U.S. Stock Market Shows Resilience, Foreign Stocks Remain Weak

The S&P 500 Composite Index (SPX) plunged below its intraday lows of the past 3 weeks on Tuesday, but recovered nearly all its loss by the close. Clearly, the overwhelmingly bullish majority is still buying the dips. Longer term, SPX closed above all previous closing prices on Friday 12/5/14, reconfirming its preexisting major uptrend. Seasonal tendencies are bullish for the last half of December, so perhaps we should not be too quick to join the small bearish minority, now only 13.9% of advisors, according to Investors Intelligence.

NYSE total volume rose 6% to a level 21% above its 200-day SMA. Generally, rising volume confirms the direction (up or down) of a price move, but falling volume may indicate diminishing power behind a price trend, which can suggest a price reversal ahead. Volume can provide insights that are not available from the majority of indicators, which are based on price.

iShares MSCI BRIC Fund (BKF) Relative Strength Ratio (BKF/SPY) broke down below its lows of the previous 7 years on 12/9/14, reconfirming its preexisting major downtrend. Longer term, BKF/SPY has been systematically bearish most of the time over the past 4 years.

Emerging Markets Stocks ETF (EEM) Relative Strength Ratio (EEM/SPY) broke down below its lows of the previous 9 years on 12/9/14, reconfirming its preexisting major downtrend. Longer term, EEM/SPY has been systematically bearish most of the time since making a high on 10/14/10.

