Indices closed @ low of the day, financials were the reason for this weak close.
S&P 500 @ 2673.61, low 2673.61, high 2692.12
RSI @ 60.95
CMF @ -0.108
Internals were :
Down volume led by 2.08 to 1 in NYSE & 3.04 to 1 in Nasdaq
Declining stocks led by 1.46 to 1 in NYSE & 1.91 to 1 in Nasdaq
Net new 52 wk highs were leading by 167 in NYSE & 132 in Nasdaq
VIX UP 8.45% @ 11.04
Oil @ $60.42
Gold @ $1309.30
Canadian $ @ .7483....8 day high against US$
Stocks which closed green included RIOT LTEA TEUM LFIN
BABA GE GG ABX KGC SU WYNN AGU MLNX SPLK....
Here is my portfolio weighting :
BIDU 26.10%
SHOP 15.80%
CTRP 14.70
SQ 10.80%
MOMO 9.80%
MRVL 9.60%
WB 9.20%
MARA 3.90%
Next post by 6 PM on Monday ( this is a change due to long weekend )
HAPPY NEW YEAR !
BLOG does NOT give buy or sell.
Saleem
Friday, December 29, 2017
Thursday, December 28, 2017
Indices closed UP .16% to .26%....NICE !!!!
Indices closed UP.
S&P 500 @ 2687.54, high 2687.66, low 2682.69
RSI @ 70.37
CMF @ -0.061
Internals were :
UP volume led by 2.35 to 1 in NYSE & 1.60 to 1 in Nasdaq
Advancing stocks led by 1.92 to 1 in NYSE & 1.51 to 1 in Nasdaq
Net new 52 wk highs were leading by 109 in NYSE & 84 in Nasdaq
VIX Down 2.77% @ 10.18
Oil @ $59.84
Gold @ $1297.20
Stocks which were UP 1% or more included NFLX SWIR
FCX SU VECO CHK LTEA KBH X CNX....
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE was mixed then turned and closed @ high of the day, a very good technical action. Cryptocurrencies were sharply lower on South Korea regulation, but it is a step in right direction.Internals were mostly positive. CMF still negative in 3 major indices. There is only a closing BLOG on Friday's around 7 PM.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2687.54, high 2687.66, low 2682.69
RSI @ 70.37
CMF @ -0.061
Internals were :
UP volume led by 2.35 to 1 in NYSE & 1.60 to 1 in Nasdaq
Advancing stocks led by 1.92 to 1 in NYSE & 1.51 to 1 in Nasdaq
Net new 52 wk highs were leading by 109 in NYSE & 84 in Nasdaq
VIX Down 2.77% @ 10.18
Oil @ $59.84
Gold @ $1297.20
Stocks which were UP 1% or more included NFLX SWIR
FCX SU VECO CHK LTEA KBH X CNX....
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE was mixed then turned and closed @ high of the day, a very good technical action. Cryptocurrencies were sharply lower on South Korea regulation, but it is a step in right direction.Internals were mostly positive. CMF still negative in 3 major indices. There is only a closing BLOG on Friday's around 7 PM.
BLOG does NOT give buy or sell.
Saleem
Indices UP .03% to .15%...NICE !!!!
Indices are higher as Cryptocurrencies takes another hit as South Korea making rule changes.
S&P 500 @ 2683.46, high 2686.55, low 2682.74
Internals are positive
Oil UP 5 cents
Gold UP $5.00
Canadian $ UP 69 tick @ .7416.....UP 7 days in a row against US$
VIX Down 3.06% @ 10.15
In my portfolio bought MARA @ $4.38 & $4.30
Portfolio BIDU CTRP MARA MRVL MOMO SHOP SQ WB
Most stocks are UP
@ 2.06 following are red :
BIDU MARA MRVL MOMO SHOP SQ RIOT JD NTES
VRX UA LVS CSIQ BZUN FNSR FEYE FSLR CIEN
MU WYNN SINA CMG ....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2683.46, high 2686.55, low 2682.74
Internals are positive
Oil UP 5 cents
Gold UP $5.00
Canadian $ UP 69 tick @ .7416.....UP 7 days in a row against US$
VIX Down 3.06% @ 10.15
In my portfolio bought MARA @ $4.38 & $4.30
Portfolio BIDU CTRP MARA MRVL MOMO SHOP SQ WB
Most stocks are UP
@ 2.06 following are red :
BIDU MARA MRVL MOMO SHOP SQ RIOT JD NTES
VRX UA LVS CSIQ BZUN FNSR FEYE FSLR CIEN
MU WYNN SINA CMG ....
BLOG does NOT give buy or sell.
Saleem
Wednesday, December 27, 2017
Indices closed UP .04% to .11%....NICE !!!!
Indices closed UP.
S&P 500 @ 2682.62, high 2685.64, low 2678.91
RSI @ 68.79
CMF @ -0.097
Internals were :
UP volume led by .87 to 1 in NYSE & 1.45 to 1 in Nasdaq
Advancing stocks led by 1.24 to 1 in NYSE & 1.04 to 1 in Nasdaq
Net new 52 wk highs were leading by 121 in NYSE & 85 in Nasdaq
VIX UP 2.15% @ 10.47
Oil @ $59.64
Gold @ $1291.40
Stocks which were UP 1% or more included MOMO SQ
BZUN OLED SPWR TECK UA LVS JKS QRVO SU
MARA CSIQ FSLR AGU.....
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE showed its resiliency by fighting negativity and closed UP. AAPL sales related issues were mostly ignored by this TAPE and it closed UP. This type of contrary close is very encouraging. The only negative is CMF which has gone negative in 3 major indices, but this TAPE is very robust and can ignore some of the technicals on a routine basis.
BLOG does NOT give buy or sell.
Saleem
Indices mixed.....
Indices are mixed with technology being red. Oil & AAPL being weak is a factor for sluggishness in TAPE. Indices are near low of the day.
S&P 500 @ 2680.72, high 2685.64, low 2680.43
Internals are mostly positive.
Oil Down 41 cents
Gold UP $5.00
Canadian $ UP 45 tick @ .7357
VIX UP 1.37% @ 10.39
In my portfolio Added 80% MOMO @ $25.25
Portfolio BIDU CTRP MRVL MOMO SHOP SQ WB
Most stocks are UP
@ 2.20 PM following are red :
WB TSLA NFLX VRX CNQ GOOG EBAY CHK
RIOT TRIL GS ULTA KORS NKE AAL X M
CNX.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2680.72, high 2685.64, low 2680.43
Internals are mostly positive.
