Oct 1:  The Dow lost 2.1%, Nasdaq 3.1%.  Separation between groups was 4.8%.

Non-volatiles held up best...down 1.4%.  Not surprisingly, then, utilities avoided major losses.  Stocks trading well below major resistance levels outperformed.

Stocks trading well above major resistance levels were weakest...down 6.2%.  Volatiles were beaten down.  Stocks with major gains over the last three months were punished.

The above trends must be considered negative for the next session.  The negativity is mediated, however, by the fact that Fridays tend to reverse the trends of the week. 

Sep 30:  The Dow lost .3%, Nasdaq .1%.  Our own take on the market had it down 1.1%...quite a discrepancy!  Separation between groups was 2.6%.

We didn't identify any groups that actually gained today.  Oils and chemical-related issues held up well...down .2%.  Non-volatiles avoided large losses.  Semiconductors outperformed.

Stocks that closed well above their lows in the previous session were weakest today...down 2.6%.  Volatiles were victimized. 

The above trends are negative as indicators for the next session.

Sep 29:  The Dow lost .5%, Nasdaq .3%.  Separation between groups was 3%.

Our "Computer Services" category made a rare appearance at the top of the winning column today...up 1.1%.  Construction-related stocks fared well. 

On the negative side, REIT's dropped...down 1.8%.  Semiconductors were weak.  Small caps tended to lose in excess of the general market.

The above trends are neutral as indicators of the next session's direction.

Sep 28:  The Dow gained 1.3%, Nasdaq 1.9%.  Separation between groups was 3.5%.

Stocks with high recent volatility were strongest today...up a sweet 4.2%.  Stocks trading well over their prime resistance levels followed closely. 

We didn't identify any groups that actually lost money.  Small, illiquid stocks were weakest...up a mere .7%.  Stocks trading well below their prime resistance levels failed to impress.  Non-volatiles lagged.

The above trends are positive for the next session.

Sep 25:  The Dow lost .4%, Nasdaq .8%.  Separation between groups was a weak 2.4%.

REIT's led all gainers...up .9%.  Stocks with big losses on Tuesday (at least 3%) turned around.  Small caps outperformed, despite Nasdaq's relative weakness.  3 month losers finished with gains.

On the negative side, metals and mining stocks lost 1.4%.  Volatiles lost in excess of the market.  Stocks with large gains (at least 57%) over the last three months suffered.

The above trends are negative for the next session.

Sep 24:  The Dow lost .4%, Nasdaq 1.1%.  Our own take on the market had it down 1.9%.  Separation between groups was 5.3%.

We didn't identify any groups that actually finished the session with gains.  The least volatile stocks held up best...down .2%.  Utilities closed with minimal losses. 

The biggest losers were stocks with large gains over the last 3 months...down a big 5.5%.  Volatiles took a beating.  Stocks with big gains on Tuesday reversed.  At the same time, yearlong losers also lost in excess of the market.

Bearing in mind that Fridays have a tendency to reverse the trends of the week, the above activity is negative for the next session.

Sep 23:  The Dow lost .8%, Nasdaq .7%.  Our own take on the market had it down 1.1%.  Separation between groups was 3.7%.

Small, illiquid stocks were strongest today...up .4%.  Free agents finished with gains.  Semiconductors broke a trend of recent weakness.  Non-volatiles resisted large losses.

On the negative side, REIT's lost 3.3%.  Stocks with large gains over the last 1 to 3 months were weak.  Volatiles were hurt in excess of the market.

The above trends are negative for the next session.

Sep 22:  The Dow gained .5%, Nasdaq .4%.  Separation between groups was a relatively large 5.2%.

Stocks with large yearlong losses (down at least 67%) were strongest today...up 4.4%.  REIT's, being a large component of that group, followed.  Stocks with nice gains over the last 1 to 3 months also fared well.  Volatiles outperformed.

On the negative side, biotechs dropped a full 1%.  Non-volatiles lagged.

The above trends are positive for the next session.

Sep 21:  The Dow lost .4%, Nasdaq .3%.  Separation between groups was 3%.

Stocks that closed near their lows last Friday were strongest today...up 1.3%.  Biotechs fared well.  Semiconductors outperformed as well.  Three month losers round out our list of market beaters.

On the negative side, transportation-related equities were weakest...down 1.7%.  Stocks with big gains over the last three months (up at least 105%!) slipped. 

