Indices closed down near low of the day on a new trade dispute, US vs Mexico where US is threatening to slap 5% import duty on all good imported from Mexico by June 10th. This caught market by surprise, thus a negative reaction.
S&P 500 @ 2752.06, low 2750.52, high 2768.98
RSI @ 30.84
CMF @ -0.019
Internals were :
Down volume led by 2.67 to 1 in NYSE & 2.56 to 1 in Nasdaq
Declining stocks led by 2.22 to 1 in NYSE & 2.87 to 1 in Nasdaq
Net new 52 wk lows were leading by 144 in NYSE & 167 in Nasdaq
VIX UP 8.15% @ 18.71
Oil @ $53.50
Gold @ $1311.00
Canadian $ @ .6472
Stocks which closed green included LULU SWN AEM JKS
MRVL LNG MCD ULTA TSM CNX.....
Here is my portfolio weighting :
SQ 31.40%
TSLA 31.20%
ESTC 20.80%
BZUN 16.60%
Next post by 6 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
Friday, May 31, 2019
Thursday, May 30, 2019
Indices closed UP .17% to .27%....NICE !!!!
Indices closed UP.
S&P 500 @ 2788.86, high 2799.00, low 2776.74
RSI @ 35.88
CMF @ 0.031
Internals were :
Down volume led by 1.19 to 1 in NYSE & .80 to 1 in Nasdaq
Declining stocks led .86 to 1 in NYSE & 1.03 to 1 in Nasdaq
Net new 52 wk lows were leading by 40 in NYSE & 82 in Nasdaq
VIX Down 3.35% @ 17.30
Oil @ $56.59
Gold @ $1292.40
Stocks which were UP 1% or more included BZUN ESTC
HUYA LULU IQ SHOP FEYE ROKU FSLR CIEN JKS
CSIQ YY ALDR YELP SINA MCD ULTA CMG....
AH news...NTNX Down 17.97%, GPS Down 13.3%
WSM UP 12.23%, OKTA UP 6.1%
AH Futures Down
AH Asian Markets Down
AH Oil Down
AH Gold UP
About market, TAPE closed UP despite attempt to bring the market down. DOW remained below 200 DMA while S&P 500 and Nasdaq are above 200 DMA. Futures are slumping on two negative news after hours, first President Trump is imposing 5% duties on all imports from Mexico effective June 10, second China reported Factory orders shrank more than expected. I expect market to close above lows of the day. There is only a closing BLOG on Friday's around 7 PM.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2788.86, high 2799.00, low 2776.74
RSI @ 35.88
CMF @ 0.031
Internals were :
Down volume led by 1.19 to 1 in NYSE & .80 to 1 in Nasdaq
Declining stocks led .86 to 1 in NYSE & 1.03 to 1 in Nasdaq
Net new 52 wk lows were leading by 40 in NYSE & 82 in Nasdaq
VIX Down 3.35% @ 17.30
Oil @ $56.59
Gold @ $1292.40
Stocks which were UP 1% or more included BZUN ESTC
HUYA LULU IQ SHOP FEYE ROKU FSLR CIEN JKS
CSIQ YY ALDR YELP SINA MCD ULTA CMG....
AH news...NTNX Down 17.97%, GPS Down 13.3%
WSM UP 12.23%, OKTA UP 6.1%
AH Futures Down
AH Asian Markets Down
AH Oil Down
AH Gold UP
About market, TAPE closed UP despite attempt to bring the market down. DOW remained below 200 DMA while S&P 500 and Nasdaq are above 200 DMA. Futures are slumping on two negative news after hours, first President Trump is imposing 5% duties on all imports from Mexico effective June 10, second China reported Factory orders shrank more than expected. I expect market to close above lows of the day. There is only a closing BLOG on Friday's around 7 PM.
BLOG does NOT give buy or sell.
Saleem
Indices UP .01% to .04%....NICE !!!!
Indices are barely UP after being UP nicely @ open, may retest support again. Indices are near low of the day.
S&P 500 @ 2784.60, high 2799.00, low 2782.68
Internals are neutral
Oil Down $1.63
Gold UP $5.89
Canadian $ UP 18 tick @ .64.99
VIX Down 2.01% @ 17.54
Portfolio BZUN ESTC SQ TSLA
Most stocks are UP
@ 1.45 AM following are red :
TSLA FB MOMO AMZN BIDU NVDA WB
MTCH CRON TLRY BABA FFIV PANW
QRVO NTNX CHK RIG LNG WYNN
LVS GS OSTK SWKS KBH V X...
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2784.60, high 2799.00, low 2782.68
Internals are neutral
Oil Down $1.63
Gold UP $5.89
Canadian $ UP 18 tick @ .64.99
VIX Down 2.01% @ 17.54
Portfolio BZUN ESTC SQ TSLA
Most stocks are UP
@ 1.45 AM following are red :
TSLA FB MOMO AMZN BIDU NVDA WB
MTCH CRON TLRY BABA FFIV PANW
QRVO NTNX CHK RIG LNG WYNN
LVS GS OSTK SWKS KBH V X...
BLOG does NOT give buy or sell.
Saleem
Wednesday, May 29, 2019
Indices closed down .69% to .87%......
Indices closed down.....
S&P 500 @ 2783.02, low 2766.06, high 2792.03
RSI @ 34.30
CMF @ -0.027
Internals were :
Down volume led by 2.02 to 1 in NYSE & 1.42 to 1 in Nasdaq
Declining stocks led by 2.05 to 1 in NYSE & 2.23 to 1 in Nasdaq
Net new 52 wk lows were leading by 111 in NYSE & 158 to 1 in Nasdaq
VIX UP 2.29% @ 17.90
Oil @ $58.81
Gold @ $1281.00
AH news....BBBY UP 4.90%, VEEV UP 7.35%
PVH Down 11.44%, PANW Down 5.72%
AH Futures Down
AH Asian Markets Down
AH Oil UP
AH Gold Down
About market, TAPE followed a text book pattern where every major Indices or Index not only went below 50 DMA but below 200 DMA today also, DOW, S&P 500 & Nasdaq all closed above 200 DMA same day, a remarkable coincidence. We may retest 200 DMA BUT there is a strong chance that it will be a successful RETEST. Markets are deeply oversold and VIX giving every signal that equities are ready to bounce.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2783.02, low 2766.06, high 2792.03
RSI @ 34.30
CMF @ -0.027
Internals were :
Down volume led by 2.02 to 1 in NYSE & 1.42 to 1 in Nasdaq
Declining stocks led by 2.05 to 1 in NYSE & 2.23 to 1 in Nasdaq
Net new 52 wk lows were leading by 111 in NYSE & 158 to 1 in Nasdaq
VIX UP 2.29% @ 17.90
Oil @ $58.81
Gold @ $1281.00
AH news....BBBY UP 4.90%, VEEV UP 7.35%
PVH Down 11.44%, PANW Down 5.72%
AH Futures Down
AH Asian Markets Down
AH Oil UP
AH Gold Down
About market, TAPE followed a text book pattern where every major Indices or Index not only went below 50 DMA but below 200 DMA today also, DOW, S&P 500 & Nasdaq all closed above 200 DMA same day, a remarkable coincidence. We may retest 200 DMA BUT there is a strong chance that it will be a successful RETEST. Markets are deeply oversold and VIX giving every signal that equities are ready to bounce.