Oil Down 41 cents
Gold UP $5.00
Canadian $ UP 45 tick @ .7357
VIX UP 1.37% @ 10.39
In my portfolio Added 80% MOMO @ $25.25
Portfolio BIDU CTRP MRVL MOMO SHOP SQ WB
Most stocks are UP
@ 2.20 PM following are red :
WB TSLA NFLX VRX CNQ GOOG EBAY CHK
RIOT TRIL GS ULTA KORS NKE AAL X M
CNX.....
BLOG does NOT give buy or sell.
Saleem
Tuesday, December 26, 2017
Indices closed down .03% to .34%.....
Indices closed down.
S&P 500 @ 2680.50, low 2677.96, high 2682.74
RSI @ 68.10
CMF @ -0.052
Internals were :
UP volume led by 1.88 to 1 in NYSE & .91 to 1 in Nasdaq
Advancing stocks led by 1.30 to 1 in NYSE & .88 to 1 in Nasdaq
Net new 52 wk highs were leading by 154 in NYSE & 78 in Nasdaq
VIX UP 3.54% @ 10.25
Oil @ $59.97
Gold @ $1287.50
AH news...CF Down 3.76%, DCIX UP 3.33%
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE was negative due to AAPL iphone X sales report, which was less than anticipated. Nasdaq was the weakest with AAPL & its suppliers taking a hit. Overall Market held up well in this thinly traded holiday trading. Tomorrow is the last day to close books for retail accounts for 2017 fiscal year, which may provide volatility in certain stocks.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2680.50, low 2677.96, high 2682.74
RSI @ 68.10
CMF @ -0.052
Internals were :
UP volume led by 1.88 to 1 in NYSE & .91 to 1 in Nasdaq
Advancing stocks led by 1.30 to 1 in NYSE & .88 to 1 in Nasdaq
Net new 52 wk highs were leading by 154 in NYSE & 78 in Nasdaq
VIX UP 3.54% @ 10.25
Oil @ $59.97
Gold @ $1287.50
AH news...CF Down 3.76%, DCIX UP 3.33%
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE was negative due to AAPL iphone X sales report, which was less than anticipated. Nasdaq was the weakest with AAPL & its suppliers taking a hit. Overall Market held up well in this thinly traded holiday trading. Tomorrow is the last day to close books for retail accounts for 2017 fiscal year, which may provide volatility in certain stocks.
BLOG does NOT give buy or sell.
Saleem
Indices down .11% to .33%.....
Indices are down due to negative sales report on AAPL X.
S&P 500 @ 2679.62, low 2678.13, high 2685.35
Internals are mixed
Oil UP $1.43
Gold UP $9.29
Canadian $ UP 37 tick @ .7310
VIX UP 3.43% @ 10.24
In my portfolio Bought WB @ $104.51
Portfolio BIDU CTRP MRVL MOMO SHOP SQ WB
Most stocks are down
@ 2.15 following are green :
SHOP BZUN NVDA LULU CNQ GG TECK FCX UA
KGC CHK TK RIG FEYE LNG RIOT TRIL AEM
M CNX......
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2679.62, low 2678.13, high 2685.35
Internals are mixed
Oil UP $1.43
Gold UP $9.29
Canadian $ UP 37 tick @ .7310
VIX UP 3.43% @ 10.24
In my portfolio Bought WB @ $104.51
Portfolio BIDU CTRP MRVL MOMO SHOP SQ WB
Most stocks are down
@ 2.15 following are green :
SHOP BZUN NVDA LULU CNQ GG TECK FCX UA
KGC CHK TK RIG FEYE LNG RIOT TRIL AEM
M CNX......
BLOG does NOT give buy or sell.
Saleem
Monday, December 25, 2017
Indices marking time.....
Indices are trying to digest gains, year end low volume will continue until January 2nd, 2018. This gives a chance to look @ your portfolio and position for 2018.
Seasonality does not favor stock market in January, thus a feverish count for " January effect "....as goes January, so goes stock market for the year.
This January may be more challenging as majority of good news is priced in.
Many sectors may get a bid in January like Gold, Silver.......
SO...it is a matter of sector choice for start of the year.
Financials do not have a good record for January either.....
Here is a list of sectors / index from RSI point of view :
DOW 74.59
S&P 500 70.01
Nasdaq 63.73
GDX 62.70
EEM 59.80
RUT 58.93
SOX 52.14
Based on the above, EEM looks interesting here, GDX should do well.
While our front line indices takes rest or pulls back, there are areas to explore.
Wednesday is the last trading day for 2017, it may present some opportunities as some lock in profit and some book losses.
It will be interesting as to how we close this year in the last week of trading, this is a 4 day week in US and 3 day week in Canada, UK, Hong Kong & Australia as Tuesday, they are all closed.
Good luck with your strategy for 2018.
BLOG does NOT give buy or sell.
Saleem
Seasonality does not favor stock market in January, thus a feverish count for " January effect "....as goes January, so goes stock market for the year.
This January may be more challenging as majority of good news is priced in.
Many sectors may get a bid in January like Gold, Silver.......
SO...it is a matter of sector choice for start of the year.
Financials do not have a good record for January either.....
Here is a list of sectors / index from RSI point of view :
DOW 74.59
S&P 500 70.01
Nasdaq 63.73
GDX 62.70
EEM 59.80
RUT 58.93
SOX 52.14
Based on the above, EEM looks interesting here, GDX should do well.
While our front line indices takes rest or pulls back, there are areas to explore.
Wednesday is the last trading day for 2017, it may present some opportunities as some lock in profit and some book losses.
It will be interesting as to how we close this year in the last week of trading, this is a 4 day week in US and 3 day week in Canada, UK, Hong Kong & Australia as Tuesday, they are all closed.
Good luck with your strategy for 2018.
BLOG does NOT give buy or sell.
Saleem
Friday, December 22, 2017
Indices closed down .05% to .11%......
Indices closed down. It was a low volume day ahead of 3 day holiday weekend. Bitcoin was the news of the day, plunging from $20,000 to $12,000......
S&P 500 @ 2683.34, low 2678.13, high 2685.35
RSI @ 70.00
CMF @ -0.066
Internals were :
UP volume led by 1.06 to 1 in NYSE & .84 to 1 in Nasdaq
Advancing stocks led by 1.03 to 1 in NYSE & .77 to 1 in Nasdaq
Net new 52 wk highs were leading by 114 in NYSE & 46 in Nasdaq
VIX UP 2.91% @ 9.90
Oil @ $58.47
Gold @ $1278.80
Canadian $ @ .7252
Stocks which closed green included CTRP BABA NFLX LULU
GG BAC TECK V MA JKS LEN QRVO EXPE SU VECO
TWLO RIG LNG CIEN TRIL AGU ORCL AEM CMG
M LRCX CNX......
