This Week with StockPunk 5-19-2008

The Zweig screen is still pretty sparse with only 10 selections this week. With the major indexes hovering below their 200 day moving averages, everyone seems poised for either a huge breakout or a pullback. Of course no one really knows what's going to happen, so my suggestion (as always) is to just let the screens do their work.

The S&P 500 monthly chart has just peeked above its 20 period moving average. If it can hold out above there for the next couple of months, things look good for more of a long-term rally. If not, hopefully we'll avoid a repeat of 2000.