The S&P 500 Composite (SPX, 1,216.01) rose 6.90 points or 0.57% on Friday, September 16, 2011. Stocks appear overbought, and short-term price momentum started to slow on Friday.

Even after rising for 5 consecutive trading sessions, SPX remains stuck below falling 50-day and 200-day SMAs and stuck in its 5-week trading range between 1101.54 and 1230.71. Look for resistance at the top end of that range around 1230.71.

NYSE volume rose 14%, reflecting position adjustments for expiration of options and futures.

Minor upside reversals against the dominant bear trend lure short-term traders into trying to trade a bounce. Minor price corrections against the trend are normal and expected, of course, but playing minor counter trend bounces is risky. The mood can switch from “risk on” to “risk off” overnight, leaving the too-clever trader suddenly holding the bag, as we have seen repeatedly in recent weeks. And in a bear market, the big surprises come to the downside.

Typically, there is no safe place to hide in a Dow Theory Primary Tide Bear Market. Even those stocks that have held up relatively well through most of the Bear Market eventually succumb to the relentless tide of selling.
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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
7.41% , GR , GOODRICH CORP
7.81% , COL , ROCKWELL COLLINS
4.26% , HHH , Internet H, HHH
3.11% , TYC , TYCO INTL
4.30% , LUV , SOUTHWEST AIRLS
5.23% , LIZ , LIZ CLAIRBORNE
4.73% , HANS , Hansen Natural, HANS
2.69% , FDO , FAMILY DLR STRS
5.52% , AMZN , Amazoncom Inc
6.76% , TXT , TEXTRON
1.82% , INTU , INTUIT
2.47% , PG , PROCTER & GAMBLE
1.68% , AZO , AUTOZONE
0.83% , IGM , Technology GS, IGM
5.15% , EBAY , EBAY
2.87% , JCP , JC PENNEY
1.00% , IAH , Internet Architecture H, IAH
3.41% , PLD , PROLOGIS TRUST
2.17% , MSI , Motorola Solutions, MSI
2.32% , IR , INGER RAND
1.86% , TGT , TARGET
0.83% , VCR , Consumer D. VIPERs, VCR
2.35% , IFF , INTL FLAV & FRAG
4.20% , CAH , CARDINAL HEALTH
1.48% , GILD , Gilead Sciences Inc
1.95% , LOW , LOWES
0.57% , IYK , Consumer Non-Cyclical, IYK
1.90% , BMY , BRISTOL MYERS
1.43% , RTH , Retail H, RTH
2.14% , ROST , Ross Stores Inc
1.71% , IBM , IBM
2.03% , SRE , SEMPRA ENERGY
2.46% , PCG , PG&E