Here is my portfolio weighting :
BIDU 31.60%
SHOP 19.20%
CTRP 17.90
SQ 13.00
MRVL 11.60%
MOMO 6.70%
Next post by 6 PM on Monday ( this is a change from Sunday due to long weekend )
Enjoy Christmas holiday's....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2683.34, low 2678.13, high 2685.35
RSI @ 70.00
CMF @ -0.066
Internals were :
UP volume led by 1.06 to 1 in NYSE & .84 to 1 in Nasdaq
Advancing stocks led by 1.03 to 1 in NYSE & .77 to 1 in Nasdaq
Net new 52 wk highs were leading by 114 in NYSE & 46 in Nasdaq
VIX UP 2.91% @ 9.90
Oil @ $58.47
Gold @ $1278.80
Canadian $ @ .7252
Stocks which closed green included CTRP BABA NFLX LULU
GG BAC TECK V MA JKS LEN QRVO EXPE SU VECO
TWLO RIG LNG CIEN TRIL AGU ORCL AEM CMG
M LRCX CNX......
Here is my portfolio weighting :
BIDU 31.60%
SHOP 19.20%
CTRP 17.90
SQ 13.00
MRVL 11.60%
MOMO 6.70%
Next post by 6 PM on Monday ( this is a change from Sunday due to long weekend )
Enjoy Christmas holiday's....
BLOG does NOT give buy or sell.
Saleem
Thursday, December 21, 2017
Indices closed UP .06% to .23%....NICE !!!!
Indices closed UP.
S&P 500 @ 2684.57, high 2692.64, low 2682.40
RSI @ 70.80
CMF @ -0.080
Internals were :
UP volume led by 2.51 to 1 in NYSE & 1.40 to 1 in Nasdaq
Advancing stocks led by 1.55 to 1 in NYSE & 1.60 to 1 in Nasdaq
Net new 52 wk highs were leading by 155 in NYSE & 68 in Nasdaq
VIX Down 1.03% @ 9.62
Oil @ $58.36
Gold @ $1279.70
Stocks which were UP 1% or more included BIDU WB
BABA NTES LULU SPWR JKS VRX CNQ BAC GS
TECK FCX UA LEN KBH SINA DNKN CHK TK
RIG LNG CIEN AGU ULTA NKE AAL X....
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE ended green but closed near low of the day, internals were strong and majority of stocks participated in this rally. Government shutdown is avoided again and tax reform is ready to take effect. Tax reform is a huge catalyst for US economy and many corporation are already making adjustment in wages / bonus. There is only a closing BLOG on Friday's around 7 PM.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2684.57, high 2692.64, low 2682.40
RSI @ 70.80
CMF @ -0.080
Internals were :
UP volume led by 2.51 to 1 in NYSE & 1.40 to 1 in Nasdaq
Advancing stocks led by 1.55 to 1 in NYSE & 1.60 to 1 in Nasdaq
Net new 52 wk highs were leading by 155 in NYSE & 68 in Nasdaq
VIX Down 1.03% @ 9.62
Oil @ $58.36
Gold @ $1279.70
Stocks which were UP 1% or more included BIDU WB
BABA NTES LULU SPWR JKS VRX CNQ BAC GS
TECK FCX UA LEN KBH SINA DNKN CHK TK
RIG LNG CIEN AGU ULTA NKE AAL X....
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE ended green but closed near low of the day, internals were strong and majority of stocks participated in this rally. Government shutdown is avoided again and tax reform is ready to take effect. Tax reform is a huge catalyst for US economy and many corporation are already making adjustment in wages / bonus. There is only a closing BLOG on Friday's around 7 PM.
BLOG does NOT give buy or sell.
Saleem
Indices UP .27% to .40%.....NICE !!!!
Indices are higher on optimism with tax changes and its positive impact on economy and US GDP growth.
S&P 500 @ 2689.78, high 2692.64, low 2682.40
Internals are positive by minimum 2 to 1
Oil UP 19 cents
Gold UP 50 cents
Canadian $ 1.15 @ .7281 cent on very strong retail sales and inflation perking, means Canadian Central bank will raise interest rate in January.....
VIX Down .82% @ 9.64
In my portfolio Sold WB @ $109.48
Portfolio BIDU CTRP MRVL MOMO SHOP SQ
Most stocks are UP
@ 2.24 PM following are red :
MRVL MOMO SHOP BZUN AMD MU TWTR AMZN
LVS MA TWLO FNSR FEYE YELP RIOT TRIL CMG
MLNX ORCL PANW LRCX....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2689.78, high 2692.64, low 2682.40
Internals are positive by minimum 2 to 1
Oil UP 19 cents
Gold UP 50 cents
Canadian $ 1.15 @ .7281 cent on very strong retail sales and inflation perking, means Canadian Central bank will raise interest rate in January.....
VIX Down .82% @ 9.64
In my portfolio Sold WB @ $109.48
Portfolio BIDU CTRP MRVL MOMO SHOP SQ
Most stocks are UP
@ 2.24 PM following are red :
MRVL MOMO SHOP BZUN AMD MU TWTR AMZN
LVS MA TWLO FNSR FEYE YELP RIOT TRIL CMG
MLNX ORCL PANW LRCX....
BLOG does NOT give buy or sell.
Saleem
Wednesday, December 20, 2017
Indices closed down .04% to .11%....
Indices closed down.
S&P 500 @ 2679.25, low 2676.11, high 2691.01
RSI @ 69.40
CMF @ -.0068
Internals were :
UP volume led by 1.19 to 1 in NYSE & 1.27 to 1 in Nasdaq
Advancing stocks led by 1.01 to 1 in NYSE & 1.01 to 1 in Nasdaq
( not a typo )
Net new 52 wk highs were leading by 120 in NYSE & 74 in Nasdaq
VIX Down 3.09% @ 9.72
Oil @ $58.09
Gold @ $1269.60
Stocks which were UP 1% or more included MU CNQ GG ABX
TECK FCX KGC LEN CHK RIG CIEN TRIL WYNN MLNX
AEM SWKS OPK X LRCX.....
