargeCap Blend S&P 100, OEF
0.15% Value LargeCap Dynamic PS, PWV
0.13% Growth S&P 500/BARRA, IVW
0.11% Dividend High Yield Equity PS, PEY
0.09% Value MidCap S&P 400 B, IJJ
0.09% Biotech SPDR, XBI
0.08% Bond EmrgMkt JPM iS, EMB
0.06% Bond Muni ATM-Free S&P iS, MUB
0.06% United Kingdom Index, EWU
0.05% Dividend Appreciation Vipers, VIG
0.00% Homebuilders SPDR, XHB
0.00% Bond, High-Yield Junk, JNK
-0.01% Bond, 1-3 Year Treasury, SHY
-0.02% Bond Treasury Short-Term iS, SHV
-0.03% Consumer Staples SPDR, XLP
-0.03% Indonesia MV, IDX
-0.06% Pacific VIPERs, VPL
-0.08% Bond, Aggregate, AGG
-0.10% Frontier Markets Guggenheim , FRN
-0.13% Bond, High-Yield Corporate, HYG
-0.14% Bond, 20+ Years Treasury, TLT
-0.14% Utilities SPDR, XLU
-0.15% Bond, TIPS, TIP
-0.16% Utilities VIPERs, VPU
-0.20% Bear, Short S&P 500, SH
-0.21% Bond, 10 Year Treasury, IEF
-0.40% India PS, PIN
-0.41% Energy & Nat Res iS GS, IGE
-0.44% Japan Index, EWJ
-0.64% Energy Global, IXC
-0.66% Real Estate US DJ, IYR
-0.72% Realty Cohen & Steers, ICF
-0.73% REIT VIPERs, VNQ
-0.75% REIT Wilshire, RWR
-0.82% Russia MV, RSX
-0.82% Energy VIPERs, VDE
-0.94% Energy SPDR, XLE
-0.99% Energy DJ, IYE
-1.41% Commodity Tracking, DBC
-1.50% Agriculture DB PS, DBA
-1.91% Oil Fund PowerShares, DBO
-2.21% Oil, Crude, U.S. Oil Fund, USO