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U.S. Stock Market Update


For Week of July 21, 2014, to July 25, 2014


Stocks: The Broad Market Is Losing Steam

Preview from my weekly report*

Failing price momentum is often (not always) followed by a downside correction. Short-term momentum oscillators RSI and MACD based on the S&P 500 Composite Stock Price Index (SPX: 1,978.22) fell below their lows of the previous 7 weeks on 7/17/14.

The Cumulative Daily Advance-Decline Line has remained in a clear short-term downtrend, characterized by lower highs and lower lows over the past 3 weeks. RSI and MACD momentum oscillators have remained bearishly divergent, staying stubbornly below their 2012-2013 highs, even as the Advance-Decline Line itself rose further above all previous highs on 7/1/14. Last week, both RSI and MACD broke down below their lows of the previous 5 months, suggesting a significant shift in breadth momentum.

The Cumulative Daily Advancing-Declining Volume Line also remains in a clear short-term downtrend, characterized by lower highs and lower lows. The preexisting pattern of volume momentum relative weakness, evident since 2012-2013, continues, compared to the Advancing-Declining Volume Line itself and compared to the S&P 500. Last week, momentum based on this Line, as quantified by RSI and MACD, broke down below the lows of the previous 7 weeks. Momentum divergences remain technical obstacles for the medium term (defined as multiple weeks).

The percentage of stocks in the S&P 500 trading above their own 50-day SMAs has been going down for 4 weeks, since 6/18/14. The leading indicators, RSI and MACD momentum oscillators, based on this data began new short-term downtrends a week earlier in June and have been making lower highs and lower lows since, as the chart shows. In addition, both momentum oscillators have been relatively weak for many months, failing to rise to their 2012-2013 highs as the S&P 500 price index rose to higher highs in 2014. Such bearish divergences remain unsupportive of the overwhelmingly bullish stock market sentiment that surveys have indicated for many months.

The percentage of stocks in the S&P 500 trading above their own 200-day SMAs broke down below the lows of the previous 8 weeks. This indicator has been going down for 2 weeks, since 7/3/14. The leading indicators, RSI and MACD momentum oscillators, based on this data began new short-term downtrends on 6/10/14 and have fallen to a series of lower highs and lower lows since, as the chart shows. In addition, both momentum oscillators have been relatively weak for many months, failing to rise to their 2012-2013 highs as the S&P 500 price index rose to higher highs in 2014. Momentum oscillators remain weaker than the base index itself, and momentum is a leading indicator.

The Bullish Percentage of stocks in the S&P 500 in Point-and-Figure Chart Uptrends fell to 4-week lows and shows divergent momentum. This indicator has remained below its highs of 2013. The RSI and MACD momentum oscillators have been relatively weak for the past 5 weeks. This Bullish Percentage indicator offers a clear picture of bearish divergence relative to the S&P 500 stocks on which it is based.

The Bullish Percentage of stocks in the Nasdaq Composite in Point-and-Figure Chart Uptrends also fell to 4-week lows and shows divergent momentum. When compared with the preceding chart, the Bullish Percentage of stocks in the S&P 500, this chart gives perspective on the current state of the typical Nasdaq Composite stock compared to the typical S&P 500 stock: fewer Nasdaq Composite stocks are in Point-and-Figure Chart Uptrends. This suggests that the Nasdaq Composite stock price index is being supported by narrower leadership. In other words, fewer Nasdaq stocks are bullish compared to S&P 500 stocks.  

The Number of Daily Net New Highs on the NYSE (New Highs minus New Lows) languishes at a low level. It fell to 3-month lows in July. Net New Highs have remained stubbornly and bearishly divergent all year: in 2014, this indicator has refused to rise above its 2012-2013 highs to confirm higher highs for the S&P 500 price index. And so, the bearish divergence continues.
...
*For extensive coverage of major global markets with illustrative charts, take a free trial for my weekly report --
click here.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Analysis of market forces may offer a sense of probabilities. But the many variables that can impact market prices are notoriously difficult to predict. And, market analysis is something less than an exact science. So, sound trading tactics are always recommended. See my
Money Management Rules.

This Technical Analysis is made possible by use of MetaStock software. Try it at no risk.

MetaStock Software. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Based on prices as of the close on Friday, March 21, 2014.