AH news...BBBY Down 4.76%, PCG Down 9.53%
AH Futures Mixed
AH Asian Markets Down
AH Oil Down
AH Gold UP
About market, TAPE was weak by close by closing near low of the day, tax passage was baked into market and it became " soft sell the news " ...Internals were slightly positive. CMF has turned negative in all 3 major indices, this means there was profit taking during rallies. How we close is always important, two days it has been strong rally @ open and fade by close.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2679.25, low 2676.11, high 2691.01
RSI @ 69.40
CMF @ -.0068
Internals were :
UP volume led by 1.19 to 1 in NYSE & 1.27 to 1 in Nasdaq
Advancing stocks led by 1.01 to 1 in NYSE & 1.01 to 1 in Nasdaq
( not a typo )
Net new 52 wk highs were leading by 120 in NYSE & 74 in Nasdaq
VIX Down 3.09% @ 9.72
Oil @ $58.09
Gold @ $1269.60
Stocks which were UP 1% or more included MU CNQ GG ABX
TECK FCX KGC LEN CHK RIG CIEN TRIL WYNN MLNX
AEM SWKS OPK X LRCX.....
AH news...BBBY Down 4.76%, PCG Down 9.53%
AH Futures Mixed
AH Asian Markets Down
AH Oil Down
AH Gold UP
About market, TAPE was weak by close by closing near low of the day, tax passage was baked into market and it became " soft sell the news " ...Internals were slightly positive. CMF has turned negative in all 3 major indices, this means there was profit taking during rallies. How we close is always important, two days it has been strong rally @ open and fade by close.
BLOG does NOT give buy or sell.
Saleem
Indices mixed.....
Indices are mixed after tax reforms got approved by House & Senate, now it is ready for signature by President.
S&P 500 @ 2682.21, high 2691.01, low 2676.11
Internals are positive.
Oil UP 49 cents
Gold UP $5.10
Canadian $ UP 37 tick @ .7161
VIX Down 5.08% @ 9.52
Portfolio BIDU CTRP MRVL MOMO SHOP SQ WB
Most stocks are UP
@ 2.30 following are red :
BIDU SHOP SQ WB TSLA BZUN JD FB SNAP
SPWR UA JKS CSIQ EXPE VECO TK RIOT
CMG PANW.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2682.21, high 2691.01, low 2676.11
Internals are positive.
Oil UP 49 cents
Gold UP $5.10
Canadian $ UP 37 tick @ .7161
VIX Down 5.08% @ 9.52
Portfolio BIDU CTRP MRVL MOMO SHOP SQ WB
Most stocks are UP
@ 2.30 following are red :
BIDU SHOP SQ WB TSLA BZUN JD FB SNAP
SPWR UA JKS CSIQ EXPE VECO TK RIOT
CMG PANW.....
BLOG does NOT give buy or sell.
Saleem
Tuesday, December 19, 2017
Indices closed down .15% to .44%.......
Indices closed down.
S&P 500 @ 2681.47, low 2680.74, high 2694.44
RSI @ 70.71
CMF @ -0.013
Internals were :
Down volume led by 1.80 to 1 in NYSE & 1.40 to 1 in Nasdaq
Declining stocks led by 1.82 to 1 in NYSE & 1.82 to 1 in Nasdaq
( not a typo )
Net new 52 wk highs were leading by 117 in NYSE & 110 in Nasdaq
VIX UP 5.25% @ 10.03
Oil @ $56.46
Gold @ $1264.60
AH ER...MU UP 5.39%, RHT Down 3.52%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE was negative today and closed @ low of the day, Market waiting for passage of tax reform, signed and made law of the land. Today's TAPE is very normal based on 70 new all time highs this year, that is a new record for any year. Technicals are telling us that this is a very different TAPE which even i have not observed since since 1970. Stay engaged with this market with your own comfort level, many sectors are on fire, those should be on your portfolio.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2681.47, low 2680.74, high 2694.44
RSI @ 70.71
CMF @ -0.013
Internals were :
Down volume led by 1.80 to 1 in NYSE & 1.40 to 1 in Nasdaq
Declining stocks led by 1.82 to 1 in NYSE & 1.82 to 1 in Nasdaq
( not a typo )
Net new 52 wk highs were leading by 117 in NYSE & 110 in Nasdaq
VIX UP 5.25% @ 10.03
Oil @ $56.46
Gold @ $1264.60
AH ER...MU UP 5.39%, RHT Down 3.52%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE was negative today and closed @ low of the day, Market waiting for passage of tax reform, signed and made law of the land. Today's TAPE is very normal based on 70 new all time highs this year, that is a new record for any year. Technicals are telling us that this is a very different TAPE which even i have not observed since since 1970. Stay engaged with this market with your own comfort level, many sectors are on fire, those should be on your portfolio.
BLOG does NOT give buy or sell.
Saleem
Indices down .07% to .37%......
Indices are on hold with a slightly negative bias while waiting for finalization of tax votes.
S&P 500 @ 2686.21, low 2682.78, high 2694.44
Internals are mostly negative.
Oil UP 31 cents
Gold Down $1.60
Canadian $ Down 18 tick @ .7124
VIX UP 5.14% @ 10.02
In my portfolio...Bought MRVL @ $22.50
Portfolio BIDU CTRP MRVL MOMO SHOP SQ WB
Most stocks are down
@ 2.38 following are green :
MRVL MOMO BZUN JD NTES LULU MU TWTR
CNQ BAC LVS SBUX DNKN EXPE SU PCLN
FNSR LNG CIEN RIOT TRIL WYNN AGU
MGA ORCL AEM CRUS SPLK ULTA
KORS CMG X PANW CNX....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2686.21, low 2682.78, high 2694.44
Internals are mostly negative.
Oil UP 31 cents
Gold Down $1.60
Canadian $ Down 18 tick @ .7124
VIX UP 5.14% @ 10.02
In my portfolio...Bought MRVL @ $22.50
Portfolio BIDU CTRP MRVL MOMO SHOP SQ WB
Most stocks are down
@ 2.38 following are green :
MRVL MOMO BZUN JD NTES LULU MU TWTR
CNQ BAC LVS SBUX DNKN EXPE SU PCLN
FNSR LNG CIEN RIOT TRIL WYNN AGU
MGA ORCL AEM CRUS SPLK ULTA
KORS CMG X PANW CNX....
BLOG does NOT give buy or sell.
Saleem
Monday, December 18, 2017
Indices closed UP .54% to .84%....NICE !!!!!
Indices closed UP.
