Indices closed UP.
S&P 500 @ 2711.74, high 2736.69, low 2705.60
RSI @ 41.30
CMF @ -0.109
Internals were :
UP volume led by 1.64 to 1 in NYSE & 2.27 to 1 in Nasdaq
Advancing stocks led by 1.53 to 1 in NYSE & 1.59 to 1 in Nasdaq
Net new 52 wk lows were leading by 162 in NYSE & 90 in Nasdaq
VIX Down 9.08% @ 21.23
Oil @ $65.31
Gold @ $1215.00
Stocks which were UP 4% or more included SQ SPLK FSLR
CGC AMD TLRY AMZN BABA CTRP EAF JKS MOMO
MU NFLX OLED SHOP WB YY NTNX ROKU BZUN
CHK FEYE MA SINA X CNX......
AH news....FIT UP 9.51%, FORM UP 6.21%
OTEX Down 7.31%
AH Futures UP
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE confirmed this uptrend by staging two day's of strong rally where most sectors participated.Tonight Chinese manufacturing PMI came in ahead of expectations @ 50.1% which should give us 3 day's of back to back gains.
BLOG does NOT give buy or sell.
Saleem
Wednesday, October 31, 2018
Indices UP 1.44% to 2.62%....NICE !!!!
Indices are higher and confirming this new UP move.Indices are @ high of the day which is a good sign technically speaking.
S&P 500 @ 2730.36, high 2731.84, low 2705.60
Internals are positive by 2 to 1 and UP volume running almost 3 to 1 in Nasdaq
Oil Down 46 cents
Gold Down $10.60
Canadian $ Down 53 tick @ .6842
VIX Down 9.46% @ 21.14
Portfolio AAPL KORS SQ
Most stocks are UP
@ 2.11 PM Following are red :
AEM GG ESTC CRUS SPWR MCD ABX
KBH IBM M ......
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2730.36, high 2731.84, low 2705.60
Internals are positive by 2 to 1 and UP volume running almost 3 to 1 in Nasdaq
Oil Down 46 cents
Gold Down $10.60
Canadian $ Down 53 tick @ .6842
VIX Down 9.46% @ 21.14
Portfolio AAPL KORS SQ
Most stocks are UP
@ 2.11 PM Following are red :
AEM GG ESTC CRUS SPWR MCD ABX
KBH IBM M ......
BLOG does NOT give buy or sell.
Saleem
Tuesday, October 30, 2018
Indices closed UP 1.57% to 1.77%.....NICE !!!!
Indices closed UP.
S&P 500 @ 2682.63, high 2685.43, low 2635.34
RSI @ 36.56
CMF @ -0.097
Internals were :
UP volume led by 3.44 to 1 in NYSE & 2.51 to 1 in Nasdaq
Advancing stocks led by 2.23 to 1 in NYSE & 2.09 to 1 in Nasdaq
Net new 52 wk lows were leading by 384 in NYSE & 207 in Nasdaq
VIX Down 5.47% @ 23.35
Oil @ $66.18
Gold @ $1225.30
Stocks which were UP 2% or more included FB SQ ESTC
NVDA SPLK MTCH VICR FSLR AMAT CRUS BABA
CIEN CSIQ CTRP EAF EXPE LRCX LULU MRVL MU
OLED QRVO TWTR ROKU RIG FEYE LNG YELP
WYNN GS TRIP MLNX ORCL MCD SWKS TSM
NKE KBH CMG AAL M CNX........
AH news....IQ down 12.84%, BEAT UP 3.13%
FB UP 3.13%
FB reported a miss on revenue and user but beat EPS by a wide margin,listened to FB conference call, impression I got they are guiding revenue and EPS lower than consensus for next 2 quarters due to higher expenses, higher investment and higher tax rates. Thus decided to sell FB in AH @ $152.00.
Also bought AAPL in AH @ $214.50
SQ bought @ $67.30 during reg hour.
Portfolio AAPL KORS SQ
AH Futures Mixed
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE closed near high of the day after some hesitation.Many stocks participated in today's rally. Internals were positive for the most part. We need confirmation of any UP move by a positive close next day, tomorrow close will confirm or deny that. This remains a very difficult TAPE, FB in AH fluctuated wildly on same news low was $136.40 twice before & after conference call, high was $154.45 an $18 swing on same result?
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2682.63, high 2685.43, low 2635.34
RSI @ 36.56
CMF @ -0.097
Internals were :
UP volume led by 3.44 to 1 in NYSE & 2.51 to 1 in Nasdaq
Advancing stocks led by 2.23 to 1 in NYSE & 2.09 to 1 in Nasdaq
Net new 52 wk lows were leading by 384 in NYSE & 207 in Nasdaq
VIX Down 5.47% @ 23.35
Oil @ $66.18
Gold @ $1225.30
Stocks which were UP 2% or more included FB SQ ESTC
NVDA SPLK MTCH VICR FSLR AMAT CRUS BABA
CIEN CSIQ CTRP EAF EXPE LRCX LULU MRVL MU
OLED QRVO TWTR ROKU RIG FEYE LNG YELP
WYNN GS TRIP MLNX ORCL MCD SWKS TSM
NKE KBH CMG AAL M CNX........
AH news....IQ down 12.84%, BEAT UP 3.13%
FB UP 3.13%
FB reported a miss on revenue and user but beat EPS by a wide margin,listened to FB conference call, impression I got they are guiding revenue and EPS lower than consensus for next 2 quarters due to higher expenses, higher investment and higher tax rates. Thus decided to sell FB in AH @ $152.00.
Also bought AAPL in AH @ $214.50
SQ bought @ $67.30 during reg hour.
Portfolio AAPL KORS SQ
AH Futures Mixed
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE closed near high of the day after some hesitation.Many stocks participated in today's rally. Internals were positive for the most part. We need confirmation of any UP move by a positive close next day, tomorrow close will confirm or deny that. This remains a very difficult TAPE, FB in AH fluctuated wildly on same news low was $136.40 twice before & after conference call, high was $154.45 an $18 swing on same result?
BLOG does NOT give buy or sell.
Saleem
Indices UP .34% to .68%.....NICE !!!!
Indices are trying to stay in green after losing gains earlier.
S&P 500 @ 2653.64, high 2673.82, low 2635.34
Internals are positive
Oil Down $1.08
Gold Down $2.90
Canadian $ Down 5 tick @ .6862
VIX UP .12% @ 24.73
In my portfolio :
Sold ESTC @ $66.58
Bought KORS @ $54.20
Portfolio FB KORS
Most stocks are UP
@ 2.28 PM following are down :
KORS SQ AAPL GE AMD TLRY BZUN PRNB
AMZN GOOG NFLX PANW SHOP TSLA WB
ALDR CHK LVS MLNX MA SINA MSFT
ULTA IBM V.....
