Here comes May on Monday, 1st day of trading for this much feared strategy "sell in May and go away "......
Generally this fear in market is expected to last till October.....
October is known for many crashes, October of 1987.....
Nasdaq, Sox and Russell have made new all time highs in last 2 trading days....
SO...how " sell in May & go away ".....will work out this time ?
Here is RSI reading on famous sector / index :
Nasdaq 72.87
Dow 60.73
S&P 500 60.57
Russell 57.34
SOX 54.15
As you can clearly see, that Nasdaq is overbought, while rest of sector in this market are not frothy @ all.
Generally when we hit May, there has been frenzied buying buying and most sectors looks overbought, not the case this time.
Based on recent TAPE, it is to be expected, that S&P 500 and Dow are ready to make new all time highs, they are roughly 17 points & 261 points away.....
Based on impending tax and financial reforms, that may add further catalyst to this market.
Earnings have been better than expected, which is another reason why further buying may take place.
Technology sector are clear winner this time around, which is a very good thing for the direction of this market.
An overweight in technology have been saving many portfolios.
AMD , AAPL and FB are reporting on Monday, Tuesday and Wednesday...these reports may push Nasdaq much higher.......
Markets do digest excessive gains every so often by pulling back, but, it is expected, that trend is your friend.......
SO do not sell in May......there is more excitement till October.....
Good luck with your own analysis and comfort level.
BLOG does NOT give buy or sell.
Saleem
Sunday, April 30, 2017
Friday, April 28, 2017
Indices closed down .02% to .19%.....
Indices closed down on weak GDP data in US. Strong earnings failed to turn green even in Nasdaq. Nasdaq made a new all time high @ open.
S&P 500 @ 2384.20, low 2382.36, high 2393.68
RSI @ 60.57
CMF @ -0.085
Internals were :
Down volume led by 1.86 to 1 in NYSE & 1.64 to 1 in Nasdaq
Declining stocks led by 1.60 to 1 in NYSE & 1.76 to 1 in Nasdaq
Net new 52 wk highs were leading by 124 in NYSE & 103 in Nasdaq
VIX UP 4.44% @ 10.82
Oil @ $49.33
Gold @ $1268.30
Canadian $ @ .6330
Stocks which were UP 1% or more included OCLR
GOOG FNSR FB KGC TSLA SU FFIV TK GG
MKNX AEM.....
Here is my portfolio weighting :
AMD 37.84%
TWTR 26.22%
CNQ 21.53%
OCLR 14.41%
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2384.20, low 2382.36, high 2393.68
RSI @ 60.57
CMF @ -0.085
Internals were :
Down volume led by 1.86 to 1 in NYSE & 1.64 to 1 in Nasdaq
Declining stocks led by 1.60 to 1 in NYSE & 1.76 to 1 in Nasdaq
Net new 52 wk highs were leading by 124 in NYSE & 103 in Nasdaq
VIX UP 4.44% @ 10.82
Oil @ $49.33
Gold @ $1268.30
Canadian $ @ .6330
Stocks which were UP 1% or more included OCLR
GOOG FNSR FB KGC TSLA SU FFIV TK GG
MKNX AEM.....
Here is my portfolio weighting :
AMD 37.84%
TWTR 26.22%
CNQ 21.53%
OCLR 14.41%
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
Thursday, April 27, 2017
Indices closed UP .03% to .39%....NICE !!!!
Indices closed UP.
S&P 500 @ 2388.77, high 2392.10, low 2382.68
RSI @ 63.09
CMF @ -0.019
Internals were :
Down volume led by 1.62 to 1 in NYSE & .71 to 1 in Nasdaq
Declining stocks led by 1.03 to 1 in NYSE & 1.15 to 1 in Nasdaq
Net new 52 wk highs were leading by 246 in NYSE & 198 in Nasdaq
VIX Down 4.52% @ 10.36
Oil @ $48.97
Gold @ $1265.90
Stocks which were UP 1% or more included AMD TWTR
CY OLED AMZN SWKS NVDA MU NFLX CTRP UA
JKS COH SINA DNKN PCLN YELP FSLR SPWR
AGU MGA X LRCX.....
AH ER......
SWKS Down 2.16%
INTC Down 3.55%
BIDU Down 3.76%
AMZN UP 3.88%
GOOG UP 4.01%
AH Futures Down
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE closed UP and Nasdaq made another new all time high, internals were weak. Key technology earning reports were better than expected. Tomorrow is end of week and end of month which should be a positive for close.There is only a closing BLOG on Friday's around 7 PM.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2388.77, high 2392.10, low 2382.68
RSI @ 63.09
CMF @ -0.019
Internals were :
Down volume led by 1.62 to 1 in NYSE & .71 to 1 in Nasdaq
Declining stocks led by 1.03 to 1 in NYSE & 1.15 to 1 in Nasdaq
Net new 52 wk highs were leading by 246 in NYSE & 198 in Nasdaq
VIX Down 4.52% @ 10.36
Oil @ $48.97
Gold @ $1265.90
Stocks which were UP 1% or more included AMD TWTR
CY OLED AMZN SWKS NVDA MU NFLX CTRP UA
JKS COH SINA DNKN PCLN YELP FSLR SPWR
AGU MGA X LRCX.....
AH ER......
SWKS Down 2.16%
INTC Down 3.55%
BIDU Down 3.76%
AMZN UP 3.88%
GOOG UP 4.01%
AH Futures Down
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE closed UP and Nasdaq made another new all time high, internals were weak. Key technology earning reports were better than expected. Tomorrow is end of week and end of month which should be a positive for close.There is only a closing BLOG on Friday's around 7 PM.
BLOG does NOT give buy or sell.
Saleem
Indices UP .08% to .36%...NICE !!!!
Indices are back on track in anticipation of good earnings tonight, lower oil was not an issue today. Indices are @ high of the day.
S&P 500 @ 2390.54, high 2392.10, low 2382.68
Internals are mixed
Oil Down 48 cents
Gold UP $1.40
Canadian $ Down 3 tick @ .6381.....near 14 month low
VIX Down 2.67% @ 10.56
Sold TECK @ $20.48
Portfolio AMD CNQ OCLR TWTR
Most stocks are UP
@ 2.49 following are red :
CNQ NTES FNSR BAC C GG FCX V ABX KGC
TSLA CSIQ FFIV CHK TK RIG LNG WYNN
GS MLNX DATA MS SLW AEM TSLA
AAL CNX.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2390.54, high 2392.10, low 2382.68
Internals are mixed
Oil Down 48 cents
Gold UP $1.40
Canadian $ Down 3 tick @ .6381.....near 14 month low
VIX Down 2.67% @ 10.56
Sold TECK @ $20.48
Portfolio AMD CNQ OCLR TWTR
Most stocks are UP
@ 2.49 following are red :
CNQ NTES FNSR BAC C GG FCX V ABX KGC
TSLA CSIQ FFIV CHK TK RIG LNG WYNN
GS MLNX DATA MS SLW AEM TSLA
AAL CNX.....