The above trends are neutral as indicators of the next session. 

Sep 18:  The Dow gained .4%, Nasdaq .3%.  Separation between groups was a mere 2.3%.  Isn't the market supposed to become more volatile on options expiration day?

There was little focus on either end of the market.  Wednesday's big losers were strongest today...up 1.6%.  Stocks with high or negative p/e ratios fared well.  Cheap stocks outperformed. 

Stocks with high recent volatility led our losers...down .8%.  Oils and metals and mining interests closed with small losses.

The above trends are mixed as indicators of the next session's direction.

Sep 17:  The Dow lost .1%, Nasdaq .3%.  Separation between groups was 3.5%.

Stocks with relatively large losses in the previous session (at least .7%) were strongest today...up 1.2%.  Volatile stocks fared well...a rather odd result in a down market.  Stocks with large losses over the last three months outperformed.  Biotechs held up well.

Stocks with strong momentum over the last week were victimized...down 2.3%.  In fact, winners over just about any time frame - one day to one year - were hurt.

The above trends are neutral for the next session...the general losses are negative, but we still see a willingness to speculate.

Sep 16:  The Dow gained 1.1%, Nasdaq 1.5%.  Our own take on the market had it up 2.1%.  Separation between groups was 3.9%.

Stocks with big gains last Thursday were strongest today...up 4.1%.  Yesterday's big gainers also repeated...momentum-based strategies have paid off nicely of late.  Banks and oils fared well. 

We didn't identify any groups that actually lost money.  No strongly focused trends emerged on the weak side of the market today.  Stocks that have failed to partake in the recent momentum were weak, gaining as little as .3%.  Biotechs lagged.

The above trends are positive as indicators for the next session.

Sep 15:  The Dow gained .6%, Nasdaq .5%.  Separation between groups was 3.5%.

Cheap stocks led the way today...up 3.4%.  Volatiles stocks and yearlong losers were also found in the mix.  Oils outperformed.  Yesterday's big winners continued upward.

On the negative side, non-volatiles actually lost a tad (.1%).  It would appear that funds are actually being siphoned from conservative investments to fund more speculative purchases.  Medical technology stocks lagged.  Stocks with large yearlong gains did not impress.

The above trends are positive for the next session.

Sep 14:  The Dow gained .2%, Nasdaq .5%.  Our own take on the market had it up 1.1%.  Separation between groups was 2.6%.

REIT's led the way today...up 2.7%.  Biotechs weren't far behind.  Stocks with strong performances last week tended to retain the momentum.  Last Thursday's big gainers were particularly strong.

We didn't identify any groups that actually lost money.  Stocks with short term averages well below longer term averages had tepid performances...up as little as .2%.  Non-volatiles failed to partake in the positivity.  Banks underperformed...rather odd, as the performances of banks and REIT's are usually linked.

The above trends are positive for the next session.

Sep 11:  Both the Dow and Nasdaq lost .2%.  Separation between groups was 3.6%.

Despite the general market's directionlessness, some individual groups managed nice gains.  Cheap stocks led the way...up 2.5%.  Stocks with large losses over the last year showed good strength.  Oils beat the market.

On the negative side, semiconductors were weakest...down 1.1%.  Banks followed.  Stocks with large gains tended to lose in excess of the market.

The above trends are mixed as indicators of the next session's direction.

Sep 10:  The Dow gained .8%, Nasdaq 1.1%.  We had the market up 1.5%.  Separation between groups was 3.7%.

Stocks with strong momentum over the last week continued upwards...up 3.7%.  Yesterday's big gainers were particularly strong.  Volatiles outperformed.  Oils fared well. 

We didn't identify any groups that actually lost money.  Banks, however, were weak again...up .1%.  Non-volatiles lagged.

The above trends are positive as indicators for the next session.  Friday does have a way of reversing the trends of the week, however, so we'd be wary about simply riding the momentum.

Sep 9:  The Dow gained .5%, Nasdaq 1.1%.  We had the market up 1.6%.  Separation between groups was 4.5%.

Stocks with big gains in the previous session continued upward to the tune of 4.6%.  Monday's winners also fared well.  Stocks with nice gains over the last three months outperformed.

We didn't identify any groups that actually lost money.  Utilities were weakest, gaining a mere .1%.  Non-volatiles lagged.  Expensive stocks did not impress.

The above trends are positive for the next session.