FB reports tonight, expectations are :
Q3 Sales $13.78 Billions, EPS $147
Guidance expected Q4 Sales $16.34 Billion, EPS $2.17
This quarter is low point for FB from Q4 Sales & EPS
should be higher than previous year....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2653.64, high 2673.82, low 2635.34
Internals are positive
Oil Down $1.08
Gold Down $2.90
Canadian $ Down 5 tick @ .6862
VIX UP .12% @ 24.73
In my portfolio :
Sold ESTC @ $66.58
Bought KORS @ $54.20
Portfolio FB KORS
Most stocks are UP
@ 2.28 PM following are down :
KORS SQ AAPL GE AMD TLRY BZUN PRNB
AMZN GOOG NFLX PANW SHOP TSLA WB
ALDR CHK LVS MLNX MA SINA MSFT
ULTA IBM V.....
FB reports tonight, expectations are :
Q3 Sales $13.78 Billions, EPS $147
Guidance expected Q4 Sales $16.34 Billion, EPS $2.17
This quarter is low point for FB from Q4 Sales & EPS
should be higher than previous year....
BLOG does NOT give buy or sell.
Saleem
Monday, October 29, 2018
Indices closed down .66% to 1.63%........
Indices closed down.
S&P 500 @ 2641.25, low 2603.54, high 2706.85
RSI @ 28.98
CMF @ -0.171
Internals were :
Down volume led by 1.48 to 1 in NYSE & 2.03 to 1 in Nasdaq
Declining stocks led by 1.44 to 1 in NYSE & 1.45 to 1 in Nasdaq
Net new 52 wk lows were leading by 617 in NYSE & 322 in Nasdaq
VIX UP 2.24% @ 24.70
Oil @ $67.04
Gold @ $1227.60
AH news.....CHGG UP 6.57%, AKAM UP 10.23%
CGNX Down 10.35%, TXRH Down 11.32%
AH Futures Down
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE showed its weakness by opening sharply higher and then gave up all gains and went into slump, DOW was UP 352 and went Down 566 points a total slump of 918 points today. How we will know that this TAPE has found its support when bad earnings is ignored and we close higher, who knows we may see it tomorrow AH when FB reports....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2641.25, low 2603.54, high 2706.85
RSI @ 28.98
CMF @ -0.171
Internals were :
Down volume led by 1.48 to 1 in NYSE & 2.03 to 1 in Nasdaq
Declining stocks led by 1.44 to 1 in NYSE & 1.45 to 1 in Nasdaq
Net new 52 wk lows were leading by 617 in NYSE & 322 in Nasdaq
VIX UP 2.24% @ 24.70
Oil @ $67.04
Gold @ $1227.60
AH news.....CHGG UP 6.57%, AKAM UP 10.23%
CGNX Down 10.35%, TXRH Down 11.32%
AH Futures Down
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE showed its weakness by opening sharply higher and then gave up all gains and went into slump, DOW was UP 352 and went Down 566 points a total slump of 918 points today. How we will know that this TAPE has found its support when bad earnings is ignored and we close higher, who knows we may see it tomorrow AH when FB reports....
BLOG does NOT give buy or sell.
Saleem
Indices mixed......
Indices are mixed after opening much higher and going into usual bearish fade.Indices are near low of the day.
S&P 500 @ 2669.41, high 2706.85, low 2666.46
Internals are positive
Oil Down 30 cents
Gold Down $7.30
Canadian $ Down 17 tick @ .6878
VIX UP 1.16% @ 24.44
Portfolio ESTC FB
Most stocks are down
@ 2.14 following are green :
ESTC SPLK MTCH VICR RHT PRNB CRUS CIEN
EXPE LULU MRVL TSLA TWTR NTNX TK YELP
GS TRIP MS MGA MCD AEM ULTA SWKS GG
NKE CMG AAL X M CNX ....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2669.41, high 2706.85, low 2666.46
Internals are positive
Oil Down 30 cents
Gold Down $7.30
Canadian $ Down 17 tick @ .6878
VIX UP 1.16% @ 24.44
Portfolio ESTC FB
Most stocks are down
@ 2.14 following are green :
ESTC SPLK MTCH VICR RHT PRNB CRUS CIEN
EXPE LULU MRVL TSLA TWTR NTNX TK YELP
GS TRIP MS MGA MCD AEM ULTA SWKS GG
NKE CMG AAL X M CNX ....
BLOG does NOT give buy or sell.
Saleem
Sunday, October 28, 2018
Lower lows means trouble for US market.......
Indices have been taking out lows and piercing through.
Market outlook is extremely bearish.
Here is a look @ RSI :
TAN 27.45
RUT 28.04
SOX 28.74
S&P 500 30.40
Nasdaq 33.85
DOW 34.85
As you can clearly see.....all index / Indices are in deep oversold condition for a while...
DOW S&P 500 and Nasdaq are all below 200 DMA....
Nasdaq is the to far deep away from 200 DMA.
SO... what is the catalyst that can change direction ?
Earnings definitely are disappointing....so they are not the catalyst..
Interest rate scenario is extremely bearish, as much as 4 in 2019 and 1 more in December of 2018.
US internal politics is far from healthy, total divided nation...that cannot be healthy for economic growth.
Worldwide trade issues are still bogging down Chinese economy, which is slowing than consensus.
India is facing own challenges.
EU has to deal with Italy and Brexit...no agreement there either....
FB reports on Tuesday AH
AAPL reports on Thursday AH
Even IF they report better than expected, rally may be short lived as market trend is extremely bearish.
Bottom line is......stay conservative with less exposure, this " trend is NOT your friend "
Good luck with your own analysis and comfort level.
BLOG does NOT give buy or sell.
Saleem
Market outlook is extremely bearish.
Here is a look @ RSI :
TAN 27.45
RUT 28.04
SOX 28.74
S&P 500 30.40
Nasdaq 33.85
DOW 34.85
As you can clearly see.....all index / Indices are in deep oversold condition for a while...
DOW S&P 500 and Nasdaq are all below 200 DMA....
Nasdaq is the to far deep away from 200 DMA.
SO... what is the catalyst that can change direction ?
Earnings definitely are disappointing....so they are not the catalyst..
Interest rate scenario is extremely bearish, as much as 4 in 2019 and 1 more in December of 2018.
US internal politics is far from healthy, total divided nation...that cannot be healthy for economic growth.
Worldwide trade issues are still bogging down Chinese economy, which is slowing than consensus.
India is facing own challenges.
EU has to deal with Italy and Brexit...no agreement there either....
FB reports on Tuesday AH
AAPL reports on Thursday AH
Even IF they report better than expected, rally may be short lived as market trend is extremely bearish.
Bottom line is......stay conservative with less exposure, this " trend is NOT your friend "
Good luck with your own analysis and comfort level.
BLOG does NOT give buy or sell.
Saleem
Friday, October 26, 2018
Indices closed down 1.19% to 2.06%.....
