Friday, May 06, 2016

WEEKLY WRAP UP FOR 5/6/2016



Both the $NYMO and $NYAD went on sell signals this week, the $NYHL and $NYSI remain on buys. The $NYAD, at the bottom, is trying to WHIP SAW like it did in early April, so I'm not to wild about the signal, especially since it's not doing a DIVERGENCE like it did a year ago, when we made new price highs in May but a lower high on the $NYAD's.


 The only markets NOT on a buy signal, 20 SMA above the 50 SMA,  continue to be the $USD and interest rates, $TNX, however, price action in $COMPQ, $TRAN and VWO has them falling BELOW the 50 DMA, and both the SPY and IWM made great saves Friday as they fell right to the 50 and bounced, I can imagine the bull's would like to see them hold that MA.
182 stocks on the NYSE had new 52 wk highs vs 75 last week, 27 stocks made new lows vs 8 last week, 75 stocks were on PSAR buy signals vs 42last week, and 96 were on a PSAR sell signal vs 106 last week, over all the numbers were much stronger than last week. 
In my market monitor of about 2900 stocks  306 stocks were 4% HIGHER for the week vs 278 last week, and 812 were 4% lower vs 608, 100 hit 52 wk highs vs 63 last week and  50 stocks hit lows vs 5 last week. Kind of mixed but the 812 4% lower vs 306 higher is concerning, that's two weeks in a row that's happened .. 

ONE bullishp percent index went on sell this week, $BPDISC, one is within a gnat's ass, $BPINFO, and STAP doesn't look that great.


ONE sector went on sell signal this week, and no, it's not one of the BP's above, it XRT, but don't worry about it, it's just retail, Ya Know, the consumer makes up 70% of our economy type thing, nothing to look at there, just keep on moving.....


I kind of missed it this week in my 77 markets, only 12 were HIGHER, hhmmmmm, surprised me, and really, none of them were really big winners, I have NO IDEA why real estate was flying, IYR up 3.87% for the week, there's probably a simple explanation if I gave enough of a damn to look, the other defensive names were higher as well, TLT and XLU. The NasDOGS were our major market winner's for the week, QQQ down .13%, then DIA at -.14%, SPY -.30%, all of them like rounding errors on a daily chart, IWM went from first to worst for the week, down 1.4%.


The loser's were obviously Legion this week with 65 of the 77 markets being DOWN, boy, OIH got pasted, down 7.39%, I would have thunk the UUP would have been up by more than .91%, that's a pretty bad week when the number 20 on the list is down 3.82%, we sure are lucky we have a payroll report 23% WORST than "expected", hahahahahaha, it was just BAD enough to get our markets higher with the idea of keeping the FED on the sidelines and the FREE money flowing to Wall Street........................


Here's the beeg wiener's in the SP 500 this week, the energy stocks kind of disappeared this week, JEC was up on an earnings beat, AND, a new $400+ contract from us tax payers, might be interesting.

17 S and P stocks closed the week at 52 wk highs vs 15 last week, there was 32 at 20 day highs vs 110 and 106 at lows vs 47 last week, as you would expect the numbers were weaker, 6 stocks had an RSI 14 above 80 vs 4 last week, and three stocks showed up under 20, 270 stocks had an RSI above 50 vs 360 the prior week.

Some interesting names on the loser's list, BUTT, I-I-I-I..... DON'T, think I'll be taking CHK into consideration, not with a stock price of 4.59 and a loss of $22.44, FCX was just starting to POSSIBLY look interesting, but then rallied 4.43% Friday, I'm starting to look at Alkie, AA, again, $10 is HUGE. 

1 Comment:

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