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

Utilities stock sector upgraded to Neutral, as absolute price rose above 2-year highs.

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

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

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
5.71% , CEG , CONSTELL ENERGY
2.33% , WOR , WORTHINGTON INDS
9.69% , CTXS , CITRIX SYSTEMS
7.98% , NSC , NORFOLK SOUTHERN
6.68% , S , SPRINT NEXTEL
5.10% , MJN , Mead Johnson Nutrition
7.39% , LSI , LSI LOGIC
5.70% , ALL , ALLSTATE
4.53% , ZMH , ZIMMER HLDGS
4.22% , LNC , LINCOLN NATL
1.86% , PIC , Insurance, PIC
6.36% , XLNX , XILINX
4.99% , AFL , AFLAC
7.46% , MSI , Motorola Solutions, MSI
4.12% , AET , AETNA
4.19% , XRAY , DENTSPLY International Inc
3.77% , VIA , VIACOM INC. (New)
0.90% , JKI , Value MidCap iS M, JKI
1.66% , EXC , EXELON CORP
0.61% , IXG , Financials Global LargeCap Value, IXG
3.26% , PHM , PULTE HOMES
1.33% , ADRD , Developed 100 BLDRS, ADRD
2.64% , PEP , PEPSICO
3.32% , HIG , HARTFORD FINL
2.36% , CL , COLGATE
4.54% , ESRX , EXPRESS SCRIPTS
2.29% , CI , CIGNA
0.83% , PIV , Value Line Timeliness MidCap Gr, PIV
3.64% , VIA.B , VIACOM STK B
1.67% , IP , INTL PAPER
3.80% , COH , COACH
0.49% , IYZ , Telecom DJ US, IYZ
1.53% , FDO , FAMILY DLR STRS

Bearish Stocks: Falling Price and Rising Volume
Ranked by Price Change * Volume Change
% Price Change, Symbol, Name
-19.94% , OMX , OFFICEMAX INC., OMX
-12.36% , TER , TERADYNE
-7.96% , NVLS , NOVELLUS SYS
-10.09% , EK , EASTMAN KODAK
-4.13% , WFMI , Whole Foods Market Inc
-7.04% , HP , Helmerich & Payne HP
-3.30% , BC , BRUNSWICK
-4.53% , FISV , FISERV
-4.40% , IIH , Internet Infrastructure H, IIH
-5.56% , IPG , INTERPUBLIC GRP
-4.13% , FLEX , Flextronics International Ltd
-3.16% , CINF , CINCINNATI FIN
-3.58% , AM , AMER GREETINGS STK A
-2.31% , STLD , Steel Dynamics, STLD
-7.02% , JNY , JONES APPAREL
-3.54% , HAR , Harman International
-2.44% , NYT , NY TIMES STK A
-2.45% , ABC , AMERISOURCEBERGN
-1.61% , GD , GENERAL DYNAMICS
-3.21% , LIZ , LIZ CLAIRBORNE
-1.61% , KLAC , KLA TENCOR
-1.83% , BMS , BEMIS
-1.41% , CAH , CARDINAL HEALTH
-3.36% , SRCL , Stericycle, SRCL
-0.67% , THD , Thailand MSCI iS, THD
-0.99% , PMTC.O , PARAMETRIC
-2.98% , COP , CONOCOPHILLIPS
-0.37% , PWJ , Growth Mid Cap Dynamic PS, PWJ
-2.65% , SWY , SAFEWAY
-0.56% , EWW , Mexico Index, EWW
-0.54% , BDH , Broadband H, BDH
-2.67% , MU.O , MICRON TECH
-2.39% , SIL , Silver Miners Global X, SIL

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 4/28/11, 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 39.89, 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 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) Neutral, Market Weight. The Relative Strength Ratio (XLU/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 2-year highs on 4/28/11 and, therefore, turned bullish. 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 4/28/11, 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 closed higher again on 4/28/11, although only slightly higher. Slowing upside momentum clouds the outlook for the short-term trend, but the longer term trends remain bullish. Support 110.71, 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 113.97, 114.05, 120.42, 130.0, and 147.27.

Gold nearest futures contract price rose above all-time highs on 4/28/11, 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 2 days’ highs on 4/28/11. 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: 49.82 and 50.35.

Silver/Gold Ratio rose above 27-year highs on 4/28/11, again reconfirming its preexisting bullish major trend.

Copper nearest futures contract price fell below the lows of the previous 5 trading days on 4/28/11 before reversing to close slightly higher. The short-term price trend still appears to be down. 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 4.207, 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 recovered the previous day’s loss on 4/28/2011. The short-term trend may still be up, and 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 41.32 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 4/28/11, 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 4/28/11, 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, following through on the recent 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

