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Wednesday, May 08, 2013
Market Stage:
From our previous report: "SBV values are currently still at high positive levels which makes the suggestion of a market correction premature" - Today, the major indexes advanced modestly.
60-day charts with a 20-period SBV are now showing flat SBV oscillator readings. The following SBV values were recorded at session's end: plus 20% on the S&P 500, plus 15% on the DJI, plus 28% on the NASDAQ 100 and plus 32% on the Russell 2000. Flat SBV readings suggest possibility of changes in trend, however, SBV readings are at high positive levels. Furthermore the odds are on the bullish side. We will continue to monitor this chart setting in order to determine at which point SBV oscillator readings start to decline; this might then suggest increased odds for a coming move to the downside.
1.5-year charts with a 10-period SBV are showing flat SBV oscillator readings. The positive SBV values seen on this chart are bullish. Overall, this chart reflects bullish longer-term market sentiment.
Market Performance:
| Last | Change | Volume | A/D Ratio | |
| S&P 500 | 1,632.64 | 6.71 (0.41%) | 2,262,872,100 | 2.15 |
| DJI | 15,104.28 | 48.23 (0.32%) | 549,977,100 | 2.33 |
| NASDAQ 100 | 2,968.24 | 15.36 (0.52%) | 633,640,300 | 2.45 |
| Russell 2000 | 970.29 | 2.50 (0.26%) | 934,514,600 | 1.54 |
| NYSE Comp. | 9,462.82 | 53.75 (0.57%) | 3,190,247,200 | 2.06 |
The broad market advanced modestly today. The NYSE Comp. outperformed other indexes by climbing up 0.57% while the Russell 2000 gained only 0.26%. The S&P 500 ended session higher for an fifth time in a row. Of the last 14 sessions, the S&P 500 has closed green 12 times. The DJI is also up on 11 of the last 14 sessions. On the NASDAQ 100, we saw the 10th up-close in the last 14 sessions. The Russell 2000 are now up on 12 of the last 14 sessions as well. The NASDAQ 100 pushed higher to close up 0.52% today; it ends the week with a gain of 0.8%. The S&P 500 added 0.41% in today's session; it raised 1.14% for the week. The Dow closed up 0.32% today and up 0.88% for the week.
Today, the S&P 500's daily volume was 2,263 million shares. This was close to the average daily volume for the past 3 months.
Short-Term Outlook:
In previous short-term outlook, we had suggested: "30-day charts (1 bar = 30 minutes) with a 13-period SBV are showing flat SBV with readings that are at positive levels which would favor bulls. Furthermore, it is difficult to consider 15-day charts' outlook as strong signals" - Today, the major indexes advanced modestly.
15-day charts (1 bar = 15 minutes) with a 16-period SBV are showing flat SBV readings. On the other hand, 30-day charts (1 bar = 30 minutes) with a 13-period SBV are showing advancing SBV. Positive money flow on this chart would suggest the possibility of positive trading.
Financial Press Overview:
From Reuters:
The Federal Reserve's extremely accommodative monetary policy has not boosted jobs as much as it should because the U.S. Congress and White House cannot agree on tax and spending policies, a top Fed official said on Wednesday.
The United States will focus on ways Europe can boost demand and on Japan's aggressive monetary policy during upcoming meetings of the Group of Seven finance ministers and central bankers, a U.S. Treasury official said on Wednesday.
With the inflation rate about half of the Federal Reserve's 2.0 percent target, the central bank is facing a major test and some experts wonder whether it will eventually need to ramp up its already aggressive bond buying program.
April's U.S. budget surplus was bigger than a year ago and the federal government ran a much smaller deficit in the first seven months of the current fiscal year than the previous year, the Congressional Budget Office said on Tuesday.
Index-Day-Trading - Market Research Team © Index-Day-Trading
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