Financial Stock Sector Relative Strength Ratio (XLF/SPY) whipsawed back above its 50-day SMA on 4/23/13, thereby turning systematically bullish again.
Foreign Stocks ETF (EFA) Relative Strength Ratio (EFA/SPY) whipsawed back above its 50-day SMA on 4/23/13, thereby turning systematically bullish again–but only by a very small margin. EFA/SPY has been losing long-term momentum since 12/28/12. If EFA/SPY turns back down, the ratio still could be heading for a 50/200 bearish crossover in weeks ahead.
Industrial Stock Sector Relative Strength Ratio (XLI/SPY) fell below its lows of the previous 4 months on 4/23/13.
Silver/Gold ETFs Ratio (SLV/GLD) fell below its lows of the previous 2 years on 4/23/13, again confirming a major downtrend.
Copper, iPath DJ-UBS Copper TR Sub-Index ETN (JJC) price fell below its lows of the previous 2 years on 4/23/13, reconfirming a bearish major trend.
On Tuesday, U.S. stocks gapped higher on the open, typically following the overnight lead by European markets. Prices peaked at midday, shortly after trading in Europe closed, then turned choppy in the afternoon. A hacker’s false Twitter post saying there were explosions at the White House caused a two-minute, one percent “flash crash”, but stock prices snapped back immediately as the post was refuted by reliable sources.
My interpretation of the technical indicators suggests that the medium-term stock market uptrend evident from November into early April may be over.
The S&P 500 Composite Index (SPX: 1,578.78) finished up 1.04%, the Nasdaq Composite Index rose 1.11%, the Dow Jones Industrial Average advanced by 1.05%, and the Dow Jones Transportation Average rose 0.28%.
NYSE total volume rose 20% to a level 11% above its 200-day SMA.
Breadth was positive, with 3,087 Advances and 1,876 Declines. In addition, Advancing/Declining Volume was positive, with 3.0 Advancing Stock Volume to 1.0 Declining Stock Volume.
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Stock Market Indicators
The Dow Theory last confirmed a Primary Tide Bull Market on 3/14/13, when both Dow-Jones Industrial and Transportation Averages closed at new price highs. The Dow-Jones Industrial Average closed at a higher high on 4/11/13, while the Dow-Jones Transportation Average rose to a lower high, thereby continuing a bearish divergence.
NASDAQ 100/S&P 500 Relative Strength Ratio (QQQ/SPY) fell below its lows of the previous 19 months on 4/18/13. QQQ/SPY has remained systematically bearish most of the time since 11/7/12, when the 50-day SMA fell below the 200-day SMA. Absolute price turned systematically neutral on 4/5/13 when it fell below the 50-day SMA.
iShares MSCI BRIC Fund (BKF) Relative Strength Ratio (BKF/SPY) fell below the lows of the previous 4 years on 4/17/13, reconfirming its major downtrend. BKF/SPY turned systematically bearish on 3/27/13, when the 50-day SMA crossed below the 200-day SMA. BKF/SPY fell below its 50-day SMA on 2/4/13 and fell below its 200-day SMA on 2/19/13. Price peaked at 42.29 on 2/1/13 and fell to a 5-month low on 4/17/13.
Emerging Markets Stocks ETF (EEM) Relative Strength Ratio (EEM/SPY) fell below the lows of the previous 4 years on 4/15/13, reconfirming its major downtrend. EEM/SPY turned systematically bearish on 3/20/13, when the 50-day SMA fell below the 200-day SMA. Price peaked at 45.34 on 1/2/13 and fell to a 5-month low on 4/17/13.
Foreign Stocks ETF (EFA) Relative Strength Ratio (EFA/SPY) whipsawed back above its 50-day SMA on 4/23/13, thereby turning systematically bullish again–but only by a very small margin. EFA/SPY has been losing long-term momentum since 12/28/12. If EFA/SPY turns back down, the ratio still could be heading for a 50/200 bearish crossover in weeks ahead.
The Largest Cap S&P 100/S&P 500 Relative Strength Ratio (OEF/SPY) turned systematically neutral again (from bearish) on 4/22/13, when whipsawed back up above its 50-day SMA. Large Caps tend to outperform in bearish general market trends as investors seek the perceived relative stability and safety of large size. On the other hand, Large Caps tend to underperform Mid Caps and Small Caps in bullish general market trends as investors seek greater potential returns in more volatile, smaller stocks.
