Chart Speed Test - Yardeni Research · Chart Speed Test Yardeni Research, Inc. January 16, 2012 Dr....
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Chart Speed Test Yardeni Research, Inc. January 16, 2012 Dr. Edward Yardeni 516-972-7683 [email protected] Mali Quintana 480-664-1333 [email protected] Please visit our sites at www.yardeni.com blog.yardeni.com thinking outside the box
Transcript of Chart Speed Test - Yardeni Research · Chart Speed Test Yardeni Research, Inc. January 16, 2012 Dr....
Chart Speed Test
Yardeni Research, Inc.
January 16, 2012
Dr. Edward Yardeni516-972-7683
Mali Quintana480-664-1333
Please visit our sites at
www.yardeni.com
blog.yardeni.com
thinking outside the box
Table Of Contents Table Of ContentsTable Of Contents
January 16, 2012 / Chart Speed Test www.yardeni.com
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MSCI Indexes 1-2Global Stock Markets: OECD (ytd) 3Global Stock Markets Emerging Markets (ytd) 4Stock Markets: USA 5Stock Markets: Americas 6Stock Markets: Europe 7Stock Markets: Europe (cont) 8Stock Markets: Asia 9-10Stock Markets: Russia, Eastern Europe, Middle East 11Stock Markets: Africa 12Dow Theory 13Technology Heavy Stock Markets 14Commodity Heavy Stock Markets 15Capital Goods Heavy Stock Markets 16US$ Forex Rates: Europe 17Trade-Weighted Dollar 18US$ Forex Rates: Asia 19US$ Forex Rates: Americas 2010-Year Government Yields 21Commodity Prices 22Commodity Prices (cont) 23-24Commodities (ytd) 25Stock Market vs. Crude Oil & Copper Prices 26Trade-Weighted Dollar 27S&P 500 28Bank Stocks 29S&P 1500/500/400/600 (ytd) 30S&P 500: Consumer Discretionary 31S&P 500: Consumer Discretionary (cont) 32-33S&P 500: Consumer Discretionary Retailers 34S&P 500: Consumer Staples 35S&P 500: Consumer Staples (cont) 36S&P 500: Energy 37S&P 500: Financials 38S&P 500: Financials (cont) 39S&P 500: Health Care 40S&P 500: Health Care (cont) 41S&P 500: Industrials 42
continued...
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S&P 500: Industrials (cont) 43-44S&P 500: Information Technology 45S&P 500: Information Technology (cont) 46S&P 500: Materials 47S&P 500: Materials (cont) 48S&P 500: Telecommunication Services 49S&P 500: Utilities 50
Figure 1.
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013500
600
700
800
900
1000
1100
1200
1300
1400
500
600
700
800
900
1000
1100
1200
1300
1400
1/13
SHARE PRICE INDEXES(ratio scale)
World
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013600
800
1000
1200
1400
1600
1800
600
800
1000
1200
1400
1600
1800
1/16
Europe
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013500
700
900
1100
1300
500
700
900
1100
1300
1/16
EAFE*
200-day moving average
Source: Morgan Stanley Capital International.* Europe, Australia, and Far East.
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- MSCI Indexes -
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Figure 2.
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 201310000
20000
30000
40000
50000
60000
10000
20000
30000
40000
50000
60000
1/13
SHARE PRICE INDEXES(ratio scale)
Emerging Markets
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013100
300
500
700
900
100
300
500
700
900
1/16Emerging Markets:Asia
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013600
3200
5800
8400
11000
600
3200
5800
8400
11000
1/13Emerging Markets:Latin America
Source: Morgan Stanley Capital International.200-day moving average
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- MSCI Indexes -
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0
1
2
3
4
2.4
Figure 3.
AUSTRALIA(All Ordinaries)
-10
-8
-6
-4
-2
0
2
4
-4.5
GREECE(Athens, SE)
-4
-2
0
2
4
-1.4
SPAIN(Madrid General Index)
0
1
2
3
2.5
CANADA(Toronto 300)
-1
0
1
2
3
1.2
IRELAND(ISEQ Overall)
0
1
2
3
4
3.5
SWEDEN(AffarsvardnGen)
-.5
.0
.5
1.0
1.5
1.0
CHILE(IGPA General)
0
1
2
3
4
2.8
ISRAEL(Tel Aviv 100)
.0
.5
1.0
1.5
2.0
2.5
1.6
SWITZERLAND(SMI)
-3
-2
-1
0
1
2
3
-1.7
CZECH REPUBLIC(PX50)
-6
-4
-2
0
2
4
.9
ITALY(FTSE MIB)
-3
-2
-1
0
1
2
3
4
3.0
TURKEY(IMKB National 100)
-2
-1
0
1
2
3
2.1
FRANCE(CAC 40)
-2
-1
0
1
-.4
MEXICO(Bolsa)
0
1
2
3
1.5
UNITED KINGDOM(FTSE 100)
0
1
2
3
4
5
65.5
GERMANY(DAX)
Source: Haver Analytics.2012
-2
-1
0
1
2
.2
NETHERLANDS(Amsterdam)
2012
0
1
2
3
4
2.5
UNITED STATES(S&P 500 Index)
2012
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0
5
10
15
20
11.9
Figure 4.
ARGENTINA(Merval)
-1
0
1
2
3
4
2.3
INDONESIA(Jakarta)
0
1
2
3
4
5
6
4.2
SINGAPORE(Straits Times)
0
1
2
3
4
54.7BRAZIL
(Bovespa)
-2.0
-1.5
-1.0
-.5
.0
.5
1.0
-1.4
MALAYSIA(Kuala Lumpur)
0
1
2
3
1.8
SOUTH KOREA(Kospi)
-4
-3
-2
-1
0
1
2
3
4
5
-.5
CHINA(Dow Jones Shanghai Composite)
-4
-3
-2
-1
0
1
-2.1
PAKISTAN(Karachi)
-2
-1
0
1
2
.4
TAIWAN(TWSE)
-1
0
1
2
3
4
5
6
5.0
EGYPT(Cairo Case 30)
0
2
4
6
8
5.7
PERU(Lima)
0
1
2
3
1.1
THAILAND(Bangkok)
0
1
2
3
4
5
3.1
HONG KONG(Hang Seng)
0
2
4
6
8
4.4
THE PHILIPPINES(Manila)
-1.5
-1.0
-.5
.0
.5
1.0
.4
VENEZUELA(IBC)
0
1
2
3
4
54.8INDIA
(Bombay Sensex)
2012Source: Haver Analytics.
0
2
4
6
8
5.3
RUSSIA
2012
(RTS)
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- Global Stock Markets Emerging Markets (ytd) -
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Figure 5.
