The majority of major indexes moved further above 2-year highs, validating the bullish upside breakout for stocks.

Trading volume on the NYSE rose to confirm the price uptrend.

Gold rose above all-time highs, again reconfirming its major uptrend.

The U.S. dollar price fell further below the lows of the previous 16 months, again reconfirming a long-term, major downtrend.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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
10.69% , ASH , ASHLAND
1.41% , TTH , Telecom H, TTH
7.57% , CMI , CUMMINS
8.37% , WAT , WATERS
5.52% , HUM , HUMANA
4.64% , SIAL , SIGMA ALDRICH
4.15% , LO , Lorillard, Inc. LO
0.91% , PWO , OTC Dynamic PS, PWO
4.63% , PWER , POWER ONE
6.10% , ITW , ILLINOIS TOOL
1.22% , PXN , Nanotech Lux, PXN
3.50% , ROK , ROCKWELL AUTOMAT
4.95% , R , RYDER SYSTEM
0.86% , EWU , United Kingdom Index, EWU
2.69% , HMA , HEALTH MGMT STK A
0.98% , SWH , Software H, SWH
2.40% , PCL , PLUM CREEK TIMB
3.33% , PH , PARKER HANNIFIN
1.93% , MMM , 3M
5.31% , ODP , OFFICE DEPOT
1.88% , XSD , Semiconductor SPDR, XSD
2.45% , PKI , PERKINELMER
2.41% , DELL , DELL
2.15% , TMO , THERMO ELECTRON
1.58% , ECH , Chile MSCI iS, ECH
2.51% , OXY , OCCIDENTAL
0.82% , KCE , Capital Markets KWB ST, KCE
3.34% , MOLX , MOLEX
0.95% , UTH , Utilities H, UTH
1.26% , JKJ , SmallCap Core iS M, JKJ
2.00% , PLL , PALL
2.41% , DE , DEERE & CO
3.29% , RIMM , RESEARCH IN MOTION LTD

Bearish Stocks: Falling Price and Rising Volume
Ranked by Price Change * Volume Change
% Price Change, Symbol, Name
-12.27% , BRCM , BROADCOM STK A
-8.52% , ROK , ROCKWELL AUTOMAT
-4.28% , MDP , MEREDITH
-4.62% , NOV , NATIONAL OILWELL VARC0
-5.09% , PH , PARKER HANNIFIN
-2.91% , BC , BRUNSWICK
-2.55% , SWK , Stanley Black & Decker
-1.68% , HRB , H&R BLOCK
-3.47% , FMCN , Focus Media, FMCN
-0.07% , PKB , Building & Construction, PKB
-4.40% , NBR , NABORS
-0.93% , TMK , TORCHMARK
-2.56% , BHH , Internet B2B H, BHH
-0.84% , DOG , Short 100% Dow 30, DOG
-1.70% , COP , CONOCOPHILLIPS
-1.63% , APC , ANADARKO PETRO
-1.55% , DHI , D.R. HORTON, DHI
-1.06% , DRI , DARDEN REST
-2.35% , ZEUS , Olympic Steel, ZEUS
-1.11% , RIG , TRANSOCEAN
-2.63% , SEE , SEALED AIR
-0.73% , PSQ , Short 100% QQQ, PSQ
-0.60% , MYY , Short 100% MidCap 400, MYY
-1.87% , PX , PRAXAIR
-0.81% , GNW , GENWORTH FINANCIAL
-1.97% , RDC , ROWAN COMPANIES
-3.24% , MBI , MBIA
-0.81% , ILF , Latin Am 40, ILF
-1.19% , DVN , DEVON ENERGY
-0.96% , FXI , China 25 iS, FXI
-1.35% , MS , MORGAN STANLEY
-1.46% , CLF , CLIFFS NATURAL RESOURCES, CLF
-0.40% , OIH , Oil Services H, OIH

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

Energy (XLE) Neutral, Market Weight. The Relative Strength Ratio (XLE/SPY) has been consolidating gains since 4/5/11 and remains neutral. Absolute price has been consolidating gains since 4/6/11. Support 77.92, 75.18, 72.85, 68.73, 67.49, 65.25, 65.03, 60.96, 60.21, 57.70, 55.68, 53.22, 50.33, 48.56, 46.16, and 43.66. Resistance 80.97, 83.27, and 91.42.