Foreign Stocks ETF (EFA) Relative Strength Ratio (EFA/SPY) broke down below its lows of the previous 10 years on 12/9/14, reconfirming its preexisting major downtrend. EFA/SPY has remained systematically bearish most of the time over the past 6 years.
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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
1.37% , IGE , Energy & Nat Res iS GS, IGE
1.32% , PSI , Semiconductors, PSI
4.07% , PMCS , PMC SIERRA
3.88% , SLV , Silver Trust iS, SLV
1.72% , IJR , SmallCap S&P 600, IJR
2.64% , IWC , Microcap Russell, IWC
2.24% , GLW , CORNING
4.26% , AZO , AUTOZONE
0.73% , IJJ , Value MidCap S&P 400 B, IJJ
5.89% , HAR , Harman International
2.08% , GLD , Gold Shares S.T., GLD
0.47% , TLH , Bond 10-20 Year US Treas, TLH
1.85% , IWO , Growth SmallCap R 2000, IWO
0.60% , IGM , Technology GS, IGM
3.25% , NE , NOBLE
3.47% , AVP , AVON
1.56% , IWN , Value SmallCap Russell 2000, IWN
1.68% , IWM , SmallCap Russell 2000, IWM
3.38% , HP , Helmerich & Payne HP
1.05% , FLEX , Flextronics International Ltd
3.48% , WOR , WORTHINGTON INDS
0.83% , CVG , CONVERGYS
0.40% , HSP , HOSPIRA
2.46% , AN , AUTONATION
1.05% , SPLS , STAPLES
1.71% , RZV , Value SmallCap S&P 600, RZV
0.48% , RWR , REIT Wilshire, RWR
2.63% , XME , Metals & Mining SPDR, XME
1.00% , EWS , Singapore Index, EWS
0.28% , MCHP , Microchip Technology Incorporated
1.38% , MAS , MASCO
1.32% , TER , TERADYNE
1.30% , PCAR , PACCAR
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Bearish Stocks: Falling Price and Rising Volume
Ranked by Price Change * Volume Change
% Price Change, Symbol, Name
-4.05% , VZ , VERIZON COMMS
-2.92% , T , AT&T Corp., T
-1.37% , ECH , Chile MSCI iS, ECH
-5.02% , HRB , H&R BLOCK
-2.55% , KO , COCA COLA
-3.33% , FXI , China 25 iS, FXI
-3.02% , MRK , MERCK & CO
-1.47% , JCI , JOHNSON CONTROLS
-1.27% , EWU , United Kingdom Index, EWU
-3.79% , S , SPRINT NEXTEL
-1.00% , EWQ , France Index, EWQ
-1.36% , IYZ , Telecom DJ US, IYZ
-2.11% , CBS , CBS CORP.
-0.64% , EWN , Netherlands Index, EWN
-1.65% , PGR , PROGRESSIVE OHIO
-1.12% , DHI , D.R. HORTON, DHI
-1.28% , EXPD , Expeditors International WA
-0.66% , EWH , Hong Kong Index, EWH
-3.15% , MRVL , MARVELL TECHNOLOGY
-0.87% , FEZ , Euro STOXX 50, FEZ
-0.30% , EMB , Bond EmrgMkt JPM iS, EMB
-0.36% , PSQ , Short 100% QQQ, PSQ
-0.93% , VGK , European VIPERs, VGK
-0.86% , EZU , EMU Europe Index, EZU
-0.58% , PLL , PALL
-1.17% , MCK , MCKESSON CORP
-0.69% , IYT , Transportation Av DJ, IYT
-0.44% , ADRE , Emerging 50 BLDRS, ADRE
-1.60% , RHT , Red Hat Inc.
-0.28% , JNK , Bond, High-Yield Junk, JNK
-0.66% , THD , Thailand MSCI iS, THD
-0.98% , ZMH , ZIMMER HLDGS
-1.62% , YUM , YUM BRANDS
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One-Day Ranking of Major ETFs, Ranked from Strongest to Weakest of the Day:
% Price Change, ETF Name, Symbol
3.88% , Silver Trust iS, SLV
2.89% , Biotech SPDR, XBI
2.64% , Microcap Russell, IWC
2.63% , Metals & Mining SPDR, XME
2.08% , Gold Shares S.T., GLD
1.85% , SmallCap Growth Russell 2000 iS, IWO
1.85% , SmallCap Growth S&P 600 iS, IJT
1.72% , SmallCap Blend S&P 600 iS, IJR
1.71% , WilderHill Clean Energy PS, PBW
1.68% , SmallCap Blend Russell 2000 iS, IWM
1.60% , SmallCap Value S&P 600 iS, IJS
1.56% , SmallCap Value Russell 2000 iS, IWN
1.37% , Energy & Nat Res iS GS, IGE
1.27% , Networking, IGN
1.21% , Oil, Crude, U.S. Oil Fund, USO
1.13% , Oil Fund PowerShares, DBO
1.12% , Energy VIPERs, VDE
1.09% , Energy SPDR, XLE
1.07% , Semiconductor SPDR, XSD
1.06% , Growth SmallCap VIPERs, VBK
1.02% , Water Resources, PHO
1.00% , Singapore Index, EWS
0.94% , Energy DJ, IYE
0.91% , Small Cap VIPERs, VB
0.82% , Value SmallCap VIPERS, VBR
0.73% , MidCap Value S&P 400 iS, IJJ
0.71% , Commodity Tracking, DBC
0.68% , Utilities VIPERs, VPU
0.67% , South Korea Index, EWY
0.65% , Bond Ex-US Treas, BWX
0.58% , Technology DJ US, IYW
0.57% , Info Tech VIPERs, VGT
0.56% , Canada Index, EWC
0.56% , MidCap S&P 400 SPDRs, MDY
0.54% , MidCap Growth S&P 400 iS, IJK
0.53% , MidCap Blend S&P 400 iS, IJH
0.53% , China LargeCap Growth G D H USX PS, PGJ
0.53% , Realty Cohen & Steers, ICF
0.52% , Japan Index, EWJ
0.51% , Agriculture DB PS, DBA
0.51% , Bond, 20+ Years Treasury, TLT
0.50% , Utilities SPDR, XLU
0.48% , REIT Wilshire, RWR
0.46% , REIT VIPERs, VNQ
0.43% , Energy Global, IXC
0.43% , Bond, TIPS U.S. Treasury iS, TIP
0.38% , Basic Materials DJ US, IYM
0.37% , Bond, 10 Year Treasury, IEF
0.34% , Real Estate US DJ iS, IYR
0.33% , Value MidCap Russell, IWS
0.32% , QQQ Nasdaq 100 Trust, QQQ
0.30% , Dividend High Yield Equity PS, PEY
0.27% , Homebuilders SPDR, XHB
0.27% , Materials SPDR, XLB
0.25% , Dividend U.S. DJ iS, DVY
0.24% , MidCap Russell, IWR
0.24% , Growth MidCap Russell, IWP
0.22% , Bond, Muni S&P ATM-Free iS, MUB
0.20% , Indonesia MV, IDX
0.18% , Growth VIPERs, VUG
0.16% , Brazil Index, EWZ
0.15% , Bond, Intermediate US Aggregate iS, AGG
0.15% , Malaysia Index, EWM
0.14% , Capital Markets KWB ST, KCE
0.10% , LargeCap Blend S&P=Weight R, RSP
0.09% , Bear, Short S&P 500, SH
0.08% , Bond, Long-Term Corp iBoxx iS, LQD
0.08% , LargeCap Blend Russell 3000 iS, IWV
0.06% , LargeCap Growth S&P 500 iS, IVW
0.06% , Financials VIPERs, VFH
0.06% , Blend Total Market VIPERs, VTI
0.04% , Bond, 1-3 Year Treasury, SHY
0.02% , Industrial SPDR, XLI
0.02% , Pacific VIPERs, VPL
0.00% , Bond Treasury Short-Term iS, SHV
0.00% , Financial Preferred, PGF
0.00% , LargeCap Growth Russell 1000 iS, IWF
0.00% , Preferred Stock iS, PFF
0.00% , Sweden Index, EWD
-0.01% , Semiconductor iS IGW, SOXX
-0.02% , Technology SPDR, XLK
-0.04% , Dividend SPDR, SDY
-0.05% , LargeCap Value Russell 1000 iS, IWD
-0.05% , LargeCap Blend Russell 1000 iS, IWB
-0.06% , Bond, High Yield Corp iBoxx iS, HYG
-0.06% , Russia MV, RSX
-0.06% , Austria Index, EWO
-0.07% , LargeCap Blend S&P 500 iS, IVV
-0.07% , S&P 500 SPDRs LargeCap Blend, SPY
-0.08% , Financial Services DJ, IYG
-0.08% , LargeCap VIPERs, VV
-0.09% , Dividend Appreciation Vipers, VIG
-0.13% , SmallCap Blend EAFE MSCI iS, SCZ
-0.13% , Financial DJ US, IYF
-0.17% , Dividend International, PID
-0.18% , Consumer Discretionary SPDR, XLY
-0.22% , LargeCap Blend S&P 100, OEF
-0.22% , LargeCap Value S&P 500 iS, IVE
-0.24% , Financial SPDR, XLF
-0.26% , Value VIPERs, VTV
-0.28% , Bond, High-Yield Junk, JNK
-0.30% , Bond, Emerging Mkt JPM iS, EMB
-0.32% , Global LargeCap Blend MSCI iS, ACWI
-0.32% , DIAMONDS (DJIA), DIA
-0.33% , South Africa Index, EZA
-0.33% , Consumer Staples SPDR, XLP
-0.33% , Latin Am 40, ILF
-0.37% , Switzerland Index, EWL
-0.38% , Value LargeCap Dynamic PS, PWV
-0.42% , Health Care SPDR, XLV
-0.42% , Growth EAFE MSCI, EFG
-0.44% , Emerging 50 BLDRS, ADRE
-0.44% , Global 100, IOO
-0.52% , Global ex U.S. LargeCap Blend, ACWX
-0.54% , Foreign LargeCap EAFE MSCI iS, EFA
-0.54% , Turkey MSCI iS, TUR
-0.58% , Value EAFE MSCI, EFV
-0.60% , Germany Index, EWG
-0.64% , Netherlands Index, EWN
-0.66% , Belgium Index, EWK
-0.66% , Thailand MSCI iS, THD
-0.66% , Hong Kong Index, EWH
-0.68% , Pacific ex-Japan, EPP
-0.69% , Transportation Av DJ, IYT
-0.71% , Taiwan Index, EWT
-0.85% , Dividend ex-U.S. DJ iS, IDV
-0.86% , EMU Europe Index, EZU
-0.88% , Europe 350 S&P Index, IEV
-0.93% , European VIPERs, VGK
-0.94% , Emerging Markets MSCI iS, EEM
-1.00% , France Index, EWQ
-1.05% , Frontier Markets Guggenheim , FRN
-1.12% , Australia Index, EWA
-1.13% , Emerging VIPERs, VWO
-1.23% , Mexico Index, EWW
-1.27% , United Kingdom Index, EWU
-1.36% , Telecom DJ US, IYZ
-1.37% , Chile MSCI iS, ECH
-1.43% , Italy Index, EWI
-1.52% , Spain Index, EWP
-1.96% , India PS, PIN
-1.96% , India Earnings WTree, EPI
-3.33% , China 25 iS, FXI
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

