Weekly Market Review: May 17, 2009

We finally have a week of lower highs and lower lows this week.  This week’s move is putting a pause on our multi-week rally since March.  However, we closed at the long term support at 883 from the December 2002 crash zone.  And as you can see from Figure 2, things are getting pretty congested around this 880 zone.  Nevertheless, I’ve initiated a short in GE with a tight stop to catch this ride.  I would need to see a more prominent lower high and lower low established before being more aggressive on the shorts.

[caption id="attachment_1424" align="aligncenter" width="499" caption="S&P 500 ETF"][S&P 500 ETF][][/caption] [caption id="attachment_1425" align="aligncenter" width="499" caption="S&P 500 ETF"][S&P 500 ETF][][/caption]

GICS Sectors Review

I’ve taken this chart directly from the Cara Community RSI tool.  I find that my graphical charts are not efficient as a summary tool.  Hopefully this numerical chart can do complement my charts well.  I’ll need to work out a more efficient sectors review system in the future.

Ticker ![][] Last ![][] RSI7d ![][] RSI7w ![][] RSI7m ![][] Zone (estimate) ![][]
[XLE][] \*
48.00 44.9 54.08 37.68
[XLB][] \*
25.83 48.95 64.88 41.39
[XLI][] \*
21.80 44.01 55.71 35.73
[XLY][] \*
22.13 32.43 54.81 42.96
[XLP][] \*
22.37 49.17 55.9 35.7
[XLV][] \*
25.33 60.54 56.61 36.85
[XLF][] \*
11.53 48.37 56.91 33.41
[XLK][] \*
16.80 39.51 57.75 41.83
[IYZ][] \*
17.52 43.85 58.84 41.99
[XLU][] \*
25.94 33.99 46.27 29.79

[caption id="attachment_1427" align="aligncenter" width="500" caption="6 months: XLE XLB XLI XLY XLP XLV XLF XLK IYZ XLU"][6 months:
XLE XLB XLI XLY XLP XLV XLF XLK IYZ XLU][][/caption] [caption id="attachment_1428" align="aligncenter" width="500" caption="1 month: XLE XLB XLI XLY XLP XLV XLF XLK IYZ XLU"][1 month: XLE XLB XLI XLY XLP
XLV XLF XLK IYZ XLU][][/caption] [caption id="attachment_1429" align="aligncenter" width="500" caption="5 days: XLE XLB XLI XLY XLP XLV XLF XLK IYZ XLU"][5 days: XLE XLB XLI XLY XLP XLV XLF XLK IYZ
XLU][][/caption]

[S&P 500 ETF]: http://traderpau.files.wordpress.com/2009/05/2009-05-17-spy.png [S&P 500 ETF]: http://traderpau.files.wordpress.com/2009/05/2009-05-17-spy_prop.png [6 months: XLE XLB XLI XLY XLP XLV XLF XLK IYZ XLU]: http://traderpau.files.wordpress.com/2009/05/2009-05-17-sectors_6m.png [1 month: XLE XLB XLI XLY XLP XLV XLF XLK IYZ XLU]: http://traderpau.files.wordpress.com/2009/05/2009-05-17-sectors_1m.png [5 days: XLE XLB XLI XLY XLP XLV XLF XLK IYZ XLU]: http://traderpau.files.wordpress.com/2009/05/2009-05-17-sectors_5d.png