SOX made a new and closing all time high, this bodes very well for market as a whole.
Here is a look @ RSI for internal look @ market strength :
Nasdaq 70.45
S&P 500 69.79
SOX 69.32
DOW 66.82
TAN 63.59
RUT 61.81
XLE 61.32
GLD 43.94
Only Nasdaq is above 70 which defines overbought, while all others are below 70 which leaves room for further upside action.
Rotation is going on which is also healthy for market.
FANG is looking ready to make its move with AMZN in the lead followed by other widely followed stocks.
It is nice to see that quality of leadership is very good in this run.
SOX and semiconductors leading the way is very good for overall market as SOX is considered to be leader in any uptrend, market generally follows SOX.
It is important to overweight SOX in your portfolio to take advantage of this uptrend.
Nasdaq leading all indices in money flow and being bought is a very good trendline.
I expect this week to add other index to new all time high list.
SO take a look @ your portfolio and see IF you are overweight in Nasdaq and particularly in SOX.
Good luck with your own analysis and comfort level.
BLOG does NOT give buy or sell.
Saleem
4 comments:
Hi Saleem,
Last week: +3.35% (YTD: +7.34%)
Notable Winners: RUN ORTX TWTR IBP SWKS
Notable Losers: LQDA SAIL PANW
The bull market run continued and most of the portfolio names outperformed the market helping to boost my returns for the week. I am finally back from vacation, and my eyes on fixed on good charts and names I'm comfortable with into first quarter earnings.
Holdings: ORTX SWKS LITE IBP TWTR SPLK RUN PANW MHO SAIL TENB LQDA TRIL, cash 0.0%
Stocktrader
Hi Stocktrader,
Welcome back!
Last week UP 5.11%
YTD UP 89.15%
Saleem
Hi Saleem,
Did a swap ahead of earnings:
Sold TENB @ 32.30
Bought SMAR @ 38.29
I think SMAR has more upside this earnings, is bouncing right off support, and TENB is susceptible to a secondary offering.
Stocktrader
Hi Stocktrader,
Good luck with SMAR....
Saleem
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