Indices closed @ low of the day as CHINA USA trade tension got little more tension with passage of support to Hong Kong protest.
S&P 500 @ 3140.98, low 3139.34, high 3150.30
RSI @ 69.34
CMF @ 0.386
Internals were :
Down volume led by 2.95 to 1 in NYSE & 1.19 to 1 in Nasdaq
Declining stocks led by 1.86 to 1 in NYSE & 1.35 to 1 in Nasdaq
Net new 52 wk highs were leading by 135 in NYSE & 75 in Nasdaq
VIX UP 7.40% @ 12.62
Oil @ $55.43
Gold @ $1459.40
Canadian $ @ .6706
Stocks which closed green included BYND BZUN TWLO
NEM UBER AEM GLD MTCH NIU CSIQ CTRP YY
PANW NTNX MA OSTK IBM......
Here is my portfolio weighting on 70% exposure :
TWTR 38.21%
LSCC 31.76%
CIEN 30.03%
Next post by 6 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
Friday, November 29, 2019
Wednesday, November 27, 2019
Indices closed UP .15% to .66%....NICE !!!!
Indices closed UP.
S&P 500 @ 3153.63, high 3154.26, low 3143.41
RSI @ 75.66
CMF @ 0.401
Internals were :
UP volume led by 2.69 to 1 in NYSE & 2.74 to 1 in Nasdaq
Advancing stocks led by 1.76 to 1 in NYSE & 1.98 to 1 in Nasdaq
Net new 52 wk highs were leading by 316 in NYSE & 177 in Nasdaq
VIX UP 1.82% @ 11.75
Oil @ $58.11
Gold @ $1455.00
Stocks which were UP 2% or more included BYND XLNX
SPWR JKS BZUN MOMO IQ MU LULU FEYE SPLK
CGC PRNB BABA CSIQ CTRP EXPE YY NTNX
CHK RIG.....
AH Futures Down
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE closed near high of the day, DOW, S&P 500 & Nasdaq closed @ new all time high. Futures are down due to signing by President of US backing Hong Kong protesters, China had requested not to sign that bill. Trade tension may flare up again. World markets are open tomorrow including Canada.Next post on Friday after close of trading around 7 PM.
HAPPY THANKSGIVING!
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3153.63, high 3154.26, low 3143.41
RSI @ 75.66
CMF @ 0.401
Internals were :
UP volume led by 2.69 to 1 in NYSE & 2.74 to 1 in Nasdaq
Advancing stocks led by 1.76 to 1 in NYSE & 1.98 to 1 in Nasdaq
Net new 52 wk highs were leading by 316 in NYSE & 177 in Nasdaq
VIX UP 1.82% @ 11.75
Oil @ $58.11
Gold @ $1455.00
Stocks which were UP 2% or more included BYND XLNX
SPWR JKS BZUN MOMO IQ MU LULU FEYE SPLK
CGC PRNB BABA CSIQ CTRP EXPE YY NTNX
CHK RIG.....
AH Futures Down
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE closed near high of the day, DOW, S&P 500 & Nasdaq closed @ new all time high. Futures are down due to signing by President of US backing Hong Kong protesters, China had requested not to sign that bill. Trade tension may flare up again. World markets are open tomorrow including Canada.Next post on Friday after close of trading around 7 PM.
HAPPY THANKSGIVING!
BLOG does NOT give buy or sell.
Saleem
Indices UP .15% to .57%...NICE !!!!
Indices are all green again today ahead of Thanksgiving holiday, there is some catchup trade going on to capitalize on the strength of this market, everyone looking @ their year end exposure and results.
S&P 500 @ 3152.93, high 3153.86, low 3143.41
Internals are positive by 1.8 to 1
Oil Down 52 cents
Gold Down $6.10
Canadian $ Down 9 tick @ .6721
VIX Down .17% @ 11.52
Portfolio CIEN LSCC TWTR
Most stocks are UP
@ 2.04 PM following are red :
LSCC WB TWLO NEM UBER AEM GLD
MTCH NIU ROKU AAL PHM GOOG
SNAP TK TRIP ORCL SINA OSTK
ULTA KBH IBM PANW....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3152.93, high 3153.86, low 3143.41
Internals are positive by 1.8 to 1
Oil Down 52 cents
Gold Down $6.10
Canadian $ Down 9 tick @ .6721
VIX Down .17% @ 11.52
Portfolio CIEN LSCC TWTR
Most stocks are UP
@ 2.04 PM following are red :
LSCC WB TWLO NEM UBER AEM GLD
MTCH NIU ROKU AAL PHM GOOG
SNAP TK TRIP ORCL SINA OSTK
ULTA KBH IBM PANW....
BLOG does NOT give buy or sell.
Saleem
Tuesday, November 26, 2019
Indices closed UP .18% to .22%...NICE !!!!
Indices closed UP.
S&P 500 @ 3140.52, high 3142.69, low 3131.00
RSI @ 73.32
CMF @ 0.399
Internals were :
UP volume led by 1.19 to 1 in NYSE & 1.10 to 1 in Nasdaq
Advancing stocks led by 1.34 to 1 in NYSE & 1.01 to 1 in Nasdaq
Net new 52 wk highs were leading by 287 in NYSE & 129 in Nasdaq
VIX Down 2.78% @ 11.54
Oil @ $58.41
Gold @ $1460.30
Stocks which closed green included CIEN TWTR
BYND WB SQ JKS MCD NEM UBER SHOP
AMZN MTCH ROKU PHM PRNB CRUS
BABA CTRP NYNX TRIP SINA ULTA
KBH CMG.....
AH news....ACOR UP 19.43%, QRTEA UP 5.94%
GES Down 4.66%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE closed @ high of the day and made new closing all time highs in DOW, S&P 500 & Nasdaq, when all major Indices do the same thing repeatedly, then some stubborn or new shorts have to take notice, means more new all time highs.Many stocks are trading well below highs including Chinese stocks.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3140.52, high 3142.69, low 3131.00
RSI @ 73.32
CMF @ 0.399
Internals were :
UP volume led by 1.19 to 1 in NYSE & 1.10 to 1 in Nasdaq
Advancing stocks led by 1.34 to 1 in NYSE & 1.01 to 1 in Nasdaq
Net new 52 wk highs were leading by 287 in NYSE & 129 in Nasdaq
VIX Down 2.78% @ 11.54
Oil @ $58.41
Gold @ $1460.30
Stocks which closed green included CIEN TWTR
BYND WB SQ JKS MCD NEM UBER SHOP
AMZN MTCH ROKU PHM PRNB CRUS
BABA CTRP NYNX TRIP SINA ULTA
KBH CMG.....