BLOG does NOT give buy or sell.
Saleem
Indices down .85% to 1.23%......
Indices are sharply lower again and breaking key technical support of 200 DMA by Nasdaq & S&P 500, currently they have crept above 200 DMA as we are deeply oversold.
S&P 500 @ 2783.73, low 2766.06, high 2792.03
Internals were negative by 3 to 1
Oil Down 92 cents
Gold UP $4.00
Canadian $ Down 26 tick @ .6484
VIX UP 2.63% @ 17.96...high today was 19.04
Portfolio BZUN ESTC SQ TSLA
Most stocks are down
@ 1.16 PM following are UP :
BZUN TSLA HUYA MU MOMO FEYE ROKU
AMAT CRUS CIEN EXPE MRVL OLED
PANW QRVO YY NTNX CHK LNG
WYNN LVS MA SINA SU SWKS...
BZUN reported a beat in Sales EPS for Q 1
Guiding Q 2 Sales higher than consensus,
Conference call was postponed to tomorrow
8 AM due to technical problem @ provider.
BZUN UP 2.58% in a down TAPE.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2783.73, low 2766.06, high 2792.03
Internals were negative by 3 to 1
Oil Down 92 cents
Gold UP $4.00
Canadian $ Down 26 tick @ .6484
VIX UP 2.63% @ 17.96...high today was 19.04
Portfolio BZUN ESTC SQ TSLA
Most stocks are down
@ 1.16 PM following are UP :
BZUN TSLA HUYA MU MOMO FEYE ROKU
AMAT CRUS CIEN EXPE MRVL OLED
PANW QRVO YY NTNX CHK LNG
WYNN LVS MA SINA SU SWKS...
BZUN reported a beat in Sales EPS for Q 1
Guiding Q 2 Sales higher than consensus,
Conference call was postponed to tomorrow
8 AM due to technical problem @ provider.
BZUN UP 2.58% in a down TAPE.
BLOG does NOT give buy or sell.
Saleem
Tuesday, May 28, 2019
Indices closed down .39% to .93%....
Indices closed down.
S&P 500 @ 2802.39, low 2801.58, high 2840.51
RSI @ 37.12
CMF @ 0.007
Internals were :
Down volume led by 3.11 to 1 in NYSE & 1.73 to 1 in Nasdaq
Declining stocks led by 1.92 to 1 in NYSE & 1.71 to 1 in Nasdaq
Net new 52 wk highs were leading by 52 in NYSE & lows by 51 in Nasdaq
VIX UP 10.41% @ 17.50
Oil @ $59.14
Gold @ $1277.10
AH news...UXIN UP 13.82%, YY UP 4.96%
WPRT Down 8.24%
AH Futures Down
AH Asian Markets Down
AH Oil Down
AH Gold UP
About market, TAPE started on a positive note but closed @ low of the day and internals became deeply negative.DOW is below 50 DMA & 200 DMA , first major index to do so, S&P 500 and Nasdaq are barely above 200 DMA, another down day and they may go under very quickly. Even US admitted that they are not ready to make a deal anytime soon with China, China accused US of repeatedly changing their position on any agreed items. Need to keep an eye on close although we are already deeply oversold and may find support around current levels.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2802.39, low 2801.58, high 2840.51
RSI @ 37.12
CMF @ 0.007
Internals were :
Down volume led by 3.11 to 1 in NYSE & 1.73 to 1 in Nasdaq
Declining stocks led by 1.92 to 1 in NYSE & 1.71 to 1 in Nasdaq
Net new 52 wk highs were leading by 52 in NYSE & lows by 51 in Nasdaq
VIX UP 10.41% @ 17.50
Oil @ $59.14
Gold @ $1277.10
AH news...UXIN UP 13.82%, YY UP 4.96%
WPRT Down 8.24%
AH Futures Down
AH Asian Markets Down
AH Oil Down
AH Gold UP
About market, TAPE started on a positive note but closed @ low of the day and internals became deeply negative.DOW is below 50 DMA & 200 DMA , first major index to do so, S&P 500 and Nasdaq are barely above 200 DMA, another down day and they may go under very quickly. Even US admitted that they are not ready to make a deal anytime soon with China, China accused US of repeatedly changing their position on any agreed items. Need to keep an eye on close although we are already deeply oversold and may find support around current levels.
BLOG does NOT give buy or sell.
Saleem
Indices mixed....
Indices are mixed after opening higher, Nasdaq is green as tech stocks are showing strength.Indices are @ low of the day.
S&P 500 @ 2823.84, low 2823.61, high 2840.51
Internals are negative.
Oil UP 74 cents
Gold Down $6.40
Canadian $ Down 41 tick @ .6520
VIX UP 4.10% @ 16.50
Portfolio BZUN ESTC SQ TSLA
Most stocks are down
@ 2.09 PM following are UP :
BZUN ESTC SQ AMD HUYA FB LULU IQ
SHOP MOMO AMZN MTCH SPLK CRON
CGC FSLR JKS NFLX SPWR MA MGA
SINA SU CMG V......
BZUN reporting before open on Wednesday,
here are the expectations :
Sales Q 1 $185 million EPS 12 cents
Guidance Q 2 sales $227.36, EPS 22 cents
Expecting a beat......
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2823.84, low 2823.61, high 2840.51
Internals are negative.
Oil UP 74 cents
Gold Down $6.40
Canadian $ Down 41 tick @ .6520
VIX UP 4.10% @ 16.50
Portfolio BZUN ESTC SQ TSLA
Most stocks are down
@ 2.09 PM following are UP :
BZUN ESTC SQ AMD HUYA FB LULU IQ
SHOP MOMO AMZN MTCH SPLK CRON
CGC FSLR JKS NFLX SPWR MA MGA
SINA SU CMG V......
BZUN reporting before open on Wednesday,
here are the expectations :
Sales Q 1 $185 million EPS 12 cents
Guidance Q 2 sales $227.36, EPS 22 cents
Expecting a beat......