Indices closed down on continued bearish TAPE.
S&P 500 @ 2658.69, low 2628.16, high 2692.38
RSI @ 30.40
CMF @ -0.171
Internals were :
Down volume led by 2.92 to 1 in NYSE & 2.94 to 1 in Nasdaq
Declining stocks led by 2.68 to 1 in NYSE & 2.13 to 1 in Nasdaq
Net new 52 wk lows were leading by 777 in NYSE & 426 in Nasdaq
VIX Down .25% @ 24.16
Oil @ $67.59
Gold @ $1235.80
Canadian $ .6896
Stocks which were UP included TLRY PRNB BILI CTRP EXPE
MOMO TSLA TWTR WB YY ALDR TK WB MLNX MGA
SINA ABX SU ULTA GG KBH CMG AAL.....
Portfolio ESTC FB
Next post by 6 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2658.69, low 2628.16, high 2692.38
RSI @ 30.40
CMF @ -0.171
Internals were :
Down volume led by 2.92 to 1 in NYSE & 2.94 to 1 in Nasdaq
Declining stocks led by 2.68 to 1 in NYSE & 2.13 to 1 in Nasdaq
Net new 52 wk lows were leading by 777 in NYSE & 426 in Nasdaq
VIX Down .25% @ 24.16
Oil @ $67.59
Gold @ $1235.80
Canadian $ .6896
Stocks which were UP included TLRY PRNB BILI CTRP EXPE
MOMO TSLA TWTR WB YY ALDR TK WB MLNX MGA
SINA ABX SU ULTA GG KBH CMG AAL.....
Portfolio ESTC FB
Next post by 6 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
Thursday, October 25, 2018
Indices closed UP 1.63% to 2.93% NICE !!!!
Indices closed UP.
S&P 500 @ 2705.62, high 2722.70, low 2667.84
RSI @ 34.64
CMF @ -0.208
Internals were :
UP volume led by 2.54 to 1 in NYSE & 2.65 to 1 in Nasdaq
Advancing stocks led by 2.57 to 1 in NYSE & 2.64 to 1 in Nasdaq
Net new 52 wk lows were leading by 288 in NYSE & 256 in Nasdaq
VIX Down 7.77% @ 23.27
Oil $67.07
Gold $1232.70
Stocks which were UP 3% or more included FB NVDA SQ VICR
RHT BZUN PRNB AMZN BABA BIDU GOOG MU NFLX
OLED PANW QRVO SHOP TSLA TWTR YY ALDR
RIG FEYE LNG WYNN LVS YELP MA OSTK MSFT
SWKS KBH V AAL X......
About market, TAPE had a deep oversold bounce, need another close near high of the day to confirm this move. Fed is keen on raising rates IF it is discounted in the market then we will be OK IF not same slump again. There is only a closing BLOG on Friday's around 7 PM.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2705.62, high 2722.70, low 2667.84
RSI @ 34.64
CMF @ -0.208
Internals were :
UP volume led by 2.54 to 1 in NYSE & 2.65 to 1 in Nasdaq
Advancing stocks led by 2.57 to 1 in NYSE & 2.64 to 1 in Nasdaq
Net new 52 wk lows were leading by 288 in NYSE & 256 in Nasdaq
VIX Down 7.77% @ 23.27
Oil $67.07
Gold $1232.70
Stocks which were UP 3% or more included FB NVDA SQ VICR
RHT BZUN PRNB AMZN BABA BIDU GOOG MU NFLX
OLED PANW QRVO SHOP TSLA TWTR YY ALDR
RIG FEYE LNG WYNN LVS YELP MA OSTK MSFT
SWKS KBH V AAL X......
About market, TAPE had a deep oversold bounce, need another close near high of the day to confirm this move. Fed is keen on raising rates IF it is discounted in the market then we will be OK IF not same slump again. There is only a closing BLOG on Friday's around 7 PM.
BLOG does NOT give buy or sell.
Saleem
Indices UP 1.52% to 2.72%.....NICE !!!!
Indices are staging a deeply oversold bounce. Indices are near high of the day.
S&P 500 @ 2703.09, high 2707.13, low 2667.84
Internals are positive by max 3 to 1, mostly 2 to 1
Oil UP 58 cents
Gold UP 20 cents
Canadian $ Down 26 tick @ .6922
VIX Down 8.22% @ 23.03
Portfolio ESTC FB
Most stocks are UP
@ 2.03 following are red :
GE AMD CSIQ TK MCD ABX AEM GG IBM
BLOG does NOT give buy or sell.
Closing BLOG will be @ 4 PM today as I am tied up in the evening.
Saleem
S&P 500 @ 2703.09, high 2707.13, low 2667.84
Internals are positive by max 3 to 1, mostly 2 to 1
Oil UP 58 cents
Gold UP 20 cents
Canadian $ Down 26 tick @ .6922
VIX Down 8.22% @ 23.03
Portfolio ESTC FB
Most stocks are UP
@ 2.03 following are red :
GE AMD CSIQ TK MCD ABX AEM GG IBM
BLOG does NOT give buy or sell.
Closing BLOG will be @ 4 PM today as I am tied up in the evening.
Saleem
Wednesday, October 24, 2018
Indices closed down 2.41% to 4.43%.....
Indices closed down.
S&P 500 @ 2656.10, low 2651.89, high 2742.59
RSI @ 24.30
CMF @ -0.219
Internals were :
Down volume led by 6.57 to 1 in NYSE & 6.21 to 1 in Nasdaq
Declining stocks led by 3.39 to 1 in NYSE & 5.42 to 1 in Nasdaq
Net new 52 wk lows were leading by 709 in NYSE & 539 in Nasdaq
VIX UP 21.83% @ 25.23, high today 26.38
Oil @ $66.82
Gold @ $1231.10
In my portfolio Sold AMD AH $19.40
Portfolio ESTC & FB.....
AH news...XLNX UP 12.85%, TSLA UP 9.74%
AMD Down 22.38%
AH Futures UP
AH Asian Markets Down
AH Oil Down
AH Gold UP
About market, TAPE was in freefall and went to lower lows, Nasdaq had the worst day in 7 years being down 4.43% in a day. There is not much to say except this TAPE is very worried about Fed policy of hiking interest rate, short of firing Powell, nothing seems to be working. It is better to wait with little or no exposure than hoping everyday for a turnaround.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2656.10, low 2651.89, high 2742.59
RSI @ 24.30
CMF @ -0.219
Internals were :
Down volume led by 6.57 to 1 in NYSE & 6.21 to 1 in Nasdaq
Declining stocks led by 3.39 to 1 in NYSE & 5.42 to 1 in Nasdaq
Net new 52 wk lows were leading by 709 in NYSE & 539 in Nasdaq
VIX UP 21.83% @ 25.23, high today 26.38
Oil @ $66.82
Gold @ $1231.10
In my portfolio Sold AMD AH $19.40
Portfolio ESTC & FB.....
