Friday, April 07, 2017

WEEKLY WRAP UP FOR 4/7/2017


(click on image for normal view, I hope)

The $NYSI, at the top, turned up this week, while the $NASI continued to roll over. Roll roll roll your A/D's over, gently against the prevailing chart, the bulls go merrily merrily merrily singing life is but a FED fueled dream, la de da la de da ................


The SPY went dead ass sideways this week, I mean, GOD, what a horrible fricking chart, both the RSI and MACD have been diverging against the side ways action to the DOWN side, which, of course, only means that one of these days we'll get a big cross over and break through those down sloping lines, as the P/E continue on their own merry way to heights unheard of in the sane world .......


We are back to four,$TRAN, IWM,  $CRB and $USD, on sell signals in my 12 major markets this week, 20sma below 50, the TLT and IYR managed to rally back up above the 20sma this week, as 10 year rates went down this week .98%, and in the continuing "weird" columns it gapped way down Friday off the WHORE-rible NON-jobs report, but finished HIGHER, hahahahahaha, its unfricking believable what goes on, I mean, OBVIOUSLY, the shitty report is GOOD as it keeps the rate rachting FED on the side lines, but that means LOWER rates, not higher, sigh, wad ever, it sure was good for gold, which makes sense at least, it was up almost 20 points early as rates gapped down, but went down all day as they went higher, finally finishing only $4 higher.


The all important Bullish Percent indexes are also WHORE-rible, with eight of the 12 on SELL signals, even WORSE is that the $BPSPX joined the $BPNYA and $BPCOMPQ, making all the majors on SELL, and NOT a good sign at all, as OBVIOUSLY a few mega caps are taking the indexes higher as a greater portion of the general stock universe is LOWER. Even with the decent last four weeks in gold the $BPGDM continue to be on SELL, although at least thi8s week it closed higher. Only two of the 24 stocks in the GDX finished lower this week, AGI and BTG, who, or WHOM, ever the hell they are ......... 


The sectors a little change this week, with XLB and XLF joining the sell party with XLE, XRT and XME. I, ALMOST, took a position in XRT, but I forgot about the thing until I wrote this, hahahahaha, it's just as well as it finished down today, maybe I'll take some next week. 


NONE of our majors showed up on the first page of the winners in my 80 markets this week, stuff like oil and PM's were the best sectors this week, which, again, is part of the continuing "WEIRD" in the markets, USO was up 3.01%, GDX 3.02% and GLD .62%, and I guess the only reason was because the dollar was UP .90% on the week, hahahahahaha, so much for THAT correlation BS .......... the big boys, DIA, was the BIG winners this week in the majors, up a WHOPPING .02%, wooo hooo ..............


10 markets closed on new 20 day highs this week vs 5 last week, two of them are continuations from last week's list, ECH and EWW, so obviously they were winners, SMH was the only one down from last week, down .74%, for an 80% win rate.

Only two markets closed on 20 day lows thlis week, DBA, AGAIN, and FXE, three of the eight from last week finished HIGHER,  DIA, XLI and UUP,  IWD, IYT, OEF, SPY, VTI, all continued lower this week for a 62% win rate.  


46 of the 80 markets finished lower this week, IWM was our big loser, down 1.43%, most of it off the Trump humanitarian relief effort of 59 Tomahawk missles, for some, WEIRD, reason SLV was down 1.28% while GDX and GLD were higher, QQQ was next at -.31%, with the SPY being the winner of the losers, only down .23%. 


Here's the beeg wieners in the SP 500 this week, 210of them to be exact, I see why GDX was higher as NEM was in the 10th spot.


Here's the winners of the losers, HPE had an excuse as they had a spin off, AYI had an excuse as well, like, SHITTY EARNINGS!!!

Today, we are excited to share one of Elliott Wave International's latest video interviews, 3 Must-See Charts: Learn What's Next for Europe, where Brian Whitmer, EWI's Senior European Analyst, highlights the precarious position of European stock markets.

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