Market Update

More than half of the US stocks are above their 200-day moving average for the first time in a long time. My trend tables below show uptrends as far as the eye can see... except for the US dollar! Cash has been losing purchasing power by the day. There isn't major support from a technical standpoint until around 22.00. Here's a weekly chart:

Trend Direction by Broad Index 27-Sep-2010 (13-Sep-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 (up)	UP (up)	UP (up)	UP (up)
SPY S&P500	UP (up)	UP (up)	UP (up)	UP (up)
IWM Russell 2000	UP (up)	UP (up)	UP (up)	UP (up)
EWC Canada	UP (up)	UP (up)	UP (flat)	UP (up)
EFA MSCI EAFE	UP (up)	UP (up)	FLAT (flat)	UP (up)
FXI China	UP (up)	UP (up)	FLAT (flat)	UP (up)
GLD Gold	UP (up)	UP (up)	UP (up)	UP (up)
UUP US Dollar	DOWN (up)	DOWN (down)	FLAT (up)	DOWN (flat)
TLT US Long Bonds	UP (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 27-Sep-2010
Period	New Highs	New Lows	Hi vs Lo	Hi/Lo Ratio
20 day1	1039	106		9.8
50 day1	598	56		10.7
52 week1	247	22		11.2
All-Time stocks only2	60	13		4.6
1 Out of 5071 US Stocks on FINVIZ  2 From uglychart.com based on the previous close (funds removed)

Getting overbought...

US Stocks in Overbought and Oversold Conditions 27-Sep-2010
Level	Overbought	Oversold	Overbought vs Oversold	OB/OS Ratio
Mild RSI(14)=60 vs 40	1648	309		5.3
Moderate RSI(14)=70 vs 30	400	44		9.1
Extreme RSI(14)=80 vs 20	60	5		12.0
Ridiculous RSI(14)=90 vs 10	7	0		Inf
1 Out of 5071 US Stocks on FINVIZ

% above 20 and T2108 are high so some price consolidation would be a good thing. % above 50 and 200 are both bullish as more than half of the stocks have uptrending charts.

US Stocks in Relation to their Moving Averages 27-Sep-2010
Worden's T2108 on 27-Sep-2010 = 81.01

Financials are still flat on the 200-day timeframe...

Trend Direction by Sector 27-Sep-2010 (13-Sep-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 (up)	UP (up)	UP (up)	UP (up)
XLP Consumer Staples	UP (up)	UP (up)	UP (flat)	UP (up)
XLE Energy	UP (up)	UP (up)	UP (flat)	UP (up)
XLF Financial Services	UP (up)	UP (up)	FLAT (flat)	FLAT (flat)
XLV Health Care	UP (up)	UP (up)	FLAT (flat)	UP (flat)
XLI Industrial	UP (up)	UP (up)	UP (up)	UP (up)
RWR US Real Estate	UP (up)	UP (up)	UP (up)	UP (up)
RWX Intl Real Estate	UP (up)	UP (up)	UP (up)	UP (up)
XLK Technology	UP (up)	UP (up)	FLAT (flat)	UP (up)
IYZ Telecom	UP (flat)	UP (up)	UP (up)	UP (up)
XLU Utilities	UP (up)	UP (up)	UP (up)	UP (up)
Trend in parentheses is from 10 trading-days ago  SMA = Simple Moving Average, EMA = Exponential Moving Average