9.6-Year Outperformance by the
Top 10 Exchange Traded Funds

Weekly Rankings of Major Trend Relative Strength

My weekly Top 10 ETFs ranked by the Major Trend Relative Strength outperformed the S&P 500 by 117 percentage points over a 9.6 years period of real-time weekly tests. Click here for a graph of simulated performance.

Please note that my ETF rankings are available by subscription--NOW WITH A NO-RISK FREE TRIAL.
See The Colby Global Markets Report (click here).

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .


Simulated weekly performance
of my Top 10 ETFs

As shown below, my Top 10 ETFs, ranked each week by their relative strength, gained substantially more than the S&P 500 over a period of nearly 10 years, from August, 2004, to March, 2014, in simulation. Click here for a graph of simulated performance.

To see my current rankings of hundreds of ETFs, with updated performance data, plus extensive coverage of major global markets with illustrative charts, take a free trial for my weekly report -- click here.

According to CFTC Rule 4.41, hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under- or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown.

My ETF Rankings are not investment advice. Rather, they are an objective ongoing research study.

Date , S&P 500 , Top 10
8/20/04 , 100.00 , 100.00
8/27/04 , 100.86 , 101.91
9/3/04 , 101.39 , 101.90
9/11/04 , 102.33 , 103.88
9/17/04 , 102.75 , 104.31
9/24/04 , 101.07 , 106.78
10/1/04 , 103.02 , 106.69
10/8/04 , 102.17 , 110.18
10/15/04 , 100.90 , 111.75
10/22/04 , 99.76 , 109.37
10/29/04 , 102.90 , 110.15
11/5/04 , 106.17 , 111.23
11/12/04 , 107.81 , 114.52
11/19/04 , 106.55 , 117.46
11/26/04 , 107.68 , 116.81
12/3/04 , 108.45 , 120.65
12/10/04 , 108.16 , 122.30
12/17/04 , 108.73 , 118.70
12/24/04 , 110.18 , 120.94
12/31/04 , 110.34 , 122.56
1/7/05 , 108.00 , 124.27
1/14/05 , 107.85 , 117.64
1/22/05 , 106.33 , 118.28
1/28/05 , 106.65 , 115.88
2/4/05 , 109.53 , 118.24
2/11/05 , 109.74 , 122.17
2/18/05 , 109.40 , 124.41
2/26/05 , 110.29 , 127.46
3/4/05 , 111.27 , 132.68
3/11/05 , 109.26 , 134.14
3/18/05 , 108.31 , 129.62
3/25/05 , 106.65 , 127.85
4/1/05 , 106.79 , 122.68
4/8/05 , 107.54 , 125.70
4/15/05 , 104.03 , 125.41
4/22/05 , 104.90 , 118.40
4/29/05 , 105.33 , 121.41
5/6/05 , 106.65 , 119.85
5/13/05 , 105.07 , 121.51
5/20/05 , 108.28 , 116.64
5/27/05 , 109.14 , 120.80
6/4/05 , 108.89 , 121.63
6/10/05 , 109.08 , 122.76
6/17/05 , 110.80 , 123.09
6/24/05 , 108.49 , 128.50
7/1/05 , 108.75 , 125.38
7/9/05 , 110.33 , 127.64
7/15/05 , 111.80 , 129.40
7/22/05 , 112.32 , 129.44
7/29/05 , 112.37 , 133.01
8/5/05 , 111.66 , 134.40
8/12/05 , 112.02 , 135.66
8/19/05 , 111.05 , 138.84
8/26/05 , 109.72 , 134.34
9/2/05 , 110.90 , 134.72
9/10/05 , 113.03 , 142.25
9/16/05 , 112.71 , 145.58
9/23/05 , 110.65 , 145.65
9/30/05 , 111.88 , 146.84
10/7/05 , 108.88 , 150.57
10/14/05 , 108.03 , 141.26
10/21/05 , 107.40 , 137.12
10/28/05 , 109.11 , 134.34
11/4/05 , 111.09 , 136.69
11/11/05 , 112.42 , 142.53
11/18/05 , 113.65 , 143.84
11/25/05 , 115.47 , 145.81
12/2/05 , 115.18 , 149.02
