Friday, February 03, 2017

WEEKLY WRAP UP FOR 2/3/2017


(click for larger image, I hope)

The $NYAD's at the bottom look just great, they are "LEADING" the market, making new highs while, UNFORTUNATELY, the $NYA did NOT make new highs, but it's GOOD to have the $NYAD's leading.
The Edward R Murrow of the story is the NasDOGS, as they are doing the opposite, the index made new ATH's while the $NAAD's continue to go side ways.
I have no idea how this resolves, but I have to assume if the $NYAD's continue higher they HAVE to drag the $NAAD's kicking and screaming higher with them. 

No charts this week, no need for them, they are the same as last week, that is, very possibly the most over bought pieces of shit in the history of mankind, but, sigh, wad ever, they can stay that way for long periods of time. That's the FUN in "investing", that is, buy this sucker HIGH, and pray to god you can find some one stupid enough to buy it from you at higher prices, wooooo hooooo! Luckily for us, one is born every minute ........

All the Candleglance charts are the same as what I posted on Wednesday, or yesterday, I forget when it was.

Here's the beeg wieners in my 80 markets this week, TUR was the winner because, and I kid you not, of this:

Turkey: After Debt Downgrade, Stocks Rally

So, if Trump can just get S and P and the rest of them to down grade out debt to junk, wooooo hooooooo, GDX was in the 2 spot, going to Da mooon this week and , sigh, with out ME, booooo hooooo, snif snif ............ yea, I screwed up, I'll never, EVER, get another chance to buy it at better prices, NEVER!
You MAY notice that after all the yelling and screaming today over the greeeaaattt jobs lies from the BLS-BS (BULL SHITERS), none of our majors are on the first page, you had to go to page two for our winner, and that was the little guys, IWM up a WHOPPING .50% for the week, and that's after a 1.53% gain on Friday, then you had to go to the third page for the second place index which was SPY, up an even more mind boggling .16%, and THEN you had to go to, aaaaahhhhhh, eeeeerrrrrrr, hhhhmmmmmmm ..............


You had to go to the loser's pages to find our other "majors", the NasDOGS, QQQ, were down .10% on the week and the Big Dogs, DIA, were down .12%, even after a .90% gain on Friday. Speaking of the DIA, we are a few points away from new ATH's and up there in the numero doces slot is the IYT, Transports down 2.18% on the week, meaning we are working on a possible DOW Theory NON-confirmation. Of course, I have NO doubt that Da Boyz will take care of that in short order, BUTT, some thing to keep an eye on. 
Speaking of NON-confirmation, EGPT in third spot is just a NON, period!

At one point on Friday the $TRIN was 1.68, meaning they were selling the shit out of the rally, interest rates were 2.68% LOWER, meaning the smartest guys in the room, the Bond Vigs, thought the report sucked, gold was 4 points lower, and the dollar closed flat, which it SHOULD have shot higher on the grreeeeaaat report ............ and then some stinking FED A-hole came out and made some stupid comments about things being so great they MAY MIGHT SHOULD OUTTA COULDA WOULDA raise at the March meeting, and for some insane reason traders thought that higher rates was GREAT news ...........


We jumped from 10 markets closing on new 20 day highs last week to 15 this week, IE, the "TURTLE" buy signal. From the signals last week FIVE were on the first page of gainers this week, and only one finished lower for the week, EWH down .19%.


"Here's the beeg wieners in the SP 500 this week, I see nothing I'm even interested in glancing at."
Ditto for this week, again and yet again, and even MORER again, they are "probably" all earnings related, and I don't DO earnings, so..............  


Here's the big losers this week, although its blasphemy to even mention that word, and in the famous words of Gale Sayers at the end of the movie "Brian's Song", "I LOOOOOVE PBI" ................... although I have to admit I kinda LOVE FLS down in the 20 spot even more, especially around $35 ......

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