Friday, August 04, 2017

WEEKLY WRAP UP FOR 8/4/2017


(click on image for larger view, I hope)

No, this is not last weeks chart, honest, really, it just looks the same ..... the markets are just doggie poop, August is probably a good month to take your vacation with every one else. Actually, this is a little worse than last week, but no problem, the worse it gets the more inclined the FED is to buy every stock in the NasDOGS .....


We still have three on sell signals in my 12 major markets this week, 20sma below 50, it's still the GLD, $USD, and TLT. $USD had a big up day on Friday with the payroll report, if this is the start of an uptrend it all over for gold. IWM remains on buy but looks terrible, $COMPQ had a nice doji right on the 50 day SMA, Trannies finally turned up the last three days, TLT is on sell but price is sitting just above the 200 SMA. 


We moved to FIVE sells on "The all important Bullish Percent indexes", from three last week, $BPHEAL and $BPINDY joined the $BPSTAP, $BPINFO and good old $BPGDM. We are going to find out pretty soon if the  Bullish Percent indexes really are "ALL IMPORTANT", as the $BPNYA, $BPCOMPQ and $BPSPX, currently all on buy signals, are literally CRASHING, meaning they are all being driven higher by just a few MEGA caps, with the majority of the components being on point and figure SELL signals.


We moved back to only two sectors on sell, XRT and XLE moved to buy signals on Friday, XLU and XLP are the only ones on sell. 


GDX closed inside the "Expected Move", AGAIN, this week, so, wooo hoooo, we escaped another week with a win, although "they" made it tough on Friday before just barely closing above the lower range.


The "expected" move on the upside next week is "expected" to be $22.88 and the lower bound is $21.76, and, like I say every week, I'll continue to sell calls and puts outside those areas until they start taking me out.
One thing of note on that chart is we've been making a descending triangle, lower highs since the start of the year, and a break of that lower trend line around $21, COULD, send it shooting lower back to the $12.55 "range" on a MEASURED move from the high in 2016.
It surely won't happen though, right? RIGHT?? RIGHT???


Another decent week in my 80 markets I keep track of, 46 of the 80 were higher vs 52 last week, and, AGAIN, only one of our majors made the first page, and that was, SURPRISE, AGAIN, the Big Dogs, DIA up a massive 1.17% for the week vs 1.16% last week, hahahahaha, I have no idea what happened in Italy and Brazil this week as they were numero one and two for the week, XLF came in third with most of the gain on Friday when interest rates on the 10 year rose 1.75% to 2.267%. You had to go to the third page to see our next major winner, SPY up a paltry .20%, barely a bid ask/spread. You have to go to the next sector to see the other two, that's called the LOSERS section.


We had 13 markets close on 20 day highs this week vs 11 last week, DIA was the leader, and XLF and OEF showed up, I guess our good payroll report made Europe move more than us. 
Of the 11 that closed on 20 day highs last week we only had four winners on the week, for a lousy 36.36% win rate, they were DIA, EWJ, EWP and FXE. Only two closed on lows this week, EIS and FXF, FXF was the only winner from last week with KRE and UUP finishing higher.  


Metals got crushed this week to lead the losers front page this week, the winner was EIS, I have no idea why it got ripped the last few days. Most of the metal damage was done Friday, XBI was down again, IWM was our major loser, down 1.23%, with the NasDOGS just barely making the losers list, QQQ down .13%.


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


254 stocks were higher this week vs 251 last week, which is about, hhhhmmm, aaaahhhhh, close to HALF, I lost my ass in AKS as it was down ONE CENT, sigh, wad ever ................

PPS buy signal for Monday: TUR, IYT, XHB, UUP

PPS sell signal for Monday: GDX, GLD, XLP, FXE

Negative MACD Cross: XLK, EWA, XLY

Positive MACD Cross: EGPT

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