AH news....ACOR UP 19.43%, QRTEA UP 5.94%
GES Down 4.66%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE closed @ high of the day and made new closing all time highs in DOW, S&P 500 & Nasdaq, when all major Indices do the same thing repeatedly, then some stubborn or new shorts have to take notice, means more new all time highs.Many stocks are trading well below highs including Chinese stocks.
BLOG does NOT give buy or sell.
Saleem
Indices UP .07% to .19%...NICE !!!!
Indices are higher and in record territory again. Indices opened red but managed to stay green so far.
S&P 500 @ 3137.27, high 3141.65, low 3131.00
Internals are neutral
Oil UP 1 cent
Gold UP $5.29
Canadian $ UP 24 tick @ .6727
VIX UP .08% @ 11.88
In my portfolio ...added 25% TWTR @ $30.70
Portfolio CIEN, LSCC, TWTR
Most stocks are UP
@ 2.08 PM following are red by 1% or more :
NVDA AMD TLRY MOMO TSLA MU FEYE NIU
VICR CGC CRON AMAT PANW YY TK RIG
WYNN MS SWKS CNX.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3137.27, high 3141.65, low 3131.00
Internals are neutral
Oil UP 1 cent
Gold UP $5.29
Canadian $ UP 24 tick @ .6727
VIX UP .08% @ 11.88
In my portfolio ...added 25% TWTR @ $30.70
Portfolio CIEN, LSCC, TWTR
Most stocks are UP
@ 2.08 PM following are red by 1% or more :
NVDA AMD TLRY MOMO TSLA MU FEYE NIU
VICR CGC CRON AMAT PANW YY TK RIG
WYNN MS SWKS CNX.....
BLOG does NOT give buy or sell.
Saleem
Monday, November 25, 2019
Indices closed UP .68% to 1.32%.....NICE !!!!
Indices closed UP.
S&P 500 @ 3133.64, high 3133.83, low 3117.44
RSI @ 72.00
CMF @ 0.332
Internals were :
UP volume led by 2.87 to 1 in NYSE & 3.97 to 1 in Nasdaq
Advancing stocks led by 2.76 to 1 in NYSE & 3.30 to 1 in Nasdaq
Net new 52 wk highs were leading by 246 in NYSE & 130 in Nasdaq
VIX Down 3.81% @ 11.87%
Oil @ $58.01
Gold @ $1456.90
Stocks which were UP 3% or more included LSCC
NVDA MOMO IQ LYFT MU SPLK VICR YY
AMAT CTRP RIG CSIQ WYNN LVS SINA
SWKS......
AH news.....NTNX UP 21.74%, PANW Down 8.45%
AH Futures UP
AH Asian Markets UP
AH Oil & Gold Down
About market, TAPE opened strong and kept building on strength and closed @ absolute highest level of the day. DOW, S&P 500 & Nasdaq closed @ new all time highs. Internals were strong. Some stocks started to play catch up and were strong today especially small cap which gained the most today.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3133.64, high 3133.83, low 3117.44
RSI @ 72.00
CMF @ 0.332
Internals were :
UP volume led by 2.87 to 1 in NYSE & 3.97 to 1 in Nasdaq
Advancing stocks led by 2.76 to 1 in NYSE & 3.30 to 1 in Nasdaq
Net new 52 wk highs were leading by 246 in NYSE & 130 in Nasdaq
VIX Down 3.81% @ 11.87%
Oil @ $58.01
Gold @ $1456.90
Stocks which were UP 3% or more included LSCC
NVDA MOMO IQ LYFT MU SPLK VICR YY
AMAT CTRP RIG CSIQ WYNN LVS SINA
SWKS......
AH news.....NTNX UP 21.74%, PANW Down 8.45%
AH Futures UP
AH Asian Markets UP
AH Oil & Gold Down
About market, TAPE opened strong and kept building on strength and closed @ absolute highest level of the day. DOW, S&P 500 & Nasdaq closed @ new all time highs. Internals were strong. Some stocks started to play catch up and were strong today especially small cap which gained the most today.
BLOG does NOT give buy or sell.
Saleem
Indices UP .60% to 1.20%....NICE !!!!
Indices are higher and it is @ high of the day, in new all time highs for S&P 500, Nasdaq.....reason new and improved optimism on US CHINA trade deliberations.....
S&P 500 @ 3129.30, high 3131.65, low 3117.44
Internals are positive by more than 3 to 1
Oil UP 10 cents
Gold Down $7.50
Canadian $ Down 9 tick @ .6690
VIX Down 3.08% @ 11.96...low today 11.93....52 wk low 11.03....
Portfolio CIEN LSCC TWTR
Most stocks are UP
@ 2.06 PM following are red :
TLRY JKS MCD TWLO NEM AEM UBER
GLD KL MTCH CRON NTNX BYND
YELP NKE.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3129.30, high 3131.65, low 3117.44
Internals are positive by more than 3 to 1
Oil UP 10 cents
Gold Down $7.50
Canadian $ Down 9 tick @ .6690
VIX Down 3.08% @ 11.96...low today 11.93....52 wk low 11.03....
Portfolio CIEN LSCC TWTR
Most stocks are UP
@ 2.06 PM following are red :
TLRY JKS MCD TWLO NEM AEM UBER
GLD KL MTCH CRON NTNX BYND
YELP NKE.....
BLOG does NOT give buy or sell.
Saleem
Sunday, November 24, 2019
SOX telling us something about market?
Except for financials, most sector index pulled back last week, a much needed and healthy pullback.
Most sector snapped back after 3 day of minor pullback.....
BUT.....SOX is in a tailspin and is down 5 straight trading days......
SOX did not show green even on Friday.....
NOW...we have Thanksgiving shortened 3.5 days of trading this week.....
Most traders and Investors are wondering what is in store this week....
RSI is looking little more appetizing than previous week when it was flashing major caution, here is a look @ RSI :
XLF 69.34
SPX 66.87
DOW 65.32
Nasdaq 65.02
IWM 57.58
SOX 51.72
As you can clearly see that we are not down enough in S&P 500, DOW & Nasdaq, while XLF is high.
Based on pattern and where we came from, It may be healthy IF we get couple of days of pullback.
IF we get much needed pullback to reset euphoria, It may be a good idea to get back in winners.
Strong stocks have outperformed and there is every reason to believe, that they will continue to do well going forward.
CHINA & USA continue their fight for better trade deal and may create better and better entry point.
Most observers have concluded that their is no urgency for US or CHINA to push for a deal now....
