Friday, March 10, 2017

WEEKLY WRAP UP FOR 3/10/2017


(click on image for normal view, I hope)

Back in November I gave an "extension" target for the SPY of $230, well, we've obviously passed that ancient history, so let's get some new ridiculous "targets". 
The new target is the top number in the upper right corner, $253.33, and I have absolutely NO DOUBT that we will reach it, mainly because of this:

We are only .77 away from passing 1929 as the second most over valued piece of shit in the HISTORY OF MANKIND, lagging only behind the Dot.Com POS in 2000, woooooo hooooooo, so says the A-holes at the FED as they make "investors" throw caution to the wind and chase the POS, wad ever, that's the Shiller P/E. 
The red circle shows a SELL signal on the MACD, but I wouldn't worry about it:


Because on the Monthly chart we just got a BUY signal, and the last time this happened, in the green box on the left, the SPY went up 73 points from $139 to $212, or 48%, so lets see, hhhmmmm, if we got up 48% from here, AND, earnings actually FALL as they are expected to, we JUST might pass the DOT.COM POS in valuations, woooooo hooooooo, again .............



Luckily both the $NYAD's and the $NAAD's absolutely sucked this week, I say luckily as that will give the FED more ammo to raise rates, as they trap some idiots who still think that breath matters, I noticed in the Q's that they went up the last three days and in two of those three days the ADVANCING stocks were like 26%, hahahahahahahahahahahahahaha, wooo weeee, now that's good stuff, it is .............


My 12 major markets remained about the same, the $CRB and TLT are the only two on sell signals, 20sma below 50, the dollar actually went UP into a buy this week, $USD, although it got CRUSHED on Friday, which is HILARIOUS as we get a blow out payroll report and interest rates went DOWN, which fits with the lower dollar but NOT the report, IE, those two "should" have gone to Da moon, what was even funnier was the $CRB, Oil and earlier in the day GOLD all went DOWN with the dollar, I mean, just crazy shit maaaaaannnnnn.
So there's now no doubt in my mind that next week, when the FED's RAISE rates, that the Ten year yield will go HIGHER, no doubt at all ...............

GLD was positive Friday but still looks like DOG, along with IYR, but they both have quite a ways to go for new sell signals.


Hahahaha, talk about your BAD breath, it really shows up in the all important Bull Percent indexes as we actually got a new SELL signal on, of all things, the $BPNYA, the $BPCOMPQ is still on buy but it's positively crashing on the internals,  some positive news is the $BPINDY went back on a buy signal, while the  $BPENER remained on sell.  
The GDX finished positive Friday but the $BPGDM still looks like DOG, as 22 of the 24 stocks in the index finished lower on the week. 


XLE and XRT were joined by XME in the SELL sectors this week. 


Lot of Foreign stuff in the  winners in my 80 markets I keep track of , 51 were LOWER this week vs 51 HIGHER last week.
 Our major winner made the front page, NasDOGS, or QQQ, at a MASSIVE .28%, and second in our major winners is, aaaaahhhhh, eeeerrrrrr, NO ONE, they're on the next page.


13 markets closed on new 20 day highs this week vs 10 last week, EWG, EWI, EWK, EWP, EWQ, and VGK were all conintuations from last week, and since they are all Europe, I'd say, in my wild sort of way, that Europe is pretty STRONG, right now at least. All 10 from last week finished higher this week, all of them ......... oops, eeeerrrr, well, accept for Mexico, EWW down .85% of the week.

I usually don't mention 20 day lows as there just aren't that many, but there was 11 of them this week, so, you might have some thing to act as a foil against the longs up above. 


Here's the losers and you may notice most of the 20 day low list are on this list, USO, XME, OIH, SLV, DBC, GCC, GLD, GDX, and IYT are all on the first page as the TRUMPED up stocks don't seem to be doing to hot, hhhhmmmm, also not got is that the little guys, IWM, was the worst performer of our majors, down 1.85%, which is probably not good to see the risk ON index being the worst, DIA was down .36% and the SPY .31%. 


Here's the beeg wieners in the SP 500 this week, I have nothing to say about stocks at this point as I'm concentrating entirely on ETF's.


A lot of oil stocks on the losers list, maybe our SOSOTUS will be able to negotiate some nice terms for his former employers.

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