BLOG does NOT give buy or sell.
Saleem
Monday, May 27, 2019
Market hovering around 200 DMA.......
Most Indices are near 200 DMA, all are below 50 DMA, not a vote of confidence in technical health of this market.
Here are the current status of key Indices :
SOX below 50 DMA & 200 DMA
RUT below 50 DMA and way below 200 DMA
DOW below 50 DMA and barely above 200 DMA
S&P 500 below 50 DMA & above 200 DMA
Nasdaq below 50 DMA & above 200 DMA
S&P 500 and Nasdaq can drop below 200 DMA in 1 day of selling
DOW is teetering above 200 DMA, can go below 200 DMA even on slight negative day.
Most of the old leaders are looking very sick and ready to tumble further IF we have a negative day, they include names like GOOG FB.......
I do not see any near term catalyst to prop up this market.
China & US trade picture is lousy @ best, both entrenched in their own strategy, thus market will suffer.
Trade agreement between China US impact more than two countries, it completely shifts production, sales strategies for near term.
HUAWEI is being singled out by US for their negotiation tactics, but China is more entrenched in their strategy of maintaining many status quo.
NOT a very optimistic or easy thing to deal with contrary to many tweets, statements to prop up this market.
Please keep an eye on how we close daily irrespective of how we open.
Good luck with your own understanding of this TAPE and your own comfort level.
BLOG does NOT give buy or sell.
Saleem
Here are the current status of key Indices :
SOX below 50 DMA & 200 DMA
RUT below 50 DMA and way below 200 DMA
DOW below 50 DMA and barely above 200 DMA
S&P 500 below 50 DMA & above 200 DMA
Nasdaq below 50 DMA & above 200 DMA
S&P 500 and Nasdaq can drop below 200 DMA in 1 day of selling
DOW is teetering above 200 DMA, can go below 200 DMA even on slight negative day.
Most of the old leaders are looking very sick and ready to tumble further IF we have a negative day, they include names like GOOG FB.......
I do not see any near term catalyst to prop up this market.
China & US trade picture is lousy @ best, both entrenched in their own strategy, thus market will suffer.
Trade agreement between China US impact more than two countries, it completely shifts production, sales strategies for near term.
HUAWEI is being singled out by US for their negotiation tactics, but China is more entrenched in their strategy of maintaining many status quo.
NOT a very optimistic or easy thing to deal with contrary to many tweets, statements to prop up this market.
Please keep an eye on how we close daily irrespective of how we open.
Good luck with your own understanding of this TAPE and your own comfort level.
BLOG does NOT give buy or sell.
Saleem
Friday, May 24, 2019
Indices closed UP .11% to .37%....NICE !!!!
Indices closed UP barely despite optimistic tone from white house about US China trade tension. Dow closed down for 5 weeks in a row.
S&P 500 @ 2826.06, high 2841.36, low 2820.19
RSI @ 40.93
CMF @ 0.052
Internals were :
UP volume led by 1.66 to 1 in NYSE & 1.34 to 1 in Nasdaq
Advancing stocks led by 2.14 to 1 in NYSE & 1.92 to 1 in Nasdaq
Net new 52 wk highs were leading by 75 in NYSE & lows by 50 in Nasdaq
Oil @ $58.63
Gold @ $1283.60
Canadian $ @ .6543
Stocks which were UP 1% or more included SQ
HUYA LULU SHOP ROKU PHM VICR JKS
CSIQ QRVO NTNX FNSR MGA OSTK SU
SWKS KBH CNX...
Here is my portfolio weighting :
SQ 32.30%
TSLA 31.70%
ESTC 20.70%
BZUN 15.30%
Next post by 6 PM on Monday as markets are closed for
memorial day.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2826.06, high 2841.36, low 2820.19
RSI @ 40.93
CMF @ 0.052
Internals were :
UP volume led by 1.66 to 1 in NYSE & 1.34 to 1 in Nasdaq
Advancing stocks led by 2.14 to 1 in NYSE & 1.92 to 1 in Nasdaq
Net new 52 wk highs were leading by 75 in NYSE & lows by 50 in Nasdaq
Oil @ $58.63
Gold @ $1283.60
Canadian $ @ .6543
Stocks which were UP 1% or more included SQ
HUYA LULU SHOP ROKU PHM VICR JKS
CSIQ QRVO NTNX FNSR MGA OSTK SU
SWKS KBH CNX...
Here is my portfolio weighting :
SQ 32.30%
TSLA 31.70%
ESTC 20.70%
BZUN 15.30%
Next post by 6 PM on Monday as markets are closed for
memorial day.
BLOG does NOT give buy or sell.
Saleem
Thursday, May 23, 2019
Indices closed down 1.11% to 1.58%.....
Indices closed down.
S&P 500 @ 2822.24, low 2805.49, high 2836.70
RSI @ 40.01
CMF @ 0.120
Internals were :
Down volume led by 3.68 to 1 in NYSE & 3.03 to 1 in Nasdaq
Declining stocks led by 3.26 to 1 in NYSE & 3.83 to 1 in Nasdaq
Net new 52 wk lows were leading by 85 in NYSE & 139 in Nasdaq
VIX UP 14.7% @ 16.92
Oil @ $57.91
Gold @ $1285.40
AH news...VSAT UP 10.33%, NVCR UP 5.46%
SPLK Down 2.70%, ADSK Down 8.58%
AH Futures UP
AH Asian Markets Down
AH Oil UP
AH Gold Down
About markets, TAPE was down from open to close, negativity has accelerated due to failure to strike a trade deal with China. Internals were negative all over. As this a long weekend, there was a tendency for risk off. Monday is memorial day, Friday is expected to be extremely low volume.There is only a closing BLOG on Friday's around 7 PM.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2822.24, low 2805.49, high 2836.70
RSI @ 40.01
CMF @ 0.120
Internals were :
Down volume led by 3.68 to 1 in NYSE & 3.03 to 1 in Nasdaq
Declining stocks led by 3.26 to 1 in NYSE & 3.83 to 1 in Nasdaq
Net new 52 wk lows were leading by 85 in NYSE & 139 in Nasdaq
VIX UP 14.7% @ 16.92
Oil @ $57.91
Gold @ $1285.40
AH news...VSAT UP 10.33%, NVCR UP 5.46%
SPLK Down 2.70%, ADSK Down 8.58%
AH Futures UP
AH Asian Markets Down
AH Oil UP
AH Gold Down
About markets, TAPE was down from open to close, negativity has accelerated due to failure to strike a trade deal with China. Internals were negative all over. As this a long weekend, there was a tendency for risk off. Monday is memorial day, Friday is expected to be extremely low volume.There is only a closing BLOG on Friday's around 7 PM.
