Tuesday, July 29, 2014

WEEKLY WRAP




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The $NYAD's are doing the dreaded NON-confirmation, that's where the SPY makes a new all time high while the NAD's make a lower high, this happened in 07' in October of that year. In day's of Yore this was never a good sign, but nothing seems to bother this market in the least.


SUCH AS, the $NYMO, in days gone by when we hit -60 this might tend to signal a slight over sold condition, but in days gone by the FRICKING markets had actually PULLED BACK when we hit that level!!!! Sigh, the markets have actually gone UP as the NYMO has dropped, nothing seems to bother this market in the least.


The $NYSI is still on a screaming SELL signal, and yes, the markets have gone higher during this sell signal, but at least it also did that in March when we got the last sell signal, and the markets went down  after that. You can see in the sell signal in January to February the markets actually went DOWN after the signal, but of course, that was in the days of Yore, nothing seems to bother this market in the least.


China was the big winner in my 73 markets this week, FXI up 5%, followed by TUR, then the VXX, our best major market this week is down toward the bottom, TLT up 1%, they were followed by the QQQ up .65%, and then the SPY, up .00000001%, in fact, my Ninja Trader said they were up exactly ONE CENT for the week.


Our other two major markets show up on the loser's list, IWM down at the bottom at -..55% on the list while the mega cap DIA was the big loser this week, down .83%. Our worst industry was the SMH, up there in third place, down 2.72% for the week.


The number of markets on a death cross, 20 SMA below 50 SMA, increased to 22 this week, not shown on the list is ERY and UNG.


Hahahaha, I was very surprised to see FLS on the winner's list in the S and P 500 this week, up 7.26%, I love the outfit but it was down like over 5% in the after hours Thursday night after it whiffed earnings, I guess you can never count a great outfit down for the count. Another one was WHR, they had a big gap down, whiffed earnings, guided down, and said China was on the verge of complete collapse, they scared "investors" so bad they only sent it up 6.73% on the week, go figure.


A lot of interesting names on the loser's list, maybe the big boys are getting tired of giving Bezo's a pass as they definitely hated AMZN's earnings this time, down like 42 points at one time after the release. CAT said the same thing about China, NFLX and HOG both tried to blame China as well, until people realized they don't sell any thing over there, hahahahahaha! Hmmmmm, evidently CAT doesn't either.

Only two stocks in my 73 markets and the S and P 500 have an RSI 14 of over 80, CAM and KMI. In those 573 stocks there were exactly, ZERO, with an RSI 14 of below 20, which doesn't leave a whole hell of a lot of stocks for true value investor's to pick from.

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