AH news...XLNX UP 12.85%, TSLA UP 9.74%
AMD Down 22.38%
AH Futures UP
AH Asian Markets Down
AH Oil Down
AH Gold UP
About market, TAPE was in freefall and went to lower lows, Nasdaq had the worst day in 7 years being down 4.43% in a day. There is not much to say except this TAPE is very worried about Fed policy of hiking interest rate, short of firing Powell, nothing seems to be working. It is better to wait with little or no exposure than hoping everyday for a turnaround.
BLOG does NOT give buy or sell.
Saleem
Only closing BLOG around 9 PM today.....
Due to a friends visit, I am busy whole day.
Today a closing BLOG around 9 PM....
Thanks!
Saleem
Today a closing BLOG around 9 PM....
Thanks!
Saleem
Tuesday, October 23, 2018
Indices closed down .42% to .55%......
Indices closed down.
S&P 500 @ 2740.69, low 2691.43, high 2753.59
RSI @ 32.46
CMF @ -0.198
Internals were :
Down volume led by 2.17 to 1 in NYSE & 1.31 to 1 in Nasdaq
Declining stocks led by 2.40 to 1 in NYSE & 2.13 to 1 in Nasdaq
Net new 52 wk lows were leading by 715 in NYSE & 496 in Nasdaq
VIX UP 5.45% @ 20.71
Oil @ $66.43
Gold @ $1236.80
AH news....PVG UP 4.56%, TER UP 4.81%
TXN Down 6%, IRBT Down 9.62%
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE made a new low and turned UP a good technical picture, selling seems to have made its run already,we have been down 12 out of 14 trading days already, there buyers when DOW was down 548 points and DOW was well below 200 DMA BUT closed above 200 DMA, a very strong turnaround. Market may play jittery for a while more BUT we may have seen the lows.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2740.69, low 2691.43, high 2753.59
RSI @ 32.46
CMF @ -0.198
Internals were :
Down volume led by 2.17 to 1 in NYSE & 1.31 to 1 in Nasdaq
Declining stocks led by 2.40 to 1 in NYSE & 2.13 to 1 in Nasdaq
Net new 52 wk lows were leading by 715 in NYSE & 496 in Nasdaq
VIX UP 5.45% @ 20.71
Oil @ $66.43
Gold @ $1236.80
AH news....PVG UP 4.56%, TER UP 4.81%
TXN Down 6%, IRBT Down 9.62%
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE made a new low and turned UP a good technical picture, selling seems to have made its run already,we have been down 12 out of 14 trading days already, there buyers when DOW was down 548 points and DOW was well below 200 DMA BUT closed above 200 DMA, a very strong turnaround. Market may play jittery for a while more BUT we may have seen the lows.
BLOG does NOT give buy or sell.
Saleem
Indices down 1.07% to 1.23%....
As expected Indices plunged and went to new lows, this TAPE is facing " major technical breakdown "
S&P 500 @ 2724.09, low 2691.43, high 2734.42
Internals are negative by up to 3 to 1
Oil Down $2.91
Gold UP $11.70
Canadian $ UP 4 tick @ .6905
VIX UP 13.34% @ 22.26...high today 24.66
Portfolio AMD ESTC FB
Most stocks are down
@ 1.52 following are UP :
GE CRON RHT LRCX MOMO PANW TSLA
ALDR GPRO MGA OSTK MCD ABX AEM
GG KBH IBM .....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2724.09, low 2691.43, high 2734.42
Internals are negative by up to 3 to 1
Oil Down $2.91
Gold UP $11.70
Canadian $ UP 4 tick @ .6905
VIX UP 13.34% @ 22.26...high today 24.66
Portfolio AMD ESTC FB
Most stocks are down
@ 1.52 following are UP :
GE CRON RHT LRCX MOMO PANW TSLA
ALDR GPRO MGA OSTK MCD ABX AEM
GG KBH IBM .....
BLOG does NOT give buy or sell.
Saleem
Monday, October 22, 2018
Indices closed mixed.....
Indices closed mixed.
S&P 500 @ 2755.88, low 2749.22, high 2778.94
RSI @ 34.38
CMF @ -0.266
Internals were :
Down volume led by 2.02 to 1 in NYSE & .88 to 1 in Nasdaq
Declining stocks led by 1.51 to 1 in NYSE & 1.34 to 1 in Nasdaq
Net new 52 wk lows were leading by 362 in NYSE & 291 in Nasdaq
VIX Down 1.26% @ 19.64
Oil @ $69.17
Gold @ $1224.60
AH news...CDNS UP 11.06%, SSNC UP 7.11%
FLEX Down 4.34%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE was predictable, open higher and closed near low, S&P 500 and Nasdaq are below 200 DMA @ close again, not the direction it should have taken especially after Shanghai 4%+ UP close, relative weakness continues. Only DOW is above 200 DMA barely, IF futures are any indication, we may be be setting up for another low in all major index, not a TAPE to have more than minimum exposure.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2755.88, low 2749.22, high 2778.94
RSI @ 34.38
CMF @ -0.266
Internals were :
Down volume led by 2.02 to 1 in NYSE & .88 to 1 in Nasdaq
Declining stocks led by 1.51 to 1 in NYSE & 1.34 to 1 in Nasdaq
Net new 52 wk lows were leading by 362 in NYSE & 291 in Nasdaq
VIX Down 1.26% @ 19.64
Oil @ $69.17
Gold @ $1224.60
AH news...CDNS UP 11.06%, SSNC UP 7.11%
FLEX Down 4.34%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE was predictable, open higher and closed near low, S&P 500 and Nasdaq are below 200 DMA @ close again, not the direction it should have taken especially after Shanghai 4%+ UP close, relative weakness continues. Only DOW is above 200 DMA barely, IF futures are any indication, we may be be setting up for another low in all major index, not a TAPE to have more than minimum exposure.
BLOG does NOT give buy or sell.
Saleem
Indices mixed......
Indices mixed despite strong close in Shanghai.
S&P 500 @ 2757.00, low 2749.22, high 2778.94
Internals are mostly negative
Oil Down 17 cents
Gold Down $3.60
Canadian $ Down 7 tick @ .6896
VIX UP .50% @ 19.99
Portfolio AMD ESTC FB
Most stocks are down
@ 2.02 following are UP :
AMD FB SPLK SQ MTCH RHT BZUN AMZN BABA
BIDU BILI CTRP FFIV LULU MOMO MRVL WB
SHOP YY ROKU FEYE YELP TRIP MLNX
SINA NKE CMG AAL M .......