S&P 500 @ 2690.16, high 2694.97, low 2685.92
RSI @ 75.92
CMF @ 0.037
Internals were :
UP volume led by 3.53 to 1 in NYSE & 2.79 to 1 in Nasdaq
Advancing stocks led by 2.42 to 1 in NYSE & 2.13 to 1 in Nasdaq
Net new 52 wk highs were leading by 253 in NYSE & 230 in Nasdaq
VIX UP 1.17% @ 9.53
Oil @ $57.16
Gold @ $1265.60
Stocks which were UP 2% or more included BIDU SHOP SQ WB
NVDA AMD JD OLED NTES SNAP MU VRX TWTR FCX
QRVO SINA CHK YELP FSLR MLNX CRUS ULTA
KORS X M CNX....
In my portfolio :
Sold BZUN @ $32.20
Added 40% SQ @ $37.75
AH Futures UP
AH Asian Markets UP
AH Oil UP
AH Gold Down
About market, TAPE is on a roll in anticipation of tax reform passage by House & Senate and signed off by President before Christmas. Internals were strong. Most sectors participated in today's rally. Surprisingly VIX went UP. Some Chinese stocks perked UP like BIDU, WB, SINA, JD to name a few. Rotation is taking hold plus strong technology stocks are preforming.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2690.16, high 2694.97, low 2685.92
RSI @ 75.92
CMF @ 0.037
Internals were :
UP volume led by 3.53 to 1 in NYSE & 2.79 to 1 in Nasdaq
Advancing stocks led by 2.42 to 1 in NYSE & 2.13 to 1 in Nasdaq
Net new 52 wk highs were leading by 253 in NYSE & 230 in Nasdaq
VIX UP 1.17% @ 9.53
Oil @ $57.16
Gold @ $1265.60
Stocks which were UP 2% or more included BIDU SHOP SQ WB
NVDA AMD JD OLED NTES SNAP MU VRX TWTR FCX
QRVO SINA CHK YELP FSLR MLNX CRUS ULTA
KORS X M CNX....
In my portfolio :
Sold BZUN @ $32.20
Added 40% SQ @ $37.75
AH Futures UP
AH Asian Markets UP
AH Oil UP
AH Gold Down
About market, TAPE is on a roll in anticipation of tax reform passage by House & Senate and signed off by President before Christmas. Internals were strong. Most sectors participated in today's rally. Surprisingly VIX went UP. Some Chinese stocks perked UP like BIDU, WB, SINA, JD to name a few. Rotation is taking hold plus strong technology stocks are preforming.
BLOG does NOT give buy or sell.
Saleem
Indices UP .54% to .85%....NICE !!!!
Indices are higher and in new all time high territory, it is all about tax reform and its impact on 2018 US economy which is expected to improve GDP and economic activity further.
S&P 500 @ 2691.40, high 2694.97, low 2685.92
Internals are positive by 2 to 1 in Adv / Dec & minimum 3 to 1 in positive volume...very strong internals....
Oil down 38 cents
Gold UP $7.10
Canadian $ unchanged @ .7140
VIX Down 1.27% @ 9.30
Portfolio BIDU BZUN CTRP MOMO SHOP SQ WB
Most stocks are UP
@ 2.08 following are red :
TSLA NFLX V SBUX JKS COH MSFT EBAY VECO
FNSR CIEN WYNN ORCL MS NKE ......
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2691.40, high 2694.97, low 2685.92
Internals are positive by 2 to 1 in Adv / Dec & minimum 3 to 1 in positive volume...very strong internals....
Oil down 38 cents
Gold UP $7.10
Canadian $ unchanged @ .7140
VIX Down 1.27% @ 9.30
Portfolio BIDU BZUN CTRP MOMO SHOP SQ WB
Most stocks are UP
@ 2.08 following are red :
TSLA NFLX V SBUX JKS COH MSFT EBAY VECO
FNSR CIEN WYNN ORCL MS NKE ......
BLOG does NOT give buy or sell.
Saleem
Sunday, December 17, 2017
Strength in rotation......
This TAPE is definitely a strong bull, it goes through rotation very efficiently.
First tech was rage, then biotech, then financials and now some technology are back in vogue.
This type of rotation is very healthy in a strong bull market.
Even in major indices, there is rotation, first, it was Nasdaq, then S&P 500 and now Dow is in the lead.
It is not a matter of leaving one sector for the other, but having a very diversified portfolio is the answer.
As each sector takes its turn, your portfolio will be in an ascending pattern in terms of higher and higher overall gains.
You can almost predict rotation for next 3 to 5 trading days, IF you look @ RSI, they are listed below for your evaluation :
DOW 77.01
S&P 500 72.86
Nasdaq 64.89
RUT 57.48
GS 69.48
BAC 65.20
MS 63.98
GOOG 67.59
FB 55.27
SOX 46.69
IF we look @ these broad sectors / indices / stocks, it is very clear, where there is relative value.
Dow is the most overvalued right now and Nasdaq offers relative value.
It is important not to ignore strength or to rush for bargain, this TAPE has rewarded strength and ignored bargain.
This TAPE requires in-depth knowledge of technicals as it is taking place now, old values of 60 overbought has been replaced with almost 80 as overbought.
AS we have barely 9 days of trading left in this calendar year and only 7 trading days to close the books, it is imperative that we learn from this new trend.
Take a good look @ your portfolio, it may require some adjustment or taking a non-trader view towards stocks.
Thing's are changing in a big way!
Good luck with your own analysis & comfort level.
BLOG does NOT give buy or sell.
Saleem
First tech was rage, then biotech, then financials and now some technology are back in vogue.
This type of rotation is very healthy in a strong bull market.
Even in major indices, there is rotation, first, it was Nasdaq, then S&P 500 and now Dow is in the lead.
It is not a matter of leaving one sector for the other, but having a very diversified portfolio is the answer.
As each sector takes its turn, your portfolio will be in an ascending pattern in terms of higher and higher overall gains.
You can almost predict rotation for next 3 to 5 trading days, IF you look @ RSI, they are listed below for your evaluation :
DOW 77.01
S&P 500 72.86
Nasdaq 64.89
RUT 57.48
GS 69.48
BAC 65.20
MS 63.98
GOOG 67.59
FB 55.27
SOX 46.69
IF we look @ these broad sectors / indices / stocks, it is very clear, where there is relative value.
Dow is the most overvalued right now and Nasdaq offers relative value.
It is important not to ignore strength or to rush for bargain, this TAPE has rewarded strength and ignored bargain.
This TAPE requires in-depth knowledge of technicals as it is taking place now, old values of 60 overbought has been replaced with almost 80 as overbought.
AS we have barely 9 days of trading left in this calendar year and only 7 trading days to close the books, it is imperative that we learn from this new trend.
