SOX is showing leadership in being the first sector to close above 50 DMA, a very good sign, in good old days, it was said, as Semis GO, So Goes the Stock market.....
Let us peek through RSI and see what it is telling us :
RUT 57.79
SOX 57.44
Nasdaq 54.98
S&P 500 53.52
DOW 52.72
As you can clearly see that RUT & SOX are the leaders.......
SOX above 50 DMA and RUT is ready to jump above
Nasdaq also ready to jump above 50 DMA
S&P 500 also ready to jump above 50 DMA
DOW is the laggard, in last rally DOW was the leader
With SOX, RUT & Nasdaq showing strength, what is not to like about this TAPE..
IF you look @ charts of many stocks, there are clear cut leaders and some are taking rest to jump ahead.....
Rotation is taking place on a daily basis, perfect environment to be a day trader or swing trader, those terms were out of our analysis for a long time...
Please look in SOX area to find leaders
Cloud also behaving well.
SO...it is the technology stocks all over again......
Please do your own due diligence and ensure your comfort level.
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hi Saleem,
Last week: +2.00% (YTD: -0.69%)
Notable Winners: VICR ACIA TRIL TENB FSLR
Notable Losers: ORTX VCEL LQDA TZA
I was playing catchup all week as I started the week with very little exposure. In the end, I did ok, but I still am lagging the indices by a good amount (S&P +3.57% this year).
It seems this whole decline and rally is due to the Fed situation as the price action seems to depend only on them. If that is true, the bottom we put in should more than hold and we could avoid a retest if earnings hold up. I'll continue to try and position correctly even though I was wrong to start the year which makes me question myself more than usual. Any trade or shutdown selloffs should be buying opportunities.
Holdings: TNA FSLR VICR TDOC ACIA TENB SAIL HRTX VCEL ORTX TRIL, cash 0.0%
Stocktrader
Hi Stocktrader,
Being wrong for 1 week is not a reason to doubt your excellent analytical skills and performance for 3 years in a row...you beat averages by more than 10 miles all 3 years...
Now focus your energy on your research which is par excellence!
Last week was another great week for me UP 28.18%
YTD UP 50.74%....
All due to full margin and quick trades in AMD, BIDU & ESTC......
Saleem
Hi Saleem,
Those numbers are mind-boggling! Congrats on an amazing job in such a short time!! :)
Stocktrader
Hi Stocktrader,
Thanks for your feedback.
Biggest reason besides full margin is my high weighting almost 50% in key high comfort stocks
currently that number is with NVDA which I gave in my weighting......
Saleem
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