Saturday, August 02, 2014

WEEKLY WRAP UP

Five Fatal Flaws of Trading

By Elliott Wave International
While there is no magic formula, EWI Senior Instructor Jeffrey Kennedy has identified five fundamental flaws that, in his opinion, stop most traders from being consistently successful. Read more.

"Silent Crash": Why the Real Value of the Dow Jones Industrials Matters
Priced in real value, the Dow has collapsed 84% since 1999
By Elliott Wave International
Prepare now for what EWI sees ahead by reading a special report for investors just like you, titled, "The Nominal Dow: The Biggest Lie in Stock Market History." This must-read report is 100% free. Read more.



The $NYSI has made an absolutely ZERO attempt to move higher since it issued a sell signal, in fact, it looks to be accelerating to the down side. It would take a few decent days to the upside just to get back to an area where it might get close to a buy signal.


On the other hand, the $NYMO is so bad it's actually GOOD, it's reached it's lowest point since the last major bottom in  the markets almost a year ago. In days of Yore, before the massive FED manipulations, this thing used to get to -100 or lower before we thought of a possible bottom, but that was then and this is now.


In a perfect world we would get a nice little 5% correction or so that would take us back down to the break out we made in May, around $190, but of course, in a "TRUE" perfect world we would go back down to $66 where we bottomed in March of 09' with a P/E north of 180 and a dividend yield south of 1%, only this time bottom with a P/E and dividend yield both around 8, Ya know, where prior MAJOR market bottoms were made, but it ain't gonna happen of course.
The STOCH is over sold for the first time since April, but the RSI still has a ways to go to what we USED to consider over sold, -20, but of course we didn't reach that level in February or April, so why would we get there this time.


Not much on the winning side of my 73 markets I monitor, just some inverse funds and Asian markets like EWY, EWY and  FXI.


The loser's were Legion, led mostly by Europe, and that was led by the Germans, EWG down 4.88% on the week, Brazil did squeak in just behind them at -4.52%, our worst sectors were XLE, XLI and IYT, all down over 3.5%.  Our worst major market was the DIA, -2.71%, followed by the SPY at -2.64%, then our "risky" market, IWM -2.57$, with the NasDOGS our big winner's for the week, down only 2.14%.


The markets with a death cross, 20 SMA below 50 SMA, naturally increased this week, to 28 markets out of the 73, if they ever get to over 50% of the markets I will have to start keeping tab's of how many are getting a Golden Cross. There were NO over bought markets this week, RSI 14 over 80, but we finally got one that was over sold, JNK with an RSI 14 under 20.


There's always a bull market some where, these are the big winner's in the S and P 500 this week.


Lot's of interesting names on the loser's list, GT down over 12%, PNR, LLL, GLW, ROK, ATI, HUM, CMI, wow, lots of them, if they go down another 50% or so I might get interested in being an "inwestor".


We had no over bought stocks this week, but we FINALLY got some on the over sold list, RSI 14 of less than 20, there's even two DJI stocks on the list, AXP and UTX.

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