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 145100
7100
9100
11100
13100
15100
17100
1/13
DOW JONES INDUSTRIALS
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14800120016002000240028003200360040004400480052005600
1/13
NASDAQ
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14500
700
900
1100
1300
1500
1700
1/13
S&P 500
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14275
350
425
500
575
650
725
800
875
950
1/13
RUSSELL 2000
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 146000
7000
8000
9000
10000
11000
12000
13000
14000
15000
16000
17000
1/13
WILSHIRE 5000
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14125
150
175
200
225
250
275
300
325
350
375
1/13S&P 500 TRANSPORTATION
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 144000
5000
6000
7000
8000
9000
10000
11000
1/13
NEW YORK STOCK EXCHANGE
200-day moving average
Source: Reuters America, Inc and Standard and Poor’s Corporation.
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1450
100
150
200
250
1/13
S&P 500 UTILITIES
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- Stock Markets: USA -
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Figure 6.
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 146000
8000
10000
12000
14000
16000
1/13
UNITED STATES(Dow JonesIndustrials)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14100
500
900
1300
1700
2100
2500
2900
3300
3700
4100
1/16
ARGENTINA(Merval)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 144000
6000
8000
10000
12000
14000
16000
1/16
CANADA(Toronto 300)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 142500
4500
6500
8500
10500
12500
14500
16500
18500
20500
22500
24500
1/16
CHILE(IGPA General)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 142000
6000
10000
14000
18000
22000
26000
30000
34000
38000
42000
1/16MEXICO(Bolsa)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 141000
15000
29000
43000
57000
71000
85000
99000
113000
1270001/16VENEZUELA
(IBC)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 143000
11000
19000
27000
35000
43000
51000
59000
67000
75000
83000
1/16
BRAZIL(Bovespa)
200-day moving average
Source: Reuters America, Inc.
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 148002800480068008800108001280014800168001880020800228002480026800
1/16
PERU(Lima)
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- Stock Markets: Americas -
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Figure 7.
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 141000
2000
3000
4000
5000
6000
7000
1/16
EUROPE(Dow Jones Stoxx 50)(euro-based)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 141000
2000
3000
4000
5000
6000
7000
8000
9000
10000
11000
1/16
IRELAND(ISEQ Overall)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 141500
2500
3500
4500
5500
6500
7500
8500
1/16
FRANCE(CAC 40)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1410000
15000
20000
25000
30000
35000
40000
45000
50000
1/16
ITALY(FTSE MIB)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 142000
4000
6000
8000
10000
1/16
GERMANY(DAX)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14150
250
350
450
550
650
750
850
1/16
NETHERLANDS(Amsterdam)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 140
1000
2000
3000
4000
5000
6000
7000
8000
1/16
GREECE(Athens, SE)
200-day moving average
Source: Reuters America, Inc.
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14500
1000
1500
2000
1/16
SPAIN(Madrid General Index)
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Figure 8.
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013100
150
200
250
300
350
400
450
500
100
150
200
250
300
350
400
450
500
1/16
SWEDEN(AffarsvardnGen)
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 20133500
4500
5500
6500
7500
8500
9500
10500
3500
4500
5500
6500
7500
8500
9500
10500
1/16
SWITZERLAND(SMI)
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 20133000
3500
4000
4500
5000
5500
6000
6500
7000
7500
8000
3000
3500
4000
4500
5000
5500
6000
6500
7000
7500
8000
1/16
UNITED KINGDOM(FTSE 100)
200-day moving averageSource: Reuters America, Inc.
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Figure 9.
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 142200
2800
3400
4000
4600
5200
5800
6400
7000
7600
1/16
AUSTRALIA(All Ordinaries)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 140
1000
2000
3000
4000
5000
6000
1/16
CHINA(Shanghai-Shenzhen 300(12/31/2004=1000))
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 146000
9000
12000
15000
18000
21000
24000
1/16
JAPAN(Nikkei)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 146000
10000
14000
18000
22000
26000
30000
34000
1/16
HONG KONG(Hang Seng)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14200
400
600
800
1000
1200
1400
1600
1800
2000
2200
2400
1/16
SOUTH KOREA(Kospi)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 142000
4000
6000
8000
10000
12000
1/16
TAIWAN(TWSE)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14700
100013001600190022002500280031003400370040004300
1/16
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SINGAPORE(Straits Times)
Source: Reuters America, Inc.
200-day moving average
- Stock Markets: Asia -
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Figure 10.
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14200
600
1000
1400
1800
2200
2600
3000
3400
3800
4200
4600
1/16
INDONESIA(Jakarta)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14500
1000
1500
2000
2500
3000
3500
4000
4500
5000
1/16THE PHILIPPINES(Manila)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14200
400
600
800
1000
1200
1400
1600
1800
1/16
MALAYSIA(Kuala Lumpur)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 140
2000
4000
6000
8000
10000
12000
14000
16000
18000
20000
22000
1/16
INDIA(Bombay Sensex)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14100
300
500
700
900
1100
1300
1/16
THAILAND(Bangkok)
Source: Reuters America, Inc.
200-day moving average
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 140
2000
4000
6000
8000
10000
12000
14000
16000
18000
1/16
PAKISTAN(Karachi)
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Figure 11.
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 140
1000
2000
3000
1/16
RUSSIA(RTS)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 140
100
200
300
400
500
600
1/16
SLOVAKIA(SAX)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14500
1000
1500
2000
2500
3000
3500
4000
4500
1/16
POLAND(WIG20)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1420030040050060070080090010001100120013001400
1/16
ISRAEL(Tel Aviv 100)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 140
5000
10000
15000
20000
25000
30000
35000
1/16
HUNGARY(BUX)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 140
10000
20000
30000
40000
50000
60000
70000
80000
1/16
TURKEY(IMKB National 100)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 140
200
400
600
800
1000
1200
1400
1600
1800
2000
2200
1/16
CZECH REPUBLIC(PX50)
200-day moving averageSource: Financial Times and Haver Analytics.
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 142000
4000
6000
8000
10000
12000
1/16
EGYPT(Cairo Case 30)
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Figure 12.
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 140
20000
40000
60000
80000
1/16
NIGERIA(SE All Share)
200-day moving averageSource: Financial Times and Haver Analytics.
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98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 145000
10000
15000
20000
25000
30000
35000
40000
1/16
SOUTH AFRICA(FTSE/JSE All Share)
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- Stock Markets: Africa -
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1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 20121500
2000
2500
3000
3500
4000
4500
5000
5500
6000
5000
6000
7000
8000
9000
10000
11000
12000
13000
14000
15000
1/13
DOW JONES STOCK AVERAGES
Industrials (DJIA)
Transportation (DJTA)
Source: The Wall Street Journal.
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Figure 13.
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012100
150
200
250
300
350
400
800
900
1000
1100
1200
1300
1400
1500
1600
1700
1800
1900
2000
1/13
S&P STOCK INDEXES
Industrials Composite
Transportation Composite
Source: Standard & Poors.
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Figure 14.
- Dow Theory -
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Figure 15.
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013800
1600
2400
3200
4000
4800
5600
800
1600
2400
3200
4000
4800
5600
1/13
NASDAQ
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 20132000
4000
6000
8000
10000
12000
2000
4000
6000
8000
10000
12000
1/16
TAIWAN(TWSE)
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013700100013001600190022002500280031003400370040004300
700100013001600190022002500280031003400370040004300
1/16
SINGAPORE(Straits Times)
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013200
300
400
500
600
700
800
900
1000
1100
1200
1300
200
300
400
500
600
700
800
900
1000
1100
1200
1300
1/16
ISRAEL(Tel Aviv 100)
200-day moving average
Source: Haver Analytics.