Hong Kong and Impeachment politics may also contribute to delay in any deal making till 2020...
SO...stay on the sideline with limited exposure and wait when trade agreement is signed sealed and delivered, tweets / statements does not cut it anymore....
Good luck with your own analysis and comfort level.
BLOG does NOT give buy or sell.
Saleem
Most sector snapped back after 3 day of minor pullback.....
BUT.....SOX is in a tailspin and is down 5 straight trading days......
SOX did not show green even on Friday.....
NOW...we have Thanksgiving shortened 3.5 days of trading this week.....
Most traders and Investors are wondering what is in store this week....
RSI is looking little more appetizing than previous week when it was flashing major caution, here is a look @ RSI :
XLF 69.34
SPX 66.87
DOW 65.32
Nasdaq 65.02
IWM 57.58
SOX 51.72
As you can clearly see that we are not down enough in S&P 500, DOW & Nasdaq, while XLF is high.
Based on pattern and where we came from, It may be healthy IF we get couple of days of pullback.
IF we get much needed pullback to reset euphoria, It may be a good idea to get back in winners.
Strong stocks have outperformed and there is every reason to believe, that they will continue to do well going forward.
CHINA & USA continue their fight for better trade deal and may create better and better entry point.
Most observers have concluded that their is no urgency for US or CHINA to push for a deal now....
Hong Kong and Impeachment politics may also contribute to delay in any deal making till 2020...
SO...stay on the sideline with limited exposure and wait when trade agreement is signed sealed and delivered, tweets / statements does not cut it anymore....
Good luck with your own analysis and comfort level.
BLOG does NOT give buy or sell.
Saleem
Friday, November 22, 2019
Indices closed UP .16% to .39%...NICE !!!!
Indices closed UP after 3 down days in DOW.
S&P 500 @ 3110.29, high 3112.87, low 3099.26
RSI @ 66.87
CMF @ 0.294
Internals were :
UP volume led by 1.92 to 1 in NYSE & 1.47 to 1 in Nasdaq
Advancing stocks led by 1.50 to 1 in NYSE & 1.40 to 1 in Nasdaq
Net new 52 wk highs were leading by 38 in NYSE & lows by 15 in Nasdaq
VIX Down 6.02% @ 12.34
Oil @ $57.77
Gold @ $1463.60
Stocks which closed green included CIEN TWTR
WB SQ SPWR TWLO BIDU MOMO IQ HUYA
MU LULU ROKU AAL SPLK VICR FSLR
BABA CSIQ EXPE QRVO RIG YELP
LVS GS SWKS NKE X M CNX.....
Here is my portfolio weighting based on 60% exposure :
LSCC 34.58%
TWTR 32.96%
CIEN 32.46%
Next post by 6 PM on Sunday
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3110.29, high 3112.87, low 3099.26
RSI @ 66.87
CMF @ 0.294
Internals were :
UP volume led by 1.92 to 1 in NYSE & 1.47 to 1 in Nasdaq
Advancing stocks led by 1.50 to 1 in NYSE & 1.40 to 1 in Nasdaq
Net new 52 wk highs were leading by 38 in NYSE & lows by 15 in Nasdaq
VIX Down 6.02% @ 12.34
Oil @ $57.77
Gold @ $1463.60
Stocks which closed green included CIEN TWTR
WB SQ SPWR TWLO BIDU MOMO IQ HUYA
MU LULU ROKU AAL SPLK VICR FSLR
BABA CSIQ EXPE QRVO RIG YELP
LVS GS SWKS NKE X M CNX.....
Here is my portfolio weighting based on 60% exposure :
LSCC 34.58%
TWTR 32.96%
CIEN 32.46%
Next post by 6 PM on Sunday
BLOG does NOT give buy or sell.
Saleem
Thursday, November 21, 2019
Indices closed down .16% to .24%......
Indices closed down.
S&P 500 @ 3103.54, low 3094.55, high 3110.11
RSI @ 65.15
CMF @ 0.296
Internals were :
Down volume led by .91 to 1 in NYSE & 1.23 to 1 in Nasdaq
Declining stocks led by 1.55 to 1 in NYSE & 1.37 to 1 in Nasdaq
Net new 52 wk lows were leading by 20 in NYSE & 19 in Nasdaq
VIX UP 2.74% @ 13.13
Oil @ $58.58
Gold @ $1463.60
AH news....PSTG Down 23.93%, SPLK UP 5.57%
JWN UP 8.25%
AH futures UP
AH Asian Markets UP
AH Oil Down
AH Gold UP
About market, TAPE closed down, all internals were negative. DOW closed down 3 days in a row. Looks like It may be all the pullback there is, Friday's close could confirm that. Buy or add strong stocks which will move quickly higher, check RSI for relative value. There is only a closing BLOG on Friday's around 7 PM.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3103.54, low 3094.55, high 3110.11
RSI @ 65.15
CMF @ 0.296
Internals were :
Down volume led by .91 to 1 in NYSE & 1.23 to 1 in Nasdaq
Declining stocks led by 1.55 to 1 in NYSE & 1.37 to 1 in Nasdaq
Net new 52 wk lows were leading by 20 in NYSE & 19 in Nasdaq
VIX UP 2.74% @ 13.13
Oil @ $58.58
Gold @ $1463.60
AH news....PSTG Down 23.93%, SPLK UP 5.57%
JWN UP 8.25%
AH futures UP
AH Asian Markets UP
AH Oil Down
AH Gold UP
About market, TAPE closed down, all internals were negative. DOW closed down 3 days in a row. Looks like It may be all the pullback there is, Friday's close could confirm that. Buy or add strong stocks which will move quickly higher, check RSI for relative value. There is only a closing BLOG on Friday's around 7 PM.
BLOG does NOT give buy or sell.
Saleem
Indices down .09% to .26%.....
Indices are lower due to overbought conditions and downgrades of LRCX, AMAT & AMD.
S&P 500 @ 3103.70, low 3094.55, high 3110.11
Internals are negative
Oil UP $1.44
Gold Down $9.60
Canadian $ UP 21 tick @ .6718
VIX UP 3.91% @ 13.28
Portfolio CIEN LSCC TWTR
Most stocks are down
@ 2.08 PM following are green :
TWTR WB TLRY TSLA LYFT NIU VICR
CGC CRON BABA NFLX WYNN SINA...
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3103.70, low 3094.55, high 3110.11
Internals are negative
Oil UP $1.44
Gold Down $9.60
Canadian $ UP 21 tick @ .6718
VIX UP 3.91% @ 13.28
Portfolio CIEN LSCC TWTR
Most stocks are down
@ 2.08 PM following are green :
TWTR WB TLRY TSLA LYFT NIU VICR
CGC CRON BABA NFLX WYNN SINA...
