Sunday, October 05, 2014

DESPITE, the big rally Friday, most of the majors just rallied back up into resistance, the DIA and SPY very much so, the IWM actually broke the short term down trend but still has major resistance at 112 and 114, the Q's actually look the WORST, as they rallied up to the down trend line and then REEEEEEEEEEEEEEEE..............jected! Another nice day on Monday though will solve most of these problems, the best looking chart on there is the XLP, mega cap consumer staples, but of course, they are the single most over valued pieces of shit in the markets. 

The NYAD's at least turned up Friday, maybe two more nice up days and they may give a buy signal, the $NYSI is not even CLOSE to a buy signal, and has not turned higher yet.

The big winner's in my 73 markets this week were either inverse funds, or defensive funds, like XLU, TLT, XLP, BND, grains moved higher this week, DBA, which will make all those new minimum wage earner's that were recently hired happy, as well as rising energy costs with UNG going higher, it went higher of course because we are drilling more natural gas than ever before, but of course the FED revokes the laws of supply and demand now. 

The loser's were legion, AGAIN, besides some of the Udder Worldly things like EWZ and RSX and EWY  the big loser's were OIH ,USO and XLE as our Government didn't want to discourage those new minimum wage worker's from driving to their new job. GDX and SLV made the list but GOLD, despite being down 24 stinking handles Friday, was on the second page at -2%. Our other worst sector besides XLE was XLB, our best major was the DIA, -.57%, then QQQ -.62%, SPY -.71%, with the little guys bringing up the rear at -1.32%, not all that bad considering the week it MIGHT have been if every thing had not been up over 1% Friday. 
My 73 markets ended with no new 20 day highs, 17 new 20 day lows, down from 42 last week, so we actually have an upside divergence on that stat with the indexes being lower this week, the death crosses increased this week, from 45 to 49. 

TSN must have taken a lesson from the biggest pork producers in the Country, Washington DC, as they were the big winners in the S and P 500 this week, CS upgraded them to NEUTRAL, hahahahahaha, can you imagine how much they would have gone up if CS had actually considered them to be a BUY??????

There were four 10+% loser's on the list this week, the biggest being "F", after they lowered profit estimates and announced a half BILLION DOLLAR cost for a recall:

Despite having a little fun with the infamous BUY THE DIPPER'S, it does appear that it "MIGHT" be in an actual "area" of support now, although I like $12 a lot better, but that's just me.

304 stocks in the S and P were down this week, we closed with 12 52 WK highs vs 12 last week, only six new lows vs 14 last week, 30 20 day highs vs 11 last week and 18 20 day lows vs 160 last week, so "breath" improved a lot, but it was mostly due to Friday as there were 280 20 day lows as of Thursday, so one lousy up day can change a lot in the 20 day stats.

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