The Small Cap Russell 2000 Index/Large Cap Relative Strength Ratio (IWM/SPY) fell below the lows of the previous 3 months on 4/17/13. IWM/SPY turned systematically neutral on 4/1/13 when it fell below the 50-day SMA. IWM/SPY fell below the 200-day SMA on 4/15/13. Absolute price peaked on 3/15/13 and has been lagging the broader stock market price indexes since then, thereby demonstrating a bearish divergence.
The S&P Mid Cap 400/Large Cap Relative Strength Ratio (MDY/SPY) fell below the lows of the previous 3 months on 4/18/13. MDY/SPY turned systematically neutral (from bullish) on 4/1/13 when it fell below the 50-day SMA. Absolute price turned systematically neutral (from bullish) on 4/17/13. MDY/SPY has been lagging the broader stock market price indexes since 3/20/13.
Daily price momentum oscillators have been diverging bearishly for many weeks and months while most of the stock price indexes rose to higher highs. Daily price momentum oscillators have remained below their highs of January, 2013, as well as below their 2011-2012 highs. For example, RSI(14) based on the S&P 500 Index peaked at 74.46 on 1/29/13 but was only able to rise to 67.28 on 4/11/13 when the S&P 500 closed at a higher high. And MACD(12,26,9) peaked at 17.88 on 1/29/13 but was only 11.48 on 4/11/13. In addition, NYSE Net New Highs, the percentage of stocks in the S&P 500 trading above their 50-day SMAs, and the Bullish Percentage of stocks in the S&P 500 in Point-and-Figure Chart uptrends all failed to rise to higher highs in April 2013. Bearishly diverging momentum is a problem because momentum is a leading indicator of price.
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Fixed-Income Investments
Bond, iShares Barclays 20+ Year U.S. Treasury ETF (TLT) price rose above its highs of the past 5 months on 4/23/13, thereby confirming a medium-term uptrend. Previously, price rose above its 50-day SMA on 3/22/13, thereby turning systematically neutral. Various technical oscillators, such as RSI and MACD, are now pointing upward after showing losses of downside momentum and bullish divergences since 2/1/13. Support 119.88, 117.49, 114.62, 109.69, 106.08, 103.20, 102.27, 96.31, 94.83, 93.14, 89.65, and 88.14. Resistance: 123.79, 126.08, 127.19, 127.72, 130.69, and 132.22.
Bond, iShares Barclays 7-10 Year U.S. Treasury ETF (IEF) price rose above its highs of the past 5 months on 4/23/13, thereby confirming a medium-term uptrend. Previously, price rose above its 50-day SMA on 3/18/13, thereby turning systematically neutral. IEF formed a technical base after hitting an “oversold” low at 105.56 on 2/1/13 and successfully testing that low 3 times. Various technical oscillators, such as RSI and MACD, are now pointing upward after showing losses of downside momentum and bullish divergences since 2/1/13. Support 107.71, 107.22, 106.56, 105.56, 105.22, 104.77, 103.90, 102.51, 101.77, 101.36, 101.11, 99.79, and 97.66. Resistance: 109.04, 109.20, 109.32, and 109.89.
Junk/Investment-Grade Corporate Bond ETFs Relative Strength Ratio (JNK/LQD) fell below its 50-day SMA on 4/3/13, thereby turning systematically neutral again. JNK/LQD has been neutral for most of the past 3 years, and neutral appears to be the long-term trend.
U.S. Treasury Inflation Protected / U.S. Treasury 7-10 Year ETFs Relative Strength Ratio (TIP/IEF) whipsawed back down below its 50-day SMA on 3/18/13, thereby turning systematically neutral again. Longer term, TIP/IEF has been neutral for most of the past 3 years. Absolute price of TIP peaked at 123.44 on 12/6/12 and remains systematically neutral.
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Tangible Assets, Commodities
U.S. dollar ETF (UUP) price turned systematically bullish (from neutral) on 4/17/13, when it whipsawed back above the 50-day SMA. Longer term, UUP has been consolidating secular trend losses since bottoming at 20.84 on 5/4/11. Support 22.21, 22.15, 21.53, 21.07, and 20.84. Resistance 22.69, 22.78, 22.96, 23.14, 23.52, 25.84, 27.19, and 28.97.