BLOG does NOT give buy or sell.
Saleem
Wednesday, November 20, 2019
Indices closed down .38% to .51%....
Indices closed down.
S&P 500 @ 3108.46, low 3091.41, high 3118.97
RSI @ 67.52
CMF @ 0.300
Internals were :
Down volume led by 1.54 to 1 in NYSE & 1.27 to 1 in Nasdaq
Declining stocks led by 1.36 to 1 in NYSE & 1.70 to 1 in Nasdaq
Net new 52 wk highs were leading by 42 in NYSE & 1 in Nasdaq
VIX Down .62% @ 12.78
Oil @ $57.11
Gold @ $1474.20
Stocks which were UP 1% or more included NVDA BYND SQ
TLRY JKS UBER ROKU SPLK CGC CRON PRNB CTRP
CMG......
AH news....NUAN UP 7.17%
AH Futures Down
AH Asian Markets Down
AH Oil unchanged
AH Gold UP $1.00
About market, TAPE was weak and closed weak. From hereon how we close matters, do not get trapped in Intraday improvement, It is highly recommended to wait for confirmation of a change in direction. Keep your powder dry for much better entry point, It is coming.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3108.46, low 3091.41, high 3118.97
RSI @ 67.52
CMF @ 0.300
Internals were :
Down volume led by 1.54 to 1 in NYSE & 1.27 to 1 in Nasdaq
Declining stocks led by 1.36 to 1 in NYSE & 1.70 to 1 in Nasdaq
Net new 52 wk highs were leading by 42 in NYSE & 1 in Nasdaq
VIX Down .62% @ 12.78
Oil @ $57.11
Gold @ $1474.20
Stocks which were UP 1% or more included NVDA BYND SQ
TLRY JKS UBER ROKU SPLK CGC CRON PRNB CTRP
CMG......
AH news....NUAN UP 7.17%
AH Futures Down
AH Asian Markets Down
AH Oil unchanged
AH Gold UP $1.00
About market, TAPE was weak and closed weak. From hereon how we close matters, do not get trapped in Intraday improvement, It is highly recommended to wait for confirmation of a change in direction. Keep your powder dry for much better entry point, It is coming.
BLOG does NOT give buy or sell.
Saleem
Indices down .01% to .30%....
Indices are lower ....
S&P 500 @ 3117.55, low 3111.56, high 3118.97
Internals are neutral
Oil UP $1.42
Gold Down $5.60
Canadian $ Down 40 tick @ .6694
VIX Down 1.48% @ 12.67
Portfolio CIENA LSCC TWTR
Most stocks are higher.
@ 11.21 PM following are red :
WB XLNX SPWR MOMO HUYA TSLA NIU
BABA AMAT TRIP MGA SINA ULTA ...
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3117.55, low 3111.56, high 3118.97
Internals are neutral
Oil UP $1.42
Gold Down $5.60
Canadian $ Down 40 tick @ .6694
VIX Down 1.48% @ 12.67
Portfolio CIENA LSCC TWTR
Most stocks are higher.
@ 11.21 PM following are red :
WB XLNX SPWR MOMO HUYA TSLA NIU
BABA AMAT TRIP MGA SINA ULTA ...
BLOG does NOT give buy or sell.
Saleem
Tuesday, November 19, 2019
Indices closed mixed.....
Indices closed mixed.
S&P 500 @ 3120.18, low 3113.47, high 3127.64
RSI @ 73.42
CMF @ 0.336
Internals were :
Down volume led by 1.36 to 1 in NYSE & .76 to 1 in Nasdaq
Declining stocks led by 1.04 to 1 in NYSE & .68 to 1 in Nasdaq
Net new 52 wk highs were leading by 119 in NYSE & 43 in Nasdaq
VIX UP 3.21% @ 12.86
Oil @ $55.21
Gold @ $1474.30
Stocks which closed green included SQ AMD SPWR
JKS FSLR TWLO FB MRVL TSLA UBER MTCH
AAL CGC CRON YY MA V.....
AH news...BCRX UP 9.14%, URBN Down 16.33%
AMRN Down 4.4%
AH Futures Down
AH Asian Markets Down
AH Oil UP
AH Gold Down
About market, TAPE closed mixed with Nasdaq making another all time high. Internals remains weak. A pullback is long overdue, never fight for last $. Earnings were less than stellar this morning and trade rhetoric is heating up again, not a good thing in this highly elevated market.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3120.18, low 3113.47, high 3127.64
RSI @ 73.42
CMF @ 0.336
Internals were :
Down volume led by 1.36 to 1 in NYSE & .76 to 1 in Nasdaq
Declining stocks led by 1.04 to 1 in NYSE & .68 to 1 in Nasdaq
Net new 52 wk highs were leading by 119 in NYSE & 43 in Nasdaq
VIX UP 3.21% @ 12.86
Oil @ $55.21
Gold @ $1474.30
Stocks which closed green included SQ AMD SPWR
JKS FSLR TWLO FB MRVL TSLA UBER MTCH
AAL CGC CRON YY MA V.....
AH news...BCRX UP 9.14%, URBN Down 16.33%
AMRN Down 4.4%
AH Futures Down
AH Asian Markets Down
AH Oil UP
AH Gold Down
About market, TAPE closed mixed with Nasdaq making another all time high. Internals remains weak. A pullback is long overdue, never fight for last $. Earnings were less than stellar this morning and trade rhetoric is heating up again, not a good thing in this highly elevated market.
BLOG does NOT give buy or sell.
Saleem
Indices mixed....
Indices are mixed after green open, Indices are trying to erase losses.
S&P 500 @ 3123.04, high 3127.64, low 3113.47
Internals are neutral
Oil Down $1.82
Gold UP $3.29
Canadian $ Down 61 tick @ .6733
VIX UP .96% @ 12.58
Portfolio CIEN LSCC TWTR
Most stocks are UP
@ 2.10 PM following are red by 1% or more :
NVDA BYND WB MOMO LYFT MU LRCX
SHOP ROKU AMAT TK RIG SINA OSTK
SU ULTA X M CNX.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3123.04, high 3127.64, low 3113.47
Internals are neutral
Oil Down $1.82
Gold UP $3.29
Canadian $ Down 61 tick @ .6733
VIX UP .96% @ 12.58
Portfolio CIEN LSCC TWTR
Most stocks are UP
@ 2.10 PM following are red by 1% or more :
NVDA BYND WB MOMO LYFT MU LRCX
SHOP ROKU AMAT TK RIG SINA OSTK
SU ULTA X M CNX.....