BLOG does NOT give buy or sell.
Saleem
Indices down 1.52% to 1.90%.....
Indices are sharply lower on renewed concern on trade dispute between US & China, both accusing each other for reneging on prior understanding.Indices are near low of the day.
S&P 500 @ 2810.44, low 2806.94, high 2836.70
Internals are negative by as much as 4 to 1
Oil Down $3.69
Gold UP $10.00
Canadian $ Down 48 tick @ .6523
VIX UP 19.12% @ 17.57
Portfolio BZUN ESTC SQ TSLA
Most stocks are down
@ 2.10 PM following are green :
TSLA ROKU AEM KBH
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2810.44, low 2806.94, high 2836.70
Internals are negative by as much as 4 to 1
Oil Down $3.69
Gold UP $10.00
Canadian $ Down 48 tick @ .6523
VIX UP 19.12% @ 17.57
Portfolio BZUN ESTC SQ TSLA
Most stocks are down
@ 2.10 PM following are green :
TSLA ROKU AEM KBH
BLOG does NOT give buy or sell.
Saleem
Wednesday, May 22, 2019
Indices closed down .28% to .45%......
Indices closed down.
S&P 500 @ 2856.27, low 2851.11, high 2865.47
RSI @ 45.96
CMF @ 0.133
Internals were :
Down volume led by 2.16 to 1 in NYSE & 1.84 to 1 in Nasdaq
Declining stocks led by 1.71 to 1 in NYSE & 1.94 to 1 in Nasdaq
Net new 52 wk high were leading by 11 in NYSE & 57 in Nasdaq
VIX Down 1.34% @ 14.75
Oil @ $61.42
Gold @ $1274.20
AH news...NTAP Down 7.59%, AVP UP 16.62%
LB UP 13.72%, VIPS UP 6.46%
AH futures Down
AH Asian Markets Down
AH Oil & Gold Down
About market, TAPE was weak from start and closed lower near lows of the day. Even Fed minutes did not cheer up this market even though it showed no focus on raising rates anytime soon, maybe some were looking for hint of rate cut. Internals were weak. As we are heading into long weekend we may get sloppy action till Friday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2856.27, low 2851.11, high 2865.47
RSI @ 45.96
CMF @ 0.133
Internals were :
Down volume led by 2.16 to 1 in NYSE & 1.84 to 1 in Nasdaq
Declining stocks led by 1.71 to 1 in NYSE & 1.94 to 1 in Nasdaq
Net new 52 wk high were leading by 11 in NYSE & 57 in Nasdaq
VIX Down 1.34% @ 14.75
Oil @ $61.42
Gold @ $1274.20
AH news...NTAP Down 7.59%, AVP UP 16.62%
LB UP 13.72%, VIPS UP 6.46%
AH futures Down
AH Asian Markets Down
AH Oil & Gold Down
About market, TAPE was weak from start and closed lower near lows of the day. Even Fed minutes did not cheer up this market even though it showed no focus on raising rates anytime soon, maybe some were looking for hint of rate cut. Internals were weak. As we are heading into long weekend we may get sloppy action till Friday.
BLOG does NOT give buy or sell.
Saleem
Indices down .46% to .60%.....
Indices are lower on renewed uncertainty about US China trade stalemate, like all other trade disputes, this will be settled also BUT not immediately. Indices are @ low of the day.
S&P 500 @ 2851.71, low 2851.11, high 2865.47
Internals are negative by 2 to 1
Oil Down $1.93
Gold UP $1.40
Canadian $ Down 18 tick @ .6577
VIX UP 1.07% @ 15.11.....quite tame...good for equities ...may move UP
Portfolio BZUN ESTC SQ TSLA
Most stocks are down
@ 1.19 PM following are green :
SQ HUYA TWTR FB LRCX SHOP AMZN
ROKU CRON CGC TLRY CIEN GOOG
NFLX PANW TRIP MA ORCL MSFT
V......
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2851.71, low 2851.11, high 2865.47
Internals are negative by 2 to 1
Oil Down $1.93
Gold UP $1.40
Canadian $ Down 18 tick @ .6577
VIX UP 1.07% @ 15.11.....quite tame...good for equities ...may move UP
Portfolio BZUN ESTC SQ TSLA
Most stocks are down
@ 1.19 PM following are green :
SQ HUYA TWTR FB LRCX SHOP AMZN
ROKU CRON CGC TLRY CIEN GOOG
NFLX PANW TRIP MA ORCL MSFT
V......
BLOG does NOT give buy or sell.
Saleem
Tuesday, May 21, 2019
Indices closed UP .77% to 1.08%....NICE !!!!
Indices closed UP.
S&P 500 @ 2864.36, high 2868.88, low 2854.02
RSI @ 47.52
CMF @ 0.104
Internals were :
UP volume led by 4.90 to 1 in NYSE & 3.39 to 1 in Nasdaq
Advancing stocks led by 3.56 to 1 in NYSE & 2.30 to 1 in Nasdaq
Net new 52 wk high led by 57 in NYSE & low by 12 in Nasdaq
VIX Down 8.34% @ 14.95
Oil @ $62.99
Gold @ $1273.20
Stocks which were UP by 2% or more BZUN SQ
AMD HUYA MU IQ SHOP BIDU NVDA WB
ROKU SPLK VICR FSLR CRON CGC JKS
AMAT MRVL OLED YY NTNX ALDR
CHK RIG FSLR SINA OSTK SWKS
X......
AH news...EXPR Down 4.35%, URBN Down 5.78%
JWN Down 9.25%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE was strong and closed near high of the day. Huawei got some delay in enforcement by 90 days that triggered a rally. Most of the internals were positive and strong.Hopefully we will close green on Wednesday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2864.36, high 2868.88, low 2854.02
RSI @ 47.52
CMF @ 0.104
Internals were :
UP volume led by 4.90 to 1 in NYSE & 3.39 to 1 in Nasdaq
Advancing stocks led by 3.56 to 1 in NYSE & 2.30 to 1 in Nasdaq
Net new 52 wk high led by 57 in NYSE & low by 12 in Nasdaq
VIX Down 8.34% @ 14.95
Oil @ $62.99
Gold @ $1273.20
Stocks which were UP by 2% or more BZUN SQ
AMD HUYA MU IQ SHOP BIDU NVDA WB
ROKU SPLK VICR FSLR CRON CGC JKS
AMAT MRVL OLED YY NTNX ALDR
CHK RIG FSLR SINA OSTK SWKS
X......
