Monday, January 12, 2015

WEEKLY WRAP UP


My chart of the week for the major indexes is the IWM, it's an absolute piece of JUNK! BUTT, it made a new HIGH, it closed under that lower trend line but then closed back inside the big triangle the very next day, meaning we are still waiting for the BIG break out, either way. The bad part is it put on that UGILLY looking BEARISH ENGULFING candle today, the only one of the indexes that CLOSED like that. Back in the "DAY", before the massive FED interventions and manipulations, that would not bode well for the future, but in the NEW market era, it would NOT surprise me if the stupid thing opens at NEW ALL TIME HIGHS on Monday, sigh, wad ever, the reason I bring the IWM up is because:


 The NasDOGS, QQQ, look entirely DIFFERENT, obviously the WORST of the majors, they are TRYING to make a SECOND LOWER HIGH, and the low on Tuesday closed right on the low from December, but the tail made a LOWER LOW, so, in, THEORY, if we break that low from Tuesday next week we would be in a confirmed down trend, as IMPOSSIBLE as it may seem.


The $NYAD's are sitting right on the SELL line, AND, they are also trying to make a LOWER HIGH. The GOOD part is that it made a recent HIGHER HIGH and was leading the $NYA to the upside.

The $NYSI is also sitting right on it's SELL line, it didn't even make a higher high than September, and has to turn higher immediately, or that may not be good.


ERY led my 76 markets this week, up 11.05%, meaning OIL went DOWN, PM's did good this week with GDX in second at 9.35%, SLV 4.37%, GLD 2.79%, our best MAJOR market made the first page, TLT up 2.95%, RSX was wilder than a March Hare this week, ending UP 2.84% even after DROPPING  3.67% Friday. Our next best major this week on this page was, aaaaahhhhhhh, hhhhmmmmmm, they are actually on page two, the NasDOGS, QQQ DOWN .31%, then DIA down .40%, then SPY at .57%, with the little guys bringing up the rear, IWM down 1.14%. The more volatile S and P 500 EQUAL WEIGHT was actually down .94% if you want to count them, I do.


Hhhhhmmmm, let's see, let me GUESS who was the leader to the DOWN SIDE this week, hhhmmmm, oh, yea, OIL, with USO down 8.09%, with OIH right there at minus 5.78%, with oil getting it's ass kicked I woulda thunk that transports would have been UP, but I woulda thunk WRONG, IYT was down 2.69%. Europe got their ass kicked this week as well, with VGK down 2.19%, I only bring that up because EEM was UP 1.29%, and I kinda consider Europe to be an EMERGING economy now, sooooooooo..........................
8 ETF's were higher this week vs, 2 last week, 4 lower vs 7 last week, 22 were in a golden cross, 20 SMA above the 50 SMA, vs 28 last week, so that got worse. 64 NYSE stocks finished the week with a PSAR buy vs 60 last wk, 33 with a PSAR sell vs 302, so that was MUCH better, 186 finished at 52 WK highs vs 84 last week, 72 at lows vs 95 last week,


Here's the S and P 500 winners for the week, I guess BSX found the cure for cancer with STZ giving them a lot of their CUSTOMERS by causing cancer of the throat. GGP, at No. 11, was the only S and P stock to close the week with an RSI ABOVE 80. I guess it found the cancer for Detroit real estate.


Here's the loser's for the week, it has all the obligatory energy stocks on it, like RIG, NBR, OKE, DO, RRC, SWN, NFX, DNR, I don't know what oil going down has to do with URI and AVP but they were number one and three on the list, I guess the energy workers are not renting any equipment or buying lip stick for their wives.
46 S and P stocks finished at 52 WK highs vs 6 last week, 5 at lows vs 1ast week, 54 at 20 day highs vs 12, and 11 at 20 day lows vs 7, with 325 with a golden cross vs 377 last week, and 254 stocks closed with an RSI above 50 vs 248 below 50, so just about 50/50 I'd say.


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