Sep 8:  The Dow gained .6%, Nasdaq .9%.  Separation between groups was 3.8%.

Stocks with large losses this time last year were strongest today...up 3.3%.  Oils and REIT's followed.  Given the losses in those two industries, it's not surprising that yearlong losers also fared well.

On the negative side, banks were weak...down .5%.  Small, illiquid interests did not impress.  Healthcare stocks lagged. 

The above trends are moderately positive for the next session.

Sep 4:  The Dow gained 1%, Nasdaq 1.8%.  Separation between groups was 2.7%. 

Stocks trading well above their prime resistance levels were strongest today...up 3.2%.  Stocks that closed well below their highs in the previous sessions fared well.

We didn't identify any groups that actually lost money.  Stocks with a strong recent tendency to close near their highs were weakest...up .5%.  Non-volatiles lagged...not surprisingly, utilities did as well. 

The above trends are positive for the next session.

Sep 3:  The Dow gained .7%, Nasdaq .8%.  We had the market up 1.3%.  Separation between groups was 2.8%.

Stocks that closed well below yesterday's highs were strongest today...up 2.8%.  Those with large losses (-23% or worse) over the last three months fared well.  Metals and mining stocks prospered.  Volatiles round out the list of winners.

We didn't identify any groups that actually lost money today.  Non-volatiles did not impress...up as little as .1%.  Utilities lagged, as they often do.  The smallest of small caps stayed put.

Bearing in mind that Fridays often break the trends of the week, the above indicators are positive for the next session.

Sep 2:  The Dow lost .3%, Nasdaq .1%.  Separation between groups was 3.1%.

Stocks with weak volume over the last 2 weeks were strongest today...up 1%.  Stocks that finished near their lows in the previous session fared well.  Biotechs finished with gains.

On the negative side, volatiles lost 2%.  REIT's were weak, followed closely by banks.

The above trends are slightly negative for the next session.

Sep 1:  Both the Dow and Nasdaq lost 2%.  Our own take on the market had it down 2.5%.  Separation between groups was 4.3%.

Utilities held up best, losing .8%.  Non-volatiles followed.  Stocks that closed near their lows in the previous session fared well.

Stocks with big gains in August were victimized on the first day of September...down a hefty 5.2%.  REIT's were burned.  Stocks trading well over their prime resistance levels suffered in excess of the market.  Volatiles round out the pack of losers.

The above trends are negative for the next session.

********************

We've got our data for the month of August.  Our own take on the market had it up 5.2%.

The strongest stocks by goodly margin were those with high book values relative to stock price...up a sweet 25%.  Stocks with large yearlong losses showed strong gains.  Cheap stocks and volatiles were also in the party.

We only identified a few groups with losses.  Stocks in the 60-80% bracket of yearlong gains (between -15% and +3%) did not impress. 

Aug 31:  The Dow lost .5%, Nasdaq 1%.  We had the market down 1.4%.  Separation between groups was a weak 2.5%.

We didn't identify any groups that actually gained today.  Non-volatiles held up best, losing a mere .3%.  Biotechs fared well...it's odd how this group has played the role of a "conservative investment" over the last year. 

On the weak side, stocks with a strong recent tendency to open near their highs lost 2.8%.  Yearlong losers were hurt.  Metals and mining did not impress.  Stocks with a string of losses last week dropped in excess of the market.

The above trends are negative for the next session.

Aug 28:  The Dow lost .4%, Nasdaq was flat.  Separation between groups was 2.8%.

Positive trends in the market were again largely unfocused.  Despite the weakness of the Dow, large caps tended to outperform.  Stocks with a tendency to "follow the herd" (a high "corr" value) beat the market.

On the negative side, banks were weak...down 2.2%.  Stocks with a recent tendency to close near their highs were weak.  Small caps were weak.

The above trends are slightly negative for the next session.

Aug 27:  The Dow gained .4%, Nasdaq .2%.  Separation between groups was a mere 2.4%.

The market was quite unfocused today...we didn't identify any statistically significant trends on either side of the market.  Stocks with strong gains on Monday fared well...up as much as 1.7%.  Yearlong winners outperformed.  Monthlong gainers also beat the market.

On the negative side, stocks trading well below their prime resistance levels were weak...down .7%.  Banks tended to lose money.  Stocks with weak volume on Wednesday did not impress.

The above trends are neutral as indicators for the next session.

