7/9/2010
The LWX in Last Four Weeks (Past)
The LWX in Next Four Weeks (Forecast)
The Broad Market Volatility is below the Panic Threshold
The BIX (Broad Market Volatility) closed at 14 on Friday and it is below the panic threshold level of 47. The volatility level of 14 indicates that the current market is bullish.
Market in a falling wedge
The Dow Jones Wilshire 5000 (DWC) is forming a 3-month falling wedge pattern (between two yellow lines) inside a 16-month uptrend channel (between two red lines). The falling wedge is typically a bullish pattern. But the bullish bias can not be realized until a resistance breakout from the upper boundary of the wedge. Currently the market is in the choppy zone inside the falling wedge. The colors on the price bars represent the status of the LWX (Leading Wave Index).
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Trend indicator: up
Momentum indicator: positive
Sector Ranking
The following table is the percentage change of sectors and major market indexes against the 89-day exponential moving average (EMA89). The Dow Jones Wilshire 5000, as an average or a benchmark of the total market, is down 2.76%. Outperforming sectors are Precious Metals (up 2.09%), Utilities (up 1.49%), and Real Estate (down 0.70%). Underperforming sectors are Biotech (down 5.09%), Energy (down 4.48%), and Consumer Services (down 4.36%). The Dow large-cap (down 1.55%) is outperforming the market, and the Russell 2000 small-cap (down 3.67%) is underperforming.
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