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- Technology Heavy Stock Markets -
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Figure 16.
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 201322002600300034003800420046005000540058006200660070007400
22002600300034003800420046005000540058006200660070007400
1/16
AUSTRALIA(All Ordinaries)
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 20134000
6000
8000
10000
12000
14000
16000
4000
6000
8000
10000
12000
14000
16000
1/16
CANADA(Toronto 300)
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013200
600
1000
1400
1800
2200
2600
3000
3400
3800
4200
4600
200
600
1000
1400
1800
2200
2600
3000
3400
3800
4200
4600
1/16
INDONESIA(Jakarta)
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 20130
10000
20000
30000
40000
0
10000
20000
30000
40000
1/16
SOUTH AFRICA(FTSE/JSE All Share)
200-day moving average
Source: Haver Analytics.
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- Commodity Heavy Stock Markets -
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Figure 17.
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013100
150
200
250
300
350
400
100
150
200
250
300
350
400
1/13
S&P 500 INDUSTRIALS
yardeni.com
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 20132000
3000
4000
5000
6000
7000
8000
9000
2000
3000
4000
5000
6000
7000
8000
9000
1/16
GERMANY(DAX)
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013200
400
600
800
1000
1200
1400
1600
1800
2000
2200
2400
200
400
600
800
1000
1200
1400
1600
1800
2000
2200
2400
1/16
SOUTH KOREA(Kospi)
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013100
150
200
250
300
350
400
450
500
100
150
200
250
300
350
400
450
500
1/16
SWEDEN(AffarsvardnGen)
yardeni.com
200-day moving average
Source: Haver Analytics.
- Capital Goods Heavy Stock Markets -
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Figure 18.
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013.8
.9
1.0
1.1
1.2
1.3
1.4
1.5
1.6
1.7
.8
.9
1.0
1.1
1.2
1.3
1.4
1.5
1.6
1.7
1/16
EUROPE($/Euro)
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 20131.3
1.5
1.7
1.9
2.1
2.3
1.3
1.5
1.7
1.9
2.1
2.3
1/16
UNITED KINGDOM($/Pound)
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 201311.5
10.5
9.5
8.5
7.5
6.5
5.5
4.5
11.5
10.5
9.5
8.5
7.5
6.5
5.5
4.5
1/16
SWEDEN(Krona/$)
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 20132.0
1.8
1.6
1.4
1.2
1.0
.8
.6
.4
2.0
1.8
1.6
1.4
1.2
1.0
.8
.6
.4
1/16
SWITZERLAND(Swiss Franc/$)
____200-day moving average
Source: Haver Analytics.
yardeni.com
- US$ Forex Rates: Europe -
Page 17 / January 16, 2012 / Chart Speed Test www.yardeni.com
Yardeni Research, Inc.
2005 2006 2007 2008 2009 2010 2011 2012 201390
95
100
105
110
115
120
90
95
100
105
110
115
120
1/6
BROAD TRADE-WEIGHTED DOLLAR INDEX*
200-day moving average* Broad index is a weighted average of the foreign exchange rates of the US dollar against the Euro Area, Canada, Japan, Mexico, China, UK, Taiwan,
Korea, Singapore, Hong Kong, Malaysia, Brazil, Switzerland, Thailand, Philippines, Australia, Indonesia, India, Israel, Saudi Arabia, Russia, Sweden,Argentina, Venezuela, Chile, and Columbia.Source: Source: Board of Governors of the Federal Reserve System.
yardeni.com
Figure 19.
2005 2006 2007 2008 2009 2010 2011 2012 201365
70
75
80
85
90
65
70
75
80
85
90
1/6
MAJOR TRADE-WEIGHTED DOLLAR INDEX*
200-day moving average* Major index countries whose currencies are included are the Euro Area, Canada, Japan, United Kingdom, Switzerland, Australia, and Sweden. The
Euro Area includes Germany, France, Italy, Netherlands, Belgium/Luxembourg, Ireland, Spain, Austria, Finland, Portugal, and Greece.Source: Board of Governors of the Federal Reserve System.
yardeni.com
Figure 20.
- Trade-Weighted Dollar -
Page 18 / January 16, 2012 / Chart Speed Test www.yardeni.com
Yardeni Research, Inc.
Figure 21.
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14160
140
120
100
80
60
1/16
JAPAN(Yen/$)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 148.4
8.0
7.6
7.2
6.8
6.4
6.0
1/13CHINA(Yuan/$)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 142.2
2.0
1.8
1.6
1.4
1.2
1.0
.8
1/16AUSTRALIA(inverted scale, A$/US$)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 146
5
4
3
2
1/13
MALAYSIA(Ringgit/$)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 142000
1800
1600
1400
1200
1000
800
1/13
SOUTH KOREA(Won/$)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1418000
16000
14000
12000
10000
8000
6000
4000
2000
0
1/16
INDONESIA(Rupiah/$)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 141.9
1.8
1.7
1.6
1.5
1.4
1.3
1.2
1.1
1/13
SINGAPORE(S$/US$)
200-day moving averageSource: Morgan Stanley Capital International.
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1460
55
50
45
40
35
30
25
1/16
THAILAND(Baht/$)
yardeni.com
- US$ Forex Rates: Asia -
Page 19 / January 16, 2012 / Chart Speed Test www.yardeni.com
Yardeni Research, Inc.
Figure 22.
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 141.7
1.6
1.5
1.4
1.3
1.2
1.1
1.0
.9
.8
1/13
CANADA(C$/US$)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1416
15
14
13
12
11
10
9
8
7
6
1/13
MEXICO(Peso/$)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 144.6
4.1
3.6
3.1
2.6
2.1
1.6
1.1
.6
.1
1/13
BRAZIL(Real/$)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 142.5
3.0
3.5
4.0
4.5
1/16ARGENTINA(Peso/$)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14800
750
700
650
600
550
500
450
400
350
300
1/13
CHILE(Peso/$)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 140
1
2
3
4
5
1/13VENEZUELA(Bolivar/$)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 143200
2800
2400
2000
1600
1200
800
400
1/13
COLOMBIA(Peso/$)
200-day moving average
Source: Morgan Stanley Capital International.
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 143.8
3.6
3.4
3.2
3.0
2.8
2.6
2.4
2.2
1/13
PERU(New Sol/$)
yardeni.com
- US$ Forex Rates: Americas -
Page 20 / January 16, 2012 / Chart Speed Test www.yardeni.com
Yardeni Research, Inc.
Figure 23.