Bearish Stocks: Falling Price and Rising Volume
Ranked by Price Change * Volume Change
% Price Change, Symbol, Name
-18.99% , RIMM , RESEARCH IN MOTION LTD
-1.49% , ADRU , Europe 100 BLDRS, ADRU
-1.84% , IGN , Networking, IGN
-2.83% , KWT , Solar Energy MV, KWT
-2.53% , TNB , THOMAS & BETTS
-2.79% , GPC , GENUINE PARTS
-0.95% , DBO , Oil Fund PowerShares, DBO
-2.30% , ADBE , ADOBE SYS
-1.59% , DYN , DYNEGY
-1.55% , FEZ , Euro STOXX 50, FEZ
-0.95% , CR , CRANE
-2.42% , ODP , OFFICE DEPOT
-1.88% , SHLD , SEARS HOLDINGS
-1.16% , CBE , COOPER INDS STK A
-1.48% , AN , AUTONATION
-1.47% , EXPD , Expeditors International WA
-3.59% , ETN , EATON
-2.05% , URBN , Urban Outfitters Inc.
-3.20% , OMX , OFFICEMAX INC., OMX
-1.89% , NYT , NY TIMES STK A
-3.44% , SWY , SAFEWAY
-0.81% , GPS , GAP
-1.84% , PFE , PFIZER
-2.46% , EK , EASTMAN KODAK
-0.73% , IIH , Internet Infrastructure H, IIH
-1.31% , PWER , POWER ONE
-1.88% , EP , EL PASO
-0.48% , EZU , EMU Europe Index, EZU
-1.74% , WHR , WHIRLPOOL
-0.38% , XBI , Biotech SPDR, XBI
-1.11% , DBA , Agriculture DB PS, DBA
-1.29% , OXY , OCCIDENTAL
-1.37% , RSX , Russia MV, RSX
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One-Day Ranking of Major ETFs, Ranked from Strongest to Weakest of the Day:
% Price Change, ETF Name, Symbol
2.33% Indonesia MV, IDX
1.61% South Korea Index, EWY
1.55% Silver Trust iS, SLV
1.37% Taiwan Index, EWT
1.24% Silver Miners Global X, SIL
1.10% Turkey MSCI iS, TUR
1.04% Japan Index, EWJ
0.97% REIT VIPERs, VNQ
0.93% Gold Shares S.T., GLD
0.91% Utilities VIPERs, VPU
0.85% Technology DJ US, IYW
0.82% Real Estate US DJ, IYR
0.80% Australia Index, EWA
0.77% Consumer Discretionary SPDR, XLY
0.77% Netherlands Index, EWN
0.75% Info Tech VIPERs, VGT
0.73% QQQ Nasdaq 100 Trust, QQQ
0.73% Bond, 20+ Years Treasury, TLT
0.73% Technology SPDR, XLK
0.72% China 25 iS, FXI
0.67% Pacific ex-Japan, EPP
0.67% Realty Cohen & Steers, ICF
0.65% Growth S&P 500/BARRA, IVW
0.60% Pacific VIPERs, VPL
0.59% S&P 500 iS LargeCap Blend, IVV
0.58% Growth VIPERs, VUG
0.57% LargeCap Blend S&P 100, OEF
0.54% LargeCap VIPERs, VV
0.53% Value 1000 Russell, IWD
0.53% DIAMONDS (DJIA), DIA
0.52% Value VIPERs, VTV
0.51% Growth 1000 Russell, IWF
0.49% India Earnings WTree, EPI
0.49% LargeCap Blend Russell 3000, IWV
0.48% Blend Total Market VIPERs, VTI
0.48% Dividend High Yield Equity PS, PEY
0.45% LargeCap 1000 R, IWB
0.44% Dividend Appreciation Vipers, VIG
0.43% Austria Index, EWO
0.38% Dividend DJ Select, DVY
0.36% Value S&P 500 B, IVE
0.33% Singapore Index, EWS
0.30% India PS, PIN
0.28% Microcap Russell, IWC
0.27% Telecom DJ US, IYZ
0.27% Growth SmallCap VIPERs, VBK
0.26% Global ex US ACWI iS, ACWX
0.24% Emerging VIPERs, VWO
0.23% Financials VIPERs, VFH
0.23% Financial DJ US, IYF
0.21% Value MidCap Russell, IWS
0.20% Growth MidCap Russell, IWP
0.20% Value SmallCap VIPERS, VBR
0.19% Bond, 10 Year Treasury, IEF
0.19% Value SmallCap Russell 2000, IWN
0.19% Basic Materials DJ US, IYM
0.19% Malaysia Index, EWM
0.18% Small Cap VIPERs, VB
0.17% Emerging Markets, EEM
0.17% Belgium Index, EWK
0.16% MidCap Russell, IWR
0.15% SmallCap Russell 2000, IWM
0.15% Bond, Aggregate, AGG
0.14% Semiconductor iS IGW, SOXX
0.12% Growth SmallCap R 2000, IWO
0.12% Utilities SPDR, XLU
0.09% Growth MidCap 400 B, IJK
0.08% Transportation Av DJ, IYT
0.07% S&P 500 SPDRs LargeCap Blend, SPY
0.06% United Kingdom Index, EWU
0.06% Growth EAFE MSCI, EFG
0.05% Brazil Index, EWZ
0.04% LargeCap Blend S&P=Weight R, RSP
0.04% EAFE Index, EFA
0.03% Bond, TIPS, TIP
0.03% REIT Wilshire, RWR
0.02% Bond, 1-3 Year Treasury, SHY
0.02% Bond EmrgMkt JPM iS, EMB
0.01% Growth BARRA Small Cap 600, IJT
0.00% Small Cap EAFE MSCI iS, SCZ
0.00% Health Care SPDR, XLV
0.00% Energy DJ, IYE
0.00% Bond, Corp, LQD
-0.02% Industrial SPDR, XLI
-0.02% Global 100, IOO
-0.02% Bond Treasury Short-Term iS, SHV
-0.02% MidCap S&P 400 iS, IJH
-0.03% Value SmallCap S&P 600 B, IJS
-0.05% Germany Index, EWG
-0.06% Bond, High-Yield Corporate, HYG
-0.06% Consumer Staples SPDR, XLP
-0.08% SmallCap S&P 600, IJR
-0.12% Financial SPDR, XLF
-0.16% Bond, High-Yield Junk, JNK
-0.16% Bond Muni ATM-Free S&P iS, MUB
-0.16% Energy Global, IXC
-0.17% Value LargeCap Dynamic PS, PWV
-0.17% Energy & Nat Res iS GS, IGE
-0.17% Thailand MSCI iS, THD
-0.18% Bond Ex-US Treas, BWX
-0.20% Materials SPDR, XLB
-0.21% Homebuilders SPDR, XHB
-0.22% Financial Services DJ, IYG
-0.24% Financial Preferred, PGF
-0.24% Hong Kong Index, EWH
-0.24% Energy VIPERs, VDE
-0.25% Value MidCap S&P 400 B, IJJ
-0.29% South Africa Index, EZA
-0.29% MidCap S&P 400 SPDRs, MDY
-0.29% Dividend SPDR, SDY
-0.29% Europe 350 S&P Index, IEV
-0.30% Preferred Stock iS, PFF
-0.36% Spain Index, EWP
-0.38% Biotech SPDR, XBI
-0.39% Value EAFE MSCI, EFV
-0.43% Frontier Markets Guggenheim , FRN
-0.45% Commodity Tracking, DBC
-0.45% Mexico Index, EWW
-0.48% EMU Europe Index, EZU
-0.51% Capital Markets KWB ST, KCE
-0.53% European VIPERs, VGK
-0.55% Metals & Mining SPDR, XME
-0.58% Latin Am 40, ILF
-0.61% Energy SPDR, XLE
-0.64% Sweden Index, EWD
-0.65% Semiconductor SPDR, XSD
-0.66% Switzerland Index, EWL
-0.66% Water Resources, PHO
-0.68% Dividend International, PID
-0.73% Canada Index, EWC
-0.95% China LargeCap Growth G D H USX PS, PGJ
-0.95% Oil Fund PowerShares, DBO
-1.01% Emerging 50 BLDRS, ADRE
-1.06% Chile MSCI iS, ECH
-1.11% Agriculture DB PS, DBA
-1.33% Oil, Crude, U.S. Oil Fund, USO
-1.37% Russia MV, RSX
-1.51% France Index, EWQ
-1.66% Italy Index, EWI
-1.84% Networking, IGN
-2.50% WilderHill Clean Energy PS, PBW