Friday, June 02, 2017

WEEKLY WRAP UP FOR 6/2/2017


(click on image for larger view, I hope)

I guess its the old ask and Ye shall recieve, I no sooner said it sure would be nice if the NAAD's would start going higher to help confirm the break out and Lo and Behold they did. Massive looking break out, ain't it...............


The $NASI still looks like Dog, but Ya know the $NYSI looks exactly the same so at least the NasDOGS aren't alone in that respect.................


I'd throw the $NASI out but unfortunately there other things just as weak, such as the percentage of stocks above their 50 SMA, it's at 55.92%, I guess that's typical of new ATH's .......... Ya Think!


The cumulative $NYAD's continue to look VERY strong, leading the market higher. 

All the Candleglance charts look pretty much the same as yesterday's monthly update so I'm saving some time and skipping them.


Our majors showed up for one week on the first page of the winners in my 80 markets and then basically left, the NasDOGS were the only major on the first page, QQQ up 1.77%, we did get some strong sectors though like XLY, XLB, XBI, TLT, IYT, XLV, XMH and XLP, even the PM's showed up, SLV and GLD, which makes it kind of strange that GDX DIDN'T show up. Since they've been lagging Da Boyz decided to move the little guys as IWM was in the two spot in the majors, up 1.65% on the week, SPY didn't show up until the third page, up 1.00%, and the DIA was last, up .63%.


47 markets closed on new 20 day highs this week vs 11 last week, this tied for the highest number ever in my 80 markets, that was from January 25th this year, and it resulted in a sharp pull back but it only lasted a couple of days before onward and upward. All 11 were continuations from last week, for a ONE HUNDRED PERCENT win rate, hahahaha, this after the WORST win rate ever last week. Only ONE from last week, EWM, did NOT close on a 20 day high today.

Three markets closed on 20 day lows, two were the same as last week,VXX and $USD, the 3rd was XLE which changed spots with OIH, the mystery continues as the DOLLAR was DOWN on the week .71%, which, SHOULD, have sent oil soaring but instead it was DOWN 4% on the week. At least SLV and GLD acted right showing strength into the weak buck.


There was 21 loser's on the week out of the 80 markets, I have no idea why FinViz shows USO down 1.79% while StockCharts showed it down 4%, RSX was a big loser again, oil related, BANKS were weak this week as 30 year's were down 3.53% and ten year 4.04%, banks don't like falling yields, which with all the glowing adulation for our booming economy begs the question of what the bond market see's that the stock guys don't see.


Here's the beeg wieners in the SP 500, which I only do for those of you that might be interested, I barely looked at it.


AS you would expect there's a lot of oil on the loser's list, poor ole FOSL, at least a brother of theirs beat them out, KORS, I guess FOSL shoppers aren't shopping KORS products either, probably can't afford them.


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