From:                              Jackie Ann Patterson <jackiep@backtestingreport.com>

Sent:                               Friday, August 24, 2012 9:32 PM

To:                                   jtester@ownmountain.com

Subject:                          [Weekly] Losing Steam MACD Div Alerts

 

Hi Platinum Sampler-

Aug 24, 2012 Market Status Video (platinum only)

120824 Commentary :start

The indices remain near their highs -- largely due to an up day on Friday.   Otherwise SPY and DIA spent most of the week marching downward under MACD Histogram negative divergences while IWM got the full whammy with both MACD lines and MACD histogram negative divergences.   QQQ treading water based on AAPL strength.

Breadth, as measured by McClellan Summation Index remains in slight negative divergence.

Several DJ sectors weekly negative MACD Histogram divergences.  Hard to get excited about it when they all had up days on Friday.

FAZ (bearish financials) is the lone ETF with weekly positive divergence.  A bigger list of ETFs with weekly MACD Histogram negative divergences, mostly among dividend funds but only PEY also has MACD lines neg divs. 

UUP (US dollar) makes a daily positive divergence after dropping unceremoniously to its 200-day MA.  On the flip side, GLD broke out of its trading range to the upside.  (disclosure: i am long gold.  go GLD!)

Few big names among the individual companies with divergences.  CMCSA (comcast cable) with persisting weekly negative divergences which go with the negative divergences in the US media DJ sector.

What remains positive is the nearness of the election, which could play a role in buoying the market in the face of these divergences.

ETF Rotation still shows SPY and TLT as the Top 2 funds of our portfolio of six.  I have shifted my rotation portfolio to follow the strategy outline in last week's rotation video.

The Divergence Count Indicator (DCI) appears to be right on the cusp of a new signal.   The number of positive divergences have fallen almost to the point where the window of buying opportunity is deemed closed.  Stay tuned.

The 60-min intra-day scans charts started the day with positive divergences but ended the week with few divergences of either sort. (platinum only)

 

In Futures, YM (Dow e-mini) made a weekly MACD Histogram negative divergence.  The MACD lines are still pointed upwards but clearly at a much lower level than previous highs.   It won't take much of a downturn to make this a full-blown MACD lines negative divergence. (platinum only)

 

tags: SPY,TLT,DIA,IWM,QQQ,AAPL,FAZ,PEY,UUP,GLD

:end commentary

 

<links to files go here>

Best wishes for your success,

   Jackie

 

-----

Jackie Ann Patterson

Editor, BackTesting Report 

 

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