BLOG does NOT give buy or sell.
Saleem
Wednesday, April 26, 2017
Indices closed down 0% to .10%......
Indices closed down.
S&P 500 @ 2387.45, low 2386.45, high 2398.16
RSI @ 62.67
CMF @ -0.010
Internals were :
UP volume led by 1.11 to 1 in NYSE & 1.04 to 1 in Nasdaq
Advancing stocks led by 1.37 to 1 in NYSE & 1.62 to 1 in Nasdaq
Net new 52 wk highs were leading by 282 in NYSE & 240 in Nasdaq
VIX UP .84% @ 10.85
Oil @ $49.62
Gold @ $1264.20
Stocks which closed green included TECK TWTR
CIEN OLED AMZN FB CTRP WB VRX LEN
SINA DNKN EXPE EBAY PCLN YELP FSLR
SPWR WYNN LVS GG FCX UA LULU JKS
SBUX AGU TRIP MS SLW AEM KORS
KBH CMG M.....
AH News...FFIV Down 7.87%, MLNX Down 10.9%
AH Futures UP
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE was strong from open but lost all its gains by close, Nasdaq managed to go to new all time high intraday. Indices needed to catch its breadth after 2.5 day of hectic run. Internals remained strong @ close. Earnings have been good so far, we have some important earnings coming after close on Thursday GOOG AMZN BIDU CY , their reaction will set the tone for this market for Friday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2387.45, low 2386.45, high 2398.16
RSI @ 62.67
CMF @ -0.010
Internals were :
UP volume led by 1.11 to 1 in NYSE & 1.04 to 1 in Nasdaq
Advancing stocks led by 1.37 to 1 in NYSE & 1.62 to 1 in Nasdaq
Net new 52 wk highs were leading by 282 in NYSE & 240 in Nasdaq
VIX UP .84% @ 10.85
Oil @ $49.62
Gold @ $1264.20
Stocks which closed green included TECK TWTR
CIEN OLED AMZN FB CTRP WB VRX LEN
SINA DNKN EXPE EBAY PCLN YELP FSLR
SPWR WYNN LVS GG FCX UA LULU JKS
SBUX AGU TRIP MS SLW AEM KORS
KBH CMG M.....
AH News...FFIV Down 7.87%, MLNX Down 10.9%
AH Futures UP
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE was strong from open but lost all its gains by close, Nasdaq managed to go to new all time high intraday. Indices needed to catch its breadth after 2.5 day of hectic run. Internals remained strong @ close. Earnings have been good so far, we have some important earnings coming after close on Thursday GOOG AMZN BIDU CY , their reaction will set the tone for this market for Friday.
BLOG does NOT give buy or sell.
Saleem
Indices UP .15% to .30%....NICE !!!!
Indices are higher for 3rd in a row on bullish sentiment and on tax reform.
S&P 500 @ 2395.13, high 2398.16, low 2388.06
Internals are positive by 2 to 1
Oil UP 27 cents
Gold Down $1.70
Canadian $ Down 34 tick @ .6596
VIX UP .84% @ 10.85
Portfolio AMD CNQ OCLR TECK TWTR
Most stocks are UP
@ 12.23 following are red :
AMD OCLR NTES SWIR FNSR BABA OLED GOOG
SWKS QRVO MU CY BIDU AAPL NFLX COH TSLA
PCLN TK LNG MLNX MCD SU AEM CRUS X
LRCX PANW.....
TWTR earning report was much better than expected,
solid beat on EPS by 10 cents, expected 1 cents actual 11 cents.
All the user metrics showed gains.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2395.13, high 2398.16, low 2388.06
Internals are positive by 2 to 1
Oil UP 27 cents
Gold Down $1.70
Canadian $ Down 34 tick @ .6596
VIX UP .84% @ 10.85
Portfolio AMD CNQ OCLR TECK TWTR
Most stocks are UP
@ 12.23 following are red :
AMD OCLR NTES SWIR FNSR BABA OLED GOOG
SWKS QRVO MU CY BIDU AAPL NFLX COH TSLA
PCLN TK LNG MLNX MCD SU AEM CRUS X
LRCX PANW.....
TWTR earning report was much better than expected,
solid beat on EPS by 10 cents, expected 1 cents actual 11 cents.
All the user metrics showed gains.
BLOG does NOT give buy or sell.
Saleem
Tuesday, April 25, 2017
Indices closed UP .61% to 1.12%....NICE !!!!
Indices closed UP.
S&P 500 @ 2388.61, high 2392.48, low 2381.15
RSI @ 63.26
CMF @ 0.071
Internals were :
UP volume led by 2.31 to 1 in NYSE & 2.97 to 1 in Nasdaq
Advancing stocks led by 2.10 to 1 in NYSE & 2.21 to 1 in Nasdaq
Net new 52 wk highs were leading by 292 in NYSE & 271 in Nasdaq
VIX Down .74% @ 10.76
Oil @ $49.56
Gold @ $1267.20
Stocks which were UP 2% or more included AMD
CIEN OLED BIDU NFLX CTRP VRX FCX
EBAY CHK WYNN CSOD MCD KORS
OPK LRCX CNX.....
AH ER...X Down 16.94%, WYNN UP 4.05%
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold Down
In my portfolio...Bought TWTR in AH @ $14.66
TWTR reports before open, here are expectations :
Sales $517.3 million, EPS 1 cent
Guidance next Q Sales $550.14 million, EPS 7 cents
Expecting a beat!...expected move 8%+-
About market, TAPE continued on a strong bull run, Nasdaq is sitting @ a new all time high with a new round number taken out and closing @ 6025.49, Dow & S&P 500 are all set to make new all time highs. Most sectors took off today again.Internals were very strong, everything looking good technically.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2388.61, high 2392.48, low 2381.15
RSI @ 63.26
CMF @ 0.071
Internals were :
UP volume led by 2.31 to 1 in NYSE & 2.97 to 1 in Nasdaq
Advancing stocks led by 2.10 to 1 in NYSE & 2.21 to 1 in Nasdaq
Net new 52 wk highs were leading by 292 in NYSE & 271 in Nasdaq
VIX Down .74% @ 10.76
Oil @ $49.56
Gold @ $1267.20
Stocks which were UP 2% or more included AMD
CIEN OLED BIDU NFLX CTRP VRX FCX
EBAY CHK WYNN CSOD MCD KORS
OPK LRCX CNX.....