BLOG does NOT give buy or sell.
Saleem
Monday, November 18, 2019
Indices closed UP .05% to .11%....NICE !!!!
Indices closed UP.
S&P 500 @ 3122.03, high 3124.17, low 3112.06
RSI @ 74.37
CMF @ 0.293
Internals were :
Down volume led by 1.49 to 1 in NYSE & .95 to 1 in Nasdaq
Declining stocks led by 1.20 to 1 in NYSE & 1.30 to 1 in Nasdaq
Net new 52 wk highs were leading by 142 in NYSE & 36 in Nasdaq
VIX UP 3.40% @ 12.46
Oil @ $57.05
Gold @ $1471.90
Stocks which were UP 1% or more included SQ
NVDA AMD TWLO MOMO FB IQ HUYA
LYFT NEM SHOP MTCH ROKU PHM
SPLK CTRP NFLX WYNN SINA
NKE KBH CMG X.....
AH news....CLVS UP 9.07%, PIR UP 5.11%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE closed green after weak open. Internals were weak which is a concern on new all time high close. Trade and politics may trigger much needed pullback. I have reduced my exposure by 40% to adjust for overbought market. It is a traders market even a daytrader environment.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3122.03, high 3124.17, low 3112.06
RSI @ 74.37
CMF @ 0.293
Internals were :
Down volume led by 1.49 to 1 in NYSE & .95 to 1 in Nasdaq
Declining stocks led by 1.20 to 1 in NYSE & 1.30 to 1 in Nasdaq
Net new 52 wk highs were leading by 142 in NYSE & 36 in Nasdaq
VIX UP 3.40% @ 12.46
Oil @ $57.05
Gold @ $1471.90
Stocks which were UP 1% or more included SQ
NVDA AMD TWLO MOMO FB IQ HUYA
LYFT NEM SHOP MTCH ROKU PHM
SPLK CTRP NFLX WYNN SINA
NKE KBH CMG X.....
AH news....CLVS UP 9.07%, PIR UP 5.11%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE closed green after weak open. Internals were weak which is a concern on new all time high close. Trade and politics may trigger much needed pullback. I have reduced my exposure by 40% to adjust for overbought market. It is a traders market even a daytrader environment.
BLOG does NOT give buy or sell.
Saleem
Indices UP .08% to .12%...NICE !!!!
Indices opened lower on Chinese version for lack of progress in signing trade agreement, Indices have erased losses and are @ high of the day.
S&P 500 @ 3122.92, high 3123.46, low 3112.06
Internals are neutral.
Oil Down 99 cents
Gold UP $4.00
Canadian $ UP 13 tick @ .67.92
VIX UP 4.81% @ 12.63
In my portfolio :
Sold SPWR @ $8.36
Sold SQ @ $66.10
Portfolio CIEN LSCC TWTR
Most stocks are UP
@ 2.04 PM following are red by 1% or more :
BYND WB XLNX JKS BZUN MRVL AAL
CGC CRON PRNB YY NTNX TK RIG
LNG SU SWKS CNX.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3122.92, high 3123.46, low 3112.06
Internals are neutral.
Oil Down 99 cents
Gold UP $4.00
Canadian $ UP 13 tick @ .67.92
VIX UP 4.81% @ 12.63
In my portfolio :
Sold SPWR @ $8.36
Sold SQ @ $66.10
Portfolio CIEN LSCC TWTR
Most stocks are UP
@ 2.04 PM following are red by 1% or more :
BYND WB XLNX JKS BZUN MRVL AAL
CGC CRON PRNB YY NTNX TK RIG
LNG SU SWKS CNX.....
BLOG does NOT give buy or sell.
Saleem
Sunday, November 17, 2019
Are we in a parabolic rise stage in stock market?
TAPE has been on a wild rise since 1st week of October 2019, in roughly 6 weeks most Indices have outperformed in the dreaded month of October.....
Many are interpreting this rise as unusual and rare.....not so.....
IF we go back to September 2018......Indices have barely moved....
YES....we are @ new all time highs in every major Index except IWM......
BUT gains in last 12 to 13 months is very muted.......
Here is what we gained since last September 2018:
DOW.........2.26%
Nasdaq....5.00%
S&P 500...6.11%
Extremely muted and normal run of the mill gains
History pegs 8.00% as average gains for market
That is not all.....IF we take famous all telling Financials....picture is really pathetic and it is :
Since January of 2018 XLF has gained only 1.46% in 23 months.........
What I am trying to highlight, do NOT be afraid of few days of new all time highs.....IWM is still hoping to do it in coming week..It is still 11.77 points away or .69%......
Once we have made series of new highs in IWM.....then we will be overbought.....NOT YET!
When we make new all time highs, Internals are much more robust than what we have observed this time....means too many skeptics and too many positioned the wrong way in this TAPE.
It is safe to conclude that many traders / Investors are not invested as much as they should.....underexposed @ new all time highs means.....much farther to go.....
And yes RSI is not in neverland either, they are :
DOW 75.70
S&P 500 74.11
Nasdaq 71.12
XLF 69.84
SOX 67.06
IWM 64.13
SO....IF there is an event driven pullback.....time to buy strength.....pullback may not last more than 1.5 days......
Good luck with your own analysis & comfort level.
BLOG does NOT give buy or sell.
Saleem
Many are interpreting this rise as unusual and rare.....not so.....
IF we go back to September 2018......Indices have barely moved....
YES....we are @ new all time highs in every major Index except IWM......
BUT gains in last 12 to 13 months is very muted.......
Here is what we gained since last September 2018:
DOW.........2.26%
Nasdaq....5.00%
S&P 500...6.11%
Extremely muted and normal run of the mill gains
History pegs 8.00% as average gains for market
That is not all.....IF we take famous all telling Financials....picture is really pathetic and it is :
Since January of 2018 XLF has gained only 1.46% in 23 months.........
What I am trying to highlight, do NOT be afraid of few days of new all time highs.....IWM is still hoping to do it in coming week..It is still 11.77 points away or .69%......
Once we have made series of new highs in IWM.....then we will be overbought.....NOT YET!
When we make new all time highs, Internals are much more robust than what we have observed this time....means too many skeptics and too many positioned the wrong way in this TAPE.
It is safe to conclude that many traders / Investors are not invested as much as they should.....underexposed @ new all time highs means.....much farther to go.....
