Friday, October 28, 2016

WEEKLY WRAP UP FOR 10/28/2016



The $NYAD's are on sell signal but are neither leading nor lagging the $NYA index, they are both sitting right on the lows of the last two months awaiting resolution. 


In contrast the NasDOGS look horrible, the $COMPQ is actually in better shape than the $NYA as it's still above the lows of the last two months, but the $NAAD's have completely broken down, very similar looking to what happened in June-July of 2015 before we had a correction. We don't actually have the divergence we had between price and the NAAD's, but we do have a much lower high than we had then, in the lower chart. This happens of course because some of the big caps are doing the heavy lifting while the majority of stocks in the index are going lower. Not a good situation at all.


In years past, my younger and bolder days, I would have been all over a BEARISH ENGULFING bar on the weekly SPY chart, but until Congress kills the FED, or at least gets them out of the market, I may never trade the SPY again. I have more than enough I can do in other areas the FED considers beneath them. 

I drew support lines on the 20/50 charts this week to show the divergences, the $COMPQ is easily the best of the bunch, not having broken the October low and far above the September low. The DIA and SPY are similar, sitting in a range and trying to hold above the October low, the $NYA is the opposite of the $COMPQ, breaking the Sept. low but holding the October low, which also is the dreaded lower high and lower low. The little guys are really bad, breaking both two month lows and having a definite lower low and highs.
The $COMPQ, $TRAN, VWO, $CRB and $USD all remain on buy signals, 20 SMA above 50 SMA.
Things might have been a little different if the FBI had not decided to come clean on a Friday and decide what we already know, that HRC is a criminal. I'm sure that over the weekend the forces of evil will be out in force convincing every one she had, and did not KNOW, about any of it.


Only two of the all important Bullish Percent indexes remain on buy signals this week, $BPFINA, $BPINFO and $BPENER.


We moved to three sectors on buy signals this week, XLE, XLK and XLF. Despite the indexes being lower seven of the 12 sectors were higher on Friday, XLB, XLI, XLU, XME, XHB, XLP and XRT.


So, here's the winner's in my 80 markets this week,we went from 62 last week to 23 higher this week, quite a turn around. None of our majors showed up on the first page again this week, despite rising interest rates XLU and XLP were our best sectors, up .96% and .84%. XLF was on this page as the financials do like higher rates. Commodities got a little lift as the dollar was .36% lower on the week, that European bank ETF I added showed up in sixth spot, EUFN up 1.54% on the week.


The weaker dollar didn't help Nat gas or oil though, UNG down 7.12% and USO 4.09%, strange stuff. More strange stuff, SLV and GLD were both on the winners list above and yet GDX was down 3.29% on the week, hhhmmmm, I no likey when it does that. Our MAJOR loser is on the first page, IWM down 2.51%, TLT 2.15% as the OBVIOUSLY don't like higher rates, QQQ down .89%, SPY down .67%, with the Big Dogs doing some thing they haven't done in a while, winning for the week, UP a MASSIVE .08%, which is 14 cents, or slightly less than the spread a lot of times. 


Here's the big winners in the SP 500 this week, all are probably earnings related so I won't bother going through them.


Here's the loser's in the SP this week, UA may be Under Armour but it's not stock armour, GT is a bad one, they beat the lowered earnings but missed huge on revenue and WARNED about the full year because of weak truck production, hhhhhhmmmmmm, same thing with WHR, very bad FORWARD guidance, so the consumer is not buying trucks or refrigerators, hhhhhmmmmmmmm .......

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