Gold, SPDR Gold Shares ETF (GLD) confirmed a bullish trend. GLD broke out above a 4-month downtrend line and rose above the highs of the previous 7 weeks.

Silver, iShares Silver Trust ETF (SLV) confirmed a bullish short-term trend. SLV broke out above a 4-month downtrend line and rose above the highs of the previous 8 weeks.

Copper, iPath DJ-UBS Copper TR Sub-Index ETN (JJC) rose above the highs of the previous 4 months.

U.S. dollar ETF (UUP) confirmed a downside correction. UUP fell below the lows of the previous 7 weeks.

Consumer Discretionary, Industrial, Health Care, and Technology major stock sectors rose of their price highs of the previous 6-months.

The S&P 500 Composite (SPX: 1,326.06) rose 0.87% on Wednesday on more active trading volume. SPX was down all morning but suddenly turned up in the early afternoon when the Federal Reserve again reaffirmed its easy monetary policy. SPX closed at its highest level in nearly 6 months, confirming its uptrend.

VIX Fear Index broke down below the lows of the previous 5-months.
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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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Stock Market Indicators

Investors Intelligence Sentiment: There were 71.3% Bulls plus Neutrals versus 28.7% Bears, according to the Investors Intelligence weekly survey of stock market newsletter advisors reported on 1/25/11. This represents moderately above average level of bullish sentiment: the 20-year median of Bulls plus Neutrals is 69.5 and the mean is 69.0.

AAII Sentiment: There were 47% Bulls and 24% Bears last week. That was a moderate downward adjustment in mood from the previous week’s reading, which was 1.3 standard deviations more optimistic than the 20-year average.

VIX Fear Index broke down below the lows of the previous 5-months on 1/25/12, hitting 17.15 intraday. That is down from recent peaks of 30.91 on 12/8/11, 37.83 on 11/1/11, 46.88 on 10/4/11, and 48.00 on 8/8/11. This drop indicates a shift away from fear and toward confidence, which, according to Humphrey Bancroft Neill’s Art of Contrary Thinking, may be bearish. 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 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

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
1257.22, 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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Tangible Assets, Commodities

U.S. dollar ETF (UUP) confirmed a downside correction. UUP fell below the lows of the previous 7 weeks on 1/25/12 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 14 trading days. USO broke out above the highs of the previous 7 months on 1/4/12, thereby confirming a major uptrend. Support 37.49, 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) confirmed a bullish trend. GLD broke out above a 4-month downtrend line and rose above the highs of the previous 7 weeks on 1/25/12. GLD 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: 160.29, 159.68, 158.01, 156.19, 154.55, 148.27, 147.19, 143.97, 143.42, and 142.55. Resistance: 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) confirmed a bullish short-term trend. SLV broke out above a 4-month downtrend line and rose above the highs of the previous 8 weeks on 1/25/12. SLV 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 30.67, 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 1/25/12 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
14.58% , TXT , TEXTRON
2.83% , IAU , Gold COMEX iS, IAU
1.23% , TMW , Wilshire 5000 ST TM, TMW
1.31% , RFV , Value MidCap S&P 400, RFV
8.65% , HGSI , Human Genome Sciences Inc
0.84% , XLG , LargeCap Rydex Rus Top 50, XLG
1.49% , PBE , Biotech & Genome, PBE
4.93% , LVLT.K , LEVEL 3 COMMUNICATIONS
4.61% , SIL , Silver Miners Global X, SIL
2.72% , GLD , Gold Shares S.T., GLD
2.15% , PXE , Energy Exploration & Prod, PXE
4.15% , SLV , Silver Trust iS, SLV
4.69% , UIS , UNISYS
4.00% , SYK , STRYKER
0.91% , IWV , LargeCap Blend Russell 3000, IWV
6.24% , AAPL , APPLE COMPUTER
4.47% , HSP , HOSPIRA
6.00% , BMS , BEMIS
1.56% , ADRE , Emerging 50 BLDRS, ADRE
3.56% , STLD , Steel Dynamics, STLD
1.14% , IJJ , Value MidCap S&P 400 B, IJJ
3.55% , XME , Metals & Mining SPDR, XME
0.57% , JKF , Value LargeCap iS M, JKF
1.99% , TUR , Turkey MSCI iS, TUR
4.97% , X , US STEEL CORP
2.21% , EPU , Peru MSCI iS, EPU
2.11% , XEL , XCEL ENERGY
2.31% , RSX , Russia MV, RSX
4.51% , STJ , ST JUDE MEDICAL
2.68% , BSX , BOSTON SCIENT
3.82% , LUV , SOUTHWEST AIRLS
3.59% , PM , Philip Morris, PM
2.12% , XHB , Homebuilders SPDR, XHB