2.69% Japan Index, EWJ
1.55% Pacific VIPERs, VPL
1.48% REIT Wilshire, RWR
1.37% Realty Cohen & Steers, ICF
1.34% REIT VIPERs, VNQ
1.12% Real Estate US DJ, IYR
1.10% Transportation Av DJ, IYT
1.08% Frontier Markets Guggenheim , FRN
0.89% Value EAFE MSCI, EFV
0.88% Utilities SPDR, XLU
0.83% Utilities VIPERs, VPU
0.82% Small Cap EAFE MSCI iS, SCZ
0.80% Financial SPDR, XLF
0.80% Spain Index, EWP
0.78% Financials VIPERs, VFH
0.78% Financial DJ US, IYF
0.77% Germany Index, EWG
0.76% Bond, 20+ Years Treasury, TLT
0.68% EAFE Index, EFA
0.64% Consumer Staples SPDR, XLP
0.63% Value 1000 Russell, IWD
0.58% EMU Europe Index, EZU
0.58% DIAMONDS (DJIA), DIA
0.56% France Index, EWQ
0.55% Silver Trust iS, SLV
0.55% Italy Index, EWI
0.54% Dividend SPDR, SDY
0.51% Health Care SPDR, XLV
0.49% Telecom DJ US, IYZ
0.48% Bond Ex-US Treas, BWX
0.46% Value SmallCap Russell 2000, IWN
0.46% SmallCap Russell 2000, IWM
0.45% Belgium Index, EWK
0.45% Sweden Index, EWD
0.45% Value S&P 500 B, IVE
0.45% Value MidCap Russell, IWS
0.45% Value VIPERs, VTV
0.45% Microcap Russell, IWC
0.43% Dividend Appreciation Vipers, VIG
0.43% Value SmallCap VIPERS, VBR
0.42% Gold Shares S.T., GLD
0.41% Dividend DJ Select, DVY
0.41% Growth EAFE MSCI, EFG
0.40% Europe 350 S&P Index, IEV
0.40% Basic Materials DJ US, IYM
0.40% Consumer Discretionary SPDR, XLY
0.38% Bond, 10 Year Treasury, IEF
0.38% Global ex US ACWI iS, ACWX
0.38% Financial Services DJ, IYG
0.38% Global 100, IOO
0.35% LargeCap VIPERs, VV
0.35% Value SmallCap S&P 600 B, IJS
0.35% LargeCap Blend S&P=Weight R, RSP
0.35% Turkey MSCI iS, TUR
0.35% S&P 500 iS LargeCap Blend, IVV
0.34% Growth S&P 500/BARRA, IVW
0.34% Industrial SPDR, XLI
0.33% Dividend High Yield Equity PS, PEY
0.32% S&P 500 SPDRs LargeCap Blend, SPY
0.32% Bond, Corp, LQD
0.32% LargeCap 1000 R, IWB
0.30% Growth VIPERs, VUG
0.30% Blend Total Market VIPERs, VTI
0.30% Bond, TIPS, TIP
0.30% Water Resources, PHO
0.29% Growth SmallCap R 2000, IWO
0.28% Bond EmrgMkt JPM iS, EMB
0.27% LargeCap Blend Russell 3000, IWV
0.27% Biotech SPDR, XBI
0.26% LargeCap Blend S&P 100, OEF
0.26% Homebuilders SPDR, XHB
0.26% Hong Kong Index, EWH
0.25% Australia Index, EWA
0.25% Bond Muni ATM-Free S&P iS, MUB
0.25% Value LargeCap Dynamic PS, PWV
0.24% SmallCap S&P 600, IJR
0.24% Bond, Aggregate, AGG
0.23% European VIPERs, VGK
0.22% Financial Preferred, PGF
0.22% Switzerland Index, EWL
0.21% South Africa Index, EZA
0.21% Growth BARRA Small Cap 600, IJT
0.20% Bond, High-Yield Junk, JNK
0.19% Indonesia MV, IDX
0.18% Growth MidCap 400 B, IJK
0.17% Networking, IGN
0.16% Growth SmallCap VIPERs, VBK
0.15% Preferred Stock iS, PFF
0.14% Small Cap VIPERs, VB
0.13% Growth 1000 Russell, IWF
0.12% Metals & Mining SPDR, XME
0.10% WilderHill Clean Energy PS, PBW
0.09% Value MidCap S&P 400 B, IJJ
0.06% Growth MidCap Russell, IWP
0.05% Bond, High-Yield Corporate, HYG
0.05% MidCap Russell, IWR
0.05% MidCap S&P 400 SPDRs, MDY
0.04% Technology DJ US, IYW
0.04% Pacific ex-Japan, EPP
0.04% Technology SPDR, XLK
0.02% Semiconductor SPDR, XSD
0.01% Info Tech VIPERs, VGT
0.00% Energy Global, IXC
0.00% Bond, 1-3 Year Treasury, SHY
-0.01% Energy SPDR, XLE
-0.02% Materials SPDR, XLB
-0.03% Bond Treasury Short-Term iS, SHV
-0.03% South Korea Index, EWY
-0.06% Canada Index, EWC
-0.09% Chile MSCI iS, ECH
-0.12% Dividend International, PID
-0.13% Energy & Nat Res iS GS, IGE
-0.14% Singapore Index, EWS
-0.15% QQQ Nasdaq 100 Trust, QQQ
-0.16% United Kingdom Index, EWU
-0.22% Energy DJ, IYE
-0.23% Energy VIPERs, VDE
-0.28% China LargeCap Growth G D H USX PS, PGJ
-0.33% Capital Markets KWB ST, KCE
-0.33% Malaysia Index, EWM
-0.41% Oil Fund PowerShares, DBO
-0.42% Netherlands Index, EWN
-0.42% Oil, Crude, U.S. Oil Fund, USO
-0.51% Semiconductor iS IGW, SOXX
-0.56% Mexico Index, EWW
-0.57% Taiwan Index, EWT
-0.63% Russia MV, RSX
-0.67% Thailand MSCI iS, THD
-0.72% India Earnings WTree, EPI
-0.72% Commodity Tracking, DBC
-0.77% China 25 iS, FXI
-0.82% Emerging Markets, EEM
-0.82% Emerging VIPERs, VWO
-0.90% MidCap S&P 400 iS, IJH
-0.98% Austria Index, EWO
-1.00% India PS, PIN
-1.01% Emerging 50 BLDRS, ADRE
-1.02% Latin Am 40, ILF
-1.14% Agriculture DB PS, DBA
-1.35% Brazil Index, EWZ
-2.39% Silver Miners Global X, SIL