Friday New Highs

There were 121 new highs today, here is the list.

These are the top 10 industries in percentage of stocks making new highs:

Name	Stocks	NH	Pct
Farm Products	16	3	18.75
Department Stores	11	2	18.18
Beverages - Wineries & Distillers	6	1	16.67
Cleaning Products	6	1	16.67
Major Airlines	6	1	16.67
Publishing - Periodicals	6	1	16.67
Grocery Stores	19	3	15.79
Drug Delivery	13	2	15.38
Food Wholesale	7	1	14.29
Home Furnishing Stores	7	1	14.29
Housewares & Accessories	7	1	14.29
Lumber, Wood Production	7	1	14.29
Personal Services	14	2	14.29
Specialized Health Services	14	2	14.29

These are the high volume advancers and decliners from the relative strength list.

Advancers				Decliners
Ticker	Relative Volume	Change		Ticker	Relative Volume	Change
CSIQ	2.63	5.05%		WCRX	1.75	-0.20%
TSLA	2.82	4.69%		P	5.45	-4.25%
WWAV	5.72	4.10%		AMBA	1.5	-4.32%
WFR	1.94	3.33%		MNKD	2.22	-4.38%
YY	1.87	2.40%
BMC	2.92	0.66%
RH	1.53	0.13%

I will have complete earnings summary this weekend, and the price relative scan on Sunday. I am planning an extended post on the price relative scan on Monday, but am not sure I will be able to yet.

Friday Weekly Charts

Sometimes I wish there was something besides pivot points to talk about on Fridays, but it os pretty obvious that the story of the day is just that. For the 3rd time this year, the monthly R2 pivot point did not stop the advance of the market (in fact, this month it didn'e even slow it down), but now it appears to be support. That means, with 4 days left in the month, we are probably unlikely to go below R2, and even if we do, there is another pivot point right below it. Chances are we will start bouncing up from here.

Change the monthly pivots to the yearly pivots, and we have nearly the identical situation on the weekly chart. While it is unwise to assume hat R2 will be support all year, for the time being it sure looks like it will be. One thing of note is that the high was nearly exactly equal distance above R2 as R1 is below R2. The may be coincidence, but then again, it may not be.

The Nasdaq cam up to hit the R2 pivot dead on, and then started to drop. I do not believe that is coincidence. First line of support is the 10 week average, but R1 is right below that, but I;m not too sure we need to worry about support just yet.

The Dow industrials paused at R2, then marched right up to the point equally above R2 as R1 is below R2, but passed it slightly, and is actually just a hair above it now. At some point we may get a pretty good idea just where resistance will be on those rare occasions that the annual R2 is broken: we may be finding that point about now.

The Dow transports have had me baffled all year, and this week is not exception. It looks like it has found next resistance, just about where I would suspect it to be. What happens now I won't even try to guess.

Even the Russell 2000 has broken R2, which now makes it support. I suspect, at least for now, that that support will hold and we will begin another move up, which may begin as early as next week.

The market is behaving sort of the way I would expect it to, but this year has been very strange, and boundaries that the market normally respects are being ignored. The market is overdue for a sizable correction, but I don;t think we are going to get it quite yet.

I will have the new highs update shortly.

Market Leader Performance

Ticker	Performance (Week)	Relative Volume	Change
BYI	6.50%	0.82	0.48%
STX	5.91%	0.44	-0.53%
TOL	4.07%	0.96	-2.47%
PNRA	2.78%	0.51	0.14%
WLK	1.91%	0.39	-0.65%
CSTE	1.33%	1.34	1.28%
KORS	0.91%	0.56	-0.17%
NUS	0.39%	0.53	-0.60%
MELI	-0.07%	0.58	-2.11%
HCI	-0.12%	0.37	-1.16%
LYB	-0.42%	0.51	-0.23%
LULU	-1.01%	0.29	-0.27%
UTHR	-1.27%	0.86	-3.03%
FOSL	-1.64%	0.45	-0.90%
LL	-1.68%	0.41	0.12%
PRLB	-1.86%	0.35	-1.26%
SODA	-2.62%	0.48	-1.16%
STMP	-4.26%	0.35	0.23%
CYOU	-5.01%	0.4	0.69%
GMCR	-8.26%	1.37	-2.25%

Here is he performance for the leadership list for the last 5 days, nit including today, along with today's relative volume and change.