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 141.5
2.0
2.5
3.0
3.5
4.0
4.5
5.0
5.5
6.0
6.5
7.0
7.5
1/13
UNITED STATES
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 141.5
2.0
2.5
3.0
3.5
4.0
4.5
5.0
5.5
6.0
1/16
GERMANY
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 141.5
2.5
3.5
4.5
5.5
6.5
7.5
1/13
CANADA
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 141.0
1.5
2.0
2.5
3.0
3.5
4.0
4.5
5.0
5.5
1/16
SWEDEN
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 141.0
1.5
2.0
2.5
3.0
3.5
4.0
4.5
5.0
5.5
6.0
6.5
7.0
7.5
1/12
UNITED KINGDOM
200 day moving average
Source: MMS International and Haver Analytics.
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14.0
.5
1.0
1.5
2.0
2.5
3.0
1/16
JAPAN
yardeni.com
- 10-Year Government Yields -
Page 21 / January 16, 2012 / Chart Speed Test www.yardeni.com
Yardeni Research, Inc.
Figure 24.
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14175200225250275300325350375400425450475500
1/13
CRB FUTURES PRICE INDEX(1967=100)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14.2
.6
1.0
1.4
1.8
2.2
2.6
3.0
3.4
3.8
4.2
4.6
1/13
HEATING OIL FUTURES PRICE*(dollar per gallon)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14150
250
350
450
550
650
750
850
950
1050
1150
1/13
CRB SPOT PRICE INDEXES(1967=100)
Raw Industrials
Metals
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 141
3
5
7
9
11
13
15
17
1/13
NATURAL GAS FUTURES PRICE*(dollar per MMBTU)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1410
30
50
70
90
110
130
150
170
1/13
LIGHT CRUDE OIL FUTURES PRICE*(dollars per barrel)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14.3
.9
1.5
2.1
2.7
3.3
3.9
4.5
1/13
GASOLINE FUTURES PRICE*(dollars per gallon)
* Nearby contract.Source: Haver Analytics.
200-day moving average
yardeni.com
- Commodity Prices -
Page 22 / January 16, 2012 / Chart Speed Test www.yardeni.com
Yardeni Research, Inc.
Figure 25.
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14100
300
500
700
900
1100
1300
1/13
CRB SPOT PRICE INDEX: METALS(daily, 1967=100)
Includes copper scrap,lead scrap, steel scrap,tin, and zinc
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 140
1000
2000
3000
4000
5000
1/13
STAINLESS STEEL SCRAP(dollars per gr. ton)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14100
200
300
400
500
1/13
COPPER FUTURES PRICE*(dollars per pound)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 140
500
1000
1500
2000
2500
1/10
TIN(cents per pound)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 140
50
100
150
200
250
1/10
LEAD, RN NA SOLDER(cents per pound)
200-day moving average* Nearby contract.Source: Haver Analytics.
yardeni.com
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1430
50
70
90
110
130
150
170
190
210
230
1/13
ZINC(cents per pound)
- Commodity Prices (cont) -
Page 23 / January 16, 2012 / Chart Speed Test www.yardeni.com
Yardeni Research, Inc.
Figure 26.
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14225
400
575
750
925
1100
1275
1450
1625
1800
1975
1/13
GOLD FUTURES PRICE*(dollars per troy ounce)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14350
550
750
950
1150
1350
1550
1750
1/13
SOYBEANS FUTURES PRICE*(cents per bushel)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1448
1216202428323640444852
1/13
SILVER FUTURES PRICE*(dollars per troy ounce)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14150200250300350400450500550600650700750800
1/13
CORN FUTURES PRICE*(cents per bushel)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14600
800
1000
1200
1400
1600
1800
2000
2200
2400
1/13
PLATINUM FUTURES PRICE*(dollars per troy ounce)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1420030040050060070080090010001100120013001400
1/13
WHEAT FUTURES PRICE*(cents per bushel)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 140
500
1000
1500
1/10
PALLADIUM SPOT PRICE($/troy oz)
200-day moving average
Source: Haver Analytics.*Nearby contract.
yardeni.com
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14.0
.5
1.0
1.5
2.0
2.5
1/13
COTTON FUTURES PRICE*($/pound)
yardeni.com
- Commodity Prices (cont) -
Page 24 / January 16, 2012 / Chart Speed Test www.yardeni.com
Yardeni Research, Inc.
0
1
2
3
4
.8
Figure 27.
CRB FUTURES PRICE INDEX(1967=100)
.0
.5
1.0
1.5
2.0
2.5
2.1
CRB RAW INDUSTRIALS SPOT PRICE INDEX(1967=100)
0
2
4
6
8
6.1
CRB RAW MATERIALS SPOT PRICE INDEX: METALS(daily, 1967=100)
Includes copper scrap, lead scrap,steel scrap, tin and zinc
-2
0
2
4
6
8
2.6
BRENT CRUDE OIL FUTURES PRICE*(dollars per barrel)
0
1
2
3
4
1.8
GASOLINE FUTURES PRICE*(dollar per gallon)
-15
-10
-5
0
5
-10.7
NATURAL GAS FUTURES PRICE*(dollar per MMBTU)
-2
0
2
4
6
8
5.8
COPPER FUTURES PRICE*(dollar per pound)
-2
-1
0
1
2
3
.9
LEAD, RN NA SOLDER CASH PRICE(cents per pound)
0
5
10
15
11.0
TIN RN NA SOLDER: CASH PRICE(cents per pound)
-8
-6
-4
-2
0
2
-1.3
ZINC CASH PRICE(cents per pound)
yardeni.com-2
-1
0
1
2
.0
STEEL SCRAP CASH PRICE(dollars per gr. ton)
0
2
4
6
8
5.8
SILVER FUTURES PRICE*(dollars per troy ounce)
0
1
2
3
4
5
6
4.1
GOLD FUTURES PRICE*(dollars per troy ounce)
0
2
4
6
8
6.2
PLATINUM FUTURES PRICE*(dollars per troy ounce)
-6
-4
-2
0
2
4
-3.1
PALLADIUM CASH PRICE(dollars per troy ounce)
-8-7-6-5-4-3-2-10123
-7.3
CORN FUTURES PRICE*(cents per bushel)
2012* Nearby contract.Source: Haver Analytics.
-4
-3
-2
-1
0
1
2
3
-3.2
2012
SOYBEANS FUTURES PRICE*(cents per bushel)
-10
-8
-6
-4
-2
0
2
4
-7.7
WHEAT FUTURES PRICE*
2012
(cents per bushel)
yardeni.com
- Commodities (ytd) -
Page 25 / January 16, 2012 / Chart Speed Test www.yardeni.com
Yardeni Research, Inc.
2009 2010 2011 20121.4
1.6
1.8
2.0
2.2
2.4
2.6
2.8
3.0
3.2
3.4
3.6
3.8
4.0
4.2
4.4
4.6
4.8
15
20
25
30
35
40
1/16
CHINA STOCK MARKET vs. COPPER FUTURES PRICE
China: Shanghai-Shenzhen 300(12/31/2004=1000)
Copper Futures Price*(dollars per pound)
* Nearby contract.Source: Haver Analytics.
yardeni.com
Figure 28.