Bearish Stocks: Falling Price and Rising Volume
Ranked by Price Change * Volume Change
% Price Change, Symbol, Name
-9.92% , XRX , XEROX
-10.74% , GLW , CORNING
-15.44% , ERIC.O , LM Ericsson Telephone Company
-6.10% , MSI , Motorola Solutions, MSI
-4.02% , LNC , LINCOLN NATL
-4.76% , WLP , WELLPOINT HEALTH
-4.10% , GWW , WW GRAINGER
-4.99% , HES , AMERADA HESS
-3.39% , STT , STATE STREET
-1.64% , FEU , Value LargeCap Euro STOXX 50 DJ, FEU
-3.32% , MOLX , MOLEX
-3.15% , BK , BANK OF NEW YORK
-2.69% , SCHW.K , CHARLES SCHWAB, SCHW.O
-1.52% , ATI , ALLEGHENY TECH
-2.78% , PX , PRAXAIR
-2.85% , ROK , ROCKWELL AUTOMAT
-0.87% , PST , 200% Short Bond 7-10 Yr T, PST
-1.94% , ETFC , E*TRADE FINANCIAL
-2.01% , MWV , MEADWESTVACO
-2.59% , QID , Short 200% QQQ PS, QID
-2.60% , MET , METLIFE
-1.24% , NTRS , NORTHERN TRUST
-2.15% , HIG , HARTFORD FINL
-1.34% , DXD , Short 200% Dow 30 PS, DXD
-1.52% , NWSA , News Corporation, NWSA
-1.98% , CCL , CARNIVAL STK A
-2.18% , GNW , GENWORTH FINANCIAL
-2.61% , IP , INTL PAPER
-0.95% , JCP , JC PENNEY
-1.50% , XLNX , XILINX
-1.33% , PWER , POWER ONE
-1.40% , HUM , HUMANA
-1.97% , GOOG , Google
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One-Day Ranking of Major ETFs, Ranked from Strongest to Weakest of the Day:
% Price Change, ETF Name, Symbol
4.15% Silver Trust iS, SLV
3.55% Metals & Mining SPDR, XME
2.72% Gold Shares S.T., GLD
2.58% Australia Index, EWA
2.53% Biotech SPDR, XBI
2.31% Russia MV, RSX
2.31% Pacific ex-Japan, EPP
2.12% Homebuilders SPDR, XHB
2.09% Energy & Nat Res iS GS, IGE
2.08% Singapore Index, EWS
1.99% Turkey MSCI iS, TUR
1.97% Brazil Index, EWZ
1.90% Austria Index, EWO
1.89% Basic Materials DJ US, IYM
1.81% India Earnings WTree, EPI
1.79% Mexico Index, EWW
1.76% Canada Index, EWC
1.74% Frontier Markets Guggenheim , FRN
1.65% Utilities SPDR, XLU
1.64% Italy Index, EWI
1.62% Latin Am 40, ILF
1.60% Utilities VIPERs, VPU
1.60% Pacific VIPERs, VPL
1.59% Materials SPDR, XLB
1.56% Emerging 50 BLDRS, ADRE
1.52% India PS, PIN
1.42% Realty Cohen & Steers, ICF
1.40% Netherlands Index, EWN
1.38% South Africa Index, EZA
1.38% Growth MidCap Russell, IWP
1.37% Growth VIPERs, VUG
1.35% Energy VIPERs, VDE
1.35% EMU Europe Index, EZU
1.35% Transportation Av DJ, IYT
1.33% Japan Index, EWJ
1.32% REIT Wilshire, RWR
1.31% Energy DJ, IYE
1.29% REIT VIPERs, VNQ
1.28% Germany Index, EWG
1.28% Real Estate US DJ, IYR
1.27% Growth 1000 Russell, IWF
1.26% Belgium Index, EWK
1.26% QQQ Nasdaq 100 Trust, QQQ
1.25% France Index, EWQ
1.23% Energy SPDR, XLE
1.17% Emerging VIPERs, VWO
1.16% Global ex US ACWI iS, ACWX
1.15% MidCap Russell, IWR
1.15% Consumer Staples SPDR, XLP
1.14% China 25 iS, FXI
1.14% Value MidCap S&P 400 B, IJJ
1.14% Growth EAFE MSCI, EFG