Take a good look @ your portfolio, it may require some adjustment or taking a non-trader view towards stocks.
Thing's are changing in a big way!
Good luck with your own analysis & comfort level.
BLOG does NOT give buy or sell.
Saleem
Friday, December 15, 2017
Indices closed UP .58% to 1.17%....NICE !!!!
Indices closed UP on optimism of tax reform which has passed after close. S&P 500, Dow & Nasdaq all closed @ new all time high.
S&P 500 @ 2675.81, high 2679.63, low 2659.14
RSI @ 72.86
CMF @ 0.007
Internals were :
UP volume led by 3.34 to 1 in NYSE & 2.62 to 1 in Nasdaq
Advancing stocks led by 2.25 to 1 in NYSE & 2.31 to 1 in Nasdaq
Net new 52 wk highs were leading by 93 in NYSE & 82 in Nasdaq
VIX Down 10.20% @ 9.42
Oil @ $57.30
Gold @ $1257.50
Canadian $ @ .7153
Stocks which were UP 1% or more included BZUN CTRP SHOP
TSLA BABA AAPL NVDA AMD GE FB LULU SPWR BAC
TECK GOOG FCX UA JKS MSFT SINA DNKN EBAY TK
FEYE FSLR.......
Here is my portfolio weighting :
BIDU 28.60%
SHOP 18.10%
CTRP 16.20%
BZUN 11.80%
WB 10.10%
SQ 9.10%
MOMO 6.10%
Next post by 6 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2675.81, high 2679.63, low 2659.14
RSI @ 72.86
CMF @ 0.007
Internals were :
UP volume led by 3.34 to 1 in NYSE & 2.62 to 1 in Nasdaq
Advancing stocks led by 2.25 to 1 in NYSE & 2.31 to 1 in Nasdaq
Net new 52 wk highs were leading by 93 in NYSE & 82 in Nasdaq
VIX Down 10.20% @ 9.42
Oil @ $57.30
Gold @ $1257.50
Canadian $ @ .7153
Stocks which were UP 1% or more included BZUN CTRP SHOP
TSLA BABA AAPL NVDA AMD GE FB LULU SPWR BAC
TECK GOOG FCX UA JKS MSFT SINA DNKN EBAY TK
FEYE FSLR.......
Here is my portfolio weighting :
BIDU 28.60%
SHOP 18.10%
CTRP 16.20%
BZUN 11.80%
WB 10.10%
SQ 9.10%
MOMO 6.10%
Next post by 6 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
Thursday, December 14, 2017
Indices closed down .28% to .41%.....
Indices closed down.
S&P 500 @ 2652.01, low 2652.01, high 2668.09
RSI @ 66.24
CMF @ -0.021
Internals were :
Down volume led by 2.67 to 1 in NYSE & 1.54 to 1 in Nasdaq
Declining stocks led by 1.90 to 1 in NYSE & 2.25 to 1 in Nasdaq
Net new 52 wk highs were leading by 40 in NYSE & 21 in Nasdaq
VIX UP 3.05% @ 10.49
Oil @ $57.04
Gold @ $1257.10
AH ER....ORCL Down 6.63%
AH Futures Mixed
AH Asian Markets Down
AH Oil UP
AH Gold Down
About market, TAPE was weak due to overbought conditions, money flow getting negative and tax politicking which has put a temporary hold on reform. Indices closed @ low of the day. I do not believe that this negativity is bad, it is actually healthy to get technicals back in order. There is only a closing BLOG on Friday's around 7 PM.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2652.01, low 2652.01, high 2668.09
RSI @ 66.24
CMF @ -0.021
Internals were :
Down volume led by 2.67 to 1 in NYSE & 1.54 to 1 in Nasdaq
Declining stocks led by 1.90 to 1 in NYSE & 2.25 to 1 in Nasdaq
Net new 52 wk highs were leading by 40 in NYSE & 21 in Nasdaq
VIX UP 3.05% @ 10.49
Oil @ $57.04
Gold @ $1257.10
AH ER....ORCL Down 6.63%
AH Futures Mixed
AH Asian Markets Down
AH Oil UP
AH Gold Down
About market, TAPE was weak due to overbought conditions, money flow getting negative and tax politicking which has put a temporary hold on reform. Indices closed @ low of the day. I do not believe that this negativity is bad, it is actually healthy to get technicals back in order. There is only a closing BLOG on Friday's around 7 PM.
BLOG does NOT give buy or sell.
Saleem
Indices down .06% to .16%.......
Indices are lower on overbought conditions and exiting money flow.
S&P 500 @ 2658.40, low 2657.10, high 2668.09
Internals are negative.
Oil UP 31 cents
Gold UP $8.20
Canadian $ UP 72 tick .7259
VIX Down .20% @ 10.16
In my portfolio added 70% SQ @ $37.34
Portfolio BIDU BZUN CTRP MOMO SHOP SQ WB
Most stocks are down
@ 2.13 following are green :
MOMO SHOP SQ TSLA NVDA NFLX FB OLED
SNAP LULU SPWR MU TWTR GOOG AMZN
ABX EXPE PCLN TK FEYE LNG MA ORCL
SINA SPLK ULTA NKE PANW LRCX....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2658.40, low 2657.10, high 2668.09
Internals are negative.
Oil UP 31 cents
Gold UP $8.20
Canadian $ UP 72 tick .7259
VIX Down .20% @ 10.16
In my portfolio added 70% SQ @ $37.34
Portfolio BIDU BZUN CTRP MOMO SHOP SQ WB
Most stocks are down
@ 2.13 following are green :
MOMO SHOP SQ TSLA NVDA NFLX FB OLED
SNAP LULU SPWR MU TWTR GOOG AMZN
ABX EXPE PCLN TK FEYE LNG MA ORCL
SINA SPLK ULTA NKE PANW LRCX....
BLOG does NOT give buy or sell.
Saleem
Wednesday, December 13, 2017
Indices closed mixed......
Indices closed mixed.
S&P 500 @ 2662.85, low 2662.85, high 2671.88
RSI @ 73.85
CMF @ 0.024
Internals were :
UP volume led by .95 to 1 in NYSE & 1.63 to 1 in Nasdaq
Advancing stocks led by 1.27 to 1 in NYSE & 1.61 to 1 in Nasdaq
Net new 52 wk highs were leading by 119 in NYSE & 53 in Nasdaq
VIX UP 2.62% @ 10.18
Oil @ $56.60
Gold @ $1248.60
Stocks which were UP 1% or more included BZUN SHOP WB
BABA AMD NFLX JD NTES GG ABX KGC AEM TECK
FCX LVS WYNN SINA PCLN FNSR LNG YELP MCD
MLNX NKE......