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2757.00, low 2749.22, high 2778.94
Internals are mostly negative
Oil Down 17 cents
Gold Down $3.60
Canadian $ Down 7 tick @ .6896
VIX UP .50% @ 19.99
Portfolio AMD ESTC FB
Most stocks are down
@ 2.02 following are UP :
AMD FB SPLK SQ MTCH RHT BZUN AMZN BABA
BIDU BILI CTRP FFIV LULU MOMO MRVL WB
SHOP YY ROKU FEYE YELP TRIP MLNX
SINA NKE CMG AAL M .......
BLOG does NOT give buy or sell.
Saleem
Sunday, October 21, 2018
Troubling trend in market?
This market is defying logic by reacting negatively to extremely positive earnings, case in point NFLX, VICR & more......
Leading averages are showing disturbing divergence, which may not bode well for this TAPE...
Here are snapshot of key indices :
DOW Down 5.76%
S&P 500 Down 5.89%
Nasdaq Down 8.41%
RUT Down 11.48%
SOX Down 16.30%
Here are few stock snapshot to further ponder :
GOOG Down 13.93%
AMD Down 13.93%
AMZN Down 13.97%
NVDA Down 21.72%
FB Down 29.54%
This week AMD Reporting on Wednesday
AMZN reporting on Thursday
GOOG reporting on Thursday
IF the reaction to good earnings report is going to be the same then all 3 stocks are going to enter " bear market "
NVDA & FB have entered " bear market " territory already.......
Nasdaq is below 200 DMA.....
SOX has entered " bearish cross "
DOW & S&P 500 are above 200 DMA.....but below 50 DMA
I have given enough statistics for all traders and investors to exercise " caution " in near term and watch reaction to earnings closely.
My conclusion is, that " trend is NOT your friend "
Good luck with your own analysis and your comfort level.
BLOG does NOT give buy or sell.
Saleem
Leading averages are showing disturbing divergence, which may not bode well for this TAPE...
Here are snapshot of key indices :
DOW Down 5.76%
S&P 500 Down 5.89%
Nasdaq Down 8.41%
RUT Down 11.48%
SOX Down 16.30%
Here are few stock snapshot to further ponder :
GOOG Down 13.93%
AMD Down 13.93%
AMZN Down 13.97%
NVDA Down 21.72%
FB Down 29.54%
This week AMD Reporting on Wednesday
AMZN reporting on Thursday
GOOG reporting on Thursday
IF the reaction to good earnings report is going to be the same then all 3 stocks are going to enter " bear market "
NVDA & FB have entered " bear market " territory already.......
Nasdaq is below 200 DMA.....
SOX has entered " bearish cross "
DOW & S&P 500 are above 200 DMA.....but below 50 DMA
I have given enough statistics for all traders and investors to exercise " caution " in near term and watch reaction to earnings closely.
My conclusion is, that " trend is NOT your friend "
Good luck with your own analysis and your comfort level.
BLOG does NOT give buy or sell.
Saleem
Friday, October 19, 2018
Indices closed Mixed.....
Indices closed mixed while Nasdaq was the weakest.
S&P 500 @ 2767.78, low 2760.27, high 2797.77
RSI @ 35.93
CMF @ -0.230
Internals were :
Down volume led by .83 to 1 in NYSE & 2.14 to 1 in Nasdaq
Declining stocks led by 1.05 to 1 in NYSE & 2.25 to 1 in Nasdaq
Net new 52 wk lows were leading by 295 in NYSE & 210 in Nasdaq
VIX Down .85% @ 19.
Oil @ $69.12
Gold @ $1228.70
Canadian $ @ .6894
Stocks which closed green included AAPL GE HUYA
PRNB AMAT BABA GOOG BZUN CHK TK GS
MS TRIP FNSR MCD MSFT V CNX....
In my portfolio Sold HEXO.TO @ $7.70
Portfolio AMD ESTC FB
Next post by 6 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2767.78, low 2760.27, high 2797.77
RSI @ 35.93
CMF @ -0.230
Internals were :
Down volume led by .83 to 1 in NYSE & 2.14 to 1 in Nasdaq
Declining stocks led by 1.05 to 1 in NYSE & 2.25 to 1 in Nasdaq
Net new 52 wk lows were leading by 295 in NYSE & 210 in Nasdaq
VIX Down .85% @ 19.
Oil @ $69.12
Gold @ $1228.70
Canadian $ @ .6894
Stocks which closed green included AAPL GE HUYA
PRNB AMAT BABA GOOG BZUN CHK TK GS
MS TRIP FNSR MCD MSFT V CNX....
In my portfolio Sold HEXO.TO @ $7.70
Portfolio AMD ESTC FB
Next post by 6 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
Thursday, October 18, 2018
Indices closed down 1.27% to 2.06%......
Indices closed down.
S&P 500 @ 2768.78, low 2755.18, high 2806.04
RSI @ 36.06
CMF @ -0.243
Internals were :
Down volume led by 4.27 to 1 in NYSE & 2.56 to 1 in Nasdaq
Declining stocks led by 3.49 to 1 in NYSE & 3.26 to 1 in Nasdaq
Net new 52 wk lows were leading by 322 in NYSE & 134 in Nasdaq
VIX UP 15.29% @ 20.06
Oil @ $68.65
Gold @ $1230.10
AH news....PYPL UP 7.64%, LLNW Down 9.45%
AH Futures UP
AH Asian Markets Down
AH Oil UP
AH Gold Down
About market, TAPE was weak again but did not close @ low of the day, S&P 500 closed above 50 DMA after testing support and making higher lows, a good support point technically speaking. Lot was thrown @ this market Chinese economic weakness, Higher US interest rates, Italian issues with EU and Saudi Arabia reaction to Jamal Kashoggi, considering all that we may be OK for now market wise. There is only a closing BLOG on Friday's around 7 PM.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2768.78, low 2755.18, high 2806.04
RSI @ 36.06
CMF @ -0.243
Internals were :
Down volume led by 4.27 to 1 in NYSE & 2.56 to 1 in Nasdaq
Declining stocks led by 3.49 to 1 in NYSE & 3.26 to 1 in Nasdaq
Net new 52 wk lows were leading by 322 in NYSE & 134 in Nasdaq
VIX UP 15.29% @ 20.06
Oil @ $68.65
Gold @ $1230.10
AH news....PYPL UP 7.64%, LLNW Down 9.45%
AH Futures UP
AH Asian Markets Down
AH Oil UP
AH Gold Down
About market, TAPE was weak again but did not close @ low of the day, S&P 500 closed above 50 DMA after testing support and making higher lows, a good support point technically speaking. Lot was thrown @ this market Chinese economic weakness, Higher US interest rates, Italian issues with EU and Saudi Arabia reaction to Jamal Kashoggi, considering all that we may be OK for now market wise. There is only a closing BLOG on Friday's around 7 PM.
BLOG does NOT give buy or sell.
Saleem
Indices down 1.73% to 2.37%.....
Chinese economic slowdown is adding to interest rate fears, indices are @ low of the day. S&P 500 below 200 DMA.