AH news...EXPR Down 4.35%, URBN Down 5.78%
JWN Down 9.25%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE was strong and closed near high of the day. Huawei got some delay in enforcement by 90 days that triggered a rally. Most of the internals were positive and strong.Hopefully we will close green on Wednesday.
BLOG does NOT give buy or sell.
Saleem
Indices UP .68% to 1.22%.....NICE !!!!
Indices are higher after US adjustment in Huawei policy. Chips are staging a comeback.Indices are near high of the day.
S&P 500 @ 2866.75, high 2868.88, low 2854.02
Internals are positive by as much as 4 to 1
Oil Down 8 cents
Gold Down $3.30
Canadian $ UP 1 tick @ .6584
VIX Down 8.28% @ 14.96
Portfolio BZUN ESTC SQ TSLA
Most stocks are UP
@ 2.09 PM following are red :
MTCH NIU AEM EAF LVS CNX.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2866.75, high 2868.88, low 2854.02
Internals are positive by as much as 4 to 1
Oil Down 8 cents
Gold Down $3.30
Canadian $ UP 1 tick @ .6584
VIX Down 8.28% @ 14.96
Portfolio BZUN ESTC SQ TSLA
Most stocks are UP
@ 2.09 PM following are red :
MTCH NIU AEM EAF LVS CNX.....
BLOG does NOT give buy or sell.
Saleem
Monday, May 20, 2019
Indices closed down .33% to 1.47%......
Indices closed down
S&P 500 @ 2840.23, low 2831.29, high 2853.90
RSI @ 42.07
CMF @ 0.130
Internals were :
Down volume led by 1.70 to 1 in NYSE & 2.53 to 1 in Nasdaq
Declining stocks led by 2.03 to 1 in NYSE & 1.80 to 1 in Nasdaq
Net new 52 wk lows were leading by 52 in NYSE & 106 in Nasdaq
VIX UP 2.19% @ 16.31
Oil @ $63.10
Gold @ $1277.30
AH news....OCUL Down 9.2% , RUBI Down 7.19%
RP UP 8.43%, CIEN UP 3.84%
AH Futures UP
AH Asian Markets Down
AH Oil UP
AH Gold Down
About market, TAPE was under selling pressure due to fallout from Huawei ban by US government which impacted many chips and technology company. Internals were negative all over. Hopefully Huawei issue has seen its reaction and we can move forward from here.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2840.23, low 2831.29, high 2853.90
RSI @ 42.07
CMF @ 0.130
Internals were :
Down volume led by 1.70 to 1 in NYSE & 2.53 to 1 in Nasdaq
Declining stocks led by 2.03 to 1 in NYSE & 1.80 to 1 in Nasdaq
Net new 52 wk lows were leading by 52 in NYSE & 106 in Nasdaq
VIX UP 2.19% @ 16.31
Oil @ $63.10
Gold @ $1277.30
AH news....OCUL Down 9.2% , RUBI Down 7.19%
RP UP 8.43%, CIEN UP 3.84%
AH Futures UP
AH Asian Markets Down
AH Oil UP
AH Gold Down
About market, TAPE was under selling pressure due to fallout from Huawei ban by US government which impacted many chips and technology company. Internals were negative all over. Hopefully Huawei issue has seen its reaction and we can move forward from here.
BLOG does NOT give buy or sell.
Saleem
Indices down .28% to 1.32%.....
Indices are lower on Huawei fallout as US is pursuing banning its 5 G and other support from US companies. Iran and US are fighting about nothing, another day in international politics.
S&P 500 @ 2843.90, low 2832.09, high 2853.86
Internals are negative by almost 2 to 1
Oil Down 7 cents
Gold UP $1.30
Canadian $ UP 18 tick @ .6563
VIX UP 2.51% @ 16.36
Portfolio BZUN ESTC SQ TSLA
Most stocks are down
@ 2.18 PM following are UP :
LULU UAL MTCH NIU AEM VICR EXPE
JKS GPRO MA MS SU ULTA CMG IBM
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2843.90, low 2832.09, high 2853.86
Internals are negative by almost 2 to 1
Oil Down 7 cents
Gold UP $1.30
Canadian $ UP 18 tick @ .6563
VIX UP 2.51% @ 16.36
Portfolio BZUN ESTC SQ TSLA
Most stocks are down
@ 2.18 PM following are UP :
LULU UAL MTCH NIU AEM VICR EXPE
JKS GPRO MA MS SU ULTA CMG IBM
BLOG does NOT give buy or sell.
Saleem
Sunday, May 19, 2019
TAPE behaving negatively.....
It has been a winning strategy to buy the dips, lately not so.
Many stocks in key sectors are not behaving well @ all.
There has been attempt to show strength by many stocks but few are staying above key levels.
I have not seen all of the key index and indices struggling to stay above 50 DMA after 6 trading days, normally when indices or index rebound they quickly move above 50 DMA and stay there.
Here is the real technical picture of key index / indices.
S&P 500 stocks below 50 DMA
Nasdaq below 50 DMA
DOW below 5 DMA
SOX below 50 DMA
RUT below 50 DMA & below 200 DMA
TAN or solar index is above 50 DMA & 200 DMA
Many stocks are struggling along with indices and are not showing any real strength.
As the saying goes " as goes SOX so goes the market "
I am having real difficulty in seeing any catalyst to take this market higher.....
It will be wise to have a defensive allocation until October roles around.
This market needs to find its footing which could be well below current levels, normally test of 200 could be the key.
In the meantime stay with less exposure and be diversified in many sectors.
Good luck with your own interpretation of this market and your own comfort level.
BLOG does NOT give buy or sell.
Saleem
Many stocks in key sectors are not behaving well @ all.
There has been attempt to show strength by many stocks but few are staying above key levels.
I have not seen all of the key index and indices struggling to stay above 50 DMA after 6 trading days, normally when indices or index rebound they quickly move above 50 DMA and stay there.
Here is the real technical picture of key index / indices.
S&P 500 stocks below 50 DMA
Nasdaq below 50 DMA
DOW below 5 DMA
SOX below 50 DMA
RUT below 50 DMA & below 200 DMA
TAN or solar index is above 50 DMA & 200 DMA
Many stocks are struggling along with indices and are not showing any real strength.
As the saying goes " as goes SOX so goes the market "
I am having real difficulty in seeing any catalyst to take this market higher.....
It will be wise to have a defensive allocation until October roles around.
This market needs to find its footing which could be well below current levels, normally test of 200 could be the key.
In the meantime stay with less exposure and be diversified in many sectors.
Good luck with your own interpretation of this market and your own comfort level.
BLOG does NOT give buy or sell.
Saleem
Friday, May 17, 2019
Indices closed down .38% to 1.04%.....