2009 2010 2011 201230
40
50
60
70
80
90
100
110
120
650
700
750
800
850
900
950
1000
1050
1100
1150
1200
1250
1300
1350
1400
1/13
S&P 500 INDEX vs. CRUDE OIL PRICE
Light Crude Oil Price(dollars per pound)
S&P 500 Index
Source: Standard & Poor’s Corporation and Haver Analytics.
yardeni.com
Figure 29.
- Stock Market vs. Crude Oil & Copper Prices -
Page 26 / January 16, 2012 / Chart Speed Test www.yardeni.com
Yardeni Research, Inc.
2009 2010 2011 201230
40
50
60
70
80
90
100
110
120
130
88
86
84
82
80
78
76
74
72
70
68
66
1/6
1/16
DOLLAR INDEX vs. CRUDE OIL PRICE
Major Trade-Weighted Dollar Index(inverted scale)
Brent Crude Oil Futures Price*(dollars per barrel)
* Nearby contact.Source: Board of Governors of the Federal Reserve System and Haver Analytics.
yardeni.com
Figure 30.
2009 2010 2011 2012650
750
850
950
1050
1150
1250
1350
1450
90
88
86
84
82
80
78
76
74
72
70
68
66
1/6
1/13
DOLLAR INDEX vs. S&P 500 INDEX
Major Trade-WeightedDollar Index(inverted scale)
S&P 500 Index
Source: Board of Governors of the Federal Reserve System and Haver Analytics.
yardeni.com
Figure 31.
- Trade-Weighted Dollar -
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Yardeni Research, Inc.
95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 130
200
400
600
800
1000
1200
1400
1600
0
200
400
600
800
1000
1200
1400
1600
1/13
1/13
S&P 500 vs. S&P RETAILING
S&P 500 Retailing
S&P 500 Index
Source: Standard & Poor’s Corporation.
yardeni.com
Figure 32.
95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 130
200
400
600
800
1000
1200
1400
1600
0
200
400
600
800
1000
1200
1400
1600
1/13
1/13
S&P 500 INDEX vs. S&P 500 BANKS
S&P 500 Banks
S&P 500 Index
Source: Standard & Poor’s Corporation.
yardeni.com
Figure 33.
- S&P 500 -
Page 28 / January 16, 2012 / Chart Speed Test www.yardeni.com
Yardeni Research, Inc.
Figure 34.
2009 2010 2011 201240
60
80
100
120
140
160
180
200
40
60
80
100
120
140
160
180
200
1/13
BANK STOCK PRICE INDEXES
United States: S&P 500 Bank Composite Index(daily)
2009 2010 2011 201260
80
100
120
140
160
180
200
220
240
260
60
80
100
120
140
160
180
200
220
240
260
1/16Europe: FTSE Eurofirst 300 Banks Euro Index(daily)
2009 2010 2011 201280
100
120
140
160
180
200
220
80
100
120
140
160
180
200
220
1/6
Japan: Tokyo Bank Stock Index(weekly)
200-day moving averageSource: Haver Analytics.
yardeni.com
- Bank Stocks -
Page 29 / January 16, 2012 / Chart Speed Test www.yardeni.com
Yardeni Research, Inc.
-10
-5
0
5
10
2.6
Figure 32.S&P 1500
All Sectors
-10
-5
0
5
10
3.4
ConsumerDiscretionary
-10
-5
0
5
10
-1.2ConsumerStaples
-10
-5
0
5
10
.3Energy
-10
-5
0
5
10
5.7
Financials
-10
-5
0
5
10
2.1Health Care
-10
-5
0
5
10
5.1
Industrials
-10
-5
0
5
10
2.7InformationTechnology
-10
-5
0
5
107.5
Materials
-10
-5
0
5
10
-1.3TelecomServices
-10
-5
0
5
10
-3.1Utilities
2012Source: Haver Analytics.
-10
-5
0
5
10
2.5
S&P 500 LargeCap
-10
-5
0
5
10
3.1
S&P 400 MidCap
-10
-5
0
5
10
2.9
S&P 600 SmallCap
-10
-5
0
5
10
3.3
-10
-5
0
5
10
3.6
-10
-5
0
5
10
4.2
-10
-5
0
5
10
-1.3
-10
-5
0
5
10
.7
-10
-5
0
5
10
-.2
-10
-5
0
5
10
.3
-10
-5
0
5
10
.1
-10
-5
0
5
10
.7
-10
-5
0
5
10
6.2
-10
-5
0
5
10
3.1
-10
-5
0
5
10
2.4
-10
-5
0
5
10
2.0
-10
-5
0
5
10
4.0
-10
-5
0
5
10
.8
-10
-5
0
5
10
5.1
-10
-5
0
5
10
5.8
-10
-5
0
5
10
4.2
-10
-5
0
5
10
2.7
-10
-5
0
5
10
2.6
-10
-5
0
5
10
3.9
-10
-5
0
5
107.9
-10
-5
0
5
10
5.4
-10
-5
0
5
107.2
-10
-5
0
5
10
-1.4
-10
-5
0
5
10
4.8
-10
-5
0
5
10
3.4
-10
-5
0
5
10
-3.1
2012
-10
-5
0
5
10
-3.4
2012
-10
-5
0
5
10
-2.3
2012
yardeni.com
- S&P 1500/500/400/600 (ytd) -
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Yardeni Research, Inc.
Figure 36.
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1490
130
170
210
250
290
330
370
1/13
CONSUMER DISCRETIONARY
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 140
200
400
600
800
1000
1200
1400
1600
1/13
S&P 500 HOMEBUILDING(DHI LEN PHM)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1450
100
150
200
250
300
350
400
1/13
S&P 500 APPAREL, ACCESSORIES,LUXURY GOODS(COH RL VFC)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1425
75
125
175
225
275
325
375
1/13
S&P 500 HOUSEHOLD APPLIANCES(SNA SWK WHR)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1450
150
250
350
450
550
650
750 1/13S&P 500 FOOTWEAR(NKE)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1425
50
75
100
125
150
175
200
1/13
S&P 500 HOUSEWARES & SPECIALTIES(FO NWL)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1425
50
75
100
125
150
175
1/13
S&P 500 HOME FURNISHINGS(LEG)
200-day moving averageSource: Standard and Poor’s Corporation.
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1475
100
125
150
175
200
2251/13S&P 500 DISTRIBUTORS
(GPC)
yardeni.com
- S&P 500: Consumer Discretionary -
Page 31 / January 16, 2012 / Chart Speed Test www.yardeni.com
Yardeni Research, Inc.
Figure 37.
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1420
40
60
80
100
120
140
160
180
200
1/13
S&P 500 AUTO PARTS & EQUIPMENT (JCI)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1450
100
150
200
250
300
350
400
450
500
1/13
S&P 500 ADVERTISING(IPG OMC)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 140
25
50
75
100
125
150
175
200
225
250
1/13
S&P 500 TIRES & RUBBER(GT)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14050100150200250300350400450500550600
1/13
S&P 500 BROADCASTING(CBS)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 140
50
100
150
200
250
300
350
1/13
S&P 500 AUTOMOBILE MANUFACTURERS(F)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1450
100
150
200
250
1/13
S&P 500 MOVIES & ENTERTAINMENT(DIS NWS.A TWX VIA.B)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 140
25
50
75
100
125
150
175
200
225
250
1/13
S&P 500 MOTORCYCLE MANUFACTURERS(HOG)
200-day moving averageSource: Standard and Poor’s Corporation.
