Friday, May 05, 2017

WEEKLY WRAP UP FOR 5/5/2017

(click on image for larger view, I hope)

The $NYAD's continue to be just fine, not terrific, just fine, they continue to go higher WITH the market, not leading it, just crusing along with it. The $NYA didn't make new ATH's on Friday so it's ok that the NYAD's didn't either, although I would prefer that they did. 


The $NYSI continues to be just, aaaaahhhh, lousy, setting up negative divergences against NEAR ATH's in the markets. 


In sharp contrast the $NASI continues to look awful, diverging against the ATH's going back as far as last December. Like I say every week, back in the days of Yore, SIGH, this would NOT be a good sign, but who knows in the current conditions.

Here's another one that goes along with the NASI even though it's not directly related, the SPY made new ATH's today but the stocks above their 50 day SMA are about 18 percentage points LOWER than when they last made ATH's on March 1st. This IS related to the NASI in the sense that it shows how, "THEY", are pushing the WEIGHTED indexes to new ATH's with a lower number of stocks using the MEGA stocks to do it with, I read some where that some thing like 10 stocks make up 40% of the gains in the SPX this year. Wad ever. 


We stayed at five markets on sell signals in my 12 major markets this week, 20sma below 50, the IWM and SPY managed to stay or join the buy side this week,  leaving the DIA, $NYA, $TRAN,  $CRB and $USD on sell.


I say "the all important Bullish Percent indexes" every week, but they truly are, important that is,  and they are still showing big weakness with TEN of the 12 indexes on SELL signals, the only two major indexes NOT on sell are $BPDISC (just barely), with GOLD, $BPGDM, joining the buy party this week and $BPINFO leaving last weeks party, $BPSTAP is on sell but very close to a new buy. 


The sectors had a good week gaining two on the buy side, leaving just four on sell, XLE, XLV, XME and XLF. XRT and XLI are the two that moved up.


It was a good week for our markets with the NasDOGS our major leader, QQQ up 1.14%, then then SPY at .68%, then DIA at .33%, but RELATIVELY speaking it was a horrible week as we didn't have one single American index on the first page, it was all European and other Foreign shit, IWM was actually DOWN on the week, a massive .05%, or seven cents, which is probably less than the spread on the bid.


Twenty seven markets closed on new 20 day highs this week on payroll day vs 9 last week, EWD, IWF, and QQQ closed on 20 day highs AGAIN this week, six of the nine from last week were higher this week for a .6666666666666 winning percentage, the three losers were JNK, TUR and XBI.

Only three markets closed on 20 day lows, VXX, EWA and UUP, compared to 2 of them last week, ECH was higher on the week and SLV, well, hhhhmmmmm, SLV:


It was down 4.91% on the week, BUTT, after 13 days in a row DOWN it actually had a POSITIVE day today, which is REALLY strange, for with the GOOD payroll report you would have THUNK that the DOLLAR would have been higher sending the PM's DOWN, but you would have THUNK wrong, the dollar was down. There wasn't much volume on the bar, meaning I don't see a blow off low like the volume we had last December and November, plus I would think we would see that December $14 plus low at some point for a decent double bottom to have your risk set at.


25 of the 80 markets finished lower this week vs 17 last week, which seems a little surprising, Oil had a another down week, USO down 5.66%, just ahead of SLV, GDX, GLD, XME, DBC, GCC, AND UUP all down on the week, TLT is also a little strange as that means interest rates went UP, meaning the dollar SHOULD have been UP as well, which since it WASN'T then all those commodities SHOULD have been UP, but they weren't, so, this basically SUCKS if you ask me ....................... sigh, wad ever. 


Here's the beeg wieners in the SP 500, FSLR had a good report for a change, actually I guess it was the outlook as I heard the first quarter beat on better revenue but lower EPS, so let me get this straight, it projects MORE revenue the next quarter and year, which will result in LOWER earnings ....... obviously I must have that wrong.


Lots of commodity stuff on the losers list, I guess AKAM is a KIND of commodity, like, commo....ITIZED, I keep seeing MOS and I also keep seeing the Russians destroying the thing a couple of years ago, I'm starting to lose a little faith in FCX .............

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