Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Point & Go Figure: SPX, GILD, CRB Index


It's never over until it's over.


Market Overview:
The short-term conditions have been twisty and twitchy of late, but the larger negative patterns and high risk levels remain intact suggesting caution. The NYSE Percent Above 50-day Moving Average Indicator reversed back to negative with Tuesday's activity, forming another lower high on the chart and raising the probabilities of a move lower of significant degree for related stocks. The Nasdaq Composite Percent Above 50-day Moving Average Indicator remains in Xs, but declined by more than 4% on Tuesday and is now less than .6% from a reversal to negative.

The High-Low Indices for the NYSE and NASDAQ both remain in Xs, but are at high-risk levels and the larger bearish pattern of fewer and fewer highs remains intact.

The NYSE and Nasdaq Composite bullish percent Indices are in Xs, while the S&P 500, Nasdaq-100, and Dow Jones Industrial Average bullish percent indices are in Os and negative.

Charts of Interest:
S&P 500 Bullish Percent ($BPSPX)
(Chart courtesy
The SPX Bullish Percent is negative, with deteriorating participation dating back to January 2004.

S&P 500 ($SPX)
(Chart courtesy

Gilead Sciences, Inc. (GILD)
(Chart courtesy

Gilead Sciences, Inc. (GILD)
(Chart courtesy Thomson Financial)
TD-Sequential 13 on GILD daily chart, and note the pending long-term price objective on the PnF chart of 66, fits parameters of TD-Sequential "risk level."

CRB Index ($CRB)
(Chart courtesy

CRB Index (CR/Y)
(Chart courtesy Thomson Financial)
Weekly CRB Index, showing TD-Sequential 9-13-9.

No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.

Featured Videos