Sunday, August 23, 2015

WEEKLY WRAP UP FOR 8/21/2015

Free Report: Pandemonium in the Stock Market

In this just-released report, you'll see new excerpts from our two flagship monthly publications, The Elliott Wave Theorist andThe Elliott Wave Financial Forecast. Get valuable insight into the volatility we saw in the markets this week. We think you'll come away better prepared than most investors.


 (I shouldn't have to say it, but click on charts and tables to enlarge)

There was one market in those 12 above that is on a Silver Cross, 20 SMA above the 50 SMA, that's the TLT, the rest are on Death Crosses, and, EVERY THING, accept for the TLT and GLD, finished lower on the week. This morning (Friday), at one point, ALL those markets were lower, as we were in one of those situations I've seen in the past where every thing goes one way, which is almost impossible until you see it, like the dollar down, AND, gold and oil down, interest rates down, AND, TLT down, etc etc etc, really fun stuff when it happens. 
You won't have to sit through my ragging on the "Breath Charts" any more, the next mention of breath will be if we start getting positive divergences or new buy signals, suffice it to say that the "BREATH" is REALLY bad, but that's to be expected on a 500 point DOWN day in the DOW.............


There's a little divergence in the RS between the four major indexes, the DOW has broken well below it's December low and the SPY is sitting almost EXACTLY on it, while both the NasDOGS and little guys, QQQ and IWM, are still above that low. In the OLD days, before MASSIVE FED manipulations, I would say the odd's favor the leader's playing catch up to the big cap laggards, but I can't say that any more, who knows how bad the FED will panic, and how much printed paper money they throw at the stock markets, AND, if this continues into the FOMC meeting next month there will be NO rate hike, AND, the FED will be effectively boxed in as they won't be able to lower rates, unless they pull a Swiss or Swede thing and go to NEGATIVE rates.
Because of the bastards coming in five minutes before the open and lowering rates in 2008 and screwing me out of all my over night gains (that was with put positions), I DO NOT short any more, instead, I just sit it out and wait for a chance to go long. It's not any fun, or profitable, but it sure saves me a lot of aggravation, yelling and screaming, and mental anguish.
In NORMAL times Asia, SHOULD, sell off HARD on Sunday night, and we, SHOULD, gap DOWN Monday morning, which would, PROBABLY, we a buyable event, but for me I'll wait until a bigger bottom forms.


Even with the huge down day my Market Monitor was a little more positive than Thursday, there were 66 stocks up 4% today vs 19 yesterday and "only" 330 down 4% vs 552 yesterday, that's out of over 2900 stocks. There were some records on that table, the 1819 stocks that were down 4% on the week, the 7 stocks on 52 WK highs, the 38 on 20 day highs, the ZERO SP 500 stocks on a 52 WK high was tied on ONE other day, October 16 last Fall, which was the dead bottom in the SP back then, the 4 stocks on 20 day highs is a record, and for reference there were 16 stocks on 20 day highs on October 16, those 4 were NEM, EIX, HCN and DUK.


Here's the beg wiener's in my 76 markets this week, only 9 and most of an inverse nature, it's amazing to see the FXF and FXE up so much this week, meaning the dollar was DOWN, and our markets not in rally mode, but, that's how Da Boyz on Da Street screw most of us retails, taking away traditional correlations.
Big jump between the last winner, SLV at .41%, and the BEST loser, XLU at MINUS 1.14%, even record housing prices couldn't keep the XHB up this week, which reminds me that I can't believe I heard some one say that RECORD HIGH housing prices were GOOD, it seems to me some one was saying that back before the 08' fiasco.


Here's the big loser's, WOW, some of those udder Worldly thingey's got their asses kicked this week, our major market winner............eeeeeeerrrrrrrr...... loser....... made this page, QQQ down 7.34 stinking percent this week, DIA was next at -5.95%, SPY -5.60%, with the little guys being the big winner, ONLY, down 4.44%, wooooo hoooooo........................


Here's the MASSIVE list of the big winner's in the SP 500 this week, I got tired trying to read through all 15 of them so I gave up...... that 445 stocks that had an RSI of less than 50 on the table above is also a record.


Here's the top 20 loser's for the week, I have no comment, although it does surprise me to see NFLX at the top of the list, especially when you look at that YTD gain of 113.03%.
I just HAVE to comment on DE, as I've been ragging on it all stinking year, I mean, I, LOVE, the company, no doubt, but it just kills me that Da Street acts like it was just totally taken by surprise by the horrible earnings report, but Ya Know, their ANAL-ysts actually had estimates that were LOWER than where the EPS came in, I mean, the f##king stock was UP 12.7% YOY going into this earnings report when they KNEW that earnings were going to be about 38% LOWER than last year and revenues 20% LOWER, just fricking STUPID............. I ahve NO explanation for this kind of bull shit, just incredible. I watch the weekly farm report every Saturday morning and I've been saying for months that Farmer's that were interviewed were saying they may not buy new equipment for YEARS because of the shitty grain prices, I mean, WAD EVER,,, and speaking of the shitty grain prices, when is that dumb ass Congress going to get off their ass and sue Kellogg's and General Mills for their duopoly in the breakfast cereal markets, their prices have not dropped at all, f$$king Washington just kills my ass.................................

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