Sunday, December 29, 2013

Just waiting on the BYU game tonight against a pretty tough Washington team, it will be interesting to see which team shows up, the one that slaughtered the number two team in the Big Twelve, Texas, and beat five other Bowl teams, or the one that lost to two of the worst teams in the Country, sigh, a real Psycho team, mostly because of our QB.
The $SPXADP at the top led the charge in the SPY by breaking out in December a year ago, and supported the advance all year long. In contrast, the $NYAD's have been a Psycho team, they did what they are SUPPOSED to do in December last year by leading the break out at the start of the year by just about a month, but other than the run up into May they have not supported the market advance in the least, they could not break the May highs until October and then promptly sat on their asses until the break higher this week, joining the $NYSI in a new buy signal.

The $NYHGH has not exactly done it's job this year as well, it did into the May high as it was making new highs all the way, but dropped down into the September high, and then collasped after the October high even as the markets advanced into December, a pretty rough year for the "breath" indicators.

The GDX showed up in the number two spot in my Market monitor this week, gaining 4.63%, and proving once again Virginia, that, yes, there is a Santa Claus. The list is mostly filled with those other Worldly indexs, our best gainer was the IWM at 3.18%, followed by OIH and XLB down toward the bottom, the Q's came in at 2.21% followed by the SPY and DIA, up 1.85%, GLD was up 2%.

Not many loser's, 11 to be exact out of 80 markets, Turkey led the way, AGAIN, down another 10% this week, what in the hell is going on over there?? Most of the other loser's were the bond funds and JNK as the ten year got over 3%.

The BIG winner's in the S and P this week.

And the big loser's, below are three 60 min. charts out of the two lists above that I found interwesting:

ISRG, "COULD", try and set up an INVERSE head and shoulders by pulling back to about $375, and if it then gets over the highs this week it, "COULD", have clear sailing back to the $390 "area".

RDC has kind of the same set up, it stopped dead on resistance, and a pull back to about $34.50 and then a break back over the highs, "COULD", take it back to the $36 "area".

BAC has a nice five day consolidation after pulling BAC off the $16 high, it has a nice R/R as you OBVIOUSLY wouldn't want to stick around long under $15.60, Josh Brown on "Fast Money" says this thing is going to be closer to $20 than $15 in the first quarter next year, we shall SEE!
As a disclaimer I have a position in BAC, and the whole purpose of this post is to try and suck some one into taking it off my hands at higher prices.
AA reached the target I talked about a while BAC, the rest is up to you and how long you want to ride it, it reports earnings on the 9th.


Anonymous said...

Very excellent old friend -- Happy New Year, Mrkt

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