AH ER...X Down 16.94%, WYNN UP 4.05%
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold Down
In my portfolio...Bought TWTR in AH @ $14.66
TWTR reports before open, here are expectations :
Sales $517.3 million, EPS 1 cent
Guidance next Q Sales $550.14 million, EPS 7 cents
Expecting a beat!...expected move 8%+-
About market, TAPE continued on a strong bull run, Nasdaq is sitting @ a new all time high with a new round number taken out and closing @ 6025.49, Dow & S&P 500 are all set to make new all time highs. Most sectors took off today again.Internals were very strong, everything looking good technically.
BLOG does NOT give buy or sell.
Saleem
Indices UP .71% to 1.25%....NICE !!!!
Indices are sharply higher as bull run has restarted again, lot of buying in most sectors. Indices are @ high of the day.
S&P 500 @ 2390.54, high 2391.20, low 2381.15
Internals are positive by more than 2 to 1
Oil UP 4 cents
Gold Down $11.60
Canadian $ Down 87 tick @ .6416...lowest level 14 months
VIX Down 1.65% @ 10.65
In my portfolio:
Sold BIDU @ $183.00
Bought HCG.TO @ $17.39
Portfolio AMD CNQ HCG.TO OCLR TECK
Most stocks are UP
@ 2.21 following are red :
HCG.TO TECK BBRY AMZN GG LULU ABX KGC
DNKN LEN JKS MLNX DATA ORCL SLW AEM
KBH.....
TECK earnings was a miss on Sales and EPS, also guiding
lower zinc production for the year. Higher cost and production issues @ zinc mine was the reason for miss.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2390.54, high 2391.20, low 2381.15
Internals are positive by more than 2 to 1
Oil UP 4 cents
Gold Down $11.60
Canadian $ Down 87 tick @ .6416...lowest level 14 months
VIX Down 1.65% @ 10.65
In my portfolio:
Sold BIDU @ $183.00
Bought HCG.TO @ $17.39
Portfolio AMD CNQ HCG.TO OCLR TECK
Most stocks are UP
@ 2.21 following are red :
HCG.TO TECK BBRY AMZN GG LULU ABX KGC
DNKN LEN JKS MLNX DATA ORCL SLW AEM
KBH.....
TECK earnings was a miss on Sales and EPS, also guiding
lower zinc production for the year. Higher cost and production issues @ zinc mine was the reason for miss.
BLOG does NOT give buy or sell.
Saleem
Monday, April 24, 2017
Indices closed UP 1.05% to 1.24%.....NICE !!!!
Indices closed UP.
S&P 500 @ 2374.15, high 2376.98, low 2369.19
RSI @ 58.83
CMF @ 58.83
Internals were :
UP volume led by 6.29 to 1 in NYSE & 2.97 to 1 in Nasdaq
Advancing stocks led by 2.45 to 1 in NYSE & 2.61 to 1 in Nasdaq
Net new 52 wk highs were leading by 241 in NYSE & 214 in Nasdaq
VIX Down 25.91% @ 10.84
Oil @ $49.23
Gold @ $1277.50
Stocks which were UP 1% or more included AMD BIDU
NTES BBRY SWIR CIEN FNSR BABA OLED GOOG
SWKS QRVO BAC C NVDA FB UA MA JKS MSFT
CSIQ SINA EXPE SU YUM FFIV PCLN WB YELP
FSLR SPWR GS AGU TRIP CSOD MGA MS OPK
CRUS AAL X PANW LRCX....
AH News...ABX Down 3.62%, ESRX Down 14.94%
AH Futures Down
AH Asian Markets UP
AH Oil & Gold UP
About market, TAPE went in overdrive to celebrate French election tilt towards EU and status quo, thus boosting euro & worldwide markets. Dow and S&P 500 closed above 50 DMA and Nasdaq went into a brand new all time high.Most sectors participated in this rally, market breadth was very strong after a long time. VIX crashed 25.91% among the worst losses in a very long time. North Korea situation and tax reform is next big thing.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2374.15, high 2376.98, low 2369.19
RSI @ 58.83
CMF @ 58.83
Internals were :
UP volume led by 6.29 to 1 in NYSE & 2.97 to 1 in Nasdaq
Advancing stocks led by 2.45 to 1 in NYSE & 2.61 to 1 in Nasdaq
Net new 52 wk highs were leading by 241 in NYSE & 214 in Nasdaq
VIX Down 25.91% @ 10.84
Oil @ $49.23
Gold @ $1277.50
Stocks which were UP 1% or more included AMD BIDU
NTES BBRY SWIR CIEN FNSR BABA OLED GOOG
SWKS QRVO BAC C NVDA FB UA MA JKS MSFT
CSIQ SINA EXPE SU YUM FFIV PCLN WB YELP
FSLR SPWR GS AGU TRIP CSOD MGA MS OPK
CRUS AAL X PANW LRCX....
AH News...ABX Down 3.62%, ESRX Down 14.94%
AH Futures Down
AH Asian Markets UP
AH Oil & Gold UP
About market, TAPE went in overdrive to celebrate French election tilt towards EU and status quo, thus boosting euro & worldwide markets. Dow and S&P 500 closed above 50 DMA and Nasdaq went into a brand new all time high.Most sectors participated in this rally, market breadth was very strong after a long time. VIX crashed 25.91% among the worst losses in a very long time. North Korea situation and tax reform is next big thing.
BLOG does NOT give buy or sell.
Saleem
Indices UP 1.04% to 1.17%....NICE !!!!
Indices are rallying worldwide on French preliminary election result, centrist party being in lead gives hope for EU, euro and continuing of status quo.Indices are near high of the day.
S&P 500 @ 2373.47, high 2374.86, low 2369.19
Internals are positive by 3 to 1.
Oil Down 36 cents
Gold Down $12.90
Canadian $ Down 16 tick @ .6487....low in 4 months....
VIX Down 22.08% @ 11.40......stunning move lower
In my portfolio :
Sold CY @ $14.18
Bought CNQ @ $32.73
Portfolio AMD BIDU CNQ OCLR TECK
Most stocks are UP
@ 2.24 following are red :
MU GG KGC LULU LEN EBAY CHK MLNX DATA
SLW AEM KORS NKE KBH CMG M......
TECK reports before open on Tuesday, here are the expectations :
Sales $2.33 billion, EPS $1.01
Guidance Sales $$2.19 billion, EPS .89
TECK has been cutting expenses to increase profit.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2373.47, high 2374.86, low 2369.19
Internals are positive by 3 to 1.
