Friday, July 15, 2016


 All the breath "indicators" are OBVIOUSLY on buy signals, so I am not going to waste my time talking about them until they get a divergent change in character.
Since every thing is just fantastic, let me find some thing to bitch about:

(click on chart for larger image, I hope)

We've made all time highs (ATH's) the last six days and yet, YET, the UP/down volume has gone DOWN the last three days. A pretty petty and weak bitch, but a bitch none the less. Also, that IS a "Bearish Engulfing" bar on Friday, but the ROBOT's have had a tendency to make people that short candles like that, regret it.
There's more:

Here's the stat's on my "Market Monitor", all those red boxes at the bottom are "UP" stat's that have actually gone DOWN the last four-five days, especially not good are the 52 wk highs which are the third red box from the left, the Market Monitor with over 2800 stocks in it, the fifth red box which is the SP highs, and the second to last red box which is the NYSE highs.
It certainly probably don't mean diddly squat, but I just find it a bit curious that we keep making new ATH's with FEWER stocks making new HIGHS with the indexes.

The only things NOT on BUY signals this week, 20 SMA above 50 SMA, is the same two as last week, $TRAN and $TNX, although both of them exploded higher this week. 

The Bullish Percent indexes continue to be VERY weak, the $BPSTAP and $BPUTIL, the two most DEFENSIVE sectors in the stock universe, are the only ones on buy signals. HOWEVER, $BPDISC and $BPINFO are within a whisker of new signals.

We had a big reversal in the sectors this week, with the financials, XLF, being the only one still on sell.

And the big winner in my 77 markets this week, besides SURPRISE on my part, was XME, up 7.15%. My surprise is that most of these indexes were not up even more, another surprise was that none of our majors were on the first page, I mean, gosh darn it, what's up people?? The little guys, IWM, were on the second page, up 2.49%, then you had to go to the third page for seond place, DIA up 1.97%, although the TRUE "INDUSTRIAL" index, XLI, was much better at 2.55%, SPY was third (AGAIN!) at 1.50% (.01% LESS than last week, hahaha), and the NasDOGS really were the DOGS this week, QQQ  "only" up 1.36%, which is a measly 70.72% on a yearly basis.
TUR was in 9th, but after hours Friday those nasty military guys attempted a Coup, so TUR will, in the finest tradition of Wall Street, probably go to DA STINKING MOOOOOOOON next week, as they will figure more FREE money from CB's around the world!!!!!!! Much like they figured 84 dead people in Nice will be  "nice" little bump in free money for them next week as well.

 Only 11 markets were lower this week, and in keeping with this stupid ALGO dominated market I could not for the life of me figure out why TLT, GLD, GDX, BND and SLV were LOWER on Friday, as I guess 84 dead people was just not enough to justify running for the exits ........... I guess the ALGO's, if they could talk, would also explain to me how the dollar and oil were both HIGHER on the week, but they can't talk, at least not to me, so it remains a mystery as well ........

Here's the beeg wiener's in the SP 500 this week, and, RATS, my commentary on FCX last week only got it in THIRD PLACE, hahahahahahaha ............... HAH! You'll notice AA down there in eight place, it's there because it's earnings were DOWN "ONE" cent from a year ago and it's revenues were DOWN 18 fricking percent, good job Maaaaannnnnnn, I can't imagine how much it would be up if those metrics had been HIGHER ...
Oh, and by the way, I can tell you that FCX was higher because it's stock price FINALLY got higher than the $12.17/sh they are losing over the last year, wooooooo hooooooooooooooooo!!!!

Here's the loser's, earnings for FAST were NOT, FAST that is, actually, rather slow, TAP got a little tipsy, CHRW wasn't trucking right along, DLR must have been in YEN terms (thanks Gartman, he he), FOSL truly is, a FOSSIL that is, and I could go on and on but I've heard enough myself ...............................

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