Saturday, September 06, 2014

WEEKLY WRAP UP







S&P 500 ends at record as jobs report eases Fed worries

There's no reason to show any charts or breath or indicators, that head line says it all, nothing about the report being over 33% less than the prior report, or even more than that on the "estimates" for this month, or it's the worst report in eight months, in the summer yet, or manufacturing added ZERO jobs, or the labor rate fell by 1/10th as more people dropped out of the labor pool, or the entire drop in the rate this year is due to people dropping out of the pool, no, the only thing that matter's is the horrible report keeps the FED on the side lines.
What evil the Federal Reserve has wrought upon us when Wall Street and the media cheer a report like that.
Actually, it was a good thing they did cheer it as we were within a gnat's ass of getting a sell signal on the $NYAD's, but the report moved us back above it. Both the $NYAD and $NAAD were LOWER this week while both the $NYA and $COMPQ were HIGHER, the first time this has happened since 2009.



China was the big winner in my 73 markets this week, FXI up 4.94%, they were followed by Russia, Chile and India, RSX, ECH and EPI, quite a hodge pod there. With all this joy in the market it was kind of strange to me that DEFENSE led our markets higher this week, XLU up 2.44%, transports were right behind with IYT up 2.36%, with XLV and SMH showing up on the first page. Our best major market was the equal weight RSP up .68%, followed by the SPY and QQQ tied at .48%, then IWM at .41% with the DOW a distant third at .28%.


Bonds actually took a hit this week, TLT down 2.5%, but they are still up 15.92% year to date compared to the SPY's 9.9% gain. Other loser's were the leader UNG, GDX, SLV, GLD,  DBC, USO and JNK.


Here's the big winner's in the S and P 500 this week, these will "probably" continue to rise.


And here's the loser's, CLF just CONTINUES to show up on this list, this week it was the WINNER, AGAIN, I follow Stock Twits and it's hilarious to see the number of people going to pop huge one of these weeks, really, HONEST, I guess it will continue to go lower as long as people think it can't. It was a bad week for energy over all, with BTU, NE, DO, JOY, RRC, NBR, RDC, hell, even AAPL showed up on the list, by the way DO was the only S and P stock to make a 52 week low this week, it immediately bounced today with a nice looking candle and decent volume.


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