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1450
100
150
200
250
300
350
400
1/13
S&P 500 PUBLISHING(GCI WPO)
yardeni.com
- S&P 500: Consumer Discretionary (cont) -
Page 32 / January 16, 2012 / Chart Speed Test www.yardeni.com
Yardeni Research, Inc.
Figure 38.
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1450
75
100
125
150
175
200
225
250
1/13
S&P 500 LEISURE PRODUCTS(HAS MAT)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14100150200250300350400450500550600650700750800850
1/13S&P 500 RESTAURANTS(DRI MCD SBUX YUM)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1450
100
150
200
250
300
1/13
S&P 500 HOTELS, RESORTS & CRUISE LINES(CCL HOT MAR WYN)
yardeni.com
200-day moving averageSource: Standard and Poor’s Corporation.
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14150
350
550
750
950
1150
1350
1550
1750
1950
2150
1/13
S&P 500 CASINOS & GAMING(IGT WYNN)
- S&P 500: Consumer Discretionary (cont) -
Page 33 / January 16, 2012 / Chart Speed Test www.yardeni.com
Yardeni Research, Inc.
Figure 39.
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14100
200
300
400
500
600
700
800
1/13
S&P 500 RETAILING(AMZN AN ANF AZO BBBY BBY BIG EXPE FDO GME GPCGPS HD JCP JWN KSS LOW LTD M ODP ORLY PCLNROST RSH SHLD SHW SPLS TGT TIF TJX URBN)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14150
250
350
450
550
650
750
850
950
1/13
S&P 500 GENERAL MERCHANDISE(BIG FDO TGT)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 140
200
400
600
800
1/13S&P 500 APPAREL RETAIL(ANF GPS LTD ROST TJX)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14150
200
250
300
350
400
450
500
550
600
650
700
1/13
S&P 500 HOME IMPROVEMENT RETAIL(HD LOW SHW)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1450
100
150
200
250
300
350
400
450
500
1/13
S&P 500 COMPUTER & ELECTRONICS RETAIL(BBY GME)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14100
200
300
400
500
600
700
800
900
1000
1100
1/13
S&P 500 INTERNET RETAIL(AMZN EXPE NFLX PCLN)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 140
50
100
150
200
250
300
350
1/13
S&P 500 DEPARTMENT STORES(JCP JWN KSS SHLD)
200-day moving averageSource: Standard and Poor’s Corporation.
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1425
50
75
100
125
150
175
200
1/13
S&P 500 SPECIALTY STORES(SPLS TIF)
yardeni.com
- S&P 500: Consumer Discretionary Retailers -
Page 34 / January 16, 2012 / Chart Speed Test www.yardeni.com
Yardeni Research, Inc.
Figure 40.
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14125
150
175
200
225
250
275
300
325
3501/13S&P 500 CONSUMER STAPLES
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14200
250
300
350
400
450
500
550
600
650
700
1/13
S&P 500 DRUG RETAIL(CVS WAG)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14100
200
300
400
500
600
700
800
900
1000
1/13
S&P 500 AGRICULTURAL PRODUCTS(ADM)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14100
150
200
250
300
350
400
450
500
550
1/13
S&P 500 FOOD DISTRIBUTORS(SYY)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14150
200
250
300
350
400
450
500
550
600
650
700
1/13
S&P 500 BREWERS(BUD TAP)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1450
100
150
200
250
300
350
1/13
S&P 500 FOOD RETAIL(KR SVU SWY WFMI)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1475
100
125
150
175
200
225
250
1/13
S&P 500 DISTILLERS & VINTNERS(BF.B STZ)
200-day moving averageSource: Standard and Poor’s Corporation.
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14150
200
250
300
350
400
450
500
1/13
yardeni.com
S&P 500 HOUSEHOLD PRODUCTS(CL CLX KMB PG)
- S&P 500: Consumer Staples -
Page 35 / January 16, 2012 / Chart Speed Test www.yardeni.com
Yardeni Research, Inc.
Figure 41.
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1470
80
90
100
110
120
130
1/13
S&P 500 HYPERMARKETS & SUPER CENTERS(COST WMT)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14140
180
220
260
300
340
380
1/13
S&P 500 SOFT DRINKS(CCE DPS KO PBG PEP)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14100
150
200
250
300
350
1/13S&P 500 PACKAGED FOODS & MEATS(CAG CPB DF GIS HNZ HRL HSY K KFT MKCSJM SLE TSN)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1460
140
220
300
380
460
540
620
700
780
1/13S&P 500 TOBACCO(LO MO PM RAI)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14140
180
220
260
300
340
380
420
460
500
540
580
1/13
S&P 500 PERSONAL PRODUCTS(AVP EL MJN)
200-day moving averageSource: Standard and Poor’s Corporation.
yardeni.com
- S&P 500: Consumer Staples (cont) -
Page 36 / January 16, 2012 / Chart Speed Test www.yardeni.com
Yardeni Research, Inc.
Figure 42.
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14100
150
200
250
300
350
400
450
500
550
600
650
700
1/13
S&P 500 ENERGY
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14100
150
200
250
300
350
400
450
500
550
600
650
700
750
800
850
900
1/13
S&P 500 OIL & GAS EQUIPMENT & SERVICES(BHI BJS CAM DO FTI HAL NOV SLB)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14150
200
250
300
350
400
450
500
550
600
650
1/13
S&P 500 INTEGRATED OIL & GAS(COP CVX HES MRO MUR OXY XOM)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1450
150
250
350
450
550
650
750
850
950
1/13
S&P 500 OIL & GAS EXPLORATION &PRODUCTION(APA APC CHK COG DNR DVN EOG NBL NFX PXD QEP RRCSWN XTO)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14100
200
300
400
500
600
700
800
900
1000
1100
1/13
S&P 500 OIL & GAS DRILLING(HP NBR RDC)
200-day moving average
Source: Standard and Poor’s Corporation.
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1450
100
150
200
250
300
350
400
450
500
550
600
650
700
750
1/13
S&P 500 OIL & GAS REFINING & MARKETING(MPC SUN TSO VLO)
yardeni.com
- S&P 500: Energy -
Page 37 / January 16, 2012 / Chart Speed Test www.yardeni.com
Yardeni Research, Inc.
Figure 43.