S&P 500 @ 2759.78, low 2755.18, high 2806.04
Internals are negative by as much as 5 to 1
Oil Down $1.15
Gold UP $3.10
Canadian $ Down 64 tick @ .6920
VIX UP 20.57% @ 20.98
Portfolio AMD ESTC FB HEXO.TO
Most stocks are down
@ 2.03 following are green :
GE ACBFF TLRY CIEN CSIQ YY TK LNG
SPWR ABX AEM GG M .....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2759.78, low 2755.18, high 2806.04
Internals are negative by as much as 5 to 1
Oil Down $1.15
Gold UP $3.10
Canadian $ Down 64 tick @ .6920
VIX UP 20.57% @ 20.98
Portfolio AMD ESTC FB HEXO.TO
Most stocks are down
@ 2.03 following are green :
GE ACBFF TLRY CIEN CSIQ YY TK LNG
SPWR ABX AEM GG M .....
BLOG does NOT give buy or sell.
Saleem
Wednesday, October 17, 2018
Indices closed down .04% to .36%.......
Indices closed down.
S&P 500 @ 2809.21, low 2781.81, high 2816.94
RSI @ 41.56
CMF @ -0.201
Internals were :
Down volume led by 1.24 to 1 in NYSE & .89 to 1 in Nasdaq
Declining stocks led by 1.71 to 1 in NYSE & 1.39 to 1 in Nasdaq
Net new 52 wk lows were leading by 148 in NYSE & 80 in Nasdaq
VIX Down 1.25% @ 17.40
Oil @ $69.75
Gold @ $1227.40
AH Futures Down
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE was under mild selling due to Fed minutes which was very hawkish. When Fed is that clear on its future interest rate policies, it is never good for equities. In a way I am a bit surprised that we did not close @ low of the day and were not down more than .36%, that gives me hope for Thursday's close, which may be positive.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2809.21, low 2781.81, high 2816.94
RSI @ 41.56
CMF @ -0.201
Internals were :
Down volume led by 1.24 to 1 in NYSE & .89 to 1 in Nasdaq
Declining stocks led by 1.71 to 1 in NYSE & 1.39 to 1 in Nasdaq
Net new 52 wk lows were leading by 148 in NYSE & 80 in Nasdaq
VIX Down 1.25% @ 17.40
Oil @ $69.75
Gold @ $1227.40
AH Futures Down
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE was under mild selling due to Fed minutes which was very hawkish. When Fed is that clear on its future interest rate policies, it is never good for equities. In a way I am a bit surprised that we did not close @ low of the day and were not down more than .36%, that gives me hope for Thursday's close, which may be positive.
BLOG does NOT give buy or sell.
Saleem
Indices mixed.....
Indices mixed which is a good technical indicator, DOW erased 350 points loss for the most part only down 11.
S&P 500 @ 2812.52, high 2816.94, low 2781.81
Internals are mixed with Nasdaq positive volume in the lead.
Oil Down $1.93
Gold Down $4.10
Canadian $ Down 66 tick @ .7001
Portfolio AMD ESTC FB HEXO.TO
Most stocks are down
@ 1.52 following are UP :
ESTC GE VICR AMAT CRUS CTRP LRCX NFLX
WYNN GS FNSR MS MCD AAL.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2812.52, high 2816.94, low 2781.81
Internals are mixed with Nasdaq positive volume in the lead.
Oil Down $1.93
Gold Down $4.10
Canadian $ Down 66 tick @ .7001
Portfolio AMD ESTC FB HEXO.TO
Most stocks are down
@ 1.52 following are UP :
ESTC GE VICR AMAT CRUS CTRP LRCX NFLX
WYNN GS FNSR MS MCD AAL.....
BLOG does NOT give buy or sell.
Saleem
Tuesday, October 16, 2018
Indices closed UP 2.15% to 2.89%....NICE !!!!
Indices closed UP.
S&P 500 @ 2809.92, high 2813.45, low 2766.91
RSI @ 41.67
CMF @ -0.230
Internals were :
UP volume led by 5.51 to 1 in NYSE & 5.58 to 1 in Nasdaq
Advancing stocks led by 5.17 to 1 in NYSE & 4.02 to 1 in Nasdaq
Net new 52 wk lows were leading by 103 in NYSE & 69 in Nasdaq
VIX Down 17.28% @ 17.62
Oil @ $71.92
Gold @ $1231.00
Stocks which were UP 3% or more included AMD ESTC FB
NVDA SPLK SQ MTCH VICR FSLR HUYA BZUN EAF
AMAT AMZN CRUS BABA CIEN CSIQ NFLX OLED
QRVO SHOP TSLA TWTR WB NTNX ROKU CHK
FEYE YELP GS TRIP FNSR MA MS MSFT TSM
NKE KBH V AAL.....
AH news...VICR UP 21.58%, NFLX UP 10.88%
LRCX UP 7.04%, IBM Down 4.71%
AH Futures Mixed
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE was in bullish overdrive as market has discounted many things to a large extent. Internals were extremely powerful with better than 5 to 1 positive action. We may catch some breath tomorrow which must not be taken negatively. Earnings tonight are also strong from NFLX and LRCX which is a leading indicator for semiconductor industry.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2809.92, high 2813.45, low 2766.91
RSI @ 41.67
CMF @ -0.230
Internals were :
UP volume led by 5.51 to 1 in NYSE & 5.58 to 1 in Nasdaq
Advancing stocks led by 5.17 to 1 in NYSE & 4.02 to 1 in Nasdaq
Net new 52 wk lows were leading by 103 in NYSE & 69 in Nasdaq
VIX Down 17.28% @ 17.62
Oil @ $71.92
Gold @ $1231.00
Stocks which were UP 3% or more included AMD ESTC FB
NVDA SPLK SQ MTCH VICR FSLR HUYA BZUN EAF
AMAT AMZN CRUS BABA CIEN CSIQ NFLX OLED
QRVO SHOP TSLA TWTR WB NTNX ROKU CHK
FEYE YELP GS TRIP FNSR MA MS MSFT TSM
NKE KBH V AAL.....
AH news...VICR UP 21.58%, NFLX UP 10.88%
LRCX UP 7.04%, IBM Down 4.71%
AH Futures Mixed
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE was in bullish overdrive as market has discounted many things to a large extent. Internals were extremely powerful with better than 5 to 1 positive action. We may catch some breath tomorrow which must not be taken negatively. Earnings tonight are also strong from NFLX and LRCX which is a leading indicator for semiconductor industry.
BLOG does NOT give buy or sell.
Saleem
Indices UP 1.83% to 2.46%....NICE !!!!
Indices are sharply higher of earnings from Banks. S&P 500 is above 200 DMA and @ high of the day.