Aug 25:  Both the Dow and Nasdaq gained .3%.  Separation between groups was 4.5%.

Stocks with big gains over the last three months were strongest today...up 3.1%.  Not surprisingly then, stocks trading well over their prime resistance levels also gained nicely.

Losing groups were dominated by industries.  Oils led the way (-1.4%), followed by banks and utilities.  Stocks trading well below their prime resistance levels were weak.

The above trends are slightly positive for the next session.

Aug 24:  The Dow was flat, Nasdaq lost .1%.  Separation between groups was 3.8%.

Volatile stocks were strongest today...up 2.5%.  Stocks with large gains over the last month continued upwards.  At the same time, those with large losses (at least 54%) over the last year also fared well.  Cheap stocks tended to gain.

On the negative side, banking interests led the way...down 1.3%. 

The above trends are positive for the next session.

Aug 21:  The Dow gained 1.7%, Nasdaq 1.6%.  We had the market up 2.3%.  Separation between groups was 3.1%.

Despite the positivity, gains were not strongly focused on any particular group.  Stocks with large, but not extreme, losses (around -45%) over the last year fared well...up 3.8%.  At the same time, stocks with strong gains over the last three months also outperformed.  Some normally dowdy industries (e.g. paper-related) showed strong gains.  Monday's big losers reversed.

We didn't identify any groups that actually lost money.  Free agents were weakest, gaining a mere .7%.  Cheap stocks did not impress, but neither did expensive stocks.  Biotechs lagged.  Stocks with large yearlong gains underperformed.

The above trends are positive for the next session.

Aug 20:  The Dow gained .8%, Nasdaq 1%.  Separation between groups was 2.9%.

REIT's were the big winners today...up 3.6%.  Monday's and Wednesday's big losers reversed. 

On the negative side, small, illiquid stocks tended to lose money...down .3%.  Stocks that closed near their highs in the previous session failed to keep the momentum.  Biotechs underperformed.

The above trends are slightly positive for the next session.

Aug 19:  Both the Dow and Nasdaq gained .7%.  Separation between groups was 3.4%.

Stocks that opened on Tuesday well below Monday's close were strongest today...up 2.6%.  Volatiles fared well.  Biotechs outperformed. 

Losers were led by REIT's...down .7%.  Large caps tended to lag. 

The above trends are positive for the next session.

Aug 18:  The Dow gained .9%, Nasdaq 1.3%.  Separation between groups was 3.7%.

Stocks with strongly negative momentum over the last week led all gainers today...up 3.9%.  At the same time, stocks with big gains over the last month also fared well.  Volatiles outperformed.

We didn't identify any groups that actually lost money today.  Non-volatiles, of course, lagged, gaining as little as .2%.  Utilities weren't far behind. 

The above trends are positive for the next session.

Aug 17:  The Dow lost 2%, Nasdaq 2.7%.  Separation between groups was 5.8%.

We didn't identify any groups that actually made money today.  Biotechs held up quite well, however...down .5%.  Non-volatiles followed.  Utilities avoided large losses.

Stocks with large gains over the last month were weakest today...down a hefty 6.3%.  Stocks with large losses over the last year were also hit hard.  Volatile stocks were punished.  Last Thursday's big winners reversed.

The above trends are negative for the next session.

Aug 14:  The Dow lost .8%, Nasdaq 1.2%.  Our own take on the market had it down 1.7%.  Separation between groups was a mere 2.7%.

We didn't identify any groups that actually gained today.  Utilities fared best, losing a mere .1%.  REIT's weren't far behind.  Free agents held up well.  Non-volatiles round out the list of outperformers.

On the negative side, stocks with heavy institutional ownership (relative to market capitalization) were weakest...down 2.9%.  Oils were punished.  Volatiles underperformed.

The above trends are negative for the next session.

Aug 13:  The Dow gained .4%, Nasdaq .5%.  Separation between groups was 3.8%.

Stocks with large yearlong losses were strongest today...up 3.1%.  Stocks that performed strongly in this time slot last year repeated.  At the same time, stocks with large gains over the last month continued upwards.  Oils and metals and mining interests outperformed.

On the negative side, one of our proprietary indicators "predicted" losses as high as .8%.  Stocks with weak volume in the previous session did not impress.  Non-volatiles were flat.

The above trends are slightly positive for the next session.

Aug 12:  The Dow gained 1.3%, Nasdaq 1.5%.  Our own take on the market had it up 1.7%.  Separation between groups was 3.7%.

