Friday, September 11, 2015

WEEKLY WRAP UP FOR 9/11/2015

 (Click on image for larger look)
So, what that is up there, is the weekly report from LAST WEEK for a technical look at the SPY from http://www.ivolatility.com/, which you can sign up for at that site and get the "FREE" (the magic word!!) weekly report yourself.
Now, I totally AGREE with it, that's just a part of it, but what the basic idea is, is that that was a "CONTINUATION" pattern, IE you get the big drop, then the triangle, then the "CONTINUATION" to the down side. They also concentrated on the last day, Friday, which opened and closed BELOW the triangle, which means the damn thing should go DOWN like crazy next week (which is THIS week)!!!!!!
Now, I don't pay any attention to "technicals" any more, mainly because, THEY NO LONGER MEAN A DAMN THING!!!!!!!!!!!!!!!!


This is the DOW this week, we stayed in the triangle this week, the SPY "looks" the same, both with MACD buy signals, although October is supposed to be a better month to take the signal, more at http://jeffhirsch.tumblr.com/, under the week 38 options post. One reason I'm even talking about this is on Bloomberg's "What did you miss" after the close Friday the talking heads mentioned how nice it was that we didn't get all that VOLATILITY this week .......................... hahahahahahahaha .......... HAH!
Let's see, off that horrible chart at the top the all the DOW did was go up 390 FRICKING POINTS on Tuesday, then it went down 239 FRICKING POINTS with a total range of 444 FRICKING POINTS on Wednesday, with the DIA, SPY, QQQ and IWM all putting on HORRIFIC BEARISH ENGULFING BARS, then off that HORRIBLE BEARISH ENGULFING BAR they did exactly what they SHOULD do, and continued to the.................... UP................. side.............. for the rest of the week, hahahahahaha.........
What a crock of fricking shit, this is why I don't talk about fricking "Technicals" any more.............. THEY DON'T MEAN A DAMN THING!!!!!!!!!!!



Ok, enough huffing and puffing, back to reality, the $NYAD and $NYSI are hanging on to buy signals, but I wouldn't exactly say they are exploding higher.


The bad one is the $NYHL, the markets did not go higher last fall until this thing triggered a buy signal, and not only is it not on a buy, it's still trending to the down side quite a bit.
One thing I have to mention, I mean I don't know if it means any thing for Monday or next week, in my "Market Monitor" of over 3000 stocks on the big UP day on Friday only 69 stocks were up 4% or more while 92 were down 4%, and only 23 made new 52 week highs while 114 made new lows, it was also true on the SP 500 with only 2 making a new 52 wk high and 11 making lows, only 7 made a new 20 day high and 19 made new lows, and on the $NYSE 11 made new highs while 111 made new lows, my personal opinion is that this is just FREAKY? MAAAAAANNNNNN, and, "SHOULD", be BAD, but who fricking knows!! Other stuff included only 33 NYSE stocks having a PSAR buy on Friday with 89 getting a new sell signal, 30 stocks on a new CCI buy with 112 on a new sell signal, shit like that.
By the way, I watched two fairly well know money mangers this week, David Tepper on 'Bubblevision', and Meb Faber on Bloomberg, and both of them, when asked what they thought of the markets, said the volatility is due to the markets being over valued pieces of CRAP, and both of them have taken rather large CASH positions at the current time.
I don't have any such "nice" opinion of the markets, I just report what I hear.......


Here's the candleglance of 12 important markets, only TWO markets are on a Silver Cross, 20 SMA above the 50 SMA, TLT and, unfrickingbelievably, GLD, which doesn't look all that great on that chart, but, HEY, it is wad it is......


And speaking of GDX (I, WAS, wasn't I???), it had a very nice reversal day today and, "SHOULD", go higher next week .......... hahahahahaha, sigh, I especially think it will go higher when we find out the FED Reserve are full of absolute BULL SHIT and DON'T raise rates at the meeting.......


The Bullish percent indexes are, aaaaahhhhhh, meah ........ pretty much nothing, just kind of bear flagging with the markets.


Here's the big winner's in my 77 markets, transports were our best sector, IYT up 2.42%, NasDOGS our best major market, QQQ up 2.11%, then IWM 1.29%, SPY .59% , with DIA in last at .45%, pretty interesting how the risky markets WAY out performed the Big Dogs. China was the big winner this week, FXI up 4.19% because of the awful import and export numbers last weekend, as the COSTANZA markets continue, with BAD really being GOOD.........
I would say look at the second column, Perf Month, and the numbers are so bad in that column that it, "SHOULD", make common sense to see a bounce.


Here's the big loser's, and here's another Bloomberg moment, Meb Faber hates the markets, like I said above, but he LOVES EWZ, FXI, TUR, RSX and EPU, with the talking heads saying he must be CRAZY, hahahahahaha .......... his comment was, well, don't you want to buy things when they are CHEAP????? He did say they should be for people with like a five year time frame.


Here's the winner's in the SP 500, FCX made that monthly move on two days, August 27 and 28th, and has been basically inside those two days since that time. It closed at $11.40 Friday and if it can close above the high from August 28th, $11.48, my guess is that it will see at LEAST $11.49 lickety split ................

Here's the lows for the week, which I guess you might call it the Meb Faber hunting list............
Personally I wouldn't touch coal with YOUR money, like CNX, unless a "dirty" Republican gets the White House from the current renter, if he likes China I imagine he likes WYNN, I talked about JOY earlier this week.

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