Market is "looking very good ".......

Market took many negative news in stride & turned last three days into positive picture.

You may ask... what is this "positive picture"...?

First... market is ignoring many bad earnings report..which is a sign of strong / ascending market.

Second...market is also ignoring many negative news out of China, which is the second biggest economy.All the facts about hotter inflation number did not do any damage....which is another sign of.....

Third..All the major indices have positive CMF....another sign of......

Fourth...All major indices are above 50 DMA..another sign of......

Fifth...RSI in major indices are from 52.15 to 57.00..which means , there is lot of room for it to go to new highs......most indices are within 1 to 3 days of making new highs..another sign of.....

Sixth...Poor VIX...flirting with 52 wk low..went to as low as 14.92 today, closed @ 15.32..52 wk low is 14.86..this is another sign we are going higher.....

I am sure ...you are getting the picture....SIX good pictures are better than thousand WORDS spoken on CNBC.....

OK...so....what to watch for NOW......

It is the earning reports.....which will be in "overdrive" next week.

Monday is C, Tuesday is RVBD,Wed is FFIV & AAPL....some of these names MAY be light in GUIDANCE & MAY selloff...BUT that is your chance to BUY on the CHEAP..depending on your comfort level.

There are many stocks breaking to new highs or near highs. They should be bought in a diversified manner......here is some names for you :

BIDU,LULU,SINA,APKT,ALTR,
ILMN,SPRD,MELI,TIBX,DECK,
CMG,BWLD,PLCM,TSL,NFLX,
BJRI,AMZN,PCLN....

Please make sure that you are comfortable in owning from this set. They are extremely volatile.

My portfolio remains BIDU, LULU & POT.

Good luck with your OWN homework.

BLOG does NOT give buy or sell.

Saleem