Friday, June 09, 2017

WEEKLY WRAP UP FOR 6/9/2017


(click on image for larger view, I hope)

I don't know what to say about the $NAAD's, they did NOT make new highs with the new ATH's on Thursday, and yet they moved higher against the huge down day on Friday, this market is being pretty flaky. 


The $NASI still looks like Dog, but it's improving ever so slowly.
The $NYAD's still look very strong.


We had some green in my Market Monitor on Friday, the good ones are way over on the last two green boxes on the right side, as both the SP 500 and NasDOGS
improved with the advancers even though both were down on the day. Also the green boxes in the center show the strength in the SP 500 despite the down day, unfortunately most of it is due to the fact that the SP gapped UP and then had pretty much a key reversal day to the down side, thus I don't have a lot of confidence of follow through on Monday, although you can never discount Grandma Yellin's printing presses.


We dropped to only three sell signals in my 12 major markets this week, 20sma below 50, that would be the IYR, $USD, and $CRB, we had five last week. GLD and the $TRAN just managed to eek out new buy signals on Friday, and IWM averted disaster by managing to go completely against the markets on Thursday and Friday, even with oil getting crushed, it's a miracle I tell Ya .......


You can't hide the bull shit from "The all important Bullish Percent indexes", as we dropped to only TWO on a buy signal, the good old reliable $BPSTAP, and that was only by 16 cents, and the $BPHEAL was even closer at only four cents. It's just incredible how bad the $BPCOMPQ, $BPSPX and $BPNYA continue to look, and amazing how they continue to go higher with fewer and fewer stocks. 


The sectors continue to look all right, with only XLE, XME and XRT still on sell, XLF is on sell but only by two cents, so with the way Da Boyz on Da Street are buying their own stock to make them look good I figure they go to buy on Monday. 


Two of our majors showed up on the first page of the winners in my 80 markets, the IWM, up 1.26%, and DIA down at the very bottom, up .36%, three of our sectors were the big winners up at the top, KRE, XME and XLF,  XLE showed up in the five spot despite oil being DOWN 3.75% for the week.


22 markets closed on new 20 day highs this week vs 47 last week, the two not shown are XLV and XME,  EWH, XBI, XLV, QQQ, SMH, and IWM were continuations from last week off of the first page, I don't know what the win rate was for the total 47 but for the top 20 there was only five winners for a dismal 25% win rate, the five were XLB,IWM,EWH,XBI and XLV.

Two markets closed on 20 day lows, VXX, AGAIN,  and RSX, the three from last week, VXX, XLE and $USD were all LOSER's for the week, eeeeeerrrrrr, I mean, they all finished the week HIGHER, meaning shorting them didn't work ..


There was 51 loser's on the week out of the 80 markets vs only 21 last week, two of those names on the list were the NasDOGS, QQQ down 2.43% for the week, ALL of it on Friday, and the SPY was down .31%. Most of the loser's were Foreign but XLY, SMH, SLV and SMH managed to make the first page.


GDX finished down 39 cents on the week, all of it Friday, as it fell after Trump was not impeached and May didn't pick up any seats. I don't know what's going to drive it next week, the yellow lines are the "expected", or possible, moves for the week, $23.62 on the upside and $22.01 on the down side, we hit the upper target right on the button at 23.82. I will be selling calls and puts outside of those ranges. 

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. I did notice FCX showed up in the third spot, I might take a look at it if it can continue up a couple of more days and then get a pull back.


Gee minnie Christmas crimminie sakes, have people stopped drinking BEER??? TAP is the winner of the loser's this week.


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