Industrial (XLI) Neutral, Market Weight. The Relative Strength Ratio (XLI/SPY) has been consolidating gains since 4/4/11 and remains neutral. Absolute price rose above previous 2-year highs on 4/26/11. Support 37.39, 36.24, 35.08, 35.03, 31.82, 31.58, 30.79, 30.51, 30.32, 29.77, and 27.67. Resistance 39.0 and 39.97.

Consumer Discretionary (XLY) Neutral, Market Weight. The Relative Strength Ratio (XLY/SPY) has been moving sideways for 2 months. Longer term, the Ratio has been consolidating gains since 11/26/10. Absolute price rose above 3-year highs on 4/27/11, which is bullish. Support 38.90, 38.46, 36.61, 36.13, 35.32, 35.02, 34.78, 33.94, 33.11, 32.66, 31.70, 29.80, 28.64, 28.21, and 26.62. Resistance 40.70.

Materials (XLB) Neutral, Market Weight. The Relative Strength Ratio (XLB/SPY) ) has been consolidating gains since 4/5/11 and remains neutral. Absolute price has been consolidating gains since 4/6/11. Support 38.44, 38.06, 36.44, 34.20, 33.70, 32.36, 29.88, 29.43, and 27.67. Resistance 41.28, 43.04, 45.21, 45.21, and 46.54.

Health Care (XLV) Neutral, Market Weight. The Relative Strength Ratio (XLV/SPY) remains neutral based on moving average relationships, with the 50-day SMA of the RS Ratio below the 200-day SMA. Absolute price remains bullish. Support 32.57, 31.43, 30.14, 30.11, 29.87, 28.00, 27.49. Resistance 36.61 and 37.89.

Technology (XLK) Bearish, Under Weight. The Relative Strength Ratio (XLK/SPY) fell below 13-month lows on 4/5/11. The Ratio gave a clear bearish signal on 3/22/11 when the 50-day SMA of the RS Ratio crossed below the 200-day SMA. Absolute price of XLK peaked on 2/18/11 and remains neutral. Support 25.20, 24.87, 23.87, 23.74, 23.64, 23.56, 22.68, 22.53, 21.60, 20.01, and 19.51. Resistance 27.09, 27.43, 27.63, and 28.60.

Consumer Staples (XLP) Neutral, Market Weight. The Relative Strength Ratio (XLP/SPY) remains neutral, based on moving average relationships, with the 50-day SMA of the RS Ratio below the 200-day SMA. Absolute price rose above 12-year highs on 4/27/11 and remains bullish. Support 29.64, 28.71, 28.22, 28.04, 27.76, 27.63, 27.46, 26.34, 25.30, and 24.95. Resistance: none.

Utilities (XLU) Bearish, Under Weight. The Relative Strength Ratio (XLU/SPY) crossed back below its 50-day SMA on 4/21/11, turning neutral. Absolute price remains neutral. Support 31.35, 31.20, 30.74, 30.53, 29.66, 27.91, 27.44, and 25.76. Resistance 32.89, 33.00, 34.89, and 36.24.

Financial (XLF) Bearish, Under Weight. The Relative Strength Ratio (XLF/SPY) fell below 2-year lows on 4/27/11 and remains bearish. Absolute price fell below 3-week lows on 4/18/11 and remains neutral. Support 15.79, 15.39, 15.08, 14.36, 14.25, 14.20, 13.29, and 13.08. Resistance 16.75, 16.85, 17.20, and 17.87.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Emerging Markets Stocks ETF (EEM) Relative Strength Ratio (EEM/SPY) remains neutral, with the 50-day SMA below the 200-day SMA.

Foreign Stocks ETF (EFA) Relative Strength Ratio (EFA/SPY) remains neutral, with the 50-day SMA below the 200-day SMA.

NASDAQ Composite/S&P 500 Relative Strength Ratio has been consolidating gains since 1/18/11 and remains neutral. Absolute price rose above 10-year highs on 4/27/11, reconfirming a bullish major trend.

The Largest Cap S&P 100/S&P 500 Relative Strength Ratio (OEX/SPX) fell further below 28-year lows on 4/21/11, again reconfirming its preexisting bearish major trend.

The Small Cap Russell 2000 Index/Large Cap Relative Strength Ratio (IWM/SPY) rose above all-time highs on 4/5/11, thereby reconfirming its preexisting bullish major trend.

