Friday, October 21, 2016

WEEKLY WRAP UP FOR 10/21/2016


The SP 500 remains on a Dave Landry "Bow Tie" sell signal, in the red circle, especially coming off of all time highs. I will not buy this until we get back over the highs, or some other weird situation happens, I, CERTAINLY, am not buying it because of the election.


We had a huge divergence on Friday, I mean besides the INDU and SP 500 being down while the NasDOGS were higher, the $NAAD's were negative, very unusal stuff, most of the up in the NasDOGS is because of MSFT being up 5%, although it's surprising that it wasn't enough to get the INDU positive, as 20 stocks, or 2/3 of the index, was in the red Friday. 
When this situation has happened in the past the NasDOGS have lost about 90% over the next 90 days, but since "THIS TIME IS DIFFERENT", because of the "CBB's", Central Bank Bastards, they will probably be UP 90% over the next 90 days. 

The $NYAD's bounced back to buy this week while the  $NYMO is on sell signals, the $NYSI and $NYHL remain on buy on the "cumulative" charts. The $NYAD's bounced early but dropped the last two days, a lower day on Monday would bring up the possibility of a LOWER high. The stocks above their 50 DMA in the SP 500 and $NYA are punk, 34.6% in the SPX and 39.53% in the $NYA. It wouldn't exactly be a super strong signal for the indexes to climb back to the new ATH's and less than 50% of their component stocks are above their 50 DMA's. 


We lost one this week, the IWM dropped to sell, which leaves the $COMPQ, $TRAN, VWO, $CRB and $USD on buy signals. I was going to rant again about the dollar and the CRB going higher together, but it's kind of not true. The dollar went higher from July of 14' into March of 15' while the CRB dropped, the CRB continued to drop into 2016 while the dollar went side ways. The CRB then rallied out of February with the stock markets while the USD dropped. We had a whip saw in July but since August both have gone higher, so some body is going to cave in sooner or later.




 The all important Bullish Percent indexes moved around this week, the ones that have been positive, $BPCOMPQ and the financials, $BPFINA,went into sell signals this week, unbelievable as it may seem. I say that only because every one in the MSM can't seem to sing the praise of the banks enough.   On the positive side, as mentioned last week, $BPINFO and $BPENER moved into buy signals.
It's so funny to look at the $BP charts up there of the $BPCOMPX and $BPSPX and then look at the index charts, hahahahahahaha, wow, what a difference, there's a lot of weakness under the surface here. I mean, like I've said before, if it wasn't for the CBB's .........................................


AS I SAID LAST WEEK: "Only ONE of the sectors is on buy, the most hated sector of last year, that being XLE". 


So, here's the winner's in my 78 markets this week,we went from 17 last week to 62 this week, quite a turn around. I had a position in GDX from the last month, but the options were to far OTM to do me any good and they expired this week, so I wasn't watching it, I, MAY, start a new position, MAYBE. I didn't lose much, if any, as I do all vertical speads, like Al Davis said, go vertical baby, go vertical!
None of our majors showed up on the first page, it was all most all foreign stuff. I wasn't listening to the MSM so I don't know if they were yelling and screaming or not, I, DID, however, hear Bloomberg say it was the best week for the SPY in a month, HOWEVER, what they DIDN'T say was the TLT beat the shit out of them, up 1.31% to the SPY's FAAAANNNNNNNNN ........... tastic, .40%, hahahahahahaha, the MSM is as biased in stock reporting as they are in the election. The NasDOGS were the winner's, up .86%, ALL of it due to Mikey, then IWM .53%, SPY and then the wiener dogs for the week, DIA DOWN .04%, even with MIKEY!


VXX didn't bask in it's glory very long, going from first to worst in one week. I heard Bloomberg say UNG was down because of possible warm weather, that's funny because I heard them say last summer that it was UP, BECAUSE, of warm weather. Housing did lousy again, XHB, XLI, XLP and IYT were other sectors that were lower on the week.
I'm adding EUFN to my market list, that a European bank ETF, a buy on Bloomberg said it was going to go up 50% over the next year, yep, that's what he said, it's got a head start as it was up 3.42% this week. Be careful, it's a little loooowwwwww volume thingey. 


Here's the big winners in the SP 500 this week, I have only one comment, CF went up EVERY day, because S and P came out on Monday and down graded it to JUNK status ............... I kid you NOT! RIG was another monthly option spread thiney I had that came up short, sigh, I hate monthly expiration's, at times ..................... HOG was higher because it's earnings were 60% lower than last quarter and 5 cents lower than the year ago quarter, but at least they MET the damn estimates, yes they did by god by god .........
MCD beat the heck out of earnings, yes indeedy .............


Here's the loser's in the SP this week, I'm surprised at EBAY, TRV, MCO, KSU, T and INTC, shame on them ...............

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