Oil Down 36 cents
Gold Down $12.90
Canadian $ Down 16 tick @ .6487....low in 4 months....
VIX Down 22.08% @ 11.40......stunning move lower
In my portfolio :
Sold CY @ $14.18
Bought CNQ @ $32.73
Portfolio AMD BIDU CNQ OCLR TECK
Most stocks are UP
@ 2.24 following are red :
MU GG KGC LULU LEN EBAY CHK MLNX DATA
SLW AEM KORS NKE KBH CMG M......
TECK reports before open on Tuesday, here are the expectations :
Sales $2.33 billion, EPS $1.01
Guidance Sales $$2.19 billion, EPS .89
TECK has been cutting expenses to increase profit.....
BLOG does NOT give buy or sell.
Saleem
Sunday, April 23, 2017
US stock market waiting for passage of tax reform.....
US stock market is in a holding pattern, till passage of tax reform.
There was no reaction on Friday, when tax reform was being promoted, it is a case of " show me the passage "
In US politics, there has been too many surprises, thus, it is "wait and see approach "
French election first round on is over and centrist and right wing will square off in final election.
North Korea is still a wild card, one can never tell what could be the next move by either party.
Chinese are showing willingness to exert their influence on North Korea, thus a fuel supply issue in North Korea.
Back to US stock market, it has become extremely narrow and selective.
Financial stocks are not reacting positively to good earnings.
Technology is extremely narrow with strength in FANG and select SOX stocks.
It is tough to navigate a TAPE which is supporting very few stocks.
Earning season is in full swing now and everyone is hoping that good earnings will be rewarded.
IF you have high comfort with your stocks, it is wise to monitor it closely.
Wall Street has given surprises to best of us, thus complacency is not an option.
From the feel of TAPE, it looks like, there is a digestive phase in market.
It may need more time for multiples to go higher, it may shrink in the meantime.
It is highly advisable to play safe and take less risk @ this stage.
Exposure needs to be monitored for risk.
Good luck with your own analysis and comfort level.
BLOG does NOT give buy or sell.
Saleem
There was no reaction on Friday, when tax reform was being promoted, it is a case of " show me the passage "
In US politics, there has been too many surprises, thus, it is "wait and see approach "
French election first round on is over and centrist and right wing will square off in final election.
North Korea is still a wild card, one can never tell what could be the next move by either party.
Chinese are showing willingness to exert their influence on North Korea, thus a fuel supply issue in North Korea.
Back to US stock market, it has become extremely narrow and selective.
Financial stocks are not reacting positively to good earnings.
Technology is extremely narrow with strength in FANG and select SOX stocks.
It is tough to navigate a TAPE which is supporting very few stocks.
Earning season is in full swing now and everyone is hoping that good earnings will be rewarded.
IF you have high comfort with your stocks, it is wise to monitor it closely.
Wall Street has given surprises to best of us, thus complacency is not an option.
From the feel of TAPE, it looks like, there is a digestive phase in market.
It may need more time for multiples to go higher, it may shrink in the meantime.
It is highly advisable to play safe and take less risk @ this stage.
Exposure needs to be monitored for risk.
Good luck with your own analysis and comfort level.
BLOG does NOT give buy or sell.
Saleem
Friday, April 21, 2017
Indices closed down .11% to .30%......
Indices closed near low of the day on lower oil & anxiety over French election.
S&P 500 @ 2348.69, low 2344.51, high 2356.18
RSI @ 48.71
CMF @ 0.064
Internals were :
Down volume led by 2.11 to 1 in NYSE & 1.41 to 1 in Nasdaq
Declining stocks led by 1.19 to 1 in NYSE & 1.40 to 1 in Nasdaq
Net new 52 wk highs were leading by 92 in NYSE & 54 in Nasdaq
VIX UP 3.39% @ 14.63
Oil @ $49.62
Gold @ $1289.10
Canadian $ @ .6497
Stocks which closed green included OCLR TECK
NTES CNQ FNSR GOOG NVDA SBUX KGC
MSFT NFLX TSLA FEYE WB CSOD CMG
SU AEM GG LRCX.....
Here is my portfolio weighting :
AMD 33.53%
BIDU 22.97%
CY 18.04%
TECK 14.05%
OCLR 11.41%
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2348.69, low 2344.51, high 2356.18
RSI @ 48.71
CMF @ 0.064
Internals were :
Down volume led by 2.11 to 1 in NYSE & 1.41 to 1 in Nasdaq
Declining stocks led by 1.19 to 1 in NYSE & 1.40 to 1 in Nasdaq
Net new 52 wk highs were leading by 92 in NYSE & 54 in Nasdaq
VIX UP 3.39% @ 14.63
Oil @ $49.62
Gold @ $1289.10
Canadian $ @ .6497
Stocks which closed green included OCLR TECK
NTES CNQ FNSR GOOG NVDA SBUX KGC
MSFT NFLX TSLA FEYE WB CSOD CMG
SU AEM GG LRCX.....
Here is my portfolio weighting :
AMD 33.53%
BIDU 22.97%
CY 18.04%
TECK 14.05%
OCLR 11.41%
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
Thursday, April 20, 2017
Indices closed UP .76% to .92%...NICE !!!!
Indices closed UP.
S&P 500 @ 2355.84, high 2361.37, low 2340.91
RSI @ 52.05
CMF @ 0.051
Internals were :
UP volume led by 2.62 to 1 in NYSE & 3.49 to 1 in Nasdaq
Advancing stocks led by 2.48 to 1 in NYSE & 2.61 to 1 in Nasdaq
Net new 52 wk highs were leading by 98 in NYSE & 96 in Nasdaq
VIX Down 5.22% @ 14.15
Oil @ $50.71
Gold @ $1283.80
Stocks which were UP 2% or more included AMD CY
OLED SWKS MU LULU MA WB MGA M LRCX...
AH ER...PFPT UP 9.01%, V UP 2.14%
AH Futures UP
AH Asian Markets UP
AH Oil Unchanged
AH Gold Down
About market, TAPE staged another strong oversold bounce and further boost was given on optimism about tax reform and financial reform. We need a confirmation of this up move by closing green on Friday.S&P 500 & Dow are still below 50 DMA while Nasdaq is above and ready to take out all time high. There is only a closing BLOG on Friday's around 7 PM.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2355.84, high 2361.37, low 2340.91
RSI @ 52.05
CMF @ 0.051
Internals were :
UP volume led by 2.62 to 1 in NYSE & 3.49 to 1 in Nasdaq
Advancing stocks led by 2.48 to 1 in NYSE & 2.61 to 1 in Nasdaq
Net new 52 wk highs were leading by 98 in NYSE & 96 in Nasdaq
VIX Down 5.22% @ 14.15
Oil @ $50.71
Gold @ $1283.80
Stocks which were UP 2% or more included AMD CY
OLED SWKS MU LULU MA WB MGA M LRCX...