The S&P Mid Cap 400/Large Cap Relative Strength Ratio (MDY/SPY) rose above all-time highs on 4/5/11, thereby reconfirming its preexisting bullish major trend.

Crude Oil nearest futures contract price reversed early weakness with a wide-range Outside Day on 4/27/11. Prospects have improved for the short-term trend, and the longer term trends remain bullish. Support 105.98, 105.31, 102.70, 97.02, 96.22, 95.14, 87.09, 83.85, 83.55, 80.28, 80.06, 79.84, 79.25, 78.86, 73.52, 72.63, 70.76, 70.35, 69.51, 68.59, 67.15, 65.05, and 64.24. Resistance 113.48, 114.05, 120.42, 130.0, and 147.27.

Gold nearest futures contract price rose above all-time highs on 4/27/11, again reconfirming its major uptrend. Support 1492.0, 1445.0, 1411.5, 1380.7, 1419.5, 1351.4, 1309.1, 1307.7, 1297.0, 1274.8, 1270.5, 1232.4, 1210.9, 1191.5, and 1155.6. Resistance: none.

Gold Mining Stocks ETF (GDX) Relative Strength Ratio (relative to the Gold bullion ETF, GDX/GLD) is bearish. It crossed below the 50-day SMA on 4/15/11, remains below the 200-day SMA, and the 50-day SMA remains below the 200-day SMA.

Silver nearest futures contract price partially recovered, rising above the previous day’s high on 4/27/11. Silver rose above 31-year highs on 4/25/11, again reconfirming a bullish major trend. Support 44.61, 39.70, 39.12, 37.08, 36.43, 33.565, 31.695, 31.61, 30.265, 29.635, 26.30, 24.98, and 22.84. Resistance: 50.35.

Silver/Gold Ratio rose above 27-year highs on 4/25/11, again reconfirming its preexisting bullish major trend.

Copper nearest futures contract price fell below the lows of the previous 4 trading days on 4/27/11, confirming a short-term price pullback. Copper appears to be in an intermediate-term consolidation since peaking at 4.6575 on 2/15/11. Strength in Copper suggests confidence in the economic outlook, while weakness suggests doubts. Support 4.209, 4.076, 3.9795, 3.6065, 3.3930, 3.1775, 2.9285, 2.8555, 2.8445, and 2.72. Resistance: 4.533, 4.554, 4.6495, and 4.6575.

U.S. Treasury Bond nearest futures contract price pulled back on 4/27/2011, a day after rising above 6-week highs on 4/26/11 and reconfirming a short-term uptrend. The Bond could be building an intermediate-term bullish base since the low of 2/9/11. In its favor, nearly everyone has been talking bearish on Bonds this year, so the Bond could be oversold. Support 120.20, 119.15, 117.28, 117.04, 116.26, 115.15, 114.06, 113.04, and 112.15. Resistance 123.22, 123.26, 128.00 129.14, 129.27, 132.26, 133.00, 135.12, 135.19, 136.31, 137.31, and 142.31.

Junk/Investment-Grade Corporate Bonds Relative Strength Ratio (JNK/LQD) has been stuck in a neutral trading range most of the time since JNK peaked at 40.94 on 11/4/10.

U.S. Treasury Inflation Protected / U.S. Treasury 7-10 Year Relative Strength Ratio (TIP/IEF) has eased lower after rising above 2-year highs on 4/8/11. The Ratio had been in a rising trend from 8/24/10 to 4/8/11, reflecting fixed-income investors’ preference for inflation-protected TIPs over the unprotected 7-10 Year U.S. Treasury Note ETF (IEF).

The U.S. dollar nearest futures contract price fell further below the lows of the previous 16 months on 4/27/11, again reconfirming a long-term, major downtrend. Support 70.80. Resistance 76.055, 76.87, 77.675, 78.98, 79.34, 81.635, 81.935, 82.02, 83.64, 84.73, 85.36, 86.71, 88.80, 89.22, 89.71, and 92.53.

