New highs are handily beating new lows on all timeframes. The US market is reaching into overbought conditions (T2108 > 80, and lots of overbought stocks) so it would be bullish if the SPY can go sideways for a few days. All of the ups and downs of the past weeks have just brought us back to 49% of stocks above their 200-day moving average. So in my view, it is still a market without clear direction. All this is relevant to stocks in the major indices, but less important to low beta stocks like KRA, EW, and NRGP.
| Trend Direction by Broad Index 28-Jul-2010 (14-Jul-2010) | ||||
| Index | Slope of 20-day SMA | Slope of 50-day SMA | Slope of 200-day SMA | Slope of 200-day EMA |
| QQQQ Nasdaq | UP (flat) | DOWN (flat) | UP (up) | UP (up) |
| SPY S&P500 | UP (flat) | DOWN (flat) | UP (up) | UP (up) |
| IWM Russell 2000 | UP (flat) | DOWN (down) | UP (up) | UP (up) |
| EWC Canada | UP (flat) | DOWN (flat) | FLAT (up) | FLAT (flat) |
| EFA MSCI EAFE | UP (up) | UP (flat) | DOWN (down) | FLAT (down) |
| FXI China | UP (flat) | UP (flat) | FLAT (flat) | UP (up) |
| GLD Gold | DOWN (down) | DOWN (up) | UP (up) | UP (up) |
| UUP US Dollar | DOWN (down) | DOWN (down) | UP (up) | FLAT (flat) |
| TLT US Long Bonds | DOWN (up) | UP (up) | UP (up) | UP (up) |
| Numbers in parentheses are from 10 trading-days ago SMA = Simple Moving Average, EMA = Exponential Moving Average | ||||
| US Stocks Making New Highs and Lows 28-Jul-2010 | ||||
| Period | New Highs | New Lows | Hi vs Lo | Hi/Lo Ratio |
| 20 day1 | 480 | 122 |  | 3.9 |
| 50 day1 | 200 | 92 |  | 2.2 |
| 52 week1 | 71 | 44 |  | 1.6 |
| All-Time stocks only2 | 49 | 13 |  | 3.8 |
| 1 Out of 5108 US Stocks on FINVIZ 2 From uglychart.com based on the previous close (funds removed) | ||||
| US Stocks in Overbought and Oversold Conditions 28-Jul-2010 | ||||
| Level | Overbought | Oversold | Overbought vs Oversold | OB/OS Ratio |
| Mild RSI(14)=60 vs 40 | 1057 | 462 |  | 2.3 |
| Moderate RSI(14)=70 vs 30 | 151 | 77 |  | 2.0 |
| Extreme RSI(14)=80 vs 20 | 25 | 11 |  | 2.3 |
| Ridiculous RSI(14)=90 vs 10 | 3 | 2 |  | 1.5 |
| 1 Out of 5108 US Stocks on FINVIZ | ||||
| US Stocks in Relation to their Moving Averages 28-Jul-2010 | ||
 |  |  |
Worden's T2108 on 28-Jul-2010 = 82 
| ||
| Trend Direction by Sector 28-Jul-2010 (14-Jul-2010) | ||||
| Index | Slope of 20-day SMA | Slope of 50-day SMA | Slope of 200-day SMA | Slope of 200-day EMA |
| XLY Consumer Discretionary | UP (flat) | FLAT (down) | UP (up) | UP (up) |
| XLP Consumer Staples | UP (up) | FLAT (flat) | UP (up) | UP (up) |
| XLE Energy | UP (flat) | FLAT (down) | DOWN (down) | DOWN (down) |
| XLF Financial Services | UP (flat) | FLAT (flat) | FLAT (flat) | FLAT (flat) |
| XLV Health Care | DOWN (flat) | DOWN (flat) | DOWN (flat) | DOWN (flat) |
| XLI Industrial | UP (flat) | FLAT (down) | UP (up) | UP (flat) |
| RWR US Real Estate | UP (flat) | UP (flat) | UP (up) | UP (up) |
| RWX Intl Real Estate | UP (up) | UP (flat) | FLAT (flat) | UP (up) |
| XLK Technology | UP (flat) | FLAT (flat) | UP (up) | UP (flat) |
| IYZ Telecom | UP (flat) | UP (flat) | UP (up) | UP (up) |
| XLU Utilities | UP (up) | UP (flat) | UP (up) | UP (up) |
| Trend in parentheses is from 10 trading-days ago SMA = Simple Moving Average, EMA = Exponential Moving Average | ||||
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