And yes RSI is not in neverland either, they are :
DOW 75.70
S&P 500 74.11
Nasdaq 71.12
XLF 69.84
SOX 67.06
IWM 64.13
SO....IF there is an event driven pullback.....time to buy strength.....pullback may not last more than 1.5 days......
Good luck with your own analysis & comfort level.
BLOG does NOT give buy or sell.
Saleem
Friday, November 15, 2019
Indices UP .73% to .80%....NICE !!!!
Indices closed @ high of the day on renewed hope for signing phase 1 agreement between USA & CHINA. DOW, NASDAQ & S&P 500 all closed @ new all time highs.
S&P 500 @ 3120.46, high 3120.46, low 3104.60
RSI @ 74.11
CMF @ 0.303
Internals were :
UP volume led by 3.38 to 1 in NYSE & 1.87 to 1 in Nasdaq
Advancing stocks led by 1.84 to 1 in NYSE & 1.50 to 1 in Nasdaq
Net new 52 wk highs were leading by 192 in NYSE & 53 in Nasdaq
VIX Down 7.66% @ 12.05
Oil @ $57.72
Gold @ $1468.50
Canadian $ @ .6769
Stocks which were UP 2% or more included SQ SPWR
BZUN LYFT UBER LRCX ROKU AMAT CTRP
NTNX M CNX.....
In my portfolio:
Sold AMD @ $39.30
Added 70% SPWR @ $8.03 ( pre-market)
Added 40% LSCC @ $19.56
Here is my portfolio weighting :
LSCC 23.15%
CIEN 21.50%
TWTR 20.67%
SQ 20.59%
SPWR 14.09%
Next post by 6 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3120.46, high 3120.46, low 3104.60
RSI @ 74.11
CMF @ 0.303
Internals were :
UP volume led by 3.38 to 1 in NYSE & 1.87 to 1 in Nasdaq
Advancing stocks led by 1.84 to 1 in NYSE & 1.50 to 1 in Nasdaq
Net new 52 wk highs were leading by 192 in NYSE & 53 in Nasdaq
VIX Down 7.66% @ 12.05
Oil @ $57.72
Gold @ $1468.50
Canadian $ @ .6769
Stocks which were UP 2% or more included SQ SPWR
BZUN LYFT UBER LRCX ROKU AMAT CTRP
NTNX M CNX.....
In my portfolio:
Sold AMD @ $39.30
Added 70% SPWR @ $8.03 ( pre-market)
Added 40% LSCC @ $19.56
Here is my portfolio weighting :
LSCC 23.15%
CIEN 21.50%
TWTR 20.67%
SQ 20.59%
SPWR 14.09%
Next post by 6 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
Thursday, November 14, 2019
Indices closed mixed....
Indices closed mixed.
S&P 500 @ 3096.63, high 3098.20, low 3083.26
RSI @ 69.70
CMF @ 0.244
Internals were :
UP volume led by .83 to 1 in NYSE & 1.10 to 1 in Nasdaq
Advancing stocks led by 1.34 to 1 in NYSE & .83 to 1 in Nasdaq
Net new 52 wk highs were leading by 47 in NYSE & lows by 25 in Nasdaq
VIX UP .38% @ 13.05
Oil @ $56.77
Gold @ $1473.40
AH news...AMAT UP 3.93%, RH UP 6.72%
ACB Down 11.85%
AH Futures UP
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE remains near flatline @ close. S&P 500 closed @ new all time high, other Indices may do It tomorrow. Interesting market, news is discouraging but Indices keep making new all time highs. Tonight earnings report are good which is showing in Futures being higher. Internals have been mixed just like Indices. There is only a closing BLOG on Friday's around 7 PM.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3096.63, high 3098.20, low 3083.26
RSI @ 69.70
CMF @ 0.244
Internals were :
UP volume led by .83 to 1 in NYSE & 1.10 to 1 in Nasdaq
Advancing stocks led by 1.34 to 1 in NYSE & .83 to 1 in Nasdaq
Net new 52 wk highs were leading by 47 in NYSE & lows by 25 in Nasdaq
VIX UP .38% @ 13.05
Oil @ $56.77
Gold @ $1473.40
AH news...AMAT UP 3.93%, RH UP 6.72%
ACB Down 11.85%
AH Futures UP
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE remains near flatline @ close. S&P 500 closed @ new all time high, other Indices may do It tomorrow. Interesting market, news is discouraging but Indices keep making new all time highs. Tonight earnings report are good which is showing in Futures being higher. Internals have been mixed just like Indices. There is only a closing BLOG on Friday's around 7 PM.
BLOG does NOT give buy or sell.
Saleem
Indices down .08% to .16%....
Indices are lower due to overbought condition and uncertainty due to trade and impeachment. Reaction to issues have been mild so far which is very good.
S&P 500 @ 3092.25, low 3083.26, high 3096.59
Internals are negative
Oil Down 33 cents
Gold UP $9.20
Canadian $ Down 8 tick @ .6743
VIX UP 2.23% @ 13.29
Portfolio AMD CIEN LSCC SPWR SQ TWTR
Most stocks are down
@ 2.22 PM following are green :
AMD SQ BYND TSLA MU LULU LRCX ROKU
CSIQ GOOG NFLX M JKS....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3092.25, low 3083.26, high 3096.59
Internals are negative
Oil Down 33 cents
Gold UP $9.20
Canadian $ Down 8 tick @ .6743
VIX UP 2.23% @ 13.29
Portfolio AMD CIEN LSCC SPWR SQ TWTR
Most stocks are down
@ 2.22 PM following are green :
AMD SQ BYND TSLA MU LULU LRCX ROKU
CSIQ GOOG NFLX M JKS....
BLOG does NOT give buy or sell.
Saleem
Wednesday, November 13, 2019
Indices closed mixed.....
Indices closed mixed.