The S&P 500 Composite Potential Resistance
2079.47, high of 12/5/2013

The S&P 500 Composite Potential Support
2034.17, low of 12/9/2014
2030.44, low of 11/13/2014
2001.01, low of 11/4/2014
1996.76, 50-day SMA
1943.70, 200-day SMA
1904.78, low of 8/7/2014
1859.79, low of 5/7/2014
1850.61, low of 4/28/2014
1820.66, low of 10/15/2014
1813.55, high of 11/29/2013
1737.92, low of 2/5/2014
1729.86, high of 9/19/2013
1711.57, high of 10/15/2013
1709.67, high of 8/2/2013
1703.85, high of 9/26/2013
1700.18, high of 8/8/2013
1698.78, high of 7/23/2013
1696.81, high of 8/13/2013
1696.55, high of 10/1/2013
1695.93, low of 10/15/2013
1687.18, high of 5/22/2013
1687.11, low of 9/27/2013
1676.03, low of 7/26/2013
1674.99, low of 9/30/2013
1672.40, high of 9/9/2013
1671.84, low of 7/16/2013
1670.36, low of 10/3/2013
1669.51, high of 8/26/2013
1654.19, high of 6/18/2013
1654.18, high of 7/9/2013
1652.61, low of 8/16/2013
1646.47, low of 10/9/2013
1629.05, low of 8/27/2013
1560.33, low of 6/24/2013
1536.03, low of 4/18/2013
1530.94, high of 2/19/2013
1485.01, low of 2/26/2013
1474.51, high of 9/14/2012
1451.64, low on 1/8/2013
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
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
1234.81, low of 11/3/2011
1231.04, high of 12/16/2011
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
1074.77, low of 10/4/2011
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
869.32, low of 7/8/2009
666.79, intraday low of 3/6/2009