All major Indices DOW, S&P 500 & Nasdaq are sitting within 2 days of trading to make a new all time high.....
Only Russell 2000 is about 4.61% away from making new all time highs, only sector which has not done in this run.....
SOX is only 1.93% away from making new all time high, SOX was the first sector to make a brand new all time high in this run.....
Are we going to wait or pull back a little then make a run, that remains to be seen.
Fed meeting may not change anything, but market may like to hear their policy statement.
Here is a look @ RSI for some guidance :
IWM 65.72
S&P 500 63.98
Nasdaq 63.97
DOW 59.92
SOX 56.34
Very interesting reading, IWM is the strongest and SOX is the weakest, two extreme and they normally are watched for market direction.
RSI is indicating that market is not overbought, which Is a good thing.
SOX looks like an oversold sector, which can be bought right here.
Nasdaq is attractive also in terms of buying focus.
DOW is lagging.....
Based on RSI read, market can easily make new all time highs this week.
Year end rally is very much in focus.
Good luck with your own read of this TAPE and comfort level.
BLOG does NOT give buy or sell.
Saleem
6 comments:
Hi Saleem,
Sold LK @ 30.08 to take profits
Stocktrader
Hi Saleem,
Sold PTON @ 34.12 to take profits
Stocktrader
Hi Saleem,
Last week: -0.62% (YTD: +12.72%)
Notable Winners: CSTL ENPH
Notable Losers: DDOG PTON TDOC BHVN
It was a "consolidation" week after recent huge gains in many of my positions. I am generally pleased with how the portfolio has performed lately, so I'll continue to try and make small strategic moves along with my core holdings.
Holdings (after today's moves): PLAN ZM LITE CSOD VICR ENPH BHVN DDOG CSTL TRIL, cash 18.5%
Hi Saleem,
Bought HAE @ 118.78
After an interesting analyst note today highlighting potential plasma treatments to help Alzheimer's, I thought I'd give this name a try that has otherwise been quiet for a while.
Stocktrader
Hi Saleem,
Bought CRWD @ 49.98
After great earnings and guidance, but being depressed due to the lockup expiration today, I'll see if it can gain traction now.
Stocktrader
Hi Stocktrader,
Nice profit.....
Good luck with HAE & CRWD.....
Last week Down 2.30%
YTD Gain 59.37%
Saleem
Post a Comment