S&P 500 @ 3093.91, high 3098.06, low 3078.80
RSI @ 69.14
CMF @ 0.198
Internals were :
Down volume led by 1.47 to 1 in NYSE & 1.16 to 1 in Nasdaq
Declining stocks led by 1.17 to 1 in NYSE & 1.35 to 1 in Nasdaq
Net new 52 wk highs were leading by 37 in NYSE & lows by 22 in Nasdaq
VIX UP 2.52% @ 13.00
Oil @ $57.12
Gold @ $1463.30
AH news....CSCO Down 5.12%, BZH Down 5.86%
AH Futures UP
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE struggled whole day but managed to get mixed close. DOW made a brand new all time high and closing high. S&P 500 made a closing high also. Fed speech and impeachment proceeding kept pressure @ start but trade issues between CHINA & USA took a big hit mid day, we did recoup some of the losses from trade slump by close, a good ending for the market.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3093.91, high 3098.06, low 3078.80
RSI @ 69.14
CMF @ 0.198
Internals were :
Down volume led by 1.47 to 1 in NYSE & 1.16 to 1 in Nasdaq
Declining stocks led by 1.17 to 1 in NYSE & 1.35 to 1 in Nasdaq
Net new 52 wk highs were leading by 37 in NYSE & lows by 22 in Nasdaq
VIX UP 2.52% @ 13.00
Oil @ $57.12
Gold @ $1463.30
AH news....CSCO Down 5.12%, BZH Down 5.86%
AH Futures UP
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE struggled whole day but managed to get mixed close. DOW made a brand new all time high and closing high. S&P 500 made a closing high also. Fed speech and impeachment proceeding kept pressure @ start but trade issues between CHINA & USA took a big hit mid day, we did recoup some of the losses from trade slump by close, a good ending for the market.
BLOG does NOT give buy or sell.
Saleem
Indices mixed....
Indices were green but turned mixed, when news came about issues with CHINA vs USA trade agreement phase 1, so now its back to more negotiations, market does not expects backtracking on an agreed deal.
S&P 500 @ 3090.23, low 3078.80, high 3098.06
Internals are negative
Oil UP 33 cents
Gold UP $13.30
Canadian $ Down 18 tick @ .6751
VIX UP 5.05% @ 13.32
Portfolio AMD CIEN LSCC SPWR SQ TWTR
Most stocks are down
@ 2.36 PM following are green :
AMD TSM TWLO LYFT NEM AEM LULU SHOP
ROKU PHM OSTK NKE KBH ....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3090.23, low 3078.80, high 3098.06
Internals are negative
Oil UP 33 cents
Gold UP $13.30
Canadian $ Down 18 tick @ .6751
VIX UP 5.05% @ 13.32
Portfolio AMD CIEN LSCC SPWR SQ TWTR
Most stocks are down
@ 2.36 PM following are green :
AMD TSM TWLO LYFT NEM AEM LULU SHOP
ROKU PHM OSTK NKE KBH ....
BLOG does NOT give buy or sell.
Saleem
Tuesday, November 12, 2019
Indices closed UP 0% to .26%....NICE!!!!
Indices closed UP.
S&P 500 @ 3091.84, high 3102.61, low 3084.73
RSI @ 68.73
CMF @ 0.162
Internals were :
Down volume led by 1.37 to 1 in NYSE & .81 to 1 in Nasdaq
Declining stocks led by 1.04 to 1 in NYSE & .99 to 1 in Nasdaq
VIX Down .08% @ 12.68
Oil @ $56.80
Gold @ $1453.70
Stocks which were UP 1% or more included AMD
BYND JKS BZUN MRVL FB TSLA MU ROKU
VICR CRUS OLED PANW SWKS KBH CMG...
AH news...DDOG UP 14.83%, CSIQ Down 9.02%
TTPH Down 7.97%
AH Futures Down
AH Asian Markets Down
AH Oil Down
AH Gold UP
About market, TAPE was all over the place but by close we closed unchanged to UP. S&P 500 and Nasdaq made a new all time high S&P 500 Intraday and new all time high & Nasdaq closing high.
Internals were mostly negative which is not a good thing on day of new all time high, market looks overbought and tired, needs pullback.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3091.84, high 3102.61, low 3084.73
RSI @ 68.73
CMF @ 0.162
Internals were :
Down volume led by 1.37 to 1 in NYSE & .81 to 1 in Nasdaq
Declining stocks led by 1.04 to 1 in NYSE & .99 to 1 in Nasdaq
VIX Down .08% @ 12.68
Oil @ $56.80
Gold @ $1453.70
Stocks which were UP 1% or more included AMD
BYND JKS BZUN MRVL FB TSLA MU ROKU
VICR CRUS OLED PANW SWKS KBH CMG...
AH news...DDOG UP 14.83%, CSIQ Down 9.02%
TTPH Down 7.97%
AH Futures Down
AH Asian Markets Down
AH Oil Down
AH Gold UP
About market, TAPE was all over the place but by close we closed unchanged to UP. S&P 500 and Nasdaq made a new all time high S&P 500 Intraday and new all time high & Nasdaq closing high.
Internals were mostly negative which is not a good thing on day of new all time high, market looks overbought and tired, needs pullback.
BLOG does NOT give buy or sell.
Saleem
Indices mixed....
Indices have turned mixed and @ low of the day.
S&P 500 @ 3091.56, high 3102.61, low 3088.81
Internals are neutral
Oil Down 7 cents
Gold Down $1.50
Canadian $ UP 9 tick @ .6778
VIX UP 1.34% @ 12.86
Portfolio AMD CIEN LSCC SPWR SQ TWTR
Most stocks are UP
@ 2.25 PM following are red :
SQ TWTR TWLO HUYA AAL CGC CRON TLRY
EXPE NFLX YY LVS YELP SINA OSTK CNX..
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3091.56, high 3102.61, low 3088.81
Internals are neutral
Oil Down 7 cents
Gold Down $1.50
Canadian $ UP 9 tick @ .6778
VIX UP 1.34% @ 12.86
Portfolio AMD CIEN LSCC SPWR SQ TWTR
Most stocks are UP
@ 2.25 PM following are red :
SQ TWTR TWLO HUYA AAL CGC CRON TLRY
EXPE NFLX YY LVS YELP SINA OSTK CNX..
BLOG does NOT give buy or sell.
Saleem
Monday, November 11, 2019
Indices closed mixed....
Indices closed mixed.
S&P 500 @ 3087.01, low 3075.82, high 3088.33
RSI @ 67.82
CMF @ 0.191
Internals were :
Down volume led by 1.51 to 1 in NYSE & .99 to 1 in Nasdaq
Declining stocks led by 1.37 to 1 in NYSE & 1.17 to 1 in Nasdaq
Net new 52 wk highs were leading by 58 in NYSE & lows by 4 in Nasdaq
VIX UP 5.14% @ 12.69
Oil @ $56.86
Gold @ $1457.10
AH news....JCOM Down 3.08%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold Down.
About market, TAPE was weak @ open but managed to close near high of the day. DOW had another all time high close. Internals were weak and may need some time to digest gains or another tweet of good news to boost this TAPE. So we wait either digestive process to end or another shot @ new highs by news.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3087.01, low 3075.82, high 3088.33
RSI @ 67.82
CMF @ 0.191
Internals were :
Down volume led by 1.51 to 1 in NYSE & .99 to 1 in Nasdaq
Declining stocks led by 1.37 to 1 in NYSE & 1.17 to 1 in Nasdaq
Net new 52 wk highs were leading by 58 in NYSE & lows by 4 in Nasdaq
VIX UP 5.14% @ 12.69
Oil @ $56.86
Gold @ $1457.10
AH news....JCOM Down 3.08%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold Down.