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1450
100
150
200
250
300
350
400
450
500
550
1/13
S&P 500 FINANCIALS
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14100
150
200
250
300
350
400
450
1/13
S&P 500 INSURANCE BROKERS(AOC MMC)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1440
60
80
100
120
140
160
180
200
220
240
260
1/13
S&P 500 ASSET MANAGEMENT &CUSTODY BANKS(AMP BEN BK FII IVZ LMNTRS STT TROW)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1425
75
125
175
225
275
1/13
S&P 500 INVESTMENT BANKING &BROKERAGE(ETFC GS MS SCHW)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14-10
90
190
290
390
490
590
690
790
890
1/13
S&P 500 CONSUMER FINANCE(AXP COF DFS SLM)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 140
50
100
150
200
250
300
350
400
450
1/13
S&P 500 LIFE & HEALTH INSURANCE(AFL LNC MET PFG PRU TMK UNM)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1450
100
150
200
250
300
350
400
450
500
1/13
S&P 500 DIVERSIFIED BANKS(CMA USB WFC)
200-day moving averageSource: Standard and Poor’s Corporation.
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 140
100
200
300
400
500
600
700
800
1/13yardeni.com
S&P 500 MULTI-LINE INSURANCE(AIG AIZ GNW HIG L)
- S&P 500: Financials -
Page 38 / January 16, 2012 / Chart Speed Test www.yardeni.com
Yardeni Research, Inc.
Figure 44.
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 140
20
40
60
80
100
120
140
160
180
200
1/13
S&P 500 OTHER DIVERSIFIEDFINANCIAL SERVICES(BAC C JPM)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 140
30
60
90
120
150
180
1/13
S&P 500 REGIONAL BANKS(BBT FHN FITB HBAN KEYMTB PNC RF STI ZION)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14100
150
200
250
300
350
400
1/13
S&P 500 PROPERTY & CASUALTY INSURANCE(ACE ALL CB CINF PGR TRV XL)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1440
70
100
130
160
190
220
250
280
310
1/13
S&P 500 SPECIALIZED FINANCE(CME ICE MCO NDAQ NYX)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1430
50
70
90
110
130
150
170
190
210
230
250
1/13
S&P 500 REAL ESTATE INVESTMENT TRUSTS(AIV BXP CBG EQR HCN HCP HST KIM PCL PLD PSASPG VNO VTR)
200-day moving averageSource: Standard and Poor’s Corporation.
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 140
25
50
75
100
125
150
175
1/13yardeni.com
S&P 500 THRIFTS & MORTGAGE FINANCE(HCBK PBCT)
- S&P 500: Financials (cont) -
Page 39 / January 16, 2012 / Chart Speed Test www.yardeni.com
Yardeni Research, Inc.
Figure 45.
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14200
300
400
500
1/13
S&P 500 HEALTH CARE
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14200
250
300
350
400
450
500
550
600
650
700
1/13
S&P 500 HEALTH CARE EQUIPMENT(BAX BCR BDX BSX CFNwi HSP ISRGMDT STJ SYK VAR ZMH)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 140
200
400
600
800
1000
1200
1400
1/13
S&P 500 BIOTECHNOLOGY(AMGN BIIB CELG GENZ GILD)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 140
50
100
150
200
250
1/13
S&P 500 HEALTH CARE FACILITIES(THC)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14100
150
200
250
300
350
400
1/13
S&P 500 HEALTH CARE DISTRIBUTORS(ABC CAH MCK PDCO)
200-day moving average
Source: Standard and Poor’s Corporation.
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1480
120
160
200
240
280
320
360
400
440
480
520
560
1/13
yardeni.com
S&P 500 HEALTH CARE SERVICES(DGX DVA ESRX LH MHS)
- S&P 500: Health Care -
Page 40 / January 16, 2012 / Chart Speed Test www.yardeni.com
Yardeni Research, Inc.
Figure 46.
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1450
100
150
200
250
300
350
400
450
500
550
600
650
1/13
S&P 500 MANAGED HEALTH CARE(AET CI CVH HUM UNH WLP)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1430
50
70
90
110
130
150
170
190
1/13
S&P 500 HEALTH CARE TECHNOLOGY(CERN)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14200
250
300
350
400
450
500
550
600
1/13
S&P 500 PHARMACEUTICALS(ABT AGN BMY FRX JNJ LLYMRK MYL PFE WPI)
200-day moving averageSource: Standard and Poor’s Corporation.
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1470788694102110118126134142150158166174182190198206214
1/13
S&P 500 LIFE SCIENCES TOOLS & SERVICES(LIFE MIL PKI TMO WAT)
yardeni.com
- S&P 500: Health Care (cont) -
Page 41 / January 16, 2012 / Chart Speed Test www.yardeni.com
Yardeni Research, Inc.
Figure 47.
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14100
150
200
250
300
350
400
1/13
S&P 500 INDUSTRIALS
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 144080120160200240280320360400440480520
1/13
S&P 500 CONSTRUCTION & ENGINEERING(FLR JEC PWR)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14150
200
250
300
350
400
450
500
550
1/13
S&P 500 AEROSPACE & DEFENSE(BA COL GD GR HON LLL LMT NOC PCP RTN UTX)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14100
200
300
400
500
600
700
800
900
1000
1/13
S&P 500 CONSTRUCTION & FARMMACHINERY & HEAVY TRUCKS(CAT CMI DE PCAR)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 140
50
100
150
200
250
300
1/13
S&P 500 BUILDING PRODUCTS(MAS)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14100
150
200
250
300
350
400
450
500
550
600
650
1/13
yardeni.com
S&P 500 ELECTRICAL COMPONENTS &EQUIPMENT(CBE EMR FSLR ROK ROP)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 140
50
100
150
200
1/13
S&P 500 COMMERCIAL PRINTING(RRD)
200-day moving averageSource: Standard and Poor’s Corporation.
- S&P 500: Industrials -
Page 42 / January 16, 2012 / Chart Speed Test www.yardeni.com
Yardeni Research, Inc.
Figure 48.
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1425
50
75
100
125
150
175
200
1/13
S&P 500 ENVIRONMENTAL &FACILITIES SERVICES(RSG SRCL WMI)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14150
200
250
300
350
400
450
500
550
600
1/13
S&P 500 INDUSTRIAL MACHINERY(DHR DOV ETN FLS IR ITT ITW PH PLL)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 140
50
100
150
200
1/13
S&P 500 HUMAN RESOURCE &EMPLOYMENT SERVICES(MWW RHI)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1450
100
150
200
250
300
350
400
450
1/13
S&P 500 OFFICE SERVICES & SUPPLIES(AVY PBI)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 140
100
200
300
400
500
600
700
1/13
S&P 500 INDUSTRIAL CONGLOMERATES(GE MMM TYC TXT)
200-day moving average
Source: Standard and Poor’s Corporation.
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1450
100
150
200
250
300
350
400
450
1/13
yardeni.com
S&P 500 TRADING COMPANIES &DISTRIBUTORS(FAST GWW)
- S&P 500: Industrials (cont) -
Page 43 / January 16, 2012 / Chart Speed Test www.yardeni.com
Yardeni Research, Inc.
Figure 49.
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14100
150
200
250
300
350
400
450
1/13
S&P 500 TRANSPORTATION INDEX
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 140
50
100
150
200
250
300
350
400
450
1/13
S&P 500 AIRLINES(LUV)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14150
200
250
300
350
400
450
500
550
1/13
S&P 500 AIR FREIGHT & LOGISTICS(CHRW EXPD FDX UPS)
200-day moving average
Source: Standard and Poor’s Corporation.
