Copper, iPath DJ-UBS Copper TR Sub-Index ETN (JJC) price fell below its lows of the previous 2 years on 5/1/13, thereby reconfirming its preexisting bearish major trend. 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.
Bond, iShares Barclays 20+ Year U.S. Treasury ETF (TLT) price rose above its highs of the past 5 months on 5/1/13, thereby confirming a medium-term uptrend.
Bond, iShares Barclays 7-10 Year U.S. Treasury ETF (IEF) price also rose above its highs of the past 5 months.
The Small Cap Russell 2000 Index/Large Cap Relative Strength Ratio (IWM/SPY) fell below the lows of the previous 5 months on 5/1/13. Price fell 2.42%.
U.S. stocks opened lower, remained under pressure much of the day, and closed near the lows of the day. The S&P 500 Composite Index (SPX: 1,582.70) finished down 0.93%, the Nasdaq Composite Index fell 0.89%, the Dow Jones Industrial Average declined by 0.94%, and the Dow Jones Transportation Average fell 2.23%.
NYSE total volume fell 2% to a level 9% above its 200-day SMA.
Breadth was negative, with 1122 Advances and 2882 Declines. In addition, Advancing/Declining Volume was negative, with 0.8 Advancing Stock Volume to 3.0 Declining Stock Volume.
A variety of stock market price momentum indicators continue to show bearish divergences, while investor sentiment has been at bullish extremes most of the year. My interpretation of the technical indicators suggests that the medium-term stock market uptrend evident from November through April may be overdone. The market seems overdue for a significant downside correction. With prices testing their highs, now appears to be a critical juncture.
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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) rose above its 50-day SMA on 4/30/13, thereby turning systematically neutral (from bearish). Except for only one day, QQQ/SPY was systematically bearish from 11/7/12, when the 50-day SMA fell below the 200-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) rose above its 50-day SMA on 4/23/13, thereby turning systematically bullish again. EFA price confirmed the uptrend by rising above the highs of the previous 21 months on 4/30/13.
The Largest Cap S&P 100/S&P 500 Relative Strength Ratio (OEF/SPY) turned systematically bearish again (from neutral) on 4/24/13, when it whipsawed back down below 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 5 months on 5/1/13. IWM/SPY turned systematically neutral on 4/1/13 when it fell below the 50-day SMA. 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 rose to a new high on 4/30/13.
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 5/1/13, 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 122.10, 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 5/1/13, 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 108.39, 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) rose above its 50-day SMA on 4/30/13, thereby turning systematically bullish (from neutral). JNK/LQD had been neutral for most of the past 3 years.
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 neutral (from bullish) on 4/26/13, when it whipsawed back below 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 turned systematically neutral (from bearish) on 4/29/13 when price rose above the 50-day SMA.
Crude Oil, United States Oil ETF (USO) price turned systematically bearish (from neutral) on 4/30/13 when price fell below the 50-day SMA. Longer term, USO has been mostly bearish since peaking at 119.17 on 7/11/08. Support 30.79, 29.02, 26.28, and 22.74. Resistance 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: 139.78 135.85, and 130.51. 142.55. Resistance: 143.43, 149.44, 153.85, 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: 23.70, 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 4/24/13, 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 5/1/13, thereby reconfirming its preexisting bearish major trend. 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