12/9/05 , 114.66 , 150.54
12/16/05 , 115.38 , 151.02
12/23/05 , 115.51 , 149.72
12/31/05 , 113.65 , 152.29
1/7/06 , 117.03 , 151.09
1/13/06 , 117.23 , 161.86
1/21/06 , 114.85 , 162.81
1/27/06 , 116.88 , 161.57
2/3/06 , 115.08 , 166.78
2/10/06 , 115.35 , 162.81
2/17/06 , 117.20 , 160.41
2/25/06 , 117.40 , 162.62
3/3/06 , 117.20 , 163.95
3/10/06 , 116.67 , 163.37
3/17/06 , 119.02 , 154.31
3/24/06 , 118.63 , 161.00
3/31/06 , 117.89 , 160.19
4/7/06 , 117.95 , 161.40
4/14/06 , 117.37 , 164.56
4/21/06 , 119.39 , 164.21
4/28/06 , 119.33 , 173.62
5/5/06 , 120.70 , 172.42
5/12/06 , 117.56 , 180.23
5/19/06 , 115.36 , 174.52
5/26/06 , 116.55 , 162.11
6/3/06 , 117.29 , 159.42
6/9/06 , 114.02 , 159.68
6/16/06 , 113.95 , 148.42
6/23/06 , 113.31 , 145.56
6/30/06 , 115.65 , 146.29
7/7/06 , 115.22 , 153.11
7/14/06 , 112.55 , 152.15
7/21/06 , 112.92 , 150.84
7/28/06 , 116.41 , 154.93
8/4/06 , 116.48 , 157.29
8/11/06 , 115.33 , 154.55
8/18/06 , 118.57 , 154.44
8/25/06 , 117.91 , 152.05
9/1/06 , 119.36 , 154.35
9/9/06 , 118.26 , 150.73
9/15/06 , 120.15 , 153.02
9/22/06 , 119.71 , 153.19
9/29/06 , 121.62 , 154.84
10/6/06 , 122.87 , 156.44
10/13/06 , 124.33 , 159.77
10/20/06 , 124.61 , 159.84
10/27/06 , 125.40 , 161.04
11/3/06 , 124.21 , 159.49
11/10/06 , 125.72 , 163.29
11/17/06 , 127.57 , 165.07
11/24/06 , 127.55 , 167.50
12/1/06 , 127.16 , 166.09
12/8/06 , 128.36 , 168.66
12/15/06 , 129.93 , 170.28
12/22/06 , 128.44 , 165.79
12/29/06 , 129.13 , 171.22
1/5/07 , 128.35 , 166.88
1/12/07 , 130.26 , 168.24
1/19/07 , 130.24 , 168.95
1/26/07 , 129.48 , 169.36
2/2/07 , 131.87 , 172.69
2/9/07 , 130.93 , 174.36
2/16/07 , 132.52 , 176.28
2/23/07 , 132.12 , 175.58
3/2/07 , 126.30 , 159.04
3/9/07 , 127.67 , 162.61
3/16/07 , 126.28 , 160.79
3/23/07 , 130.75 , 169.15
3/30/07 , 129.36 , 169.59
4/6/07 , 131.45 , 176.16
4/13/07 , 132.28 , 179.67
4/20/07 , 135.14 , 182.01
4/27/07 , 136.03 , 181.21
5/4/07 , 137.08 , 184.23
5/11/07 , 137.10 , 184.71
5/18/07 , 138.64 , 187.36
5/25/07 , 138.00 , 186.33
6/1/07 , 139.88 , 192.19
6/8/07 , 137.27 , 185.55
6/15/07 , 139.56 , 192.92
6/22/07 , 136.80 , 192.29
6/29/07 , 136.87 , 190.20
7/6/07 , 139.34 , 199.72
7/13/07 , 141.35 , 205.39
7/20/07 , 139.67 , 203.16
7/27/07 , 132.83 , 189.93
8/3/07 , 130.47 , 184.58
8/10/07 , 132.35 , 182.79
8/17/07 , 131.65 , 172.13
8/24/07 , 134.69 , 182.28
8/31/07 , 134.20 , 185.84
9/7/07 , 132.34 , 182.92
9/14/07 , 135.13 , 189.73
9/21/07 , 138.91 , 201.08
9/28/07 , 139.00 , 207.07
10/5/07 , 141.81 , 217.06
10/12/07 , 142.20 , 222.48
10/19/07 , 136.63 , 213.36
10/26/07 , 139.78 , 227.40
11/2/07 , 137.45 , 226.57
11/9/07 , 132.35 , 212.38
11/16/07 , 132.81 , 209.55
11/23/07 , 131.17 , 202.27
11/30/07 , 134.85 , 206.12
12/7/07 , 136.99 , 211.39
12/14/07 , 133.65 , 200.62
12/21/07 , 135.15 , 205.20
12/28/07 , 134.61 , 205.02
1/4/08 , 128.52 , 198.75
1/11/08 , 127.56 , 200.50
1/18/08 , 120.65 , 188.83
1/25/08 , 121.15 , 187.64
2/1/08 , 127.05 , 181.90
2/8/08 , 121.21 , 181.09
2/15/08 , 122.91 , 181.77
2/22/08 , 124.11 , 188.08
2/29/08 , 121.15 , 192.12
3/7/08 , 117.76 , 193.50
3/14/08 , 117.28 , 195.18