The strongest stocks were moderately-small-cap...up 3.6%.  Yesterday's big losers bounced back.  Volatile stocks outperformed. 

On the negative side, one of our proprietary indicators "predicted" losses as high as .1%.  Otherwise, the smallest of small caps were weak.  Utilities did not keep up with the market.  Stocks trading well below their most prominent resistance levels did not impress.

The above trends are positive for the next session.

Aug 11:  The Dow lost 1%, Nasdaq 1.1%.  We had the market down 1.7%.  Separation between groups was 3.6%.

We didn't identify any groups that actually gained.  Utilities were strongest...down a mere .4%.  Non-volatiles held up well.  Stocks that finished near theirs lows in the previous session outperformed.

Stocks with strong momentum over the last week were weakest today...down 3.9%.  Monthlong winners followed.  Volatiles underperformed.

The above trends are negative for the next session.

Aug 10:  The Dow lost .3%, Nasdaq .4%.  We actually had the market up .1%.  Separation between groups was 5.4%.

Volatile stocks were strongest today...up 3.8%.  Stocks with large yearlong losses followed.  Cheap stocks also managed nice gains.  All these trends are indicative of a bullish, risk-tolerant market.

On the negative side, stocks exhibiting "herd behavior"...a tendency to move in conjunction with other stocks...were weakest, losing 1.5%.  Large caps suffered.  Metals and mining interests finished with losses.

The above trends are positive for the next session.

Aug 7:  The Dow gained 1.2%, Nasdaq 1.4%.  Our own take on the market had it up 2.8%!  Separation between groups was 6.5%.

Stocks with high book values (relative to stock price) were strongest...up a hefty 7.1%.  Such book values are often found amongst banks and REIT's, so it's not surprising to see these industries faring well.  Stocks with large yearlong losses or large monthlong gains outperformed.  Tuesday's big gainers were particularly strong.

We didn't identify any groups that actually lost money.  Non-volatiles lagged...up a mere .7%.  Stocks with strong yearlong performances (gaining at least 45%) did not impress.  Biotechs and oils were also included in the list of underachievers.

The above trends are positive as indicators of the next session's direction.

Aug 6:  The Dow lost .3%, Nasdaq 1%.  Separation between groups was 4.4%.

Stocks with big losses over the last three months were strongest today...up .8%.  Yesterday's winners finished with small gains. 

On the negative side, stocks trading well over their prominent resistance levels were weakest...down as much as 3.6%.  Not surprisingly, then, stocks with large gains over the last quarter to year were also weak.  Volatile stocks lost in excess of the market.

Bearing in mind that Friday tends to reverse the trends of the previous four days, the above trends are negative as indicators of the market's direction.

Aug 5:  The Dow lost .4%, Nasdaq .9%.  Separation between groups was 6.4%.

Despite the general losses, some groups showed fairly hefty gains.  REIT's were strongest today...up 4.3%.  Not surprisingly, then, yearlong losers gained nicely.  Cheap stocks and volatiles finished on the positive side.  Stocks with heavy volume in the previous session outperformed.

On the negative side, stocks with big gains (between 40 and 48%) over the last three months were weakest...down 2.1%.  Biotechs faltered.  Stocks with weak volume in the previous session underperformed the market.

The above trends are slightly positive for the next session.

Aug 4:  The Dow gained .4%, Nasdaq .1%.  Our own take on the market had it up 1.2%.  Separation between groups was 5.5%.

REIT's were clearly the big winners today...up 5%.  Volatiles again outperformed.  Given the large losses in REIT's over the last year, it's not surprising to see that yearlong losers also performed well. 

On the negative side, stocks with a historical tendency to lose money in this time slot were weakest...down as much as .6%.  Utilities and oils did not impress.  Large caps underperformed.

The above trends are positive for the next session.

Aug 3:  The Dow gained 1.3%, Nasdaq 1.5%.  Our own take on the market had it up 2%.  Separation between groups was 6%.

Stocks with large yearlong losses were strongest today...up 6.4%.  Volatiles outperformed.  Last Friday's big gainers continued upward.  Oils gained nicely.

We didn't identify any groups that actually lost money.  Not surprisingly, non-volatiles finished near the top of our list of "losers", gaining as little as .5%.  Biotechs lagged. 

The above trends are positive as indicators of the next session.

