Friday, July 21, 2017

WEEKLY WRAP UP FOR 7/21/2017


(click on image for larger view, I hope)

The $NAAD, $NYAD, $NAUD, etc etc etc, blah blah blah, all look exactly like last week, just fine, so I'm not into wasting my time copying and pasting crap. 
The SPY closed with a Haning Man on Thursday and a red body Friday, which, in days of Yore, might portend weakness, but in days of FED, portend never ending new ATH's.
We DIDN'T close at all time highs this week, and here's the obvious reason why:


Unlike last week when we did close at ATH's this week we had good economic news, which the market obviously hates, well, it was good accept for the Empire and Philly FED reports, but who cares what the real economy is doing. 


Same three on sell signals in my 12 major markets as last week, 20sma below 50, with GLD, $USD, and $CRB, nothing more to say, it's all just great.  


We are still on four sells on "The all important Bullish Percent indexes", the four are, waaa laaaa, the same as last week, $BPDISC, $BPSTAP, $BPINFO and good old $BPGDM.


Speaking of the miners, GDX closed EXACTLY on the upside target for the "Expected Move" at $22.41, so we escaped another week with a win.


The "expected" move on the upside next week is 23.04 and the lower bound is $21.78, and, like I say every week, I'll continue to sell calls and puts outside those areas until they start taking me out, which they've been getting pretty close to doing.


The sectors continue to be a little shocking as we moved from five to SIX on sell, XLU joined XLP, XLK, XLY, XLE and XRT, actually XLK went to a buy signal on Friday, by, ONE, lousy little penny! But, HEY, I guess every monster move starts with a penny .......


Another strong week in my 80 markets I keep track of, 53 of the 80 were higher, and, AGAIN, only one of our majors made the first page, ann d that was, AGAIN, the NasDOGS, QQQ up 1.4%, IWM was number two at .58%, then SPY at .54%, with the Big Dogs really being DOGS, DIA down on the week .34%.
GDX took the three spot this week but I just don't know how long it can stay strong because of this chart:


The dollar has just been awful, down 8% since the March high, it's in crash mode with the RSI 14 just now getting into over sold territory, the problem is that GDX is DOWN 12.5% in that same time period, I mean, the stinking thing should be FLYING!! What's going to happen to it should the dollar start to rally?? This is not good.

We had 8 markets close on 20 day highs this week vs 35 last week, and shock of shocks IYT did NOT close on a high, it fact it was the 2nd worst ETF this week down 2.79%. 
Of the 35 that closed on 20 day highs last week only seven were lower on the week, for an 80% win rate. Only two closed on lows this week, VXX and UUP. 


27 stocks were lower this week, quite a few of our sectors showed up like IYT, USO, KRE, XLI, XLF, banks struggled as the ten year yield was down again this week, 3.75% to 2.232%. It continues to be fuddle men about the dollar being down on the week AND USO being down, but, never underestimate the power of the FED to totally screw things up ............


Here's the beeg wieners in the SP 500, I have no comment.


178 stocks were lower this week vs 128 last week, these are the worst of the worst... ter's ... my god, doesn't CMG EVER clean their kitchens??

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