Agriculture, PowerShares DB Agriculture Fund ETF (DBA) price fell below its lows of the previous 2 years on 4/15/13, again confirming its major bearish trend. Price turned systematically bearish on 1/11/13 when the 50-day SMA crossed down below the 200-day SMA.
Crude Oil, United States Oil ETF (USO) price fell below its lows of the previous 9 months on 4/17/13. Price turned systematically bearish (from neutral) on 4/18/13 when the 50-day SMA fell below the 200-day SMA. Longer term, USO has been mostly bearish since peaking at 119.17 on 7/11/08. Support 29.02, 26.28, and 22.74. Resistance 32.31, 33.92, 34.86, 35.53, 37.17, 38.31, 40.29, 41.38, 42.30, and 45.60.
Gold, SPDR Gold Shares ETF (GLD) price fell below its lows of the previous 2 years on 4/15/13, thereby reconfirming its preexisting major bearish trend. Price turned systematically bearish on 2/22/13, when the 50-day SMA fell below the 200-day SMA. Longer term, GLD has been mostly bearish since peaking at 185.85 on 9/6/11. Support: 143.42 and 142.55. Resistance: 156.80, 164.40, 166.94, 170.01, 174.07, 175.46, 177.40, and 185.85.
Gold Mining Stocks ETF/Gold Shares ETF Relative Strength Ratio (GDX/GLD) turned systematically bearish again on 12/27/12, when the 50-day SMA crossed below the 200-day SMA. Longer term, GDX/GLD has remained mostly bearish for more than 6 years, since 9/5/06.
Silver, iShares Silver Trust ETF (SLV) price fell below its lows of the previous 2 years on 4/15/13, thereby reconfirming its preexisting major bearish trend. Price turned systematically bearish on 3/1/13, when the 50-day SMA fell below the 200-day SMA. Longer term, SLV has been mostly bearish since peaking at 48.35 on 4/28/11. Support 20.73 and 19.44. Resistance: 27.14, 27.35, 28.50, 28.61, 29.73, 31.41, 32.72, 33.31, 34.08, 36.44, 40.23, 41.49, 42.30, 42.78, 44.71, and 48.35.
Silver/Gold ETFs Ratio (SLV/GLD) fell below its lows of the previous 2 years on 4/23/13, confirming a major downtrend. SLV/GLD remains systematically bearish.
Copper, iPath DJ-UBS Copper TR Sub-Index ETN (JJC) price fell below its lows of the previous 2 years on 4/23/13, thereby reconfirming a bearish major trend. JJC remains systematically bearish. JJC has been mostly bearish since peaking at 61.69 on 2/14/11. “Dr. Copper” is widely accepted as one of the better indicators of investor confidence (or lack thereof) in the global industrial economy, so price weakness in Copper implies a weak economic outlook.
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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 later revealed to be deal stocks 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
8.09% , LXK , LEXMARK INTL STK A
9.80% , COH , COACH
5.12% , SNV , SYNOVUS
1.03% , VV , LargeCap VIPERs, VV
5.21% , AIG , AMER INTL GROUP
24.44% , NFLX , Netflix, NFLX
5.45% , MET , METLIFE
3.22% , WAT , WATERS
5.95% , PHM , PULTE HOMES
1.09% , IWS , Value MidCap Russell, IWS
1.54% , RPG , Growth S&P 500, RPG
0.96% , PBE , Biotech & Genome, PBE