AH ER...PFPT UP 9.01%, V UP 2.14%
AH Futures UP
AH Asian Markets UP
AH Oil Unchanged
AH Gold Down
About market, TAPE staged another strong oversold bounce and further boost was given on optimism about tax reform and financial reform. We need a confirmation of this up move by closing green on Friday.S&P 500 & Dow are still below 50 DMA while Nasdaq is above and ready to take out all time high. There is only a closing BLOG on Friday's around 7 PM.
BLOG does NOT give buy or sell.
Saleem
Indices UP .91% to 1.02%....NICE !!!!
Indices are sharply higher after finding support below 50 DMA.
S&P 500 @ 2359.59, high 2361.37, low 2340.91
Internals are positive by mostly 3 to 1
Oil Down 25 cents
Gold Down 50 cents
Canadian $ UP 5 tick @ .6522
VIX Down 5.43% @ 14.12
Portfolio AMD BIDU CY OCLR TECK
Most stocks are UP
@ 2.32 following are red :
SWIR VRX JKS LEN TSLA EBAY SPWR AGU
KBH CNX.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2359.59, high 2361.37, low 2340.91
Internals are positive by mostly 3 to 1
Oil Down 25 cents
Gold Down 50 cents
Canadian $ UP 5 tick @ .6522
VIX Down 5.43% @ 14.12
Portfolio AMD BIDU CY OCLR TECK
Most stocks are UP
@ 2.32 following are red :
SWIR VRX JKS LEN TSLA EBAY SPWR AGU
KBH CNX.....
BLOG does NOT give buy or sell.
Saleem
Wednesday, April 19, 2017
Indices closed mixed....
Indices closed mixed.
S&P 500 @ 2338.17, low 2335.05, high 2352.63
RSI @ 43.11
CMF @ 0.058
Internals were :
UP volume led by .58 to 1 in NYSE & 1.38 to 1 in Nasdaq
Advancing stocks led by .88 to 1 in NYSE & 1.52 to 1 in Nasdaq
Net new 52 wk highs were leading by 62 in NYSE & 54 in Nasdaq
VIX UP 3.54% @ 14.93
Oil @ $50.44
Gold @ $1283.40
Stocks which were UP 1% or more included BIDU CY
BBRY SWIR OLED SBUX TSLA DATA MGA MS
OPK CMG AAL M LRCX.....
AH ER....QCOM UP 2.39%, EBAY Down 1.93%
AH Futures UP
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE reversed and closed near low of the day, showing continued technical weakness. Too many international issues from French election to North Korea and now Iran in mix, extremely volatile situation.Considering everything internals were neutral, which is encouraging.Oil weakness is not helping either. Stay with high conviction stocks until there is some clarity on most issues.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2338.17, low 2335.05, high 2352.63
RSI @ 43.11
CMF @ 0.058
Internals were :
UP volume led by .58 to 1 in NYSE & 1.38 to 1 in Nasdaq
Advancing stocks led by .88 to 1 in NYSE & 1.52 to 1 in Nasdaq
Net new 52 wk highs were leading by 62 in NYSE & 54 in Nasdaq
VIX UP 3.54% @ 14.93
Oil @ $50.44
Gold @ $1283.40
Stocks which were UP 1% or more included BIDU CY
BBRY SWIR OLED SBUX TSLA DATA MGA MS
OPK CMG AAL M LRCX.....
AH ER....QCOM UP 2.39%, EBAY Down 1.93%
AH Futures UP
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE reversed and closed near low of the day, showing continued technical weakness. Too many international issues from French election to North Korea and now Iran in mix, extremely volatile situation.Considering everything internals were neutral, which is encouraging.Oil weakness is not helping either. Stay with high conviction stocks until there is some clarity on most issues.
BLOG does NOT give buy or sell.
Saleem
Indices mixed.....
Indices are mixed, IBM is impacting Dow.Indices are near low of the day.
S&P 500 @ 2345.93, high 2352.63, low 2343.91.
Internals are positive with Nasdaq positive by 2 to 1.
Oil Down 80 cents
Gold Down $10.40
Canadian $ Down 89 tick @ .6535
VIX Down 3.33% @ 13.94
Portfolio AMD BIDU CY OCLR TECK
Most stocks are UP
@ 12.38 following are red :
OCLR TECK NTES CNQ CIEN FNSR C GG ABX KGC
LVS NFLX SINA SU CHK RIG LNG FEYE JKS CTRP
GS WYNN AGU MLNX ORCL SLW AEM NKE X
PANW......
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2345.93, high 2352.63, low 2343.91.
Internals are positive with Nasdaq positive by 2 to 1.
Oil Down 80 cents
Gold Down $10.40
Canadian $ Down 89 tick @ .6535
VIX Down 3.33% @ 13.94
Portfolio AMD BIDU CY OCLR TECK
Most stocks are UP
@ 12.38 following are red :
OCLR TECK NTES CNQ CIEN FNSR C GG ABX KGC
LVS NFLX SINA SU CHK RIG LNG FEYE JKS CTRP
GS WYNN AGU MLNX ORCL SLW AEM NKE X
PANW......
BLOG does NOT give buy or sell.
Saleem
Tuesday, April 18, 2017
Indices closed down .12% to .55%.......
Indices closed down.
S&P 500 @ 2342.19, low 2334.54, high 2348.35
RSI @ 44.88
CMF @ 0.028
Internals were :
Down volume led by 1.63 to 1 in NYSE & .99 to 1 in Nasdaq
Declining stocks led by 1.11 to 1 in NYSE & 1.27 to 1 in Nasdaq
Net new 52 wk highs were leading by 75 in NYSE & lows by 7 in Nasdaq
VIX Down 1.64% @ 14.42
Oil @ $52.41
Gold @ $1294.10
AH ER...LRCX UP 4.45%, IBM Down 5.37%
AH Futures UP
AH Asian Markets Down
AH Oil & Gold Down
About market, TAPE is operating in a weak investing environment. International tension is brewing and US economy is slowing down. Politicians are struggling with important tax reform. Market will take time to digest all this uncertainty. Stay with your high conviction stocks, most stocks are struggling near lows.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2342.19, low 2334.54, high 2348.35
RSI @ 44.88
CMF @ 0.028
Internals were :
Down volume led by 1.63 to 1 in NYSE & .99 to 1 in Nasdaq
Declining stocks led by 1.11 to 1 in NYSE & 1.27 to 1 in Nasdaq
Net new 52 wk highs were leading by 75 in NYSE & lows by 7 in Nasdaq
VIX Down 1.64% @ 14.42
Oil @ $52.41
Gold @ $1294.10
AH ER...LRCX UP 4.45%, IBM Down 5.37%
AH Futures UP
AH Asian Markets Down
AH Oil & Gold Down
About market, TAPE is operating in a weak investing environment. International tension is brewing and US economy is slowing down. Politicians are struggling with important tax reform. Market will take time to digest all this uncertainty. Stay with your high conviction stocks, most stocks are struggling near lows.
