Monday, December 26, 2016

WEEKLY WRAP UP FOR 12/23/2016 Part 2

The 12 major markets added the IYR to the buy signals, 20 sma above 50 sma, taking the buys from eight to nine out of 12, the  GLD, TLT and VWO remain pretty bearish.

The important Bullish Percent indexes added $BPHEALto the buy signals this week, going from nine to ten buys, the ones still on sell are $BPGDM and $BPSTAP. The last one are looking much better as price has moved above both the 20 and 50 and we are only a decent day or two from a new buy. In some thing of a surprise we are starting to see some deterioration in some of the $BP's, like price is moving lower in the DISC, INFO, MATE and ENER, and all the majors, NYA, COMPQ and SPX curled over the last two days.

The sectors on buy signals moved to ten this week, with XLU joining the party, which confuses me as I thought that rising interest rates were bad for the utilities.  XLV and XLP remain the only hold outs, XLP is open away from a new buy.

So, here's the winner's in my 80 markets this week, and again I'm surprised, as we are exactly split with 40 higher and 40 lower. EGPT, which had been getting crushed, had a little move off the bottom, same thing with EWZ, most of the gain was on Friday, in fact ALL of it was on Friday. SMH was our best sector again as hope springs eternal. In another major surprise the   QQQ was our major winner down at the bottom of that page, the surprise being that it was only up .50% on the week. the DIA was next at .43%, then SPY at .30%, with the little guys bringing up the rear with IWM up .10%. Those paltry numbers are exactly how the markets felt last week, and I have no hope that this week will be any better.

Asia did not do well this week as they are highly represented on the first page of the losers with IDX, FXI, EIDO, EPHE, EWT, EWS, EPI, and EWH, our neighbors showed up on the first page as well, EWW and EWC, USO was up slightly on the week so it probably wasn't oil.

Here's the big winners in the SP 500 this week,  288 were higher which is not exactly an over whelming win rate, two of the main reasons for the SMH surge are right at the top in MU and NVDA.

Here's the big losers in the SP 500, BBBY had kind of a shitty earnings report, ditto for RHT, there's a lot of retailers on the list which don't bode to well for Holiday sales.

Geeze, after writing this I feel as flat as the markets, not to much to be looking at.

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