Indices closed down on renewed trade tension between USA & China. It was a volatile day, opening lower then going green and closing near low of the day.
RSI @ 45.59
Internals were :
Down volume led by 2.87 to 1 in NYSE & 2.02 to 1 in Nasdaq
Declining stocks led by 2.87 to 1 in NYSE & 2.52 to 1 in Nasdaq
Net new 52 wk high were leading by 36 in NYSE & lows by 32 in Nasdaq
VIX UP 4.38% @ 15.96
Oil @ $62.76
Gold @ $1275.70
Canadian $ @ .6519
Stocks which closed green included :
HUYA ROKU PHM AEM PRNB
AMAT CIEN PANW OSTK
NKE CMG M.....
Here is my portfolio weighting :
TSLA 33.40%
SQ 31.10%
ESTC 19.80%
BZUN 15.70%
Next post by 6 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
RSI @ 45.59
Internals were :
Down volume led by 2.87 to 1 in NYSE & 2.02 to 1 in Nasdaq
Declining stocks led by 2.87 to 1 in NYSE & 2.52 to 1 in Nasdaq
Net new 52 wk high were leading by 36 in NYSE & lows by 32 in Nasdaq
VIX UP 4.38% @ 15.96
Oil @ $62.76
Gold @ $1275.70
Canadian $ @ .6519
Stocks which closed green included :
HUYA ROKU PHM AEM PRNB
AMAT CIEN PANW OSTK
NKE CMG M.....
Here is my portfolio weighting :
TSLA 33.40%
SQ 31.10%
ESTC 19.80%
BZUN 15.70%
Next post by 6 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
Thursday, May 16, 2019
Indices closed UP .84% to .97%....NICE !!!!
Indices closed UP.
S&P 500 @ 2876.32, high 2892.15, low 2855.80
RSI @ 48.88
CMF @ 0.283
Internals were :
UP volume led by 2.11 to 1 in NYSE & 1.63 to 1 in Nasdaq
Advancing stocks led by 2.19 to 1 in NYSE & 1.44 to 1 in Nasdaq
Net new 52 wk highs were leading by 152 in NYSE & 41 in Nasdaq
VIX Down 7.00% @ 15.29
Oil @ $62.87
Gold @ $1286.20
Stocks which were UP 2% or more included
LULU SHOP MTCH SPLK CIEN JKS
PANW NTNX TK SPWR MSFT KBH....
AH news...AMAT UP 6.00%, IQ Down 6.13%
BIDU Down 10.05%, NVDA UP 2%
AH Futures UP
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE was green from open and closed higher, this was a win of 3 days in a row, nice technical action, S&P 500 & Nasdaq are both above 50 DMA & 200 DMA, while DOW is above 200 DMA but still below 50 DMA. Internals were positive all over which is nice to see.There is only a closing BLOG on Friday's around 7 PM.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2876.32, high 2892.15, low 2855.80
RSI @ 48.88
CMF @ 0.283
Internals were :
UP volume led by 2.11 to 1 in NYSE & 1.63 to 1 in Nasdaq
Advancing stocks led by 2.19 to 1 in NYSE & 1.44 to 1 in Nasdaq
Net new 52 wk highs were leading by 152 in NYSE & 41 in Nasdaq
VIX Down 7.00% @ 15.29
Oil @ $62.87
Gold @ $1286.20
Stocks which were UP 2% or more included
LULU SHOP MTCH SPLK CIEN JKS
PANW NTNX TK SPWR MSFT KBH....
AH news...AMAT UP 6.00%, IQ Down 6.13%
BIDU Down 10.05%, NVDA UP 2%
AH Futures UP
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE was green from open and closed higher, this was a win of 3 days in a row, nice technical action, S&P 500 & Nasdaq are both above 50 DMA & 200 DMA, while DOW is above 200 DMA but still below 50 DMA. Internals were positive all over which is nice to see.There is only a closing BLOG on Friday's around 7 PM.
BLOG does NOT give buy or sell.
Saleem
Indices UP .94% to 1.21%.....NICE !!!!
Indices are higher for third day in a row for lessened trade tension. CSCO better earnings are being greeted by technology sector.
S&P 500 @ 2882.77, high 2892.15, low 2855.80
Internals are positive by minimum 2 to 1 as high as 3 to 1
Oil UP 94 cents
Gold Down $11.30
Canadian $ Down 4 tick @ .6559
VIX Down 4.50% @ 15.70
Portfolio BZUN ESTC SQ TSLA
Most stocks are UP
@ 1.54 PM following are red :
TSLA HUYA MU LRCX AAPL AEM CGC
TLRY CRUS BABA OLED QRVO FNSR
MGA SINA OSTK SWKS TSM M CNX
BLOG does NOT give buy or sell
Saleem
S&P 500 @ 2882.77, high 2892.15, low 2855.80
Internals are positive by minimum 2 to 1 as high as 3 to 1
Oil UP 94 cents
Gold Down $11.30
Canadian $ Down 4 tick @ .6559
VIX Down 4.50% @ 15.70
Portfolio BZUN ESTC SQ TSLA
Most stocks are UP
@ 1.54 PM following are red :
TSLA HUYA MU LRCX AAPL AEM CGC
TLRY CRUS BABA OLED QRVO FNSR
MGA SINA OSTK SWKS TSM M CNX
BLOG does NOT give buy or sell
Saleem
Wednesday, May 15, 2019
Indices closed UP .45% to 1.13%....NICE !!!!
Indices closed UP.
S&P 500 @ 2850.98, high 2858.68, low 2815.08
RSI @ 43.11
CMF @ 0.193
Internals were :
UP volume led by 1.42 to 1 in NYSE & 1.87 to 1 in Nasdaq
Advancing stocks led by 2.05 to 1 in NYSE & 1.48 to 1 in Nasdaq
Net new 52 wk highs were leading by 69 in NYSE & 17 in Nasdaq
VIX Down 8.97% @ 16.44
Oil @ $62.02
Gold @ $1297.80
Stocks which were UP 2% or more included HUYA TWTR FB
SHOP MOMO MTCH NIU SPLK AMAT GOOG NFLX
OLED NTNX TK.....