S&P 500 @ 2801.65, high 2801.76, low 2766.91
Internals are positive by as much as almost 6 to 1
Oil UP 31 cents
Gold UP 40 cents
Canadian $ UP 67 tick @ .7077
VIX Down 15.54% @ 17.99
In my portfolio :
Added 70% ESTC @ $61.55
Added 30% HEXO.TO @ $8.43
Portfolio AMD ESTC FB HEXO.TO
Most stocks are UP
@ 1.55 PM following are red :
HEXO.TO ACBFF CRON CGC TLRY IQ BILI
CTRP MOMO PANW RIG SU AEM GG
CMG X PANW.......
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2801.65, high 2801.76, low 2766.91
Internals are positive by as much as almost 6 to 1
Oil UP 31 cents
Gold UP 40 cents
Canadian $ UP 67 tick @ .7077
VIX Down 15.54% @ 17.99
In my portfolio :
Added 70% ESTC @ $61.55
Added 30% HEXO.TO @ $8.43
Portfolio AMD ESTC FB HEXO.TO
Most stocks are UP
@ 1.55 PM following are red :
HEXO.TO ACBFF CRON CGC TLRY IQ BILI
CTRP MOMO PANW RIG SU AEM GG
CMG X PANW.......
BLOG does NOT give buy or sell.
Saleem
Monday, October 15, 2018
Indices closed Down .35% to .88%......
Indices closed down.
S&P 500 @ 2750.79, low 2749.03, high 2775.99
RSI @ 27.71
CMF @ -0.254
Internals were :
UP volume led by 1.36 to 1 in NYSE & .93 to 1 in Nasdaq
Advancing stocks led by 1.38 to 1 in NYSE & 1.15 to 1 in Nasdaq
Net new 52 wk lows were leading by 249 in NYSE & 133 in Nasdaq
VIX Down -0.05% @ 21.30
Oil @ $71.78
Gold @ $1230.30
Stocks which were UP 1% or more included HEXO.TO
FSLR ACBFF CRON CGC TLRY BILI CIEN CSIQ
JKS OLED TWTR ROKU ALDR CHK TK FEYE
WB SPWR FNSR MGA OSTK ABX AEM
ULTA AAL CNX......
AH news... ADBE UP 5.88%, PS UP 4.71%
TWLO Down 3.47%, FNSR Down 4.69%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE followed a typical bearish pattern UP triple digits and closed @ low of the day, Internals were weak again. Any bounce is a good chance to sell IF there is profit. There is a positive development on Saudi news front, they are willing to confess killing Jamal Kashoggi in their consulate in Istanbul, this should eliminate one major source of world irritant.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2750.79, low 2749.03, high 2775.99
RSI @ 27.71
CMF @ -0.254
Internals were :
UP volume led by 1.36 to 1 in NYSE & .93 to 1 in Nasdaq
Advancing stocks led by 1.38 to 1 in NYSE & 1.15 to 1 in Nasdaq
Net new 52 wk lows were leading by 249 in NYSE & 133 in Nasdaq
VIX Down -0.05% @ 21.30
Oil @ $71.78
Gold @ $1230.30
Stocks which were UP 1% or more included HEXO.TO
FSLR ACBFF CRON CGC TLRY BILI CIEN CSIQ
JKS OLED TWTR ROKU ALDR CHK TK FEYE
WB SPWR FNSR MGA OSTK ABX AEM
ULTA AAL CNX......
AH news... ADBE UP 5.88%, PS UP 4.71%
TWLO Down 3.47%, FNSR Down 4.69%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE followed a typical bearish pattern UP triple digits and closed @ low of the day, Internals were weak again. Any bounce is a good chance to sell IF there is profit. There is a positive development on Saudi news front, they are willing to confess killing Jamal Kashoggi in their consulate in Istanbul, this should eliminate one major source of world irritant.
BLOG does NOT give buy or sell.
Saleem
Indices mixed.....
Indices are mixed as Saudi issue is contained for now.
S&P 500 @ 2770.45, high 2773.74, low 2749.03
Internals are positive.
Oil UP 10 cents
Gold UP $10.40
Canadian $ UP 29 tick @ .7008
VIX Down 5.21% @ 20.20
Portfolio AMD ESTC FB HEXO.TO
Most stocks are UP
@ 2.00 PM following are red :
ESTC AAPL KORS NVDA SPLK HUYA AMZN
BABA BIDU CTRP EAF NFLX PANW YY
NTNX MA MSFT TSM V X......
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2770.45, high 2773.74, low 2749.03
Internals are positive.
Oil UP 10 cents
Gold UP $10.40
Canadian $ UP 29 tick @ .7008
VIX Down 5.21% @ 20.20
Portfolio AMD ESTC FB HEXO.TO
Most stocks are UP
@ 2.00 PM following are red :
ESTC AAPL KORS NVDA SPLK HUYA AMZN
BABA BIDU CTRP EAF NFLX PANW YY
NTNX MA MSFT TSM V X......
BLOG does NOT give buy or sell.
Saleem
Sunday, October 14, 2018
Deeply oversold bounce ?
On Friday market staged a deeply oversold bounce.Since May / June this was the-worst slump market has seen from series of all time highs to well below 200 DMA slump.
Reasons are many but one reason may be troubling this TAPE more than others.
Before we analyze all the reasons, we must look @ current RSI :
Russell 2000 17.98
S&P 500 29.52
SOX 30.27
Nasdaq 32.44
DOW 34.31
Please keep in mind that the above RSI numbers are after Friday's close, they were much lower @ Thursday's low & close.
Russell or RUT is lagging badly, before we use to look @ RUT as a leading indicator, IF that theory still holds, then we are looking @ more bad news in TAPE.
DOW has and remained a touch stronger than any other index, before it was the strongest now barely above Nasdaq in performance.
SO...what is keeping this market in negative slant, reasons are too many, Trade dispute with China could be number 1 in terms of Sales and Profit scenario of many companies as Chinese economy is slowing down, this will impact markets worldwide.
Despite China trade tiff, Indices held up well and kept making new all time highs.....
IF China US trade issue was not enough, we are dealing with a Fed who is all set to combat rising inflation in economy and wages with higher interest rates, not a very desirable picture for investors.
It has been said and repeated often by pundits " do NOT fight the fed "
SO.....higher interest rate trend is the current culprit of market violating all the technical levels.
SO... we went tumbling down not only 50 DMA but 200 DMA also in all indices & more.....
Technical breakdown cannot be taken lightly, it IS a clear message that something is not going well for markets and TAPE.
SO all we have a a deeply oversold bounce....nothing more.....
NOW every day we have to pay attention to US statistics about higher growth and higher inflation and market may react quickly on the downside anticipating Fed tightening......
Also we have to pay attention to what kind of "oversold bounce we are getting, ....last Friday was NOT very convincing, internals were negative in key areas and positive was very weak.
Only way we can deal with this kind of uncertain TAPE is have reduced exposure and pay attention to quality of stocks in your portfolio.
