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U.S. Stock Market Update


For Week of September 15, 2014, to September 19, 2014


Fear of "Fed Speak"?
Or just trying to scare up some trading volume?

Preview from my weekly report*

Federal Reserve will release its FOMC statement next Wednesday 9/17/14, Chair Janet Yellen will hold a press conference afterwards, and the Federal Reserve governors will present their latest forecast on the future of interest rates.

Wall Street brokers got busy last week spinning tales, as they always do. Brokers like to make up stories (which they call "research") to stimulate trading volume, buying and selling, so that they can make money: more trading equals more income. Specifically, some of the bullish strategists at the big-name brokerage firms flipped their talk from "Steaming Ahead" optimism just a week earlier to serious worry: if the Fed says interest rates could rise further, faster, or sooner than the marketís expectations, market prices of securities could fall, brokers warned. Stimulated by this worry talk, some investors gave brokers orders to sell securities--mission accomplished.

There already had been a few statements by Fed officials hinting that the time table for the Fed easing off the monetary policy gas pedal might happen a little sooner. On the other hand, there have been other statements favoring a steady monetary policy course. Nevertheless, the brokers had the excuse they needed to spin a yarn.

It seems to us that both the economic data and the talk of Fed officials have been contradictory (both positive and negative) for some months already. Despite some internal debate, the actual result has been that the Fed has steered a remarkably steady course. It is hard to imagine a justification for the Fed to risk upsetting markets now because that would be counterproductive to achieving the goals the Fed says it wants to accomplish. Given the uncertain nature of the actual available economic evidence, we think it unlikely that the Fed is ready to change from a steady course anytime soon. And so, the fears promoted by the Wall Street brokerage trading machine may be overdone.

If the Fed does not change from a steady, accommodative monetary policy next Wednesday afternoon, markets may respond with quick relief rallies. But if the Fed seems more hawkish (that is, moving toward more restrictive monetary policy), market prices could fall further. Anything can happen, of course, but we think more of the same accommodative monetary policy is more likely than any significant change in course toward less accommodative monetary policy.

Technical indicators for the stock market have continued to diverge bearishly, and that means not all parts of the market are in gear and pulling together.

When we analyze the broad range of variables, it appears that the risks to this old bull market for stocks are significant. Stock market sentiment indicators have been at excessive, multiyear high levels of bullishness (which is bearish). Bearish momentum divergences have been accumulating. Many stocks and indexes have been making lower highs and lower lows. Geopolitical risks appeared to lessen this month but have not actually gone away. Economic performance has been hard to read of late, fluctuating up and down, but generally the U.S. economy has been disappointingly sluggish since the recession ended in 2009. Some thoughtful analysts are increasingly concerned that investors' bullish enthusiasm might be disconnected from underlying economic fundamentals.

September and October have been the seasonally weakest months of the year for the stock market for more than a century--but of course past performance is not a fool-proof guide to future performance.
...
*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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TradingMarkets.com interviewed
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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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