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14100
200
300
400
500
600
700
800
1/13
yardeni.com
S&P 500 RAILROADS(BNI CSX NSC UNP)
- S&P 500: Industrials (cont) -
Page 44 / January 16, 2012 / Chart Speed Test www.yardeni.com
Yardeni Research, Inc.
Figure 50.
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14150
250
350
450
550
650
750
850
950
1050
1150
1/13
S&P 500 INFORMATION TECHNOLOGY
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14100
500
900
1300
1700
2100
2500
2900
1/13
S&P 500 COMPUTER STORAGE &PERIPHERALS(EMC LXK NTAP QLGC WDC)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1410
30
50
70
90
110
130
150
170
190
1/13
S&P 500 APPLICATION SOFTWARE(ADBE ADSK CPWR CRM CTXS INTU)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14100
150
200
250
300
1/13
S&P 500 DATA PROCESSING &OUTSOURCED SERVICES(ACS ADP CSC EDS FIS FISV PAYX TSSWI V WU)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 140
200
400
600
800
1000
1200
1/13
S&P 500 COMMUNICATIONS EQUIPMENT(CSCO FFIV GLW HRS JDSU JNPR MMI MOT QCOM TLAB)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 140
100
200
300
400
500
600
700
1/13
S&P 500 ELECTRONIC EQUIPMENTMANUFACTURERS(A)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14200
300
400
500
600
700
800
900
1000
1/13
S&P 500 COMPUTER HARDWARE(AAPL DELL HPQ IBM JAVA TDC)
200-day moving averageSource: Standard and Poor’s Corporation.
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 140
50
100
150
200
1/13
yardeni.com
S&P 500 ELECTRONIC MANUFACTURINGSERVICES(JBL MOLX)
- S&P 500: Information Technology -
Page 45 / January 16, 2012 / Chart Speed Test www.yardeni.com
Yardeni Research, Inc.
Figure 51.
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 140
50
100
150
200
250
300
1/13
S&P 500 HOME ENTERTAINMENT SOFTWARE(ERTS)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14100
400
700
1000
1300
1600
1900
1/13
S&P 500 SEMICONDUCTORS(ADI ALTR AMD BRCM INTC LLTC LSI MCHP MUNVDA TXN XLNX)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1450
100
150
200
250
300
350
1/13
S&P 500 INTERNET SOFTWARE & SERVICES(AKAM EBAY GOOG VRSN YHOO)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14100
300
500
700
900
1100
1300
1500
1700
1/13
S&P 500 SEMICONDUCTOR EQUIPMENT (AMAT KLAC NVLS TER)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 140
50100150200250300350400450500550600
1/13
S&P 500 IT CONSULTING & OTHER SERVICES(ACN CTSH DNB SAI)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14300
500
700
900
1100
1300
1500
1/13
S&P 500 SYSTEMS SOFTWARE(BMC CA MSFT NOVL ORCL RHT SYMC)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 140
50
100
150
200
250
1/13
S&P 500 OFFICE ELECTRONICS(XRX)
200-day moving averageSource: Standard and Poor’s Corporation.
yarden
i.com
- S&P 500: Information Technology (cont) -
Page 46 / January 16, 2012 / Chart Speed Test www.yardeni.com
Yardeni Research, Inc.
Figure 52.
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1475
125
175
225
275
325
1/13
S&P 500 MATERIALS INDEX
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 140
100
200
300
400
500
600
700
800
900
1/13
S&P 500 DIVERSIFIED METALS & MINING(FCX TIE)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1425
75
125
175
225
275
325
1/13
S&P 500 ALUMINUM(AA)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14100
500
900
1300
1700
2100
1/13
S&P 500 FERTILIZER & AGRICULTURALCHEMICALS(CF MON MOS)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1425
50
75
100
125
150
175
200
225
250
275
1/13
S&P 500 CONSTRUCTION MATERIALS(VMC)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1420
60
100
140
180
1/13
yardeni.com
S&P 500 GOLD(NEM)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 140
50
100
150
200
250
300
1/13
S&P 500 DIVERSIFIED CHEMICALS(DD DOW EMN FMC PPG)
200-day moving averageSource: Standard and Poor’s Corporation.
- S&P 500: Materials -
Page 47 / January 16, 2012 / Chart Speed Test www.yardeni.com
Yardeni Research, Inc.
Figure 53.
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14100150200250300350400450500550600650700750
1/13S&P 500 INDUSTRIAL GASES(APD ARG PX)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 140
20
40
60
80
100
120
140
160
180
200
220
1/13
S&P 500 PAPER PRODUCTS(IP MWV)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1420
40
60
80
100
120
140
160
1/13
S&P 500 METAL & GLASS CONTAINERS (BLL)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1480
120
160
200
240
280
320
360
400
440
480
1/13S&P 500 SPECIALTY CHEMICALS(ECL IFF ROH SIAL)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1460
80
100
120
140
160
180
200
220
1/13
S&P 500 PAPER PACKAGING(BMS SEE)
200-day moving average
Source: Standard and Poor’s Corporation.
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1420
60
100
140
180
220
260
300
340
380
420
1/13
yardeni.com
S&P 500 STEEL(AKS ATI CLF NUE X)
- S&P 500: Materials (cont) -
Page 48 / January 16, 2012 / Chart Speed Test www.yardeni.com
Yardeni Research, Inc.
Figure 54.
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1460
100
140
180
220
260
300
340
380
420
1/13
S&P 500 TELECOMMUNICATION SERVICES
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 140
100
200
300
400
500
600
700
800
900
1000
1100
1200
1/13
S&P 500 WIRELESS TELECOMMUNICATION(AMT PCS S)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1450
100
150
200
250
300
350
1/13
S&P 500 INTEGRATED TELECOMMUNICATION(CTL FTR Q T VZ WIN)
200-day moving average
Source: Standard and Poor’s Corporation.
yardeni.com
- S&P 500: Telecommunication Services -
Page 49 / January 16, 2012 / Chart Speed Test www.yardeni.com
Yardeni Research, Inc.
Figure 55.
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1450
75
100
125
150
175
200
225
250
1/13
S&P 500 UTILITIES INDEX
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1475
125
175
225
275
325
375
425
475
1/13
S&P 500 GAS UTILITIES(EQT GAS OKE)
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1475
100
125
150
175
200
225
250
275
300
325
1/13
S&P 500 ELECTRIC UTILITIES(AEP AYE DUK EIX ETR EXC FEFPL NU PGN PNW POM PPL SO)
200-day moving average
Source: Standard and Poor’s Corporation
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 1410
15
20
25
1/13
yardeni.com
S&P 500 MULTI-UTILITIES(AEE CMS CNP D DTE ED NIPCG PEG SRE TE TEG XEL WEC)
- S&P 500: Utilities -
Page 50 / January 16, 2012 / Chart Speed Test www.yardeni.com
Yardeni Research, Inc.
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