3/20/08 , 121.05 , 180.69
3/28/08 , 119.75 , 182.06
4/4/08 , 124.77 , 181.64
4/11/08 , 121.35 , 182.30
4/18/08 , 126.58 , 191.34
4/25/08 , 127.27 , 189.58
5/2/08 , 128.73 , 187.80
5/9/08 , 126.40 , 193.58
5/16/08 , 129.77 , 201.96
5/23/08 , 125.27 , 200.26
5/30/08 , 127.50 , 202.73
6/6/08 , 123.88 , 205.04
6/13/08 , 123.82 , 203.44
6/20/08 , 119.99 , 204.08
6/27/08 , 116.39 , 204.55
7/3/08 , 114.98 , 198.71
7/11/08 , 112.85 , 198.77
7/18/08 , 114.78 , 189.17
7/25/08 , 114.51 , 188.02
8/1/08 , 114.75 , 192.91
8/8/08 , 118.02 , 184.91
8/15/08 , 118.20 , 186.17
8/22/08 , 117.65 , 182.27
8/29/08 , 116.80 , 179.79
9/5/08 , 113.11 , 176.60
9/12/08 , 113.96 , 174.92
9/19/08 , 114.27 , 174.93
9/26/08 , 110.46 , 172.47
10/3/08 , 100.08 , 190.50
10/9/08 , 82.84 , 232.08
10/17/08 , 85.63 , 217.04
10/24/08 , 79.83 , 237.28
10/31/08 , 88.20 , 203.12
11/7/08 , 84.76 , 211.90
11/14/08 , 79.51 , 226.64
11/21/08 , 72.84 , 249.02
11/28/08 , 81.60 , 217.64
12/5/08 , 79.76 , 220.06
12/12/08 , 80.10 , 216.07
12/19/08 , 80.84 , 215.21
12/26/08 , 79.46 , 218.49
1/2/09 , 84.84 , 200.77
1/9/09 , 81.06 , 204.82
1/16/09 , 77.40 , 213.16
1/23/09 , 75.75 , 216.12
1/30/09 , 75.19 , 215.69
2/6/09 , 79.08 , 200.81
2/13/09 , 75.28 , 212.89
2/20/09 , 70.11 , 231.70
2/27/09 , 66.93 , 239.07
3/6/09 , 62.22 , 258.45
3/13/09 , 68.88 , 227.97
3/20/09 , 69.97 , 225.01
3/27/09 , 74.29 , 205.49
4/3/09 , 76.71 , 197.61
4/10/09 , 77.99 , 196.66
4/17/09 , 79.17 , 195.55
4/24/09 , 78.87 , 195.64
5/1/09 , 79.89 , 193.41
5/8/09 , 84.60 , 196.64
5/15/09 , 80.38 , 185.68
5/22/09 , 80.76 , 186.97
5/29/09 , 83.68 , 195.85
6/5/09 , 85.59 , 197.89
6/12/09 , 86.15 , 196.71
6/19/09 , 83.87 , 187.50
6/26/09 , 83.66 , 188.93
7/3/09 , 81.62 , 185.32
7/10/09 , 80.04 , 179.40
7/17/09 , 85.62 , 193.37
7/24/09 , 89.16 , 204.04
7/31/09 , 89.91 , 204.36
8/7/09 , 92.00 , 206.18
8/14/09 , 91.42 , 204.49
8/21/09 , 93.42 , 205.40
8/28/09 , 93.68 , 205.62
9/4/09 , 92.54 , 202.80
9/11/09 , 94.94 , 209.05
9/18/09 , 97.26 , 215.33
9/25/09 , 95.09 , 209.01
10/2/09 , 93.34 , 202.00
10/9/09 , 97.55 , 215.16
10/16/09 , 99.03 , 218.66
10/23/09 , 98.29 , 215.23
10/30/09 , 94.34 , 198.32
11/6/09 , 97.36 , 207.43
11/13/09 , 99.56 , 213.90
11/20/09 , 99.37 , 210.53
11/27/09 , 99.38 , 210.24
12/4/09 , 100.69 , 214.97
12/11/09 , 100.73 , 210.86
12/18/09 , 100.38 , 207.62
12/24/09 , 102.56 , 214.83
12/31/09 , 101.53 , 212.11
1/8/10 , 104.25 , 219.35
1/15/10 , 103.43 , 213.49
1/22/10 , 99.40 , 201.27
1/29/10 , 97.77 , 195.18
2/5/10 , 97.07 , 189.12
2/12/10 , 97.92 , 195.11
2/19/10 , 100.99 , 202.11
2/26/10 , 100.56 , 201.77
3/5/10 , 103.67 , 212.78
3/12/10 , 104.70 , 217.95
3/19/10 , 105.60 , 216.72
3/26/10 , 106.21 , 218.54
4/1/10 , 107.26 , 221.41
4/9/10 , 108.74 , 226.29
4/16/10 , 108.54 , 221.56
4/23/10 , 110.83 , 227.97
4/30/10 , 108.04 , 220.60
5/7/10 , 101.14 , 200.18
5/14/10 , 103.40 , 207.57
5/21/10 , 99.03 , 194.24
5/28/10 , 99.19 , 198.39
6/4/10 , 96.95 , 189.53
6/11/10 , 99.39 , 198.22
6/18/10 , 101.74 , 204.88
6/25/10 , 98.03 , 200.18
7/2/10 , 93.10 , 191.66
7/9/10 , 98.14 , 196.67
7/16/10 , 96.95 , 193.62