Aug 1 (Sat):  We've got our data for the month of July.  Our own take on the market had it up an impressive 10%.

Stocks that opened the month trading between $2.00 and $2.85 were strongest...up 22%.  Those trading well over their most prominent resistance levels fared well.  Volatiles were strong.  Stocks with large losses in June (at least 18%) erased the losses.

We didn't identify any groups that actually lost money.  Banks were weakest, gaining as little as 1.8%.  Expensive stocks did not impress.  Stocks with big yearlong gains (at least 49%) underperformed...a slightly odd result, since yearlong winners usually correlate strongly with stocks trading over resistance levels.  Non-volatiles failed to partake in the big upward move.

July 31:  The Dow gained .2%, Nasdaq lost .3%.  Separation between groups was 4.1%.

Stocks with a high book value relative to stock price were strongest today...up 2.4%.  Cheap stocks and volatiles beat the market by a hefty gap.  Yesterday's winners continued upward, while yearlong losers did the same.

On the negative side, nothing of great significance emerged.  Biotechs continued to underperform...down 1.4%.  Stocks with large increases in volume over the last couple of weeks tended toward weakness.  Stocks with strength over the last year tended to lose money.

The above trends are positive for the next session.

July 30:  The Dow gained .9%, Nasdaq .8%.  Our own take on the market had it up 1.8%.  Separation between groups was 4.1%.

Stocks with a strong recent tendency to close near their highs led all other groups today...up 4.2%.  Yearlong losers performed well.  Stocks that have shown weakness over the last week also gained nicely.

We didn't identify any groups that actually lost money today.  Biotechs did not impress, gaining a mere .2%.  Naturally, non-volatiles lagged.  Expensive stocks underperformed.

Bearing in mind that Fridays often reverse the trends of the previous four days, the above trends are positive for the general market.

July 29:  The Dow lost .3%, Nasdaq .4%.  Our own take on the market had it down .8%.  Separation between groups was 3.7%.

Free agents were strongest today, gaining as much as .5%.  Health care and biotech companies fared well.   Non volatiles showed negligible losses.

On the losing side, oils were weakest...down 3.2%.  Metals and mining stocks followed.  Stocks with big three month gains were weak. 

The above trends are slightly negative for the next session.

July 28:  The Dow lost .1%, Nasdaq gained .4%.  Separation between groups was 3.8%.

Stocks trading well below their major resistance levels were strongest today...up 1.9%.  Volatiles outperformed.  Banks beat the market.  Stocks that were weak in this time slot last year performed well.

On the negative side, losses were strongly focused on oils...down 1.8%. 

The above trends are positive for the next session.

July 27:  The Dow gained .2%, Nasdaq was flat.  Our own take on the market had it up .8%.  Separation between groups was 4.7%.

Stocks with low p/e ratios were strongest today...up 4.2%.  Stocks trading well under their 100 day averages weren't far behind.  Volatiles gained nicely.  Stocks with a strong recent trend to gain in the afterhours fared well.  Banks and insurers outperformed.

Trends were not strongly focused on the negative end of the market.  Oils lagged.

The above trends are positive for the next session.

July 24:  The Dow gained .3%, Nasdaq lost .4%.  Our own take on the market had it up .8%.  Separation between groups was 3.4%.

Stocks with high "inertia" (a strong tendency to "plateau" at resistance points) were strongest today...up 3.1%.  Stocks with large yearlong or monthlong losses fared well.  Biotechs were strong.  Volatiles round out the list of big gainers.

Again, trends on the negative end of the market were unfocused.  Moderately-small caps topped our list with .3% losses.  Insurers tended to finish with small losses.  Stocks with strong yearlong gains underperformed.

The above trends are positive for the next session.

July 23:  The Dow gained 2.1%, Nasdaq 2.4%.  Our own take on the market had it up 3%.  Separation between groups was 4.6%.

Stocks with high recent volatility were strongest today...up a sweet 5.8%.  Surprisingly, a number of heavy industries (e.g. furniture, paper products) managed some large gains.  Stocks with large yearlong losses outperformed.

We didn't identify any groups that actually lost money.  Action on the weak side of the market was unfocused.  Non-volatiles were weak, gaining as little as 1.3%.  Tech stocks actually lagged. 

Bearing in mind that Fridays often reverse the trends of the previous four days, the above trends are positive for the next session.

July 22:  The Dow lost .4%, Nasdaq gained .5%.  Our own take on the market had it up .7%.  Separation between groups increased...6%.

