Friday, March 04, 2016

WEEKLY WRAP UP FOR 3/4/2016




(double click for larger view)

The $NYSI and  $NYHL joined the $NYAD and $NYMO on buy signals this week, making it unanimous, so there will be no further mention of them until a new sell signal or divergence ever shows up.  On the NYSE116 stocks made new 52 wk highs vs 71 last week and 11 new lows vs 24.
In my market monitor of about 2900 stocks 195 stocks were 4% HIGHER Friday vs 315 on Thursday, 359 on Wednesday and 480 on Tuesday, so we went lower and lower all week vs the "markets" going higher and higher, always wonderful stuff.


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 50%.


The $TRAN joined GLD and TLT candle glance charts on buy signals this week, the 20 SMA above the 50, VWO also issued a new buy, but that has to be a mistake, right???


It's easier to say which Bullish Percent indexes are NOT on buy, that's $BCOMP, $BPHEAL, $BPINFO and $BPFINA.


Same thing with the sectors, XLK, XLY,  XLF, XLV and XHB are NOT on buys signals. 


I can actually say it this week, EWZ is up on reports that President will be gone soon, that's what they say at least.......

XME is in number two spot this week, up 18.5%,  because we raised tariffs on Chinese steel by 269%, that's what I heard, and then in the same article it said XME was also up because of the "HOPE" of Chinese stimulus, because things are so stinking bad, hahahahahahaha, sigh, wad ever........... XME ran right into huge, and I mean, HUGE, resistance, I mean, WOW, is that obvious or what??!!!! Which means, of course, those Pajama trader's on Sunday night will probably gap us over that resistance and go to Da stinking MOOOOOOOOON! If it CAN get over $20, it really has a VOID, or clear air, up to about $26. 
None of our major markets were on the first page, our winner was IWM,4.39%, then SPY, up 2.74%, then DIA at 2.25%, and in a shocker the QQQ was the big "loser", "only"   up 2.17%.


Here's the loser's, only seven in total, probably an all time record for fewest losers, and all bonds and inverse funds.


Here's the beeg wiener's in the SP 500 this week, I have no idea why CHK is still in the index, but it is.


That little, itsy bitsy teenie weenie bar in the circle on that oil chart was enough to get people just piling in and front running the new bull market in oil, hahahahaha, god, what a crack up, I think 17 of the 20 are oil related. 
18 stocks had 52 wk highs Friday vs 23 last week,  a little strange there I would say, but that's only me, 2 on 52 wk lows vs 2 last week, SYMC and HRB, the same stock closed with an RSI 14 above 80, FOSL,  one was -20 RSI, HRB. Only 44 stocks in the S and P had an RSI of below 50, the record is 37, meaning we are extremely over bought at this early stage.


And here's the loser's for the week, some fairly big names on the list, KR, SYMC, MON, MYL, TXT, DLTR, LLTC, XLNX, ATVI, NKE, only 68 stocks were lower on the week.


Housing: At the Edge of Another Huge Cliff?.


"How likely is a recession in the U.S.?"
Our friends at Elliott Wave International kindly share with us this report from the February issue ofThe Elliott Wave Financial Forecast, their flagship monthly publication.
It tells you about three factors you should be aware of that make a U.S. recession likely.
As usual, the Elliott wave guys give you an unconventional perspective.

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