7/23/10 , 100.39 , 200.03
7/30/10 , 100.30 , 203.07
8/6/10 , 102.12 , 205.67
8/13/10 , 98.26 , 199.30
8/20/10 , 97.57 , 202.81
8/27/10 , 96.93 , 203.20
9/3/10 , 100.56 , 209.21
9/10/10 , 101.02 , 208.86
9/17/10 , 102.48 , 213.36
9/24/10 , 104.58 , 217.65
10/1/10 , 104.36 , 223.19
10/8/10 , 106.08 , 226.22
10/15/10 , 107.09 , 229.40
10/22/10 , 107.71 , 227.62
10/29/10 , 107.73 , 227.75
11/5/10 , 111.61 , 239.24
11/12/10 , 109.18 , 231.09
11/19/10 , 109.23 , 232.80
11/26/10 , 108.29 , 225.87
12/3/10 , 111.50 , 236.59
12/10/10 , 112.93 , 236.79
12/23/10 , 114.42 , 236.51
12/31/10 , 114.50 , 237.96
1/7/11 , 115.76 , 232.37
1/14/11 , 117.74 , 237.13
1/21/11 , 116.84 , 227.91
1/28/11 , 116.21 , 231.01
2/4/11 , 119.35 , 239.79
2/11/11 , 121.01 , 242.73
2/18/11 , 122.28 , 250.91
2/25/11 , 120.17 , 250.04
3/4/11 , 120.28 , 255.93
3/11/11 , 118.75 , 245.10
3/18/11 , 116.47 , 243.54
3/25/11 , 119.62 , 255.41
4/8/11 , 120.92 , 264.69
4/15/11 , 120.15 , 258.72
4/22/11 , 121.76 , 266.10
4/29/11 , 124.15 , 268.62
5/6/11 , 122.02 , 244.58
5/13/11 , 121.80 , 244.21
5/20/11 , 121.39 , 243.32
5/27/11 , 121.19 , 246.94
6/3/11 , 118.37 , 241.12
6/10/11 , 115.72 , 234.09
6/17/11 , 115.76 , 231.74
6/24/11 , 115.49 , 228.23
7/1/11 , 121.97 , 237.37
7/8/11 , 122.35 , 242.19
7/15/11 , 119.83 , 238.98
7/22/11 , 122.46 , 244.55
7/29/11 , 117.66 , 238.55
8/5/11 , 109.20 , 221.59
8/12/11 , 107.33 , 225.90
8/19/11 , 102.29 , 231.88
8/26/11 , 107.14 , 230.49
9/2/11 , 106.88 , 235.57
9/9/11 , 105.09 , 232.44
9/16/11 , 110.71 , 227.47
9/23/11 , 103.47 , 214.72
9/30/11 , 103.01 , 214.24
10/7/11 , 105.20 , 212.76
10/14/11 , 111.49 , 213.59
10/21/11 , 112.74 , 212.78
10/28/11 , 117.00 , 215.86
11/4/11 , 114.10 , 214.48
11/11/11 , 115.07 , 215.14
11/18/11 , 110.68 , 208.51
11/25/11 , 105.49 , 204.82
12/2/11 , 113.29 , 206.35
12/9/11 , 114.28 , 206.03
12/16/11 , 111.04 , 200.66
12/23/11 , 115.20 , 203.66
12/30/11 , 114.50 , 203.90
1/6/12 , 116.34 , 203.53
1/13/12 , 117.37 , 205.03
1/20/12 , 119.76 , 207.08
1/27/12 , 119.85 , 209.86
2/3/12 , 122.45 , 215.95
2/10/12 , 122.24 , 211.46
2/17/12 , 123.93 , 214.62
2/24/12 , 124.34 , 215.28
3/2/12 , 124.70 , 214.02
3/9/12 , 124.81 , 215.31
3/16/12 , 127.84 , 220.00
3/23/12 , 127.20 , 220.27
3/30/12 , 128.24 , 221.83
4/6/12 , 127.29 , 220.83
4/13/12 , 124.76 , 215.70
4/20/12 , 125.51 , 215.05
4/27/12 , 127.77 , 221.58
5/4/12 , 124.65 , 216.41
5/11/12 , 123.22 , 216.43
5/18/12 , 117.92 , 205.05
5/25/12 , 119.98 , 208.96
6/1/12 , 116.36 , 204.06
6/8/12 , 120.70 , 206.20
6/15/12 , 122.26 , 207.12
6/22/12 , 121.55 , 206.01
6/29/12 , 124.02 , 210.46
7/6/12 , 123.34 , 212.87
7/13/12 , 123.53 , 213.98
7/20/12 , 124.06 , 213.44
7/27/12 , 126.19 , 215.44
8/3/12 , 126.64 , 213.50
8/10/12 , 128.00 , 211.61
8/17/12 , 129.12 , 214.47
8/24/12 , 128.48 , 213.81
8/31/12 , 128.06 , 213.72
9/7/12 , 130.92 , 217.70
9/14/12 , 133.45 , 222.03
9/21/12 , 132.94 , 222.40
9/28/12 , 131.17 , 218.05
10/5/12 , 133.01 , 221.92
10/12/12 , 130.07 , 216.30
10/19/12 , 130.49 , 218.22
10/26/12 , 128.55 , 220.17
11/2/12 , 128.76 , 222.53
11/9/12 , 125.63 , 217.56