14.18% , AMD , ADV MICRO DEV
0.40% , TLH , Bond 10-20 Year US Treas, TLH
4.66% , HUM , HUMANA
7.08% , NCR , NCR
2.61% , VIA.O , VIACOM INC. (New)
1.71% , MYY , Short 100% MidCap 400, MYY
0.81% , TLT , Bond, 20+ Years Treasury, TLT
2.39% , GNW , GENWORTH FINANCIAL
2.98% , VIAB.O , VIACOM STK B
1.30% , MRVL , MARVELL TECHNOLOGY
1.36% , CMCSA , COMCAST HOLDINGS STK A
0.55% , TXN.O , TEXAS INSTRUMENT
0.54% , RIG , TRANSOCEAN
1.69% , SDS , Short 200% S&P 500 PS, SDS
0.33% , DVN , DEVON ENERGY
0.32% , ERIC.O , LM Ericsson Telephone Company
1.57% , AON , AON
0.33% , SNI , Scripps Networks Interactive
0.36% , SEE , SEALED AIR
0.55% , PKI , PERKINELMER
0.98% , CVS , CVS
0.65% , IGT , INTL GAME TECH
0.75% , LAMR , Lamar Advertising Company
0.15% , LQD , Bond, Corp, LQD
0.10% , KMB , KIMBERLY CLARK
0.71% , GNTX , Gentex Corporation
0.08% , PM , Philip Morris, PM
0.26% , LMT , LOCKHEED MARTIN
0.20% , IEF , Bond, 10 Year Treasury, IEF
0.03% , GVI , Bond Interm U.S. Gov, GVI
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Bearish Stocks: Falling Price and Rising Volume
Ranked by Price Change * Volume Change
% Price Change, Symbol, Name
-13.10% , AGN , ALLERGAN
-1.09% , ITF , Japan LargeCap Blend TOPIX 150, ITF
-1.91% , IJJ , Value MidCap S&P 400 B, IJJ
-1.82% , RFG , Growth MidCap S&P 400, RFG
-2.42% , IWM , SmallCap Russell 2000, IWM
-4.42% , SCHW.K , CHARLES SCHWAB, SCHW.O
-0.53% , IXP , Telecommunications Global, IXP
-1.12% , FDL , Dividend Leaders, FDL
-1.15% , IXC , Energy Global, IXC
-4.59% , FISV , FISERV
-3.67% , MVV , Ultra MidCap400 Double, MVV
-4.36% , RHI , ROBERT HALF
-3.99% , GRMN , GARMIN LTD
-2.10% , IYM , Basic Materials DJ US, IYM
-2.29% , IYT , Transportation Av DJ, IYT
-2.33% , CPWR , COMPUWARE
-3.89% , EMN , EASTMAN CHEM
-1.75% , IJK , Growth MidCap 400 B, IJK
-3.64% , LPX , LOUISIANA PAC
-1.95% , VAW , Materials VIPERs, VAW
-3.38% , TXT , TEXTRON
-1.81% , SSO , Ultra S&P500 Double, SSO
-1.14% , IDU , Utilities DJ, IDU
-2.79% , MRK , MERCK & CO
-2.13% , SNA , SNAP ON
-1.68% , TUP , TUPPERWARE
-2.32% , USO , Oil, Crude, U.S. Oil Fund, USO
-1.71% , FPX , IPOs, First Tr IPOX-100, FPX
-2.56% , SLV , Silver Trust iS, SLV
-1.85% , VBR , Value SmallCap VIPERS, VBR
-2.92% , IR , INGER RAND
-2.51% , EIX , EDISON INTL
-4.81% , RFMD , RF Micro Devices Inc
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One-Day Ranking of Major ETFs, Ranked from Strongest to Weakest of the Day:
% Price Change, ETF Name, Symbol
0.93% , Bear, Short S&P 500, SH
0.81% , Bond, 20+ Years Treasury, TLT
0.20% , Bond, 10 Year Treasury, IEF
0.15% , Bond, Long-Term Corp iBoxx iS, LQD
0.12% , Bond Ex-US Treas, BWX
0.00% , Bond, 1-3 Year Treasury, SHY
-0.02% , Bond Treasury Short-Term iS, SHV
-0.10% , Consumer Staples SPDR, XLP
-0.13% , Bond, Intermediate US Aggregate iS, AGG
-0.14% , Bond, Muni S&P ATM-Free iS, MUB
-0.16% , Financial Preferred, PGF
-0.18% , Bond, Emerging Mkt JPM iS, EMB
-0.19% , United Kingdom Index, EWU
-0.28% , Bond, TIPS U.S. Treasury iS, TIP
-0.43% , Switzerland Index, EWL
-0.44% , SmallCap Blend EAFE MSCI iS, SCZ
-0.47% , QQQ Nasdaq 100 Trust, QQQ
-0.48% , Preferred Stock iS, PFF
-0.51% , Sweden Index, EWD
-0.53% , Consumer Discretionary SPDR, XLY
-0.53% , Realty Cohen & Steers, ICF
-0.57% , Agriculture DB PS, DBA
-0.58% , Europe 350 S&P Index, IEV
-0.59% , Frontier Markets Guggenheim , FRN
-0.60% , Foreign LargeCap EAFE MSCI iS, EFA
-0.61% , Netherlands Index, EWN
-0.64% , European VIPERs, VGK
-0.65% , Bond, High-Yield Junk, JNK
-0.66% , REIT Wilshire, RWR
-0.68% , Bond, High Yield Corp iBoxx iS, HYG
-0.68% , Real Estate US DJ iS, IYR
-0.68% , Belgium Index, EWK
-0.69% , LargeCap Growth S&P 500 iS, IVW
-0.69% , LargeCap Blend S&P 100, OEF
-0.70% , EMU Europe Index, EZU
