USA Weekly Summary

S&P 500 Daily Chart

S&P 500: Seems like it is now testing the resistance turned support that it has broken 2 weeks ago. Trend is still up.

DJI Daily Chart

DJI: Different case for DJI. Still no success in breaking the upper resistance line. Now, just a few points above the uptrend support line. Trend is still up.

Nasdaq Composite Daily Chart

Nasdaq Composite: The movement for this index has the same pattern as the S&P 500. Support is at around 2260.

The summary for the rest:

USA	Monthly	Weekly	Daily
S&P500	Up	Up	Up
DJI	Up	Up	Up
NasdaqComp	Up	Up	Neutral (-)
DJ Transport	Up	Up	Up
DJ Utility	Up	Up	Neutral
Russell 2000	Up	Up	Up
AMEX Airline	Up	Up	Up
AMEX Biotech	Up	Up	Up
AMEX Gold Bugs	Up	Neutral (-)	Neutral
AMEX Natural Gas	Up	Up	Neutral (-)
AMEX Oil	Up	Up	Neutral (-)
AMEX Security Broker	Up	Up	Neutral (-)
AMEX Telco	Up	Up	Neutral
KBW Bank	Up	Up	Up
KBW Insurance	Up	Up	Up
PHLX Housing	Up	Up	Up
PHLX Semiconductor	Up	Up	Neutral (-)
S&P Retail	Up	Up	Neutral (-)

You can see that there were a lot of correction last week. Commodity play is still under correction.

Weekly Summary

NASDAQ Composite Weekly Chart

Nasdaq Comp: Broke out of rising wedge. Next resistance at 2350. Daily and weekly chart is slightly overbought. Monthly chart shows that there is still a lot of room to go.

DJI Weekly Chart

DJI: Making a rising flag. Daily still not yet overbought. Therefore, it is still possible for it to break higher. If it does, next resistance at 11000.

S&P 500 Weekly Chart

S&P 500: Daily still not yet overbought. Next resistance is at around 1200-1220.

The summary for the rest:

USA	Monthly	Weekly	Daily
S&P500	Up	Up	Up
DJI	Up	Up	Up (+)
NasdaqComp	Up	Up	Up
DJ Transport	Up	Up	Up (+)
DJ Utility	Up	Up	Neutral
Russell 2000	Up	Up	Up
AMEX Airline	Up	Up	Up
AMEX Biotech	Up	Up	Up
AMEX Gold Bugs	Up	Up (+)	Neutral
AMEX Natural Gas	Up	Up	Up (+)
AMEX Oil	Up	Up	Up
AMEX Security Broker	Up	Up	Up
AMEX Telco	Up	Up	Neutral
KBW Bank	Up	Up (+)	Up (+)
KBW Insurance	Up	Up	Up
PHLX Housing	Up	Up	Up
PHLX Semiconductor	Up	Up	Up
S&P Retail	Up	Up	Up (+)