AH news...FEYE Down 3.08%, PIR Down 23.97%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE wanted to celebrate Fed decision to raise interest rate by .25% and agreement on 21% corporate tax, but overbought conditions and sell the news took a toll on S&P 500 which ended @ low of the day and red. Dow closed @ new all time high and S&P 500 made a new intraday high. CMF is giving warning sign that money is exiting all major indices and barely positive.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2662.85, low 2662.85, high 2671.88
RSI @ 73.85
CMF @ 0.024
Internals were :
UP volume led by .95 to 1 in NYSE & 1.63 to 1 in Nasdaq
Advancing stocks led by 1.27 to 1 in NYSE & 1.61 to 1 in Nasdaq
Net new 52 wk highs were leading by 119 in NYSE & 53 in Nasdaq
VIX UP 2.62% @ 10.18
Oil @ $56.60
Gold @ $1248.60
Stocks which were UP 1% or more included BZUN SHOP WB
BABA AMD NFLX JD NTES GG ABX KGC AEM TECK
FCX LVS WYNN SINA PCLN FNSR LNG YELP MCD
MLNX NKE......
AH news...FEYE Down 3.08%, PIR Down 23.97%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE wanted to celebrate Fed decision to raise interest rate by .25% and agreement on 21% corporate tax, but overbought conditions and sell the news took a toll on S&P 500 which ended @ low of the day and red. Dow closed @ new all time high and S&P 500 made a new intraday high. CMF is giving warning sign that money is exiting all major indices and barely positive.
BLOG does NOT give buy or sell.
Saleem
Indices UP .17% to .49%....NICE !!!!
Indices are UP as Federal Reserve raises interest rates by .25%.
S&P 500 @ 2668.88, high 2671.88, low 2664.42
Internals are positive
Oil Down 29 cents
Gold UP $9.00
Canadian $ UP by 9 tick @ .7149
VIX Down .40% @ 9.88
In my portfolio Bought SQ @ $38.03
Portfolio BIDU BZUN CTRP MOMO SHOP SQ WB
Most stocks are UP
@ 2.18 following are down :
SQ TSLA NVDA GE SNAP LULU SPWR TWTR CNQ
BAC AMZN MA JKS COH QRVO CSIQ SU FFIV
RIG MA ORCL MS CRUS SWKS FSLR AAL
CNX.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2668.88, high 2671.88, low 2664.42
Internals are positive
Oil Down 29 cents
Gold UP $9.00
Canadian $ UP by 9 tick @ .7149
VIX Down .40% @ 9.88
In my portfolio Bought SQ @ $38.03
Portfolio BIDU BZUN CTRP MOMO SHOP SQ WB
Most stocks are UP
@ 2.18 following are down :
SQ TSLA NVDA GE SNAP LULU SPWR TWTR CNQ
BAC AMZN MA JKS COH QRVO CSIQ SU FFIV
RIG MA ORCL MS CRUS SWKS FSLR AAL
CNX.....
BLOG does NOT give buy or sell.
Saleem
Tuesday, December 12, 2017
Indices closed mixed......
Indices closed mixed.
S&P 500 @ 2664.11, high 2669.72, low 2659.78
RSI @ 74.78
CMF @ 0.119
Internals were :
Down volume led by .76 to 1 in NYSE & 1.26 to 1 in Nasdaq
Declining stocks led by 1.18 to 1 in NYSE & 1.26 to 1 in Nasdaq
Net new 52 wk highs were leading by 99 in NYSE & 42 in Nasdaq
VIX UP 6.21% @ 9.92
Oil @ $57.14
Gold @ $1241.70
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold UP.
About market, TAPE was mixed with Nasdaq closing lower, S&P 500 & Dow closed @ new all time high. Internals were mostly negative. Wednesday @ 2 PM is all about Fed announcement, it is going to raise interest rates, it will be greeted with positive move in markets. Financials continue to benefit from upcoming higher rate environment, as profitability soars for financials. Tax reform will come to fruition soon.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2664.11, high 2669.72, low 2659.78
RSI @ 74.78
CMF @ 0.119
Internals were :
Down volume led by .76 to 1 in NYSE & 1.26 to 1 in Nasdaq
Declining stocks led by 1.18 to 1 in NYSE & 1.26 to 1 in Nasdaq
Net new 52 wk highs were leading by 99 in NYSE & 42 in Nasdaq
VIX UP 6.21% @ 9.92
Oil @ $57.14
Gold @ $1241.70
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold UP.
About market, TAPE was mixed with Nasdaq closing lower, S&P 500 & Dow closed @ new all time high. Internals were mostly negative. Wednesday @ 2 PM is all about Fed announcement, it is going to raise interest rates, it will be greeted with positive move in markets. Financials continue to benefit from upcoming higher rate environment, as profitability soars for financials. Tax reform will come to fruition soon.
BLOG does NOT give buy or sell.
Saleem
Indices mixed.....
Indices are mixed but Dow & S&P 500 are in record territory. Indices are near high of the day except Nasdaq.
S&P 500 @ 2668.45, high 2669.72, low 2659.78
Internals are mostly negative.
Oil Down $1.07
Gold Down $3.70
Canadian $ Down 18 tick @ .7128
VIX UP 3.32% @ 9.65
Portfolio BIDU BZUN CTRP MOMO SHOP WB
Most stocks are down
@ 2.25 following are green :
CTRP TSLA NFLX GE VRX BAC TECK GOOG FCX
UA V SBUX MA LEN MSFT DNKN EXPE SU
FFIV PCLN TK RIG LNG YELP GS AGU
TRIP MGA MS CRUS KORS NKE KBH
CMG M.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2668.45, high 2669.72, low 2659.78
Internals are mostly negative.
Oil Down $1.07
Gold Down $3.70
Canadian $ Down 18 tick @ .7128
VIX UP 3.32% @ 9.65
Portfolio BIDU BZUN CTRP MOMO SHOP WB
Most stocks are down
@ 2.25 following are green :
CTRP TSLA NFLX GE VRX BAC TECK GOOG FCX
UA V SBUX MA LEN MSFT DNKN EXPE SU
FFIV PCLN TK RIG LNG YELP GS AGU
TRIP MGA MS CRUS KORS NKE KBH
CMG M.....
BLOG does NOT give buy or sell.
Saleem
Monday, December 11, 2017
Indices closed UP .23% to .51%.....NICE !!!!
Indices closed UP.