5.32% , DHI , D.R. HORTON, DHI
6.86% , LEN , Lennar Corp. (LEN)
1.07% , PID , Dividend International, PID
3.37% , WHR , WHIRLPOOL
2.26% , XSD , Semiconductor SPDR, XSD
1.72% , IEV , Europe 350 S&P Index, IEV
1.61% , IXG , Financials Global LargeCap Value, IXG
3.62% , RF , REGIONS FINAN
1.50% , PGJ , China LargeCap Growth G D H USX PS, PGJ
4.27% , MAS , MASCO
1.18% , RPV , Value S&P 500, RPV
3.11% , BC , BRUNSWICK
3.65% , GNTX , Gentex Corporation
2.99% , BAC , BANK OF AMERICA
3.36% , DB , Deutsche Bank AG, DB
1.27% , IDX , Indonesia MV, IDX
1.62% , IYF , Financial DJ US, IYF
1.40% , PHO , Water Resources, PHO
1.84% , ESRX , EXPRESS SCRIPTS
1.11% , PRF , Value LargeCap Fundamental RAFI 1000, PRF
2.79% , LNC , LINCOLN NATL
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Bearish Stocks: Falling Price and Rising Volume
Ranked by Price Change * Volume Change
% Price Change, Symbol, Name
-6.91% , R , RYDER SYSTEM
-4.47% , SPLS , STAPLES
-3.97% , MOLX , MOLEX
-4.99% , GCI , GANNETT
-1.00% , HSIC , Henry Schein Inc
-1.46% , VIAB.O , VIACOM STK B
-1.70% , YUM , YUM BRANDS
-2.07% , SDS , Short 200% S&P 500 PS, SDS
-2.56% , CTSH , Cognizant Technology Solutions
-1.29% , APD , AIR PRODS & CHEM
-1.70% , QID , Short 200% QQQ PS, QID
-1.05% , MJN , Mead Johnson Nutrition
-1.08% , SH , Short 100% S&P 500, SH
-2.04% , DXD , Short 200% Dow 30 PS, DXD
-1.87% , CLF , CLIFFS NATURAL RESOURCES, CLF
-1.02% , IR , INGER RAND
-1.11% , SLM.O , SLM CORP
-1.20% , ERIC.O , LM Ericsson Telephone Company
-0.79% , UTX , UNITED TECH
-0.92% , PSQ , Short 100% QQQ, PSQ
-1.86% , XRX , XEROX
-0.25% , ZEUS , Olympic Steel, ZEUS
-0.35% , THD , Thailand MSCI iS, THD
-0.33% , NYT , NY TIMES STK A
-0.21% , CMS , CMS ENERGY
-0.53% , BHI , BAKER HUGHES
-0.27% , ETR , ENTERGY
-1.61% , FLR , FLUOR
-0.57% , PCAR , PACCAR
-0.62% , DBC , Commodity Tracking, DBC
-0.43% , CBS , CBS CORP.
-2.90% , NEM , NEWMONT MINING
-0.05% , MSI , Motorola Solutions, MSI
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One-Day Ranking of Major ETFs, Ranked from Strongest to Weakest of the Day:
% Price Change, ETF Name, Symbol
2.79% , Spain Index, EWP
2.75% , WilderHill Clean Energy PS, PBW
2.59% , France Index, EWQ
2.56% , Homebuilders SPDR, XHB
2.48% , Italy Index, EWI
2.26% , Semiconductor SPDR, XSD
2.23% , EMU Europe Index, EZU
2.06% , Semiconductor iS IGW, SOXX
1.92% , Capital Markets KWB ST, KCE
1.86% , South Africa Index, EZA
1.85% , Netherlands Index, EWN
1.80% , Microcap Russell, IWC
1.80% , Germany Index, EWG
1.80% , Financial Services DJ, IYG
1.80% , Financial SPDR, XLF
1.78% , European VIPERs, VGK
1.72% , Europe 350 S&P Index, IEV
1.67% , SmallCap Value Russell 2000 iS, IWN
1.67% , Financials VIPERs, VFH
1.66% , United Kingdom Index, EWU
1.65% , Australia Index, EWA
1.63% , SmallCap Value S&P 600 iS, IJS
1.62% , Networking, IGN
1.62% , Financial DJ US, IYF
1.59% , SmallCap Growth S&P 600 iS, IJT
1.58% , SmallCap Blend Russell 2000 iS, IWM
1.58% , SmallCap Blend S&P 600 iS, IJR
1.53% , Telecom DJ US, IYZ
