Market Views on DJIA stocks

After the sell off on Monday the market has developed so far 2 consecutive up days that retrace partially the horrible plunge of more than 8%. The 8850 level is absolutely critical now for the continuation of the rebound toward 9500. I am positive although prices look trapped in a very wide trading range. The market is trying to develop a base and we should not see lower lows in the next weeks as prices should move to the higher side of the range in my opinion. XOM, T, MCD, HD, VZ continue to do well and should be followed.


In the Figure you can see a summary of the trend conditions of the Index stocks. I used the 20, 50, 100 and 200 days moving average of the close. The background is Green when the close is > than the moving average. Red when it is below and yellow when it crosses. + and - indicate the slope of the moving average.

RANGE ANALYSIS
I have also programmed Tradestation Radarscreen to display:
- range of the past 20 trading sessions (%);
- % from the lowest close of the past 20 trading session. The cell
is RED if the close of today is the lowest close of the past 20 days.
- % from the highest close of the past 20 trading session. The cell
is GREEN if the close of today is the highest close of the past 20 days.
In the other columns I included the % of the close from the 20,50 and 100 days moving average.

CONSECUTIVE UP/DOWN CLOSES
I have programmed the Tradestation Radarscreen to display how nany consecutive up/down closes have been printed and what is the probability that the next day tomorrow) the asset closes in the opposite direction. I have calculated the probability using the past 1000 trading days.

The stocks object of screening are:
3M Company (MMM), Alcoa Inc (AA), Altria Group Inc (MO), American Express Company (AXP), American International Group Inc (AIG), At&t Inc (T), Caterpillar (CAT), Citigroup Inc (C), E.I. du Pont de Nemours & Company (DD), Exxon Mobil (XOM), General Electric (GE), General Motors Corp (GM), Hewlett-Packard (NYSE:HPQ), Honeywell International Inc (HON), IBM (IBM), Intel Corp (INTC), Johnson & Johnson (JNJ), JPMorgan Chase & Co. (JPM), McDonald's Corporation (MCD), Merck & Co. (MRK), Microsoft (MSFT), Pfizer Inc (PFE), The Boeing Company (BA), The Coca-Cola Company (KO), The Home Depot (HD), The Procter & Gamble Company (PG), United Technologies Corporation (UTX), Verizon Communications (VZ), Wal mart Stores Inc (WMT), Walt Disney (DIS).