BLOG does NOT give buy or sell.
Saleem
Indices down .16% to .54%.....
Indices are down on ongoing international uncertainties.
S&P 500 @ 2342.55, low 2334.44, high 2348.35
Internals are negative
Oil unchanged
Gold UP 90 cents
Canadian $ Down 63 tick @ .6622
VIX Down 41 tick @ 14.60
Portfolio AMD BIDU CY OCLR TECK
Most stocks are down
@ 2.15 following are green :
AMD BIDU OCLR CIEN FNSR AMZN SWKS
QRVO BAC MU TWTR LVS SBUX JKS LEN
DNKN YUM CHK TK LNG FEYE YELP
SPWR CTRP TRIP WYNN DATA CSOD
ORCL MCD KBH .....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2342.55, low 2334.44, high 2348.35
Internals are negative
Oil unchanged
Gold UP 90 cents
Canadian $ Down 63 tick @ .6622
VIX Down 41 tick @ 14.60
Portfolio AMD BIDU CY OCLR TECK
Most stocks are down
@ 2.15 following are green :
AMD BIDU OCLR CIEN FNSR AMZN SWKS
QRVO BAC MU TWTR LVS SBUX JKS LEN
DNKN YUM CHK TK LNG FEYE YELP
SPWR CTRP TRIP WYNN DATA CSOD
ORCL MCD KBH .....
BLOG does NOT give buy or sell.
Saleem
Monday, April 17, 2017
Indices closed UP .86% to .90%....NICE !!!!
Indices closed UP.
S&P 500 @ 2349.01, high 2349.14, low 2332.51
RSI @ 47.98
CMF @ 0.011
Internals were :
UP volume led by 4.42 to 1 in NYSE & 3.54 to 1 in Nasdaq
Advancing stocks led by 2.93 to 1 in NYSE & 2.36 to 1 in Nasdaq
Net new 52 wk highs were leading by 67 in NYSE & lows by 9 in Nasdaq
VIX Down 8.15% @ 14.66
Oil @ $52.65
Gold @ $1291.90
Stocks which were UP 2% or more included AMD CY
BAC NVDA NFLX CSIQ FEYE YELP SPWR
MLNX KBH AAL.....
AH News...NFLX UP 1.43%, CUDA Down 3.89%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE staged an oversold bounce, Chinese GDP of 6.9% also helped. International tension is still on and may impact markets worldwide based on statements and action, we need all clear to see conviction for markets. Indices closed @ high of the day and internals improved. It is important to keep an eye on market behavior going forward. Most sectors participated in this bounce.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2349.01, high 2349.14, low 2332.51
RSI @ 47.98
CMF @ 0.011
Internals were :
UP volume led by 4.42 to 1 in NYSE & 3.54 to 1 in Nasdaq
Advancing stocks led by 2.93 to 1 in NYSE & 2.36 to 1 in Nasdaq
Net new 52 wk highs were leading by 67 in NYSE & lows by 9 in Nasdaq
VIX Down 8.15% @ 14.66
Oil @ $52.65
Gold @ $1291.90
Stocks which were UP 2% or more included AMD CY
BAC NVDA NFLX CSIQ FEYE YELP SPWR
MLNX KBH AAL.....
AH News...NFLX UP 1.43%, CUDA Down 3.89%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE staged an oversold bounce, Chinese GDP of 6.9% also helped. International tension is still on and may impact markets worldwide based on statements and action, we need all clear to see conviction for markets. Indices closed @ high of the day and internals improved. It is important to keep an eye on market behavior going forward. Most sectors participated in this bounce.
BLOG does NOT give buy or sell.
Saleem
Indices UP .56% to .62%....NICE !!!!
Indices are staging an oversold bounce on better than expected Chinese GDP growth of 6.9%. Indices are @ high of the day.
S&P 500 @ 2342.96, high 2343.25, low 2332.51
Internals are positive by almost 2 to 1
Oil Down 53 cents
Gold UP 90 cents
Canadian $ UP 30 tick @ .6705
VIX Down 7.33% @ 14.83
Portfolio AMD BIDU CY OCLR TECK
Most stocks are UP
@ 2.35 following are red :
VRX FCX UA TSLA EBAY CHK TK LNG
FSLR JKS COH CSOD KORS OPK X
M PANW.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2342.96, high 2343.25, low 2332.51
Internals are positive by almost 2 to 1
Oil Down 53 cents
Gold UP 90 cents
Canadian $ UP 30 tick @ .6705
VIX Down 7.33% @ 14.83
Portfolio AMD BIDU CY OCLR TECK
Most stocks are UP
@ 2.35 following are red :
VRX FCX UA TSLA EBAY CHK TK LNG
FSLR JKS COH CSOD KORS OPK X
M PANW.....
BLOG does NOT give buy or sell.
Saleem
Sunday, April 16, 2017
Is US stock market in major pullback.....
US stock market is showing weakness which it has not displayed since early November 2016.
Here is the current tabulation of many index in terms of 50 DMA :
Dow 202 points below 50 DMA
Nasdaq 26 points below 50 DMA
S&P 500 23 points below 50 DMA
Russell 32 points below 50 DMA
SOX 25 points below 50 DMA
XLE, TAN, IBB 1 points below 50 DMA
GLD 4 points above 50 DMA
Here is the current read on RSI :
SOX 32.57
DJIA 34.78
S&P 500 35.90
Nasdaq 40.43
Russell 40.59
TAN 41.89
XLE 42.42
IBB 48.68
GLD 74.87
CMF is negative in all indices / index except minor + 0.030 in Nasdaq and GLD +0.159
Market stat is clearly telling us that except Gold nothing else is working in this market.
Every other area of market is showing weakness which is not seen in a long time.
Last early November we hit 200 DMA in major indices and rallied from there on Trump bump, which has given up most of the gains.
Based on international tension, it is safe to predict that 200 DMA is in sight and may not hold this time.
Based on below 200 DMA probabilities, it is extremely important to execute a precise strategy, take any gains when available, reduce exposure and cut losses very early like on any technical rebound.
