Market is all set to make series of new highs, it may start this week.
Stars are aligned....
VIX to hit new low...also this week
Here is a look @ my reliable RSI.....
SOX 69.60
S&P 500 69.39
Nasdaq 69.14
DOW 63.36
RUT 59.77
Based on the above numbers none of the above numbers are in 70 area, means we are not overbought. This time we may hit high 70 before any pullback.
SOX is making series of all time highs
S&P 500 may be 2 trading days to make it into all time highs
DOW may take 2 UP days to make it into all time highs
Nasdaq may need 3 to 4 days to make into all time highs.
Russell 2000 is the laggard here may take up to 4 weeks
VIX @ 12.01 ...52 wk low is 10.17.....which may be taken out end of this week.
Of all the stocks FB is looking very good to make a new all time high as soon as this week.
GOOG may try to move closer to its all time high
AMZN may also come closer in a breakout in indices.
There is an eerie silence on Wall & Broad, it may have an upside explosion and the herd will take over.
SO...based on the above optimistic scenario, it is wise to be exposed to this TAPE in a bullish way.
Technology, Semiconductor stocks must be overweight in your portfolio.
Once we get going on the bullish mode, train will leave the station in a hurry.
Good luck with your own analysis and comfort level.
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hi Saleem,
Last week: +2.98% (YTD: 10.54%)
Notable Winners: ALEC SMAR SPLK SWKS ORTX LITE PLAN
Notable Losers: LQDA
It was a great week across almost all my stocks, helping me outperform the indices significantly, a refreshing change for this year honestly. I feel like I'm in a better mindset as far as selecting winners and rotating into the next strength. I look forward to earnings season to indicate the next three months worth of stocks that will work well.
Holdings: SWKS LITE SPLK TWTR ALEC RUN PANW MHO PLAN ORTX SMAR LQDA TRIL, cash 6.7%
Stocktrader
Hi Stocktrader,
Last week Down 1.09%
YTD UP 88.06%
Saleem
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