Friday, July 28, 2017

WEEKLY WRAP UP FOR 7/28/2017


(click on image for larger view, I hope)

I was going to show the SPY again this week, but it finished the week higher by 1, that's ONE, ONE STINKING PENNY, SO SCREW IT! That's the $NAAD up there, they actually broke that center low so they've made a lower low in comparison to the $COMPQ, so the index is actually holding up a little better, which is not what you want but it makes the bulls happy campers. The $NYAD, $NAUD, etc etc etc, blah blah blah, kind of all look like the $NAAD's, nothing to look at just yet. 


We still have three on sell signals in my 12 major markets this week, 20sma below 50, but they changed around a little bit, it's still the GLD and $USD, with TLT joining them, $CRB just moved to a new buy signal on Friday. The dollar actually had what looks like a nice bottoming candle on Friday, right around $93 which is prior lows from May and June in 2016. I only mention it because it "should" not be good for gold if it starts to move up. I'm surprised that Europe and other emerging markets haven't been screaming bloody murder at the weak dollar.  


We moved to only three sells on "The all important Bullish Percent indexes", the three are $BPSTAP, $BPINFO and good old $BPGDM, $BPDISC moved back into a buy signal on Thursday and Friday.


Speaking of the miners, GDX closed inside the "Expected Move" again this week, so, wooo hoooo, we escaped another week with a win.


The "expected" move on the upside next week is "expected" to be 23.56 and the lower bound is $22.26, 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. Why try and choose a direction when it makes a dumb ass move like it did after the FED didn't do a DAMN thing other than NOT say they WEREN'T going to continue to RAISE rates, which I woulda thunk was BAD for gold, but I'd a thunk wrong.


There could be double resistance coming up in the next week or two from both the expected move and an upper resistance line coming in from last February.


We moved back to only four sectors on sell, as XLK and XLY moved to buy signals on Thursday and Friday, both XRT and XLE are trying like crazy to move to a new buy signal, while XLU and XLP look like doggie poop. 


Another decent week in my 80 markets I keep track of, 52 of the 80 were higher, and, AGAIN, only one of our majors made the first page, and that was, SURPRISE, the Big Dogs, DIA up a massive 1.16% for the week, replacing the perrenial winning NasDOGS, QQQ, who were actually, GASP, down an equally MASSIVE .19%, losing out to the second place SPY which was up that mind blowing one penny, but beating the poor little guys as the IWM was down .41% which means we don't like risky assets while continually making new ATH's!
Oil was the big winner, USO up 8.89%, because the dollar was higher .04% on the week ......... that's a joke but for some reason I didn't hear you laughing .....


We had 11 markets close on 20 day highs this week vs 8 last week, oil was on the list along with gold and shock of shocks, XLP, watch those staples, there could be some rotation going on.
Of the 8 that closed on 20 day highs last week we had five winners on the week, for an 62.5%% win rate. Only three closed on lows this week, FXF, KRE and  good old UPP, we had 50% winners in the losers last week with VXX up a whopping 9 cents on the week and UUP, eeeeeerrrrrr. NOT, going UUP that is. 


 A few of our sectors showed up in the losers front page this week like IYT (the WINNER of the LOSERS), SMH (surprising!!), XBI, XLV, XME, XHB, XIV, XLU, XLB, XLI, not to mention the small caps and the middies, that's actually more weakness than I thought, hhhhmmmmmm ............
Speaking of IYT, I heard some rumblings that we moved back into a DOW Theory SELL signal, now, it's my understanding we did NOT, the way I read it is they both made new highs in mid July, a DOW Theory BUY signal, and since then the DIA continues to make new highs while the IYT is dumping, so, yea, the Transports look very bad but until the DIA turns around and confirms a new low under like the July lows at least, it's still on the buy signal. That's just my thoughts ...............
Of course, it don't mean diddly squat any way, but it gives the MSM some thing to talk about other than Russia. And speaking of Russia, Jim Rodgers thinks RSX is the buying opportunity of a life time.


Here's the beeg wieners in the SP 500, I have no comment, its all earnings stuff.


249 stocks were lower this week, which is about, hhhhmmm, aaaahhhhh, HALF, it's strange to see STX and WDC on the list because Inky said things are just fricking GREAT! FLS will be a buy one of these days, and what happened to GLW, is AAPL not selling as much junk???


This is my new FUN stock since I don't "DO" AA any more, I watch the comments board on FinVIZ, hahahahahahahaha, what a bunch of A-holes, very passionate crowd they are, they either hate it or love it, I always thought that we are kinda, like, in this together, US against the brokers and ANAL-yst, but these guys seem to like to get personal about it. It is kind of double bottoming in this "area", I saw a LOT of the peeps talking about buying MORE if it got under $5.80, so, well, they get to buy MORE! I only bring this up because the markets will not go down until more people do STUPID things like that!!!!! On Da udder side I haven't heard enough of them asking why it's going down, IE, I'm loaded to the gills and I don't know whether to bail or not!!
It had a good earnings report and their "metrics" "seem" all right, but if it breaks that May low then it's $4, if it breaks that then its $3.50, and below that its $1.50, so people "could" have a LOT of chances to buy more!!
On Da Udder hand if Trumpy bans all imports of steel and makes every thing in America cost more it could go back to $25 lickity split!

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