1.50% , China LargeCap Growth G D H USX PS, PGJ
1.48% , SmallCap Growth Russell 2000 iS, IWO
1.43% , Value EAFE MSCI, EFV
1.42% , Foreign LargeCap EAFE MSCI iS, EFA
1.40% , Water Resources, PHO
1.39% , Info Tech VIPERs, VGT
1.34% , Growth EAFE MSCI, EFG
1.33% , Global 100, IOO
1.32% , Value SmallCap VIPERS, VBR
1.31% , Latin Am 40, ILF
1.30% , Switzerland Index, EWL
1.27% , Indonesia MV, IDX
1.27% , Small Cap VIPERs, VB
1.27% , Technology DJ US, IYW
1.23% , Growth MidCap Russell, IWP
1.22% , Growth SmallCap VIPERs, VBK
1.21% , SmallCap Blend EAFE MSCI iS, SCZ
1.20% , Brazil Index, EWZ
1.15% , Energy SPDR, XLE
1.14% , Energy VIPERs, VDE
1.13% , Dividend High Yield Equity PS, PEY
1.13% , MidCap Russell, IWR
1.13% , LargeCap Value Russell 1000 iS, IWD
1.13% , MidCap Growth S&P 400 iS, IJK
1.11% , Energy DJ, IYE
1.10% , Chile MSCI iS, ECH
1.10% , Technology SPDR, XLK
1.10% , Value VIPERs, VTV
1.09% , Value LargeCap Dynamic PS, PWV
1.09% , Value MidCap Russell, IWS
1.09% , MidCap Blend S&P 400 iS, IJH
1.09% , MidCap Value S&P 400 iS, IJJ
1.08% , Blend Total Market VIPERs, VTI
1.07% , Dividend International, PID
1.06% , LargeCap Value S&P 500 iS, IVE
1.06% , LargeCap Blend Russell 3000 iS, IWV
1.06% , Growth VIPERs, VUG
1.06% , LargeCap Growth S&P 500 iS, IVW
1.05% , Belgium Index, EWK
1.04% , LargeCap Blend Russell 1000 iS, IWB
1.03% , LargeCap VIPERs, VV
1.03% , Global ex U.S. LargeCap Blend, ACWX
1.03% , LargeCap Blend S&P=Weight R, RSP
1.03% , S&P 500 SPDRs LargeCap Blend, SPY
1.02% , LargeCap Blend S&P 500 iS, IVV
1.02% , DIAMONDS (DJIA), DIA
1.02% , Energy Global, IXC
1.02% , Dividend ex-U.S. DJ iS, IDV
1.01% , MidCap S&P 400 SPDRs, MDY
1.01% , Consumer Discretionary SPDR, XLY
1.01% , LargeCap Blend S&P 100, OEF
0.99% , Pacific ex-Japan, EPP
0.99% , Global LargeCap Blend MSCI iS, ACWI
0.96% , QQQ Nasdaq 100 Trust, QQQ
0.94% , Dividend Appreciation Vipers, VIG
0.93% , India PS, PIN
0.93% , Japan Index, EWJ
0.90% , LargeCap Growth Russell 1000 iS, IWF
0.90% , Turkey MSCI iS, TUR
0.89% , Dividend SPDR, SDY
0.87% , Materials SPDR, XLB
0.85% , Pacific VIPERs, VPL
0.82% , Basic Materials DJ US, IYM
0.78% , Consumer Staples SPDR, XLP
0.77% , Dividend U.S. DJ iS, DVY
0.73% , Industrial SPDR, XLI
0.69% , Emerging 50 BLDRS, ADRE
0.67% , Biotech SPDR, XBI
0.66% , Energy & Nat Res iS GS, IGE
0.63% , Health Care SPDR, XLV
0.58% , Real Estate US DJ iS, IYR
0.56% , Mexico Index, EWW
0.56% , REIT VIPERs, VNQ
0.54% , Realty Cohen & Steers, ICF
0.52% , REIT Wilshire, RWR
0.50% , Emerging VIPERs, VWO
0.49% , India Earnings WTree, EPI
0.48% , Emerging Markets MSCI iS, EEM
0.46% , Austria Index, EWO
0.43% , Transportation Av DJ, IYT
0.39% , Bond, High Yield Corp iBoxx iS, HYG
0.38% , South Korea Index, EWY
0.32% , Preferred Stock iS, PFF
0.32% , Bond, High-Yield Junk, JNK
0.26% , Sweden Index, EWD
0.25% , Utilities VIPERs, VPU
0.25% , Utilities SPDR, XLU
0.22% , Frontier Markets Guggenheim , FRN
0.22% , Financial Preferred, PGF
0.20% , Oil Fund PowerShares, DBO
