S&P 500 Weekly ChartS&P 500 is just at the downtrend line drawn from May 2008. A break means the next target of 1000. Lots of upgrade for the various sectors, most of the gain was achieved on Monday rally. I must admit that it is hard to trade the market as there are a lot last minute push up or down. Some traders blame it on the Plunge Protection Team (PPT) for manipulating the market. For me, it doesn't matter who are manipulating because manipulation is always part of the stock market. Investors, traders and manipulators are all part of the stock market ecology. We just need to know how to out smart the other.
The summary for the various sectors:
| USA | Longterm | Midterm | Shorterm |
| S&P500 | Down | Up | Up |
| DJI | Down | Up | Up |
| NasdaqComp | Neutral (+) | Up | Up |
| DJ Transport | Down | Up (+) | Up |
| DJ Utility | Down | Neutral | Up |
| Russell 2000 | Neutral (+) | Up | Up |
| AMEX Airline | Down | Neutral (+) | Up (+) |
| AMEX Biotech | Neutral (+) | Up (+) | Up |
| AMEX Gold Bugs | Up | Up | Neutral (-) |
| AMEX Natural Gas | Neutral (+) | Up | Up |
| AMEX Oil | Down | Up | Up |
| AMEX Security Broker | Neutral (+) | Up | Up |
| AMEX Telco | Up | Up | Up |
| KBW Bank | Down | Up | Up |
| KBW Insurance | Neutral (+) | Up | Up |
| PHLX Housing | Down | Neutral | Neutral |
| PHLX Semiconductor | Up | Up | Up |
| S&P Retail | Up | Up | Up (+) |
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