About market, TAPE was weak @ open but managed to close near high of the day. DOW had another all time high close. Internals were weak and may need some time to digest gains or another tweet of good news to boost this TAPE. So we wait either digestive process to end or another shot @ new highs by news.
BLOG does NOT give buy or sell.
Saleem
Indices mixed.....
Indices are mixed after a weak open on trade concern and Hong Kong protest. Indices have recovered to best level of the day.
S&P 500 @ 3087.57, low 3075.82, high 3088.33
Internals are negative by almost 2 to 1
Oil Down 6 cents
Gold Down $4.80
Canadian $ UP 9 tick @ .6783
VIX UP 5.47% @ 12.73
Portfolio AMD CIEN LSCC SPWR SQ TWTR
Most stocks are down
@ 2.06 PM following are green :
CIEN LSCC SPWR SQ JKS TWLO BZUN
TSLA LULU SHOP ROKU FSLR CTRP
YELP ULTA KBH CMG X M.....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3087.57, low 3075.82, high 3088.33
Internals are negative by almost 2 to 1
Oil Down 6 cents
Gold Down $4.80
Canadian $ UP 9 tick @ .6783
VIX UP 5.47% @ 12.73
Portfolio AMD CIEN LSCC SPWR SQ TWTR
Most stocks are down
@ 2.06 PM following are green :
CIEN LSCC SPWR SQ JKS TWLO BZUN
TSLA LULU SHOP ROKU FSLR CTRP
YELP ULTA KBH CMG X M.....
BLOG does NOT give buy or sell.
Saleem
Sunday, November 10, 2019
Are we ready for minor pullback?
We had unbelievably strong 5 weeks in US market, we are @ all time highs in every major Indices except Russell 2000.
We also had the highest close ever on Friday in DOW, NASDAQ & S&P 500.....
NOW...the logical question is " are we ready for a pause "
To answer that, we want to look @ RSI my preferred technical indicator, they are :
XLF 76.07
S&P 500 70.22
DOW 69.22
Nasdaq 68.49
SOX 67.81
IWM 66.85
Financials are clearly in overbought territory......
S&P 500 also in overbought territory.....
DOW, Nasdaq & SOX are almost in overbought range....
Russell 2000 is lagging, but not by much.....
YES....we are in a " pause area "
We may have couple of days of UP days, then reversal / pause is not out of question.
Most common strategy is to book profit when any stock hit couple of days of new highs.
OR...you can sit tight and hope that couple of days of pullback is all we are going to get, then party will restart.
I personally think, we are going much higher going into new year...
November remaining 3 weeks may see digestion of huge gains....
I will recommend looking @ " rotation angle " by end of November.....
Expecting December to be a strong month......
Ready or not....a pause in rally may be in store....
Good luck with your own understanding of this TAPE and comfort level.
BLOG does NOT give buy or sell.
Saleem
We also had the highest close ever on Friday in DOW, NASDAQ & S&P 500.....
NOW...the logical question is " are we ready for a pause "
To answer that, we want to look @ RSI my preferred technical indicator, they are :
XLF 76.07
S&P 500 70.22
DOW 69.22
Nasdaq 68.49
SOX 67.81
IWM 66.85
Financials are clearly in overbought territory......
S&P 500 also in overbought territory.....
DOW, Nasdaq & SOX are almost in overbought range....
Russell 2000 is lagging, but not by much.....
YES....we are in a " pause area "
We may have couple of days of UP days, then reversal / pause is not out of question.
Most common strategy is to book profit when any stock hit couple of days of new highs.
OR...you can sit tight and hope that couple of days of pullback is all we are going to get, then party will restart.
I personally think, we are going much higher going into new year...
November remaining 3 weeks may see digestion of huge gains....
I will recommend looking @ " rotation angle " by end of November.....
Expecting December to be a strong month......
Ready or not....a pause in rally may be in store....
Good luck with your own understanding of this TAPE and comfort level.
BLOG does NOT give buy or sell.
Saleem
Friday, November 8, 2019
Indices closed UP .02% to .48%...NICE !!!!
Indices closed @ high of the day. DOW, S&P 500 & Nasdaq had the highest close ever. Market Ignored denial by USA that they are lowering tariff for Chinese imports, a sign of internal strength.
S&P 500 @ 3093.03, high 3093.03, low 3073.58
RSI @ 70.21
CMF @ 0.149
Internals were :
UP volume led by 1.20 to 1 in NYSE & 1.64 to 1 in Nasdaq
Advancing stocks led by 1.07 to 1 in NYSE & 1.13 to 1 in Nasdaq
Net new 52 wk highs were leading by 107 in NYSE & by 2 in Nasdaq
VIX Down 5.18% @ 12.07
Oil @ $57.24
Gold @ $1462.90
Canadian $ @ .6778
Stocks which were UP 1% or more included LSCC
BYND JKS TWLO BIDU MSFT HUYA FEYE
ROKU SPLK VICR CGC CRON TLRY CNX
CRUS EXPE PANW QRVO NTNX YELP
MS SWKS CNX....
Here is my portfolio weighting :
CIEN 20.20%
TWTR 19.70%
SQ 19.00%
AMD 17.20%
LSCC 16.00%
SPWR 7.90%
Next post by 6 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 3093.03, high 3093.03, low 3073.58
RSI @ 70.21
CMF @ 0.149
Internals were :
UP volume led by 1.20 to 1 in NYSE & 1.64 to 1 in Nasdaq
Advancing stocks led by 1.07 to 1 in NYSE & 1.13 to 1 in Nasdaq
Net new 52 wk highs were leading by 107 in NYSE & by 2 in Nasdaq
VIX Down 5.18% @ 12.07
Oil @ $57.24
Gold @ $1462.90
Canadian $ @ .6778
Stocks which were UP 1% or more included LSCC
BYND JKS TWLO BIDU MSFT HUYA FEYE
ROKU SPLK VICR CGC CRON TLRY CNX
CRUS EXPE PANW QRVO NTNX YELP
MS SWKS CNX....
Here is my portfolio weighting :
CIEN 20.20%
TWTR 19.70%
SQ 19.00%
AMD 17.20%
LSCC 16.00%
SPWR 7.90%
Next post by 6 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
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