Indices closed UP .85% to 1.81%...NICE !!!

 Indices recovered from Fed statements and started buying stocks @ bargain prices.

S&P 500 @ 5064.20, high 5073.21, low 5011.05

RSI @ 47.07

Internals were :

UP volume led by 3.21 to 1 in NYSE & 2.57 to 1 in Nasdaq

Advancing stocks led by 3.63 to 1 in NYSE & 2.29 to 1 in Nasdaq

Net new highs were leading by 83 in NYSE & lows by 24 in Nasdaq

VIX down 4.61% @ 14.68

Oil @ $78.95

Gold @ $2309.60

Canadian $ @ .6298

Portfolio AMD GOOG INTC META MSFT NVDA SHOP BTCC SOUN

It is all about jobs data @ 830 AM, hoping for an inline or softer data.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices were all over the place, sharply UP & losing all gains. Fed statement & Fedspeak was quite hawkish...

S&P 500 @ 5018.39, low 5013.45, high 5096.12

RSI @ 41.54

Internals were :

UP volume led by 1.18 to 1 in NYSE & 1.43 to 1 in Nasdaq

Advancing stocks led by 1.38 to 1 in NYSE & 1.50 to 1 in Nasdaq

Net new highs were leading by 16 in NYSE & lows by 50 in Nasdaq

VIX Down 1.66% @ 15.39

Oil @ $79.00

Gold @ $2312.70

Canadian $ @ .6235

In my portfolio...Added 100% BTCC.TO @ $10.78 in Toronto

Portfolio AMD GOOG INTC META MSFT NVDA SHOP SOUN BTCC

Hopefully there may be " rethink " about Fed...and may see green Thursday...

BLOG does NOT give buy or sell.

Saleem

Indices closed down 1.49% to 2.09%...

 Indices were under selling pressure due to fear of inflation and potentially hawkish Fed statement.

S&P 500 @ 5035.69, low 5035.31, high 5110.83

RSI @ 43.12

Internals were :

Down volume led by 7.53 to 1 in NYSE & 1.92 to 1 in Nasdaq

Declining stocks led by 4.60 to 1 in NYSE & 2.56 to 1 in Nasdaq

Net new highs were leading by 57 in NYSE & lows by 66 in Nasdaq

VIX UP 6.68% @ 15.65

Oil @ $81.93

Gold @ $2303.90

Canadian $ @ .6249

In my portfolio...Bought BTCC.TO in Toronto @ $11.34

Portfolio AMD GOOG INTC META MSFT NVDA SHOP SOUN BTCC

It is all about Fed statement @ 2 PM, hawkish insert may put more selling pressure....Sell in May could be a reality this year.... AMD earnings did not impress AH crowd....

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .32% to .70%...NICE !!!

 Indices closed UP as yield went down.

S&P 500 @ 5116.17. high 5123.49, low 5088.65

RSI @ 51.60

Internals were :

UP volume led by 2.41 to 1 in NYSE & 1.92 to 1 in Nasdaq

Advancing stocks led by 2.72 to 1 in NYSE & 1.63 to 1 in Nasdaq

Net new highs were leading by 119 in NYSE & 11 in Nasdaq

VIX Down 2.40% @ 14.67

Oil @ $82.63

Gold @ $2357.70

Canadian $ @ .6344

Portfolio AMD GOOG INTC META MSFT NVDA SHOP SOUN

50 DMA is being taken out slowly, today it was SMH....next could be Nasdaq...which will repair lot of technical damage...

BLOG does NOT give buy or sell.

Saleem

US stock market & Fed policy statement.....

 US stock market staged a much needed rally which repaired most of the technical damage on Friday.

All is not conquered yet, 50 DMA is staring @ us in all Indices....

Fed policy statement on Wednesday will overtake any gains ...

I expect Fed statement to be hawkish & Q&A to reflect hawkish tone...

Any progress in Technical picture of market will be challenged by Fedspeak

Reaction to Fed statement & Q&A...can be troubling again...

It IS important to protect gains knowing what IS coming on Wednesday 2 PM....

As to the overall tone of this market....It remains " earnings driven "

2nd half of 2024....is going to be robust in price gains...

AI will accelerate into " major phenomenon "

AI winners & losers will be known by 2nd half....

Gold & commodities along with Energy are doing well.

It IS better to diversify away from overweight technology to reflect strong sectors in your portfolio...

Recognizing new strength IS key to success on Wall Street...

Thus its time to go back to homework & do your own due diligence...

2024 is getting tougher to make money unlike 2023.....

Good luck with your own strategy & comfort level.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .40% to 2.03%...NICE !!!

 Indices closed UP near high of the day. GOOG earning report lit fire in all AI names, even META closed in green.

S&P 500 @ 5099.96, high 5114.62, low 5073.14

RSI @ 49.75

Internals were :

UP volume led by 1.76 to 1 in NYSE & 2.00 to 1 in Nasdaq

Advancing stocks led by 2,25 to 1 in NYSE & 1.84 to 1 in Nasdaq

Net new highs were leading by 78 in NYSE & lows by 29 in Nasdaq

VIX Down 2.21% @ 15.03

Oil @ $83.85

Gold @ $2351.90

Canadian $ @ .6316

Here is my portfolio weighting :

SHOP       24.56%

NVDA      22.40%

MSFT      11.16%

GOOG     11.16%

INTC         9.58%

AMD         9.07%

META       8.22%

SOUN      1.46%

Next post by 6 PM on Sunday.

BLOG does BOT give buy or sell.

Saleem 

Indices closed down .46% to .98%...

 Indices closed down but recovered nicely from low of the day despite higher yield.

S&P 500 @ 5048.42, low 4990.58, high 5057.75

RSI @ 43.37

Internals were :

Down volume led by 1.37 to 1 in NYSE & 1.25 to 1 in Nasdaq

Declining stocks led by 2.30 to 1 in NYSE & 1.98 to 1 in Nasdaq

Net new lows were leading by 13 in NYSE & 163 in Nasdaq

VIX down 3.76% @ 15.37

Oil @ $83.57

Gold @ $2342.10

Canadian $ @ .6303

Portfolio AMD GOOG INTC META MSFT NVDA SHOP SOUN

AH ER were stellar from GOOG MSFT & SNAP ...other AI related stocks were flying in AH also...

BLOG does NOT give buy or sell.

Saleem