When we have " technical breakdown " like this, it takes a while to repair technical damage.
Good luck with your own understanding of this TAPE and your comfort level.
BLOG does NOT give buy or sell.
Saleem
Reasons are many but one reason may be troubling this TAPE more than others.
Before we analyze all the reasons, we must look @ current RSI :
Russell 2000 17.98
S&P 500 29.52
SOX 30.27
Nasdaq 32.44
DOW 34.31
Please keep in mind that the above RSI numbers are after Friday's close, they were much lower @ Thursday's low & close.
Russell or RUT is lagging badly, before we use to look @ RUT as a leading indicator, IF that theory still holds, then we are looking @ more bad news in TAPE.
DOW has and remained a touch stronger than any other index, before it was the strongest now barely above Nasdaq in performance.
SO...what is keeping this market in negative slant, reasons are too many, Trade dispute with China could be number 1 in terms of Sales and Profit scenario of many companies as Chinese economy is slowing down, this will impact markets worldwide.
Despite China trade tiff, Indices held up well and kept making new all time highs.....
IF China US trade issue was not enough, we are dealing with a Fed who is all set to combat rising inflation in economy and wages with higher interest rates, not a very desirable picture for investors.
It has been said and repeated often by pundits " do NOT fight the fed "
SO.....higher interest rate trend is the current culprit of market violating all the technical levels.
SO... we went tumbling down not only 50 DMA but 200 DMA also in all indices & more.....
Technical breakdown cannot be taken lightly, it IS a clear message that something is not going well for markets and TAPE.
SO all we have a a deeply oversold bounce....nothing more.....
NOW every day we have to pay attention to US statistics about higher growth and higher inflation and market may react quickly on the downside anticipating Fed tightening......
Also we have to pay attention to what kind of "oversold bounce we are getting, ....last Friday was NOT very convincing, internals were negative in key areas and positive was very weak.
Only way we can deal with this kind of uncertain TAPE is have reduced exposure and pay attention to quality of stocks in your portfolio.
When we have " technical breakdown " like this, it takes a while to repair technical damage.
Good luck with your own understanding of this TAPE and your comfort level.
BLOG does NOT give buy or sell.
Saleem
Friday, October 12, 2018
Indices closed UP 1.15% to 2.29%....NICE !!!!
Indices closed UP after zig zag whole day, @ best it was a weak close. Internals were mostly weak.
S&P 500 @ 2767.10, high 2775.77, low 2729.44
RSI @ 29.51
CMF @ -0.247
Internals were :
UP volume led by 1.77 to 1 in NYSE & 2.99 to 1 in Nasdaq
Advancing stocks led by 1.37 to 1 in NYSE & 1.51 to 1 in Nasdaq
Net new 52 wk lows were leading by 515 in NYSE & 248 in Nasdaq
VIX Down 14.69% @ 21.31
Oil @ $71.34
Gold @ $1222.00
Canadian $ @ .6972
Stocks which were UP 2%+ included AMD ESTC HEXO.TO
AAPL KORS NVDA SPLK SQ MTCH CGC TLRY RHT HUYA
BZUN IQ AMAT AMZN BABA BIDU BILI CIEN CTRP EAF
LRCX MOMO NFLX PANW SHOP WB YY ROKU RIG
FEYE YELP MLNX MA SINA OSTK MSFT ULTA
SWKS V M ......
Here is my portfolio weighting :
FB 42.32%
AMD 36.25%
ESTC 12.08%
HEXO.TO 9.35%
Next post by 6 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2767.10, high 2775.77, low 2729.44
RSI @ 29.51
CMF @ -0.247
Internals were :
UP volume led by 1.77 to 1 in NYSE & 2.99 to 1 in Nasdaq
Advancing stocks led by 1.37 to 1 in NYSE & 1.51 to 1 in Nasdaq
Net new 52 wk lows were leading by 515 in NYSE & 248 in Nasdaq
VIX Down 14.69% @ 21.31
Oil @ $71.34
Gold @ $1222.00
Canadian $ @ .6972
Stocks which were UP 2%+ included AMD ESTC HEXO.TO
AAPL KORS NVDA SPLK SQ MTCH CGC TLRY RHT HUYA
BZUN IQ AMAT AMZN BABA BIDU BILI CIEN CTRP EAF
LRCX MOMO NFLX PANW SHOP WB YY ROKU RIG
FEYE YELP MLNX MA SINA OSTK MSFT ULTA
SWKS V M ......
Here is my portfolio weighting :
FB 42.32%
AMD 36.25%
ESTC 12.08%
HEXO.TO 9.35%
Next post by 6 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
Thursday, October 11, 2018
Indices closed down 1.25% to 2.13%.....
Indices closed down.
S&P 500 @ 2728.37, low 2710.51, high 2795.14
RSI @ 17.66
CMF @ -0.268
Internals were :
Down volume led by 4.92 to 1 in NYSE & 1.71 to 1 in Nasdaq
Declining stocks led by 3.53 to 1 in NYSE & 2.66 to 1 in Nasdaq
Net new 52 wk lows were leading by 718 in NYSE & 387 in Nasdaq
VIX UP 8.80% @ 24.98
Oil @ $70.97
Gold @ $1227.60
AH Futures UP
AH Asian Markets Down
AH Oil UP
AH Gold Down
About market, TAPE continued its slump despite 10 year rates were actually lower. Chinese economic weakness was a key factor in this selling as orders were softer. There is talk of China and US having a dialogue @ next summit which may result in trade talks.RSI has taken an extreme reading Nasdaq @ 18.97, DOW @ 26.49 and S&P 500 @ lowest @ 17.66, Nasdaq & S&P 500 is deep deep oversold numbers. There is only a closing BLOG on Friday's around 7 PM.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2728.37, low 2710.51, high 2795.14
RSI @ 17.66
CMF @ -0.268
Internals were :
Down volume led by 4.92 to 1 in NYSE & 1.71 to 1 in Nasdaq
Declining stocks led by 3.53 to 1 in NYSE & 2.66 to 1 in Nasdaq
Net new 52 wk lows were leading by 718 in NYSE & 387 in Nasdaq
VIX UP 8.80% @ 24.98
Oil @ $70.97
Gold @ $1227.60
AH Futures UP
AH Asian Markets Down
AH Oil UP
AH Gold Down
About market, TAPE continued its slump despite 10 year rates were actually lower. Chinese economic weakness was a key factor in this selling as orders were softer. There is talk of China and US having a dialogue @ next summit which may result in trade talks.RSI has taken an extreme reading Nasdaq @ 18.97, DOW @ 26.49 and S&P 500 @ lowest @ 17.66, Nasdaq & S&P 500 is deep deep oversold numbers. There is only a closing BLOG on Friday's around 7 PM.
BLOG does NOT give buy or sell.
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