AH news...AGIO UP 19.81%, SORL UP 7.14%
EDAP Down 16.48%, MXWL Down 4.91%
AH Futures Down
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE recovered nicely from early selling and close near high of the day. Internals were positive. Indices have confirmed this UP move by closing UP 2 days in a row. Many stocks showed renewed strength including most semiconductor stocks. Trade news will remain trigger for both UP and down moves.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2850.98, high 2858.68, low 2815.08
RSI @ 43.11
CMF @ 0.193
Internals were :
UP volume led by 1.42 to 1 in NYSE & 1.87 to 1 in Nasdaq
Advancing stocks led by 2.05 to 1 in NYSE & 1.48 to 1 in Nasdaq
Net new 52 wk highs were leading by 69 in NYSE & 17 in Nasdaq
VIX Down 8.97% @ 16.44
Oil @ $62.02
Gold @ $1297.80
Stocks which were UP 2% or more included HUYA TWTR FB
SHOP MOMO MTCH NIU SPLK AMAT GOOG NFLX
OLED NTNX TK.....
AH news...AGIO UP 19.81%, SORL UP 7.14%
EDAP Down 16.48%, MXWL Down 4.91%
AH Futures Down
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE recovered nicely from early selling and close near high of the day. Internals were positive. Indices have confirmed this UP move by closing UP 2 days in a row. Many stocks showed renewed strength including most semiconductor stocks. Trade news will remain trigger for both UP and down moves.
BLOG does NOT give buy or sell.
Saleem
Indices UP .51% to 1.18%....NICE !!!!
Indices are UP on tone down tweets on trade issues, Indices opened 150 lower now 130 UP in DOW. Indices are @ high of the day.
S&P 500 @ 2853.76, high 2856.36, low 2815.08
Internals are positive by 2 to 1
Oil UP 34 cents
Gold UP $1.20
Canadian $ UP 27 tick @ .6568
VIX Down 6.71% @ 16.74
Portfolio BZUN ESTC SQ TSLA
Most stocks are UP
@ 1.49 PM following are down :
ESTC TSLA NVDA UAL AAL VICR TLRY
PRNB JKS PANW OSTK X M .....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2853.76, high 2856.36, low 2815.08
Internals are positive by 2 to 1
Oil UP 34 cents
Gold UP $1.20
Canadian $ UP 27 tick @ .6568
VIX Down 6.71% @ 16.74
Portfolio BZUN ESTC SQ TSLA
Most stocks are UP
@ 1.49 PM following are down :
ESTC TSLA NVDA UAL AAL VICR TLRY
PRNB JKS PANW OSTK X M .....
BLOG does NOT give buy or sell.
Saleem
Tuesday, May 14, 2019
Indices closed UP .80% to 1.14%....NICE !!!!
Indices closed UP.
S&P @ 2834.41, high 2852.54, low 2820.12
RSI @ 38.93
CMF @ 0.155
Internals were :
UP volume led by 3.69 to 1 in NYSE & 3.77 to 1 in Nasdaq
Advancing stocks led by 3.16 to 1 in NYSE & 2.67 to 1 in Nasdaq
Net new 52 wk high were leading by 19 in NYSE & lows by 27 in Nasdaq
VIX Down 12.12% @ 18.06
Oil @ $61.78
Gold @ $1296.30
Stocks which were UP 2%+ BZUN ESTC SQ TSLA
AMD HUYA MU LRCX MOMO NVDA SPLK
TLRY PRNB BABA MRVL OLED QRVO
NTNX ROKU AMAT ALDR CHK TK
RIG LNG YELP OSTK TSM CMG X
AH news...TLRY UP 4.06%, TCS UP 15.85%
JKS Down 7.01%, A Down 9.92%
AH futures UP
AH Asian Markets Mixed
AH oil Down
AH Gold UP
About market, TAPE staged an oversold bounce, Nasdaq was strongest of all indices. It is important that we close higher on Wednesday to confirm this turnaround. Most sectors participated in today bounce which is a good sign. Internals were mostly strong.
BLOG does NOT give buy or sell.
Saleem
S&P @ 2834.41, high 2852.54, low 2820.12
RSI @ 38.93
CMF @ 0.155
Internals were :
UP volume led by 3.69 to 1 in NYSE & 3.77 to 1 in Nasdaq
Advancing stocks led by 3.16 to 1 in NYSE & 2.67 to 1 in Nasdaq
Net new 52 wk high were leading by 19 in NYSE & lows by 27 in Nasdaq
VIX Down 12.12% @ 18.06
Oil @ $61.78
Gold @ $1296.30
Stocks which were UP 2%+ BZUN ESTC SQ TSLA
AMD HUYA MU LRCX MOMO NVDA SPLK
TLRY PRNB BABA MRVL OLED QRVO
NTNX ROKU AMAT ALDR CHK TK
RIG LNG YELP OSTK TSM CMG X
AH news...TLRY UP 4.06%, TCS UP 15.85%
JKS Down 7.01%, A Down 9.92%
AH futures UP
AH Asian Markets Mixed
AH oil Down
AH Gold UP
About market, TAPE staged an oversold bounce, Nasdaq was strongest of all indices. It is important that we close higher on Wednesday to confirm this turnaround. Most sectors participated in today bounce which is a good sign. Internals were mostly strong.
BLOG does NOT give buy or sell.
Saleem
Indices UP 1.33% to 1.54%....NICE !!!!
Indices are staging an oversold bounce and are near its high of the day.
S&P 500 @ 2847.84, high 2852.54, low 2820.12
Internals are positive by positive by minimum 3 to 1
Oil UP 87 cents
Gold Down $6.20
Canadian $ UP 13 tick @ .6538
VIX Down 11.92% @ 18.10
Portfolio BZUN ESTC SQ TSLA
Most stocks are UP
@ 2.09 PM following are red :
MTCH NIU AEM FFIV GOOG MGA SINA....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2847.84, high 2852.54, low 2820.12
Internals are positive by positive by minimum 3 to 1
Oil UP 87 cents
Gold Down $6.20
Canadian $ UP 13 tick @ .6538
VIX Down 11.92% @ 18.10
Portfolio BZUN ESTC SQ TSLA
Most stocks are UP
@ 2.09 PM following are red :
MTCH NIU AEM FFIV GOOG MGA SINA....
BLOG does NOT give buy or sell.
Saleem
Monday, May 13, 2019
Indices closed down 2.38% to 3.41%........
Indices closed down.