Stocks held by large number of institutions (after adjusting for market cap) were strongest today...up a big 5.1%.  Volatile stocks reversed yesterday's negativity.  Cheap stocks and yearlong losers fared well.

On the negative side, oils finished with losses...down .9%.  Expensive stocks lost money, as the Dow's performance would tend to indicate. 

The above trends are positive for the next session.

July 21:  The Dow gained .8%, Nasdaq .4%.  We actually had the market down .3%.  Separation between groups was 4.6%.

No significant trends emerged on the positive side of the market.  The strongest stocks were those with tiny, non-zero, dividends...up as much as 1.3%.  Biotechs fared well. 

The negative end of the market was strongly focused, however, with banks losing around 3.3%.  Stocks with large 3 month losses continued to suffer.  Volatile stocks declined...a somewhat ominous sign. 

The above trends are negative as indicators for the next session.

July 20:  Both the Dow and Nasdaq gained 1.2%.  Separation between groups was 3.5%.

Stocks that closed well below their highs on Friday were strongest today...up 3.6%.  Last Thursday's big gainers repeated.  Volatile stocks and yearlong losers were also included amongst outperformers. 

On the weak side, stocks with large losses last Wednesday gained a mere .1%.  Insurance and utility issues lagged.  Non-volatiles couldn't keep up with the market.

The above trends are positive for the next session.

July 17:  The Dow gained .4%, Nasdaq .1%.  Our own take on the market actually had it down .5%.  Separation between groups was 4.3%.

Volatile stocks were strongest today...up 1.4%.  Stocks with strong yearlong gains followed. 

On the negative side, banks were easily the biggest losers...down 2.9%.  REIT's were also quite weak.  Stocks paying large dividends (mostly banks and REIT's) underperformed by a good margin.

The above trends are slightly positive for the next session.

July 16:  The Dow gained 1.1%, Nasdaq 1.2%.  Separation between groups was 3.2%.

Metals and mining stocks were strongest today...up 2.8%.  Stocks trading well over their prime resistance levels fared well.  Stocks with a history of losses in this time slot outperformed.

On the negative side, stocks with large 3 month losses continued downward...-0.4%.  Interestingly, volatile stocks underperformed.  Yesterday's losers lost again.  Banks and insurers lagged.

The above trends are neutral for tomorrow's session...we're not thrilled at finding volatiles in the losing column.  What's more, Friday has a tendency to reverse the trends of the week.

July 15:  The Dow gained 3.1%, Nasdaq 3.5%.  Our own take on the market had it up 4%.  Separation between groups was 7.7%.

Stocks with a strong recent trend toward gains in the afterhours showed the most powerful gains...up 9.3%.  Volatile stocks fared well, not surprisingly.  Those with large losses (at least 27%) over the last month reversed in a big way. 

We didn't identify any groups that actually lost money.  The weakest stocks were simply the least volatile, gaining as little as 1.6%.  Expensive stocks lagged.  Those with strong performances over the last year were also weak.

The above trends are positive for the next session.

July 14:  The Dow gained .3%, Nasdaq .4%.  Separation between groups was 3.6%. 

Stocks trading well over their prime resistance levels were strongest today...up 2.3%.  At the same time, stocks with large yearlong losses also outperformed.  Oils gained in excess of the market. 

On the negative side, banks and insurers were weak, dropping as much as 1.3%.  Yesterday's big gainers reversed.  Non-volatiles were flat.

The above trends are positive for the next session.

July 13:  The Dow gained 2.3%, Nasdaq 2.1%.  Separation between groups was 3.4%.

Banks were strongest today...up 4.7%.  REIT's fared well as well.  Stocks that took large hits last week tended to reverse in a substantial way.  Yearlong losers outperformed.

We didn't identify any groups that actually lost money today.  The weakest stocks were small and illiquid issues, gaining as little as 1.2%.  Non-volatiles underperformed.  Technology stocks did not impress.  Stocks with strong performances last week lagged.

The above trends are positive for the next session.

July 10:  The Dow lost .4%, Nasdaq gained .2%.  Separation between groups was a meager 2.9%.

No strong trends emerged on the positive side of the market.  Stocks with short term averages well above their long term averages fared well...up 1.3%.  Yesterday's losers outperformed. 