1.14% Emerging Markets, EEM
1.13% Telecom DJ US, IYZ
1.12% Growth S&P 500/BARRA, IVW
1.11% Industrial SPDR, XLI
1.10% Water Resources, PHO
1.07% Value MidCap Russell, IWS
1.05% Small Cap EAFE MSCI iS, SCZ
1.05% Growth SmallCap VIPERs, VBK
1.05% China LargeCap Growth G D H USX PS, PGJ
1.04% EAFE Index, EFA
1.03% MidCap S&P 400 SPDRs, MDY
1.02% Technology DJ US, IYW
1.00% Growth SmallCap R 2000, IWO
1.00% LargeCap Blend S&P=Weight R, RSP
0.99% European VIPERs, VGK
0.98% MidCap S&P 400 iS, IJH
0.97% Spain Index, EWP
0.96% Small Cap VIPERs, VB
0.94% Microcap Russell, IWC
0.93% LargeCap VIPERs, VV
0.93% Value SmallCap VIPERS, VBR
0.93% Dividend DJ Select, DVY
0.92% South Korea Index, EWY
0.92% Value EAFE MSCI, EFV
0.92% Blend Total Market VIPERs, VTI
0.91% LargeCap Blend Russell 3000, IWV
0.91% LargeCap 1000 R, IWB
0.89% LargeCap Blend S&P 100, OEF
0.89% Growth MidCap 400 B, IJK
0.88% Bond, High-Yield Corporate, HYG
0.87% Bond, High-Yield Junk, JNK
0.85% SmallCap Russell 2000, IWM
0.84% Value SmallCap S&P 600 B, IJS
0.84% S&P 500 SPDRs LargeCap Blend, SPY
0.84% Taiwan Index, EWT
0.83% S&P 500 iS LargeCap Blend, IVV
0.83% Commodity Tracking, DBC
0.80% Energy Global, IXC
0.79% Malaysia Index, EWM
0.78% Technology SPDR, XLK
0.78% Dividend SPDR, SDY
0.77% Bond, TIPS, TIP
0.75% Value SmallCap Russell 2000, IWN
0.73% Health Care SPDR, XLV
0.73% Consumer Discretionary SPDR, XLY
0.72% United Kingdom Index, EWU
0.72% Info Tech VIPERs, VGT
0.70% SmallCap S&P 600, IJR
0.69% Global 100, IOO
0.69% Thailand MSCI iS, THD
0.68% Europe 350 S&P Index, IEV
0.67% Bond Muni ATM-Free S&P iS, MUB
0.66% Oil, Crude, U.S. Oil Fund, USO
0.65% Value S&P 500 B, IVE
0.65% DIAMONDS (DJIA), DIA
0.64% Dividend Appreciation Vipers, VIG
0.59% Value 1000 Russell, IWD
0.56% Bond Ex-US Treas, BWX
0.55% Oil Fund PowerShares, DBO
0.52% WilderHill Clean Energy PS, PBW
0.50% Growth BARRA Small Cap 600, IJT
0.48% Bond, 10 Year Treasury, IEF
0.47% Value VIPERs, VTV
0.47% Hong Kong Index, EWH
0.43% Dividend High Yield Equity PS, PEY
0.43% Semiconductor iS IGW, SOXX
0.34% Agriculture DB PS, DBA
0.34% Financial DJ US, IYF
0.34% Bond, Corp, LQD
0.33% Financials VIPERs, VFH
0.33% Dividend International, PID
0.31% Semiconductor SPDR, XSD
0.29% Bond EmrgMkt JPM iS, EMB
0.29% Preferred Stock iS, PFF
0.25% Switzerland Index, EWL
0.21% Financial SPDR, XLF
0.18% Financial Services DJ, IYG
0.17% Financial Preferred, PGF
0.15% Bond, Aggregate, AGG
0.11% Value LargeCap Dynamic PS, PWV
0.06% Bond, 1-3 Year Treasury, SHY
0.01% Bond Treasury Short-Term iS, SHV
-0.07% Sweden Index, EWD
-0.23% Networking, IGN
-0.24% Bond, 20+ Years Treasury, TLT
-0.29% Capital Markets KWB ST, KCE
-0.32% Chile MSCI iS, ECH
-0.82% Indonesia MV, IDX
-0.86% Bear, Short S&P 500, SH