11/16/12 , 123.81 , 214.43
11/23/12 , 128.30 , 219.12
11/30/12 , 128.94 , 220.55
12/7/12 , 129.11 , 221.82
12/14/12 , 128.70 , 224.71
12/21/12 , 130.21 , 226.35
12/28/12 , 127.69 , 224.88
1/4/13 , 133.52 , 232.32
1/11/13 , 134.02 , 234.19
1/18/13 , 135.29 , 237.08
1/25/13 , 136.84 , 240.77
2/1/13 , 137.77 , 241.70
2/8/13 , 138.20 , 236.86
2/15/13 , 138.37 , 239.33
2/22/13 , 137.99 , 237.70
3/1/13 , 138.23 , 237.07
3/8/13 , 141.23 , 243.97
3/15/13 , 142.09 , 245.89
3/22/13 , 141.75 , 241.28
3/29/13 , 142.87 , 243.60
4/5/13 , 141.42 , 237.43
4/12/13 , 144.66 , 242.90
4/19/13 , 141.60 , 237.97
4/26/13 , 144.06 , 242.77
5/3/13 , 146.99 , 246.15
5/10/13 , 148.74 , 250.11
5/17/13 , 151.82 , 254.82
5/24/13 , 150.19 , 250.60
5/31/13 , 148.47 , 245.05
6/7/13 , 149.62 , 243.36
6/14/13 , 148.11 , 239.94
6/21/13 , 144.98 , 233.03
6/28/13 , 146.24 , 236.48
7/5/13 , 148.58 , 242.31
7/12/13 , 152.97 , 250.80
7/19/13 , 154.06 , 254.09
7/26/13 , 154.02 , 254.02
8/2/13 , 155.66 , 256.52
8/9/13 , 154.00 , 252.35
8/16/13 , 150.76 , 246.69
8/23/13 , 151.45 , 251.09
8/30/13 , 148.67 , 244.79
9/6/13 , 150.70 , 251.98
9/13/13 , 153.68 , 257.69
9/20/13 , 155.68 , 261.89
9/27/13 , 154.03 , 263.36
10/4/13 , 153.91 , 266.44
10/11/13 , 155.07 , 264.51
10/18/13 , 158.83 , 272.63
10/25/13 , 160.22 , 270.75
11/1/13 , 160.39 , 265.22
11/8/13 , 161.21 , 265.19
11/15/13 , 163.72 , 270.77
11/22/13 , 164.32 , 271.16
11/29/13 , 164.41 , 275.08
12/6/13 , 164.35 , 271.50
12/13/13 , 161.64 , 266.19
12/20/13 , 165.55 , 273.93
12/27/13 , 167.65 , 278.31
1/3/14 , 166.74 , 277.71
1/10/14 , 167.74 , 282.34
1/17/14 , 167.41 , 284.45
1/24/14 , 163.00 , 274.28
1/31/14 , 162.30 , 271.68
2/7/14 , 163.61 , 271.65
2/14/14 , 167.40 , 280.00
2/21/14 , 167.18 , 283.73
2/28/14 , 169.29 , 287.96
3/7/14 , 170.99 , 294.23
3/14/14 , 167.63 , 285.56
3/21/14 , 169.93 , 286.75
Date , S&P 500 , Top 10
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Money Management Rules:
At times of sudden rapid change it is particularly important to apply sound trading tactics.
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My latest book was named one of the top investment books by Stock Trader's Almanac 2005. This book also received an excellent review in the November 2003 issue of Futures.
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Robert W. Colby, CMT,
is a consultant to institutional and private investors and traders, providing regular analytical reports, custom research services, and trading systems tailored to clients' objectives. Clients include the most successful traders and investors in the world. Robert is the author of The Encyclopedia of Technical Market Indicators, Second Edition, McGraw-Hill, 2003, which has become the standard reference for indicator and trading systems design. Previously, at several large Wall Street firms, Robert worked as a proprietary trader, technical analyst, and fundamental analyst. He also was adjunct professor at New York University and New York Institute of Finance, where he developed new courses on technical analysis and market timing.