On the negative side, stocks with large yearlong losses continued to falter...down 1.4%.  One month losers were also weak.  Large caps did not impress.  Volatiles underperformed.

The above trends are negative as indicators for the next session.

July 9:  The Dow gained .1%, Nasdaq .3%.  Separation between groups was 4.3%.

Stocks whose 5 day averages are well below their 20 days averages were strongest today...up 2.9%.  Not surprisingly, then, stocks with large one month losses followed.  Oils reversed recent weakness.  Yearlong losers outperformed.  Volatile stocks were also included in the mix.

On the negative side, stocks with solid performances over the last month were weak...down as much as 1.2%.  REIT's underperformed.

Bearing in mind that Friday often reverses the trends of the week, the above trends are slightly positive. 

July 8:  The Dow gained .2%, Nasdaq .1%.  Our own take on the market had it down 1%.  Separation between groups was 4.8%.

Nothing of great significance emerged on the positive side of the market.  Some normally dowdy industries (e.g. retails, heavy industry) gained as much as .6%.  Non-volatiles finished with small gains. 

Losers were led by volatiles...down 4.1%.  Stocks with large losses over the last week continued downward.  Those with big gains over the last 3 months faltered, alongside those with big losses over the last year. 

The above trends are negative for the next session.

July 7:  The Dow lost 1.9%, Nasdaq 2.3%.  Separation between groups was 3.6%.

We didn't identify any groups that actually made money today.  The best stocks were those that closed near their lows in the previous session...down .6%.  Biotechs and healthcare stocks avoided large losses.  Non-volatiles outperformed.

On the negative side, stocks whose Tuesday open was well above Monday's close led the way...down 4.2%.  Yearlong losers fared poorly again.  REIT's were hurt.  Volatiles round out the list.

The above trends are negative as indicators of the next session.

July 6:  The Dow gained .5%, Nasdaq lost .5%.  Separation between groups was 6.1%.

REIT's were strongest today...up 2.6%.  Non-volatiles were surprisingly strong.  Banks also gained nicely. 

On the negative side, volatiles lost as much as 3.6%.  Stocks with large losses over a span of a month to a year continued dropping.  Oils and metals and mining were weak.

The above trends are negative for the next session.

July 2:  The Dow lost 2.6%, Nasdaq 2.7%.  Our own take on the market had it down 3.9%.  Separation between groups was 3.9%...stocks moved in herd-like fashion.

We didn't identify any groups that finished the session with gains.  Free agents were strongest, losing 1.9%.  The smallest of small caps held up well.  Biotechs outperformed.  Non-volatiles, of course, resisted major losses.

On the negative side, REIT's led the pack...down 5.8%.  Stocks with large losses in Monday's session repeated.  Volatiles were hit hard.  Stocks with large yearlong losses were also weak.

The above trends are negative for the next session.

********************

We've got our data for the second quarter.  Our take on the general market had it up a very impressive 30.5%.

The 30.5% pales in comparison to the performance of a few groups of stocks.  Our list of winners was led by the 4% of stocks that entered the quarter with the largest yearlong losses...up a massive 118%!  Volatile stocks nearly doubled.

We didn't identify any groups that actually lost money.  Banks were quite unimpressive, however, gaining as little as 2.5%.  Considering that banks figure prominently on lists of yearlong losers, we took a moment to remove them from the aforementioned 4% of stocks...in that case, the second quarter gains of the group balloon up to 138%!  Non-volatiles, not surprisingly, were weak.  Stocks with strong yearlong performances failed to partake in second quarter gains.

July 1:  The Dow gained .7%, Nasdaq .6%.  Our own take on the market had it up 1.7%.  Separation between groups was 4.5%.

Stocks that closed well below their highs in the previous session were strongest today...up 4.4%.  Last Friday's big winners won again.  Small caps outperformed.

We only identified one group that finished in negativity territory today...stocks with heavy market capitalization lost .1%.  Expensive stocks were weak.  Biotechs, one of June's strongest groups, did not impress. 

The above trends are positive for the next session.

*****************

We've got our data for the month of June.  Our own take on the market had it up .6%.

Free agents topped our list of June's winningest stocks...up 8.8%.  Biotechs quietly had a strong month.  On a risk-adjusted basis, non-volatiles fared well.

On the negative side, oils were clearly the big losers...down 9.2%.  Banks fared poorly.  Stocks that fared well in the previous June were weak this time around.  Yearlong losers continued to suffer. 

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