S&P 500 @ 2659.99, high 2660.33, low 2651.47
RSI @ 73.78
CMF @ 0.153
Internals were :
UP volume led by 1.63 to 1 in NYSE & 1.75 to 1 in Nasdaq
Advancing stocks led by 1.17 to 1 in NYSE & .88 to 1 in Nasdaq
Net new 52 wk highs were leading by 96 in NYSE & 34 in Nasdaq
VIX Down 2.51% @ 9.34
Oil @ $57.99
Gold @ $1246.90
Stocks which were UP 1%+ included BZUN MOMO SHOP WB
TSLA AAPL NVDA AMD NTES SNAP SPWR VRX TWTR TECK
LVS WYNN QRVO MSFT CSIQ SINA AGU TRIP YELP FNSR
ORCL SPLK NKE CNX.....
AH news....JBL UP 7.22%
AH Futures UP
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE finished near high of the day, Dow & S&P 500 closed @ new all time high. Internals were mixed. We are in overbought territory in Dow & S&P 500 while Nasdaq is not, SOX is a big question mark in terms of weakness. VIX @ 9.34 is near 52 wk low of 8.56. IF rotation works then technology is a good area for now while financials rest.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2659.99, high 2660.33, low 2651.47
RSI @ 73.78
CMF @ 0.153
Internals were :
UP volume led by 1.63 to 1 in NYSE & 1.75 to 1 in Nasdaq
Advancing stocks led by 1.17 to 1 in NYSE & .88 to 1 in Nasdaq
Net new 52 wk highs were leading by 96 in NYSE & 34 in Nasdaq
VIX Down 2.51% @ 9.34
Oil @ $57.99
Gold @ $1246.90
Stocks which were UP 1%+ included BZUN MOMO SHOP WB
TSLA AAPL NVDA AMD NTES SNAP SPWR VRX TWTR TECK
LVS WYNN QRVO MSFT CSIQ SINA AGU TRIP YELP FNSR
ORCL SPLK NKE CNX.....
AH news....JBL UP 7.22%
AH Futures UP
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE finished near high of the day, Dow & S&P 500 closed @ new all time high. Internals were mixed. We are in overbought territory in Dow & S&P 500 while Nasdaq is not, SOX is a big question mark in terms of weakness. VIX @ 9.34 is near 52 wk low of 8.56. IF rotation works then technology is a good area for now while financials rest.
BLOG does NOT give buy or sell.
Saleem
Indices UP .17% to .47%....NICE !!!!
Indices are higher on higher oil. Indices are near high of the day.
S&P 500 @ 2658.03, high 2659.36, low 2651.47
Internals are positive
Oil UP 60 cents
Gold Down $2.70
Canadian $ Down 1 tick @ .7156
VIX Down 1.25% @ 9.46
Portfolio BIDU BZUN CTRP MOMO SHOP WB
Most stocks are UP
@ 2.30 following are red :
BIDU SQ NFLX GE OLED LULU MU SWIR BAC
UA KGC JKS COH LEN EBAY YUM FFIV
PCLN FSLR MGA MS MCD AEM CRUS
ULTA KORS GG KBH CMG LRCX.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2658.03, high 2659.36, low 2651.47
Internals are positive
Oil UP 60 cents
Gold Down $2.70
Canadian $ Down 1 tick @ .7156
VIX Down 1.25% @ 9.46
Portfolio BIDU BZUN CTRP MOMO SHOP WB
Most stocks are UP
@ 2.30 following are red :
BIDU SQ NFLX GE OLED LULU MU SWIR BAC
UA KGC JKS COH LEN EBAY YUM FFIV
PCLN FSLR MGA MS MCD AEM CRUS
ULTA KORS GG KBH CMG LRCX.....
BLOG does NOT give buy or sell.
Saleem
Sunday, December 10, 2017
Dow & S&P 500 overbought....BUT
Here is a quick snapshot of indices and some sectors, they are giving conflicting reading, IF you believe strong sectors, then we are in trouble, BUT.....IF you look @ weak sectors, then it is a screaming buy....based on old lense....
Here is the story of RSI in select sectors / indices :
XLF 75.50
DOW 74.13
S&P 500 71.63
Nasdaq 57.31
RUT 55.81
SOX 40.15
As you can clearly see from the above sample, where it is overbought and where it is " deep value " or maybe NOT...
Star of this rally was financials where MS GS BAC JPM WFC C have taken this sector into strongest performance in many years.
BUT.....SOX is where the " deep value is " or is it ?
Nasdaq is definitely lagging considering AMZN GOOG AAPL are heavy weighting.....
Nothing to worry here, but financials may be the story for next 5 years, like technology has been since bottom of 2009.....
For historical perspective S&P 500 was 666.79 in 2009, today it is 2651.56...a gain of 1984.77 or almost a gain of triple......
Gains in Nasdaq has been off the carts..looking @ 5 times in same period from bottom of 2009...
On a relative basis S&P 500 has more room to run....
We all are too used to technology stocks, which needs to change ASAP.....
Strong gets stronger like financials and weak gets weaker like SOX......
Next week market may gain more momentum on tax deal.....
Anyway......things are changing as illustrated above......
It is extremely prudent to have overweight exposure in financials.......
Good luck with your own evaluation of trend & comfort level.
BLOG does NOT give buy or sell.
Saleem
Here is the story of RSI in select sectors / indices :
XLF 75.50
DOW 74.13
S&P 500 71.63
Nasdaq 57.31
RUT 55.81
SOX 40.15
As you can clearly see from the above sample, where it is overbought and where it is " deep value " or maybe NOT...
Star of this rally was financials where MS GS BAC JPM WFC C have taken this sector into strongest performance in many years.
BUT.....SOX is where the " deep value is " or is it ?
Nasdaq is definitely lagging considering AMZN GOOG AAPL are heavy weighting.....
Nothing to worry here, but financials may be the story for next 5 years, like technology has been since bottom of 2009.....
For historical perspective S&P 500 was 666.79 in 2009, today it is 2651.56...a gain of 1984.77 or almost a gain of triple......
Gains in Nasdaq has been off the carts..looking @ 5 times in same period from bottom of 2009...
On a relative basis S&P 500 has more room to run....
We all are too used to technology stocks, which needs to change ASAP.....
Strong gets stronger like financials and weak gets weaker like SOX......
Next week market may gain more momentum on tax deal.....
Anyway......things are changing as illustrated above......
It is extremely prudent to have overweight exposure in financials.......
Good luck with your own evaluation of trend & comfort level.
BLOG does NOT give buy or sell.
Saleem
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