Friday, March 11, 2016

WEEKLY WRAP UP FOR 3/11/2016



(double click for larger view)

The $NYAD remains in great shape, breaking over it's December highs well ahead of the market, putting it in a leading position, which is what you want to see. On the NYSE 144 stocks made new 52 wk highs vs 116 last week and 9 new lows vs 11.
In my market monitor of about 2900 stocks 462 stocks were 4% HIGHER for the week vs 1755 last week, so, by that measure a much weaker performance this week. 


The "Carlucci Indicator" needs four metrics to give a new buy signal after a major market decline, we have three, the weekly STOCH black line is above the red line, the weekly RSI is above 50, the weekly MACD black line is above the red line, the main thing missing is the percentage of stocks above the 200 MA in the $OEX, you need 65% for a new buy signal and we only have 54%.


The only markets NOT on a buy signal, 20 SMA above the 50 SMA, is the dollar and ten year yields. The dollar made a HUGE move down on the Super Mario bull shit, which, of course, is the complete OPPOSITE of what should have happened, but, wad ever.


There are no Bullish Percent indexes NOT on buy.


There are two sectors that are NOT on buy, XLF and XLV, but they are only one more up day away from a new signal. 


EWZ dropped to 7th this week in my 77 markets, up a lousy little 4.68%, EGPT moved into the top country spot at 8.17%, our best major market did not show up on the first page, you had to go to the 40th spot which was DIA, 1.30%, then SPY, up 1.16%, then QQQ at .78%, with the little guys in last place, IWM up .45%. Geeze, I coulda SWORN that with all the yelling and screaming on the Bubblevision channels that our WORST performer had to be like 20+%!!!!!


Here's the loser's, only elven in total but actually four more than last week. I'm actually a little surprised that gold and sliver were down on the week.


Here's the beeg wiener's in the SP 500 this week, I URBN is back in with the IN CROWD, I'm so out of "it" that it's pathetic which is why I don't DO clothing stocks. They beat earnings and then the Cramit guy said it's a new era.

There's about as many methods of judging over bought as there are stars in the sky, or of grains of salt, of which you should take this as one, one method I use just hit an all time LOW, that is the number of stocks in the S and P 500 with an RSI 14 of UNDER 50,  it hit 23 on Friday:


You can see on that list that there is nothing remotely close to it, which, of course, I suppose it can go to ZERO.........

39 S and P stocks closed the week at 52 wk highs vs 18 last week, ZERO at lows vs 2, 208 at 20 day highs vs 269 and ZERO at lows vs 3, 3 stocks had an RSI above 80, URBN, PWR and GPS, ZERO were under 20.


And here's the loser's for the week, again I'm surprised to see energy stocks on the list, I see MOS and V on there again, both of which are companies I LOVE, BUTT, I won't touch either one, MOS mainly because of what the Russians did to them last year.


I'm mentioning the stocks that are on a "BOLLINGER SQUEEZE" this week because of the rather large number showing up, 38, and as always a squeeze simply means a BIG MOVE is coming, it doesn't say in WHAT direction. The chart of AMGN shows the signal in the green box, you can see the move it made off the signal in January, it also has a squeeze on the weekly and monthly charts, SO, it could have a biggie coming...........
Here's the 38 stocks:

ALXN, AMGN, ABBV, ADP, BIIB, BLL, CB, CELG, CMCSA, CVX, EQT, ESRX, GAS, INTU, KMB, LLL, LLTC, MDT, MJN, MTB, MTW, MYL, NVLS, NYT, ODP, OI, PEP, PG, SHLD, SJM , SLM, STT, TE, THC, VAR, WEC, WMT, XLNX.

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