-0.70% , Malaysia Index, EWM
-0.70% , Growth EAFE MSCI, EFG
-0.71% , Turkey MSCI iS, TUR
-0.74% , Global ex U.S. LargeCap Blend, ACWX
-0.75% , Growth VIPERs, VUG
-0.75% , Global 100, IOO
-0.77% , Technology DJ US, IYW
-0.78% , Austria Index, EWO
-0.78% , Semiconductor iS IGW, SOXX
-0.80% , REIT VIPERs, VNQ
-0.80% , Dividend ex-U.S. DJ iS, IDV
-0.80% , Global LargeCap Blend MSCI iS, ACWI
-0.81% , LargeCap Growth Russell 1000 iS, IWF
-0.82% , Dividend SPDR, SDY
-0.83% , Spain Index, EWP
-0.84% , Dividend International, PID
-0.84% , LargeCap Blend S&P 500 iS, IVV
-0.85% , India Earnings WTree, EPI
-0.85% , Value EAFE MSCI, EFV
-0.86% , Taiwan Index, EWT
-0.86% , Germany Index, EWG
-0.86% , DIAMONDS (DJIA), DIA
-0.87% , Singapore Index, EWS
-0.88% , Technology SPDR, XLK
-0.88% , S&P 500 SPDRs LargeCap Blend, SPY
-0.89% , Canada Index, EWC
-0.90% , Dividend Appreciation Vipers, VIG
-0.90% , Info Tech VIPERs, VGT
-0.90% , LargeCap VIPERs, VV
-0.91% , LargeCap Blend Russell 1000 iS, IWB
-0.92% , LargeCap Value S&P 500 iS, IVE
-0.96% , Growth MidCap Russell, IWP
-0.97% , China LargeCap Growth G D H USX PS, PGJ
-0.99% , Utilities SPDR, XLU
-0.99% , South Korea Index, EWY
-1.00% , Value VIPERs, VTV
-1.02% , Chile MSCI iS, ECH
-1.02% , Blend Total Market VIPERs, VTI
-1.02% , LargeCap Blend S&P=Weight R, RSP
-1.02% , LargeCap Blend Russell 3000 iS, IWV
-1.05% , Pacific VIPERs, VPL
-1.05% , Emerging VIPERs, VWO
-1.06% , Health Care SPDR, XLV
-1.06% , France Index, EWQ
-1.06% , Utilities VIPERs, VPU
-1.07% , LargeCap Value Russell 1000 iS, IWD
-1.07% , Value LargeCap Dynamic PS, PWV
-1.07% , Thailand MSCI iS, THD
-1.08% , Hong Kong Index, EWH
-1.09% , Emerging Markets MSCI iS, EEM
-1.09% , Financial DJ US, IYF
-1.10% , Indonesia MV, IDX
-1.11% , Japan Index, EWJ
-1.12% , Financial SPDR, XLF
-1.12% , Emerging 50 BLDRS, ADRE
-1.13% , Dividend U.S. DJ iS, DVY
-1.15% , Energy Global, IXC
-1.16% , Gold Shares S.T., GLD
-1.19% , MidCap Russell, IWR
-1.22% , Water Resources, PHO
-1.23% , Financials VIPERs, VFH
-1.23% , Brazil Index, EWZ
-1.25% , South Africa Index, EZA
-1.25% , Value MidCap Russell, IWS
-1.30% , Dividend High Yield Equity PS, PEY
-1.30% , Industrial SPDR, XLI
-1.31% , Telecom DJ US, IYZ
-1.32% , Semiconductor SPDR, XSD
-1.32% , India PS, PIN
-1.37% , Italy Index, EWI
-1.43% , Financial Services DJ, IYG
-1.45% , Latin Am 40, ILF
-1.47% , China 25 iS, FXI
-1.49% , Pacific ex-Japan, EPP
-1.52% , Homebuilders SPDR, XHB
-1.52% , Energy DJ, IYE
-1.56% , Energy SPDR, XLE
-1.56% , Mexico Index, EWW
-1.56% , Energy VIPERs, VDE
-1.67% , Energy & Nat Res iS GS, IGE
-1.71% , Australia Index, EWA
-1.75% , MidCap Growth S&P 400 iS, IJK
-1.76% , Russia MV, RSX
-1.77% , MidCap S&P 400 SPDRs, MDY
-1.77% , Materials SPDR, XLB
-1.78% , MidCap Blend S&P 400 iS, IJH
-1.79% , Commodity Tracking, DBC
-1.84% , Growth SmallCap VIPERs, VBK
-1.85% , Value SmallCap VIPERS, VBR
-1.88% , Metals & Mining SPDR, XME
-1.89% , Small Cap VIPERs, VB
-1.91% , MidCap Value S&P 400 iS, IJJ
-2.00% , SmallCap Growth S&P 600 iS, IJT
-2.10% , Basic Materials DJ US, IYM
-2.24% , SmallCap Blend S&P 600 iS, IJR
-2.28% , SmallCap Growth Russell 2000 iS, IWO
-2.29% , Transportation Av DJ, IYT
-2.30% , WilderHill Clean Energy PS, PBW
-2.30% , Capital Markets KWB ST, KCE
-2.32% , Oil, Crude, U.S. Oil Fund, USO
-2.36% , Oil Fund PowerShares, DBO
-2.39% , SmallCap Value S&P 600 iS, IJS
-2.42% , SmallCap Blend Russell 2000 iS, IWM
-2.47% , SmallCap Value Russell 2000 iS, IWN
-2.49% , Networking, IGN
-2.53% , Biotech SPDR, XBI
-2.56% , Silver Trust iS, SLV
-2.83% , Microcap Russell, IWC
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The S&P 500 Composite Potential Resistance
1597.57, intraday high of 4/30/2013
The S&P 500 Composite Potential Support
1554.00, 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
1461.65, 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