Early Industry Leaders

Name	Stocks	NH	Pct
Major Airlines	6	1	16.67
Home Furnishing Stores	7	1	14.29
Meat Products	9	1	11.11
Publishing - Newspapers	9	1	11.11
Broadcasting - Radio	11	1	9.09
Department Stores	11	1	9.09
Water Utilities	12	1	8.33
Drug Delivery	13	1	7.69
Apparel Stores	41	3	7.32
Personal Services	14	1	7.14
Catalog & Mail Order Houses	15	1	6.67
Pollution & Treatment Controls	15	1	6.67
Farm Products	16	1	6.25
Grocery Stores	19	1	5.26
Oil & Gas Pipelines	38	2	5.26
Personal Products	19	1	5.26
Technical Services	22	1	4.55
Drug Manufacturers - Major	45	2	4.44
Resorts & Casinos	23	1	4.35
Waste Management	24	1	4.17

Here are the early industry leaders in percentage of stocks making new highs.

Market Watch Game Update

Here is the Market Watch Game update for this week. This has been a very frustrating week: on Monday and Tuesday I had made quite a bit but in both cases the gains were wiped out by collapses in one stock. On Monday it was POWR, which had been giving me warning but I still waited to long to dump it. On Tuesday it was ALK, which gave no warning. Since then I have been wildly fluctuating, but I did expect that, and I am using the drops to add.

Ticker	Price	Shares	Buy Date	Position	Sell Price	Sell Date	Gain	Percent
CSU	25.77	200	05/02/13	5154	25.9		26	0.50%
VRTS	203.04	25	05/03/13	5076	235	05/22/13	799	15.74%
PKY	18.84	300	05/07/13	5652	17.93		-273	-4.83%
ALK	66.87	75	05/08/13	5015.25	59.92	05/21/13	-521.25	-10.39%
CSU	26.03	200	05/08/13	5206	25.9		-26	-0.50%
PKY	19.03	300	05/08/13	5709	17.92		-333	-5.83%
POWR	14.67	350	05/09/13	5134.5	13.42	05/20/13	-437.5	-8.52%
YHOO	26.24	200	05/09/13	5248	26		-48	-0.91%
PKG	49.42	100	05/09/13	4942	49.13		-29	-0.59%
FLT	84.1	60	05/14/13	5046	81.39		-162.6	-3.22%
ALK	67	75	05/15/13	5025	58.92	05/21/13	-606	-12.06%
EXP	74.14	75	05/15/13	5560.5	73.71		-32.25	-0.58%
YHOO	27.01	200	05/16/13	5402	25.99		-204	-3.78%
ADUS	15.01	350	05/16/13	5253.5	15.72		248.5	4.73%
EXP	76.43	75	05/20/13	5732.25	73.71		-204	-3.56%
GPOR	49.95	100	05/20/13	4995	47.17		-278	-5.57%
PKG	50.21	100	05/21/13	5021	49.1		-111	-2.21%
STRZA	22.86	225	05/21/13	5143.5	22.48		-85.5	-1.66%
EFII	26.5	100	05/22/13	2650	26.63		13	0.49%
EFII	26.55	100	05/23/13	2655	26.63		8	0.30%
ADUS	15.46	350	05/23/13	5411	15.72		91	1.68%
STRZA	22.68	225	05/23/13	5103	22.48		-45	-0.88%

Here are the completed trades and open positions. I now am almost fully loaded up, and am going to be concentrating on adding to existing positions. If this is a short pullback, I am in very good position: if this goes into a correction, i am going to be in a lot of trouble. So far, so good, but I am still not anywhere near even with the market, so I need to start getting into gear.

Today's Buy Candidates

MGA is the buy candidate from last night's price relaive scan, the others are the high scoring 20 day breakouts. We have barely begun a move down and the setups are already looking a lot better.

Today's Pivot Points

Floor		Woodie's		Camarilla		Demark
R3	1678.8	R2	1667.98	R4	1661.49	High	1662.99
R2	1667.15	R1	1660.5	R3	1656	Low	1643.02
R1	1658.83	P	1648.01	R2	1654.17
P	1647.18	S1	1640.53	R1	1652.34
S1	1638.86	S2	1628.04	S1	1648.68
S2	1627.21			S2	1646.85
S3	1618.89			S3	1645.02
				S4	1639.53