0.19% , Bond, Emerging Mkt JPM iS, EMB
0.13% , Bond, Long-Term Corp iBoxx iS, LQD
0.13% , Oil, Crude, U.S. Oil Fund, USO
0.08% , Russia MV, RSX
0.07% , Taiwan Index, EWT
0.06% , Malaysia Index, EWM
0.05% , Bond, TIPS U.S. Treasury iS, TIP
0.04% , Bond, Muni S&P ATM-Free iS, MUB
0.04% , Canada Index, EWC
0.00% , Bond Treasury Short-Term iS, SHV
-0.01% , Bond, 1-3 Year Treasury, SHY
-0.04% , Bond, Intermediate US Aggregate iS, AGG
-0.06% , Bond, 10 Year Treasury, IEF
-0.20% , Hong Kong Index, EWH
-0.27% , Bond Ex-US Treas, BWX
-0.35% , Bond, 20+ Years Treasury, TLT
-0.35% , Thailand MSCI iS, THD
-0.55% , China 25 iS, FXI
-0.58% , Singapore Index, EWS
-0.62% , Commodity Tracking, DBC
-0.62% , Metals & Mining SPDR, XME
-0.74% , Gold Shares S.T., GLD
-0.81% , Agriculture DB PS, DBA
-1.08% , Bear, Short S&P 500, SH
-1.95% , Silver Trust iS, SLV
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The S&P 500 Composite Potential Resistance
1597.35, intraday high of 4/11/2013
The S&P 500 Composite Potential Support
1546.18, 50-day SMA
1536.03, low of 4/18/2013
1485.01, low of 2/26/2013
1474.51, high of 9/14/2012
1463.76, low of 1/15/2013
1454.51, 200-day SMA
1451.64, low on 1/8/13
1448.00, high of 12/19/2012
1440.24, high of 5/19/2008
1439.15, high of 9/12/2012
1438.59, high of 12/12/2012
1434.27, high of 11/2/2012
1432.82, low of 12/20/2012
1430.53, low of 9/26/2012
1426.76, low of 12/12/2012
1425.53, low of 10/12/2012
1423.73, high of 12/3/2012
1422.58, low of 12/21/2012
1422.38, high of 4/2/2012
1422.06, low of 10/22/2012
1421.12, high of 10/25/2012
1420.34, high of 12/7/2012
1419.70, high of 11/29/2012
1418.71, high of 8/17/2012
1415.32, high of 5/1/2012
1409.16, high of 11/23/2012
1403.28, low of 10/26/12
1401.58, low of 12/28/12
1398.11, low of 12/31/2012
1397.68, low of 11/26/2012
1396.56, low of 9/4/2012
1391.04, low of 8/6/2012
1388.71, low of 5/3/2012
1385.43, low of 11/28/2012
1381.50, Fibonacci 78.6% of 2007-2009 range
1380.39, high of 7/19/2012
1374.81, high of 7/3/2012
1370.58, high of 5/2/2011
1363.49, high of 6/19/2012
1357.38, low of 4/10/2012
1343.35, low of 11/16/2012
1340.03, low of 3/6/2012
1335.52, high of 6/11/2012
1334.93, high of 5/31/2012
1329.24, low of 7/24/2012
1329.05, high of 6/7/2012
1328.49, high of 5/22/2012
1325.41, low of 7/12/2012
1306.62, low of 6/12/2012
1291.98, low of 5/18/2012
1266.74, low of 6/4/2012
1265.26, low of 1/5/2012
1262.30, low of 12/27/2011
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 11/3/2011
1231.04, high of 12/16/2011
1228.74, Fibonacci 61.8% of 2007-2009 range
1226.64, low of 11/9/2011
1224.57, high of 12/19/2011
1215.20, low of 12/16/2011
1202.37, low of 12/19/2011
1158.66, low of 11/25/2011
1121.44, Fibonacci 50% of 2007-2009 range
1074.77, low of 10/4/2011
1014.14, Fibonacci 38.2% of 2007-2009 range
1010.91, low of 7/1/2010
991.97, low of 9/2/2009
978.51, low of 8/17/2009
956.23, high of 6/11/2009
881.38, Fibonacci 23.6% of 2007-2009 range
869.32, low of 7/8/2009
666.79, intraday low of 3/6/2009