Advisory Service Sentiment: There were 57.3% Bulls versus 15.7% Bears as of 4/6/11, according to the weekly Investors Intelligence survey of stock market newsletter advisors. The Bull/Bear Ratio soared to 3.65, up from 2.23 the previous week. The Ratio rose its highest level in the 8 years since the 20-year high of 3.74 set on 6/18/03. Following that 2003 peak, the stock market turned sideways/choppy for 2 months and sentiment reverted toward the mean. The Ratio’s 20-year range is 0.41 to 3.74, the median is 1.56, and the mean is 1.63. According to Humphrey B. Neill, The Art of Contrary Thinking, when everybody thinks alike, everyone is likely to be wrong.

VIX Fear Index fell below its 3-year range on 4/20/11, hitting 14.30 intraday, and again confirming a preexisting trend toward bullish complacency. This follows a brief spike up to an intraday peak of 31.28 on 3/16/11. Fear was short-lived. 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.

The Dow Theory reconfirmed a Primary Tide Bull Market as of 4/26/11, when both the Dow-Jones Industrial Average and the Dow-Jones Transportation Average closed above closing price highs of the previous 2-years. The Dow Theory originally 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.

S&P 500 Composite (SPX) moved further above 2-year highs, validating the previous bullish upside breakout.

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

S&P 500 Cash Index Potential Support
1294.70, low of 4/18/11
1249.05, low of 3/16/11
1246.73, high of 12/13/10
1238.81, Fibonacci 78.6% of 1,576.09 high
1235.05, high of 12/7/10
1232.85, low of 12/16/10
1228.74, Fibonacci 61.8% of 2007-2009 range
1227.08, high of 11/5/10
1173.00, low of 11/16/10
1171.70, low of 10/27/10
1166.74, low of 10/20/10
1159.71, low of 10/19/10
1,151.41, low of 10/7/10
1,131.87, low of 10/4/10
1122.79, low of 9/23/2010
1114.63, low of 9/15/2010
1110.88, low of 9/10/2010
1091.15, low of 9/7/2010
1039.70, low of 8/27/10
1039.31, Fibonacci 23.6% of June-Aug. 2010 range
1010.91, low of 7/1/2010
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
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
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

