Stock market status as of May 16, 2010

The Dow Jones Index looks bearish. But to really know the status of the index, let us look at the underlying components of the Dow Jones index to see if we can try to see where the market is headed in the coming weeks.

It is easy to analyse the components of Dow Jones index, since there are only 30 stocks.




So, I added the 30 stocks to DreamTai, loaded the data and analysed the charts.

And.....the picture does not look bullish. Many of the stocks are below their 20 and 50 days moving averages.

Based on the Power Rankings, I selected the six most bearish stocks..that is the six stocks with the most negative power rankings.

They are as follows:

1. HPQ Power Ranking =-4.01
2. AA Power Ranking =-4.0
3. JPM Power Ranking =-3.8
4. BAC Power Ranking =-3.5
5. AXP Power Ranking =-3.47
6. MRK Power Ranking =-3.3

Here are the charts for these six weak stocks. I have added comments on these charts also.

HPQ


AA



JPM


BAC



AXP



MRK




Let us see what happens this coming week.
We live in interesting times...:-)