Sunday, July 13, 2014

WEEKLY WRAP UP


Since the "just barely" sell signal issued Tuesday night, the $NYSI has fallen off a cliff, much like it did in the circle on the left side, during the January-February sell off in the markets

The "Good Part", is my market monitor of over 2600 stocks is so BAD, it's actually GOOD, hahahahahaha!! We closed the week out with 1045 stocks down over 4% for the week, the last time we got over 1000 down 4% on the week was April 11, which was the end of the pull back in the SPY. Don't mean we HAVE to go UP here, just say'in, is all..........


Indonesia was the big winner this week in the 73 markets I monitor, taking first and second, EIDO and IDX up 6.91 and 5.99% for the week, our major market winner was bonds, TLT up 2.62%, precious metals did well this week, SLV and GLD up 1.38 and 1.27%, with the miners leading both of them, GDX up 3.09%. It was kind of funny as the "Fast Money" boys tonight were kind of negative on the precious metals going forward.


The loser's were the big winners this week, as there were 50 of them, typical stuff as the one that led going to the upside took it on the chin the hardest, EPI down 6.43% on the week, a lot of Europe on the list, EWI, EWO, EWP, EWN, EWG, our worst major market was the little guys, IWM down 3.94%, they were followed by the SPY down .80%, the DIA down .75%, with the big winner being the NasDOGS, QQQ down .45%.


The chart of the IWM actually still doesn't look that awful, kind of a double top failure, but they held above the 50 and 200 DMA's, and both are sloping to the upside. Both the T-Line, the black line, and the HMA are negative.
A lot of people tried to "explain" the drop, wad ever, I have a pretty simple one:


THEY'RE STINKING OVER VALUED LIKE CRAZY!!!! That's the P/E's from the Wall Street Journal, the IWM is working on a 78.06 TTM P/E, hahahahahahahahahahbahahahahaha, but what REALLY slays me is last year, the index was 21% lower, and the P/E was 67% lower at 46.74, wad ever, I might say the S and P is getting a little frothy at 19.13 TTM, but nobody seems the least bit worried about it, as the key words are "MULTIPLE EXPANSION", as in, THEY WILL GET MORE EXPENSIVE!!! Woooo Hoooo. I love that 19.26 "guesstimate" they have on the P/E for the little guys next year, hahahaha, good luck with THAT one.


The markets with a death cross, 20 ma below 50 ma, increased to 17 this week.


AA continued their market leading performance, leading the S and P 500 this week, up 6.61%, only 137 S and P stocks were higher this week, the ones with an RSI 14 of over 80 dropped to only two, LRCX, on the list, and KLAC.


A metal stock led us higher, and one led us LOWER, CLF down 10.29% on the week, I'm actually VERY surprised at the next eight names on that list, FSLR, FAST, CRM, BBY, NFLX, GRMN, MHK, PVH, hhhmmmmmmmm, I don't know, maybe they are taking some of these nice companies down so they can rotate into them when they pop on earnings, OR, maybe they think they are going to MISS earnings, and go MUCH lower, hhhhmmmmmmmmm, tough call...................................

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