Market goes through these changes quite often, so, this should not and must not come as any surprise.
Earnings will not help and it may be " sell the good news " and " crush the bad news "...which is a no win situation.
Those who know how to play short safely through option or through ETF have a good environment to do just that.
Times have changed and it is up to you how you want to play, technically we are in bad shape and may get worse pretty quick.
Good luck with your own analysis and strategy.
BLOG does NOT give buy or sell.
Saleem
Here is the current tabulation of many index in terms of 50 DMA :
Dow 202 points below 50 DMA
Nasdaq 26 points below 50 DMA
S&P 500 23 points below 50 DMA
Russell 32 points below 50 DMA
SOX 25 points below 50 DMA
XLE, TAN, IBB 1 points below 50 DMA
GLD 4 points above 50 DMA
Here is the current read on RSI :
SOX 32.57
DJIA 34.78
S&P 500 35.90
Nasdaq 40.43
Russell 40.59
TAN 41.89
XLE 42.42
IBB 48.68
GLD 74.87
CMF is negative in all indices / index except minor + 0.030 in Nasdaq and GLD +0.159
Market stat is clearly telling us that except Gold nothing else is working in this market.
Every other area of market is showing weakness which is not seen in a long time.
Last early November we hit 200 DMA in major indices and rallied from there on Trump bump, which has given up most of the gains.
Based on international tension, it is safe to predict that 200 DMA is in sight and may not hold this time.
Based on below 200 DMA probabilities, it is extremely important to execute a precise strategy, take any gains when available, reduce exposure and cut losses very early like on any technical rebound.
Market goes through these changes quite often, so, this should not and must not come as any surprise.
Earnings will not help and it may be " sell the good news " and " crush the bad news "...which is a no win situation.
Those who know how to play short safely through option or through ETF have a good environment to do just that.
Times have changed and it is up to you how you want to play, technically we are in bad shape and may get worse pretty quick.
Good luck with your own analysis and strategy.
BLOG does NOT give buy or sell.
Saleem
Thursday, April 13, 2017
Indices closed down .53% to .68%.....
All indices closed @ absolute low of the day, weakness was triggered by biggest bomb being dropped on Afghanistan. All indices are well below 50 DMA. CMF is negative in Dow & S&P 500.
S&P 500 @ 2328.96, low 2328.96, high 2348.26
RSI @ 35.90
CMF @ -0.099
Internals were :
Down volume led by 5.86 to 1 in NYSE & 2.30 to 1 in Nasdaq
Declining stocks led by 2.57 to 1 in NYSE & 2.24 to 1 in Nasdaq
Net new 52 wk highs were leading by 26 in NYSE & low by 11 in Nasdaq
VIX UP 1.20% @ 15.96....high today 16.22
Oil @ $53.18
Gold @ $1288.50
Canadian $ @ .6673
Stocks which closed green included NTES CIEN MU V JKS
LEN TSLA EBAY KBH CMG.....
Here is my portfolio weighting :
AMD 33.00
BIDU 23.14%
CY 17.62%
TECK 14.75%
OCLR 11.49%
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2328.96, low 2328.96, high 2348.26
RSI @ 35.90
CMF @ -0.099
Internals were :
Down volume led by 5.86 to 1 in NYSE & 2.30 to 1 in Nasdaq
Declining stocks led by 2.57 to 1 in NYSE & 2.24 to 1 in Nasdaq
Net new 52 wk highs were leading by 26 in NYSE & low by 11 in Nasdaq
VIX UP 1.20% @ 15.96....high today 16.22
Oil @ $53.18
Gold @ $1288.50
Canadian $ @ .6673
Stocks which closed green included NTES CIEN MU V JKS
LEN TSLA EBAY KBH CMG.....
Here is my portfolio weighting :
AMD 33.00
BIDU 23.14%
CY 17.62%
TECK 14.75%
OCLR 11.49%
Next post by 2 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
Wednesday, April 12, 2017
Indices closed down .29% to .52%.....
Indices closed down.
S&P 500 @ 2344.93, low 2341.18, high 2352.72
RSI @ 43.34
CMF @ -0.066
Internals were :
Down volume led by 2.52 to 1 in NYSE & 1.95 to 1 in Nasdaq
Declining stocks led by 2.15 to 1 in NYSE & 2.23 to 1 in Nasdaq
Net new 52 wk highs were leading by 63 in NYSE & 29 in Nasdaq
VIX UP 4.64% @ 15.77
Oil @ $53.11
Gold @ $1278.10
AH News..AAOI UP 19.87%, PIR Down 3.72%
AH Futures Mixed
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE closed near low of the day. Dow and S&P 500 closed below 50 DMA and Nasdaq only 8 points above. CMF is negative in S&P 500 and Dow. VIX closed @ highest point in months.Internals were weak all day. All this is not a sign of market which can be called healthy. Look for relative value and make some changes.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2344.93, low 2341.18, high 2352.72
RSI @ 43.34
CMF @ -0.066
Internals were :
Down volume led by 2.52 to 1 in NYSE & 1.95 to 1 in Nasdaq
Declining stocks led by 2.15 to 1 in NYSE & 2.23 to 1 in Nasdaq
Net new 52 wk highs were leading by 63 in NYSE & 29 in Nasdaq
VIX UP 4.64% @ 15.77
Oil @ $53.11
Gold @ $1278.10
AH News..AAOI UP 19.87%, PIR Down 3.72%
AH Futures Mixed
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE closed near low of the day. Dow and S&P 500 closed below 50 DMA and Nasdaq only 8 points above. CMF is negative in S&P 500 and Dow. VIX closed @ highest point in months.Internals were weak all day. All this is not a sign of market which can be called healthy. Look for relative value and make some changes.
BLOG does NOT give buy or sell.
Saleem
Indices down .15% to .30%.....
Indices are lower due to international tension.S&P 500 and Dow are trading below 50 DMA.
S&P 500 @ 2347.90, low 2341.18, high 2352.72
Internals are negative mostly by 2 to 1
Oil Down 21 cents
Gold UP $2.00
Canadian $ UP 24 tick @ .6701
VIX UP 1.79% @ 15.34
In my portfolio
Sold MU @ $26.88
Added 85% OCLR @ $8.60
Added 25% AMD @ 12.88
Portfolio AMD BIDU CY OCLR TECK
Most stocks are down
@ 2.09 following are green :
BIDU BBRY BABA GOOG VRX TWTR LVS V
LULU JKS COH KGC NFLX SINA EXPE SU
EBAY MLNX AEM NKE OPK CMG AAL
PANW......