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

6.75% Silver Trust iS, SLV
5.40% Silver Miners Global X, SIL
3.00% Italy Index, EWI
2.74% Biotech SPDR, XBI
2.52% Spain Index, EWP
2.47% Austria Index, EWO
2.17% France Index, EWQ
2.16% Germany Index, EWG
2.13% Sweden Index, EWD
2.12% EMU Europe Index, EZU
1.93% Gold Shares S.T., GLD
1.80% European VIPERs, VGK
1.79% Europe 350 S&P Index, IEV
1.71% Belgium Index, EWK
1.66% Taiwan Index, EWT
1.58% Netherlands Index, EWN
1.52% Value EAFE MSCI, EFV
1.52% Networking, IGN
1.38% United Kingdom Index, EWU
1.32% Global 100, IOO
1.31% South Africa Index, EZA
1.25% EAFE Index, EFA
1.25% Oil Fund PowerShares, DBO
1.21% Oil, Crude, U.S. Oil Fund, USO
1.20% Consumer Discretionary SPDR, XLY
1.19% Growth BARRA Small Cap 600, IJT
1.12% Health Care SPDR, XLV
1.05% Growth EAFE MSCI, EFG
1.02% Small Cap EAFE MSCI iS, SCZ
0.95% Telecom DJ US, IYZ
0.94% SmallCap S&P 600, IJR
0.90% Dividend International, PID
0.81% Utilities VIPERs, VPU
0.80% Utilities SPDR, XLU
0.80% Growth SmallCap VIPERs, VBK
0.79% Value LargeCap Dynamic PS, PWV
0.79% DIAMONDS (DJIA), DIA
0.78% Growth SmallCap R 2000, IWO
0.78% Growth MidCap 400 B, IJK
0.75% Transportation Av DJ, IYT
0.74% REIT VIPERs, VNQ
0.72% MidCap S&P 400 SPDRs, MDY
0.71% Dividend DJ Select, DVY
0.69% Value VIPERs, VTV
0.68% Value SmallCap S&P 600 B, IJS
0.68% LargeCap Blend Russell 3000, IWV
0.68% LargeCap Blend S&P 100, OEF
0.68% Global ex US ACWI iS, ACWX
0.68% QQQ Nasdaq 100 Trust, QQQ
0.68% Bond Ex-US Treas, BWX
0.68% Small Cap VIPERs, VB
0.67% Financials VIPERs, VFH
0.67% Value S&P 500 B, IVE
0.67% MidCap S&P 400 iS, IJH
0.66% Metals & Mining SPDR, XME
0.66% Blend Total Market VIPERs, VTI
0.65% S&P 500 SPDRs LargeCap Blend, SPY
0.64% Consumer Staples SPDR, XLP
0.64% S&P 500 iS LargeCap Blend, IVV
0.63% LargeCap VIPERs, VV
0.63% Financial DJ US, IYF
0.63% Financial Services DJ, IYG
0.62% Financial SPDR, XLF
0.61% LargeCap 1000 R, IWB
0.61% MidCap Russell, IWR
0.61% Value SmallCap VIPERS, VBR
0.61% Growth MidCap Russell, IWP
0.61% Energy Global, IXC
0.60% Value 1000 Russell, IWD
0.60% Technology SPDR, XLK
0.60% Commodity Tracking, DBC
0.60% Realty Cohen & Steers, ICF
0.60% SmallCap Russell 2000, IWM
0.59% Growth VIPERs, VUG
0.56% REIT Wilshire, RWR
0.55% Growth 1000 Russell, IWF
0.53% Malaysia Index, EWM
0.53% Growth S&P 500/BARRA, IVW
0.52% Value MidCap S&P 400 B, IJJ
0.50% LargeCap Blend S&P=Weight R, RSP
0.50% Value SmallCap Russell 2000, IWN
0.49% Value MidCap Russell, IWS
0.49% Info Tech VIPERs, VGT
0.48% Homebuilders SPDR, XHB
0.47% Dividend SPDR, SDY
0.46% Real Estate US DJ, IYR
0.46% Chile MSCI iS, ECH
0.45% Thailand MSCI iS, THD
0.45% Dividend High Yield Equity PS, PEY
0.44% Industrial SPDR, XLI
0.44% Switzerland Index, EWL
0.42% Technology DJ US, IYW
0.39% WilderHill Clean Energy PS, PBW
0.34% Dividend Appreciation Vipers, VIG
0.32% Materials SPDR, XLB
0.26% Indonesia MV, IDX
0.24% Energy & Nat Res iS GS, IGE
0.22% Microcap Russell, IWC
0.21% Australia Index, EWA
0.20% Preferred Stock iS, PFF
0.19% Pacific VIPERs, VPL
0.17% Russia MV, RSX
0.17% Bond EmrgMkt JPM iS, EMB
0.14% Bond Muni ATM-Free S&P iS, MUB
0.14% Japan Index, EWJ
0.11% Mexico Index, EWW
0.08% Pacific ex-Japan, EPP
0.07% Basic Materials DJ US, IYM
0.07% Singapore Index, EWS
0.06% Bond, High-Yield Corporate, HYG
0.05% Water Resources, PHO
0.05% Semiconductor SPDR, XSD
0.04% Bond, 1-3 Year Treasury, SHY
0.03% Canada Index, EWC
0.03% Bond Treasury Short-Term iS, SHV
-0.02% Emerging VIPERs, VWO
-0.05% Bond, High-Yield Junk, JNK
-0.05% Energy SPDR, XLE
-0.05% Capital Markets KWB ST, KCE
-0.06% Financial Preferred, PGF
-0.06% Energy VIPERs, VDE
-0.06% Emerging 50 BLDRS, ADRE
-0.07% Semiconductor iS IGW, SOXX
-0.08% Bond, Aggregate, AGG
-0.13% Bond, Corp, LQD
-0.13% Energy DJ, IYE
-0.15% Agriculture DB PS, DBA
-0.16% South Korea Index, EWY
-0.18% Emerging Markets, EEM
-0.20% Frontier Markets Guggenheim , FRN
-0.24% Bond, TIPS, TIP
-0.29% Bond, 10 Year Treasury, IEF
-0.46% Hong Kong Index, EWH
-0.50% India PS, PIN
-0.52% China LargeCap Growth G D H USX PS, PGJ
-0.59% India Earnings WTree, EPI
-0.62% Turkey MSCI iS, TUR
-0.81% Latin Am 40, ILF
-0.96% China 25 iS, FXI
-1.02% Bond, 20+ Years Treasury, TLT
-1.19% Brazil Index, EWZ