Friday, October 07, 2016

WEEKLY WRAP UP FOR 10/7/2016

(double click for larger image (I hope))
The SPY has an absolutely Bee-You-Tee-Full triangle on it, it's been inside it for 21 days now, we had a bearish engulfing bar on Friday that actually broke BELOW the triangle, for a while at least, and the big orange line in the upper right is sitting above the lighter orange line which is the $NYAD's, which, CLEARLY, show they are getting worse as we move through this triangle. In days of Yore, before Central Bank A-holes were practicing their MASSIVE manipulations, I would say this is pretty bearish, BUTT, I figure Grandma will pump a couple of billion into Goldman and their buddies on Sunday night with instructions to gap us over the upper trend line before the open Monday.


In the red circle we have a BBSqueeze that has just started, two days into it actually, so what does this mean??
It means that we have a, HUGE, move coming. We won't know when, or which way until the BBSqueeze triggers one way or DA udder! The Woodies CCI under that is saying GREEN, but that could change in an instant. A gap outside of the triangle on one side or the other would "probably" give an indication of direction. 


The $COMPQ, IWM, $TRAN, and VWO remain on buy signals this week, 20 ma above 50, with the $CRB and $USD joining them, which, hahahahahahaha, is the STUPIDEST thing I've seen in some time, as it USED to be that the dollar and commodities moved in OPPOSITE, but not any more I guess, sigh!


Only TWO of the important Bullish Percent indexes are on buy this week, $BPCOMPQ and the financials, $BPFINA, pretty weak stuff, it is. 


Only TWO of the sectors are on buy, they are XLK and, NOT, XLF, but XLE, as people buy into their hopes of $150 oil again some day, as if Washington is not going to MANDATE electric cars one of these days! What that tells me about XLF is that the OVER ALL stocks in the index are bullish, AKA $BPFINA, but a few of the big boys are dragging the sector down in XLF, like AXP for one. 


So, here's the winner's in my 78 markets this week, EWZ is just wilder than a March hare, USO is up 10% in two weeks, I kinda think I'll not be chasing it, the dollar was up 1.13%, which blah blah blah about why oil could be up, EEM and VWO were up, which I can blah blah blah them as well as they USED to tend to NOT like a stronger dollar. Financials must like higher oil more than XLE, LOL, as XLF is in 7th spot while XLE is not on the leader board, it was dead flat on the week, 0.00%, they only one in my 78 markets.  


Our majors start showing up on this side of the ledger, the LOSER's side, PM's got slaughtered this week as not only the dollar was up but the 10 year yield was up 7.96% this week to 1.736%, I, ALMOST, bought into the TLT with my mouth watering over those MASSIVE yields, hahahahaha ....... I'm just kidding there. TLT was actually our worst major, down 2.44% on the week, then IWM at -1.11%, SPY down .58%, then DIA -.31%, QQQ -.21%.
I, REALLY, like GDX, about 50% lower ...............


Here's the big winners in the SP 500 this week, I have no interest, I see GS and C like higher interest rates, I don't have them but I do have BAC, it was only up 3% on the week. 


Here's the loser's in the SP this week, SURPRISE SURPRISE, NEM was the big loser, gee, I wonder why it went down, hhhhmmmmmmm........... FCX is down in 15th as I guess copper is considered a "precious" metal now. 


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