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2347.90, low 2341.18, high 2352.72
Internals are negative mostly by 2 to 1
Oil Down 21 cents
Gold UP $2.00
Canadian $ UP 24 tick @ .6701
VIX UP 1.79% @ 15.34
In my portfolio
Sold MU @ $26.88
Added 85% OCLR @ $8.60
Added 25% AMD @ 12.88
Portfolio AMD BIDU CY OCLR TECK
Most stocks are down
@ 2.09 following are green :
BIDU BBRY BABA GOOG VRX TWTR LVS V
LULU JKS COH KGC NFLX SINA EXPE SU
EBAY MLNX AEM NKE OPK CMG AAL
PANW......
BLOG does NOT give buy or sell.
Saleem
Tuesday, April 11, 2017
Indices closed down .03% to .24%.....
Indices closed down.
S&P 500 @ 2353.78, low 2337.25, high 2355.22
RSI @ 48.51
CMF @ -0.020
Internals were :
UP volume led by 1.27 to 1 in NYSE & .67 to 1 in Nasdaq
Advancing stocks led by 1.61 to 1 in NYSE & 1.29 to 1 in Nasdaq
Net new 52 wk highs were leading by 82 in NYSE & 27 in Nasdaq
VIX UP 7.26% @ 15.07.... high today 15.88
Oil @ $53.40
Gold @ $1274.20
AH Futures Down
AH Asian Markets Down
AH Oil & Gold UP
About market, TAPE was weak from open and all major indices including Nasdaq went below 50 DMA, but by close buying kicked in and all indices closed above 50 DMA. There is uncertainty due to Syria and North Korea, this may be a hangover until there is a resolution. Buying the dip, still works. Semiconductor stocks are showing weakness along with other sectors, only Gold & Oil were in green. Waiting out this weakness is a good option.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2353.78, low 2337.25, high 2355.22
RSI @ 48.51
CMF @ -0.020
Internals were :
UP volume led by 1.27 to 1 in NYSE & .67 to 1 in Nasdaq
Advancing stocks led by 1.61 to 1 in NYSE & 1.29 to 1 in Nasdaq
Net new 52 wk highs were leading by 82 in NYSE & 27 in Nasdaq
VIX UP 7.26% @ 15.07.... high today 15.88
Oil @ $53.40
Gold @ $1274.20
AH Futures Down
AH Asian Markets Down
AH Oil & Gold UP
About market, TAPE was weak from open and all major indices including Nasdaq went below 50 DMA, but by close buying kicked in and all indices closed above 50 DMA. There is uncertainty due to Syria and North Korea, this may be a hangover until there is a resolution. Buying the dip, still works. Semiconductor stocks are showing weakness along with other sectors, only Gold & Oil were in green. Waiting out this weakness is a good option.
BLOG does NOT give buy or sell.
Saleem
Indices down .20% to .43%......
Indices are lower on international issues regarding Syria, North Korea. Oil closed higher.
S&P 500 @ 2349.70, low 2337.45, high 2355.22
Internals are mostly negative.
Oil UP 23 cents
Gold UP $22.00
Canadian $ Down 2 tick @ .6673
VIX UP 7.83% @ 15.15
Portfolio AMD BIDU CY MU OCLR TECK
Most stocks are down
@ 2.49 PM following are green :
CNQ FCX GG ABX KGC NVDA LVS COH LEN
NFLX DNKN EXPE YUM TK YELP FSLR
DATA ORCL MCD SLW AEM KORS
NKE KBH AAL X M PANW.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2349.70, low 2337.45, high 2355.22
Internals are mostly negative.
Oil UP 23 cents
Gold UP $22.00
Canadian $ Down 2 tick @ .6673
VIX UP 7.83% @ 15.15
Portfolio AMD BIDU CY MU OCLR TECK
Most stocks are down
@ 2.49 PM following are green :
CNQ FCX GG ABX KGC NVDA LVS COH LEN
NFLX DNKN EXPE YUM TK YELP FSLR
DATA ORCL MCD SLW AEM KORS
NKE KBH AAL X M PANW.....
BLOG does NOT give buy or sell.
Saleem
Monday, April 10, 2017
Indices closed UP .01% to .07%.....NICE !!!!
Indices closed UP.
S&P 500 @ 2357.16, high 2366.37, low 2351.50
RSI @ 50.66
CMF @ -0.041
Internals were :
UP volume led by 1.81 to 1 in NYSE & 1.20 to 1 in Nasdaq
Advancing stocks led by 2.09 to 1 in NYSE & .94 to 1 in Nasdaq
Net new 52 wk highs were leading by 85 in NYSE & 30 in Nasdaq
VIX UP 9.17% @ 14.05
Oil @ $53.08
Gold @ $1253.90
Stocks which were UP 1% or more included BIDU CY TECK
CNQ BABA OLED FCX GG ABX AEM AMZN LULU
JKS CSIQ FSLR SPWR LEN TSLA EXPE SU VRX
TK RIG LNG WB KBH CMG AAL M.....
AH News...TER UP 16.47%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE tried to stage a rally, but lost most of its gains by close. S&P 500 and Dow are sitting near 50 DMA, any negative action can take both indices below 50 DMA. CMF is negative in S&P 500 and Dow, another negative sign. How we close is a good sign of internal health of any market, we are not looking good.VIX closing above 14 after a long time is another confirmation of negativity, SOX did not behave well either. that all is not well. Keep an eye how we close from hereon and take necessary action.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2357.16, high 2366.37, low 2351.50
RSI @ 50.66
CMF @ -0.041
Internals were :
UP volume led by 1.81 to 1 in NYSE & 1.20 to 1 in Nasdaq
Advancing stocks led by 2.09 to 1 in NYSE & .94 to 1 in Nasdaq
Net new 52 wk highs were leading by 85 in NYSE & 30 in Nasdaq
VIX UP 9.17% @ 14.05
Oil @ $53.08
Gold @ $1253.90
Stocks which were UP 1% or more included BIDU CY TECK
CNQ BABA OLED FCX GG ABX AEM AMZN LULU
JKS CSIQ FSLR SPWR LEN TSLA EXPE SU VRX
TK RIG LNG WB KBH CMG AAL M.....
AH News...TER UP 16.47%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE tried to stage a rally, but lost most of its gains by close. S&P 500 and Dow are sitting near 50 DMA, any negative action can take both indices below 50 DMA. CMF is negative in S&P 500 and Dow, another negative sign. How we close is a good sign of internal health of any market, we are not looking good.VIX closing above 14 after a long time is another confirmation of negativity, SOX did not behave well either. that all is not well. Keep an eye how we close from hereon and take necessary action.
BLOG does NOT give buy or sell.
Saleem
Subscribe to:
Posts (Atom)