Robert W. Colby is a Chartered Market Technician (CMT), an accreditation granted to members by the Market Technicians Association (www.mta.org) after demonstrating professional competence and ethics over a period of many years. Robert has been a member of the MTA since 1980, and he strongly supports the MTA's high standards. He also supports the the MTA Educational Foundation (www.mtaef.org), which works to have technical analysis included in the curriculum of major business schools. Please click the following banner for information about the Market Technicians Association. The Market Technicians Association (MTA) is the national organization of investment analysts, stock market analysis professionals, and certified market technicians in the United States.

 
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Ranking ETFs
"Robert Colby has evolved a system that, while hardly foolproof, is pretty clever," wrote Daniel Fisher, "Surfin' ETFs", Forbes, Investment Guide, Special Issue, June 4, 2007.
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INTERVIEW of Robert W. Colby in Technical Analysis of STOCKS & COMMODITIES magazine, December 2006 issue.
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"Gold's next move: History, logic, and intermarket relationships. See if testing gold's relationship to different markets over a 32-year period provides possible trade signals for the yellow metal."
by Robert W. Colby, CMT.
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"Which gold indicators are best? Divining gold's next move."
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"Applying the Relative Strength strategy to ETFs."
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"PUTTING CANDLES TO THE TEST, How Profitable Are They Really?" by Robert W. Colby, CMT. Published in SFO, STOCKS, FUTURES AND OPTIONS MAGAZINE, Volume 5. No. 8. August 2006, pages 91-94. Please click here to buy this article. (Scroll to bottom of linked page.)

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Active Trader magazine September 2004 interviewed Robert W. Colby. 4 pages. "Robert W. Colby: Technical collector. A discussion with Robert W. Colby about technical trading and his revised Encyclopedia of Technical Market Indicators, Second Edition. By Active Trader Staff."

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For information about
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