S&P 500 @ 2811.87, low 2801.43, high 2940.19
RSI @ 32.68
CMF @ 0.178
Internals were :
Down volume led by 8.69 to 1 in NYSE & 5.84 to 1 in Nasdaq
Declining Stocks led by 4.80 to 1 in NYSE & 5.12 to 1 in Nasdaq
Net new 52 wk lows were leading by 56 in NYSE & 114 in Nasdaq
VIX UP 28.12% @ 20.55
Oil @ $61.04
Gold @ $1301.80
AH news...SRCL UP 16.57%, WUBA UP 5.78%
AMRX UP 6.62%, FTEK Down 16.53%
AH Futures UP
AH Asian markets Down
AH Oil & Gold UP
About market, TAPE was under intense selling pressure, S&P 500 and Nasdaq pierced through 50 DMA and DOW went below 50 & 200 DMA a massive technical breakdown, it will take a while to repair this damage in a conclusive manner. We may get an oversold bounce on turnaround Tuesday but we must wait for Wednesday's close to see IF there is a confirmation.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2811.87, low 2801.43, high 2940.19
RSI @ 32.68
CMF @ 0.178
Internals were :
Down volume led by 8.69 to 1 in NYSE & 5.84 to 1 in Nasdaq
Declining Stocks led by 4.80 to 1 in NYSE & 5.12 to 1 in Nasdaq
Net new 52 wk lows were leading by 56 in NYSE & 114 in Nasdaq
VIX UP 28.12% @ 20.55
Oil @ $61.04
Gold @ $1301.80
AH news...SRCL UP 16.57%, WUBA UP 5.78%
AMRX UP 6.62%, FTEK Down 16.53%
AH Futures UP
AH Asian markets Down
AH Oil & Gold UP
About market, TAPE was under intense selling pressure, S&P 500 and Nasdaq pierced through 50 DMA and DOW went below 50 & 200 DMA a massive technical breakdown, it will take a while to repair this damage in a conclusive manner. We may get an oversold bounce on turnaround Tuesday but we must wait for Wednesday's close to see IF there is a confirmation.
BLOG does NOT give buy or sell.
Saleem
Indices down 2.36% to 3.04%....
Indices are sharply lower thanks to tit for tat duties imposed by China & US on imports.
S&P 500 @ 2817.06, low 2801.43, high 2840.19
Internals are negative from 6 to 1 to as much as 10 to 1
Oil Down 79 cents
Gold UP $12.79
Canadian $ Down 59 tick @ .6529
VIX UP 28.12% @ 20.55...high 21.32...
Portfolio BZUN ESTC SQ TSLA
Most stocks are down
@ 2.15 PM following are Green :
MTCH NIU AEM GPRO ...
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2817.06, low 2801.43, high 2840.19
Internals are negative from 6 to 1 to as much as 10 to 1
Oil Down 79 cents
Gold UP $12.79
Canadian $ Down 59 tick @ .6529
VIX UP 28.12% @ 20.55...high 21.32...
Portfolio BZUN ESTC SQ TSLA
Most stocks are down
@ 2.15 PM following are Green :
MTCH NIU AEM GPRO ...
BLOG does NOT give buy or sell.
Saleem
Sunday, May 12, 2019
Stock market successful retest or topping out......
Stock market ended the week on a promising note on Friday.
Until close on Friday stocks, markets and charts were looking very weak.
Before we analyze further, let us look @ RSI which always gives me a better read :
XLF 54.83
TAN 52.82
RUT 48.59
S&P 500 46.24
Nasdaq 45.51
SOX 43.72
DOW 41.26
IF we analyze above RSI numbers, it gives the feel of either oversold condition or a TAPE which is weak and getting weaker
Every sector of this market either came close to 50 DMA , tested it or are in the process of topping out......
NOT a healthy picture @ all.
Any bounce from these levels to upper range should be sold...
There are not many catalysts left as earnings are out of the way.
China US trade talks are stalled.
Political mud slinging have started.....
Any gains need to be booked between now and next two weeks.
Oversold bounce will be just a bounce.
Most sectors are showing weakness.
Key stocks are showing weakness.
Good luck with your own analysis and comfort level.
BLOG does NOT give buy or sell.
Saleem
Until close on Friday stocks, markets and charts were looking very weak.
Before we analyze further, let us look @ RSI which always gives me a better read :
XLF 54.83
TAN 52.82
RUT 48.59
S&P 500 46.24
Nasdaq 45.51
SOX 43.72
DOW 41.26
IF we analyze above RSI numbers, it gives the feel of either oversold condition or a TAPE which is weak and getting weaker
Every sector of this market either came close to 50 DMA , tested it or are in the process of topping out......
NOT a healthy picture @ all.
Any bounce from these levels to upper range should be sold...
There are not many catalysts left as earnings are out of the way.
China US trade talks are stalled.
Political mud slinging have started.....
Any gains need to be booked between now and next two weeks.
Oversold bounce will be just a bounce.
Most sectors are showing weakness.
Key stocks are showing weakness.
Good luck with your own analysis and comfort level.
BLOG does NOT give buy or sell.
Saleem
Friday, May 10, 2019
Indices closed UP .08% to .44%...NICE!!!!
Indices closed UP after gyrating hard DOW down 358 points then closing UP 114, All index closed near high of the day, it was a day of news and more news about trade deal which never got done.
S&P 500 @ 28881.40, high 2891.31, low 2825.29
RSI @ 46.24
CMF @ 0.229
Internals were :
UP volume led by 1.26 to 1 in NYSE & 1.08 to 1 in Nasdaq
Advancing stocks led by 1.85 to 1 in NYSE & 1.22 to 1 in Nasdaq
Net new 52 wk high were leading by 7 in NYSE & lows by 42 in Nasdaq
VIX Down 16.02% @ 16.04...high today 20.19.....
Oil @ $61.66
Gold @ $1287.40
Canadian $ @ .6588
Stocks which closed green included ESTC AMD NIU SPLK
FSLR CRON CGC TLRY CSIQ JKS SPWR FFIV TK
LNG LVS GS GOOG MA ORCL OSTK MCD V
MSFT NKW KBH.....
Here is my portfolio weighting :
TSLA 35.40%
SQ 29.30%
ESTC 19.60%
BZUN 15.70%
Next post by 6 PM on Sunday
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 28881.40, high 2891.31, low 2825.29
RSI @ 46.24
CMF @ 0.229
Internals were :
UP volume led by 1.26 to 1 in NYSE & 1.08 to 1 in Nasdaq
Advancing stocks led by 1.85 to 1 in NYSE & 1.22 to 1 in Nasdaq
Net new 52 wk high were leading by 7 in NYSE & lows by 42 in Nasdaq
VIX Down 16.02% @ 16.04...high today 20.19.....
Oil @ $61.66
Gold @ $1287.40
Canadian $ @ .6588
Stocks which closed green included ESTC AMD NIU SPLK
FSLR CRON CGC TLRY CSIQ JKS SPWR FFIV TK
LNG LVS GS GOOG MA ORCL OSTK MCD V
MSFT NKW KBH.....
Here is my portfolio weighting :
TSLA 35.40%
SQ 29.30%
ESTC 19.60%
BZUN 15.70%
Next post by 6 PM on Sunday
BLOG does NOT give buy or sell.
Saleem
Subscribe to:
Posts (Atom)