Indices closed UP .14% to .65%....NICE !!!!

 Indices closed the year on an UP note, all major Indices closed @ all time highs, Small caps were lagging today after huge run into all time highs earlier.

S&P 500 @ 3756.07, high 3760.20, low 3726.88

RSI @ 67.82

CMF @ 0.188

Internals were :

UP volume led by 1.39 to 1 in NYSE & .89 to 1 in Nasdaq

Advancing stocks led by 1.44 to 1 in NYSE & .89 to 1 in Nasdaq

Net new 52 wk highs were leading by 275 in NYSE & 189 in Nasdaq

VIX Down .09% @ 22.75

Oil @ $48.52

Gold @ $1895.10

Canadian $ @ .7242

Stocks which closed green included MGM

DASH SNAP RUN IBM CSIQ MU INTC

ZI NTAP ENPH EAT UPS ELF MOMO 

MCD TSLA NFLX YELP LVS MS CMG

ULTA .....

My portfolio weighting is :

SU            28.06%

AAL         14.19%

MGM      13.92%

CCL       11.28% 

BB         10.48%

APA         8.29%

AG          6.36%

TECK     5.72%

CNX      1.70%

HAPPY NEW YEAR!!!!

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .13% to .24%....NICE !!!!

 Indices closed UP.

S&P 500 @ 3732.04, high 3744.63, low 3730.21

RSI @ 64.48

CMF @ 0.203

Internals were :

UP volume led by 2.52 to 1 in NYSE & 3.67 to 1 in Nasdaq

Advancing stocks led by 2.32 to 1 in NYSE & 2.25 to 1 in Nasdaq

Net new 52 wk highs were leading by 298 in NYSE & 226 in Nasdaq

VIX Down 1.34% @ 22.77

Oil @ $48.34

Gold @ $1893.40

Canadian $ @ .7232

Portfolio AAL APA BB CCL CNX AG MGM SU TECK

Stocks which were UP 2% or more included APA CNX AG TECK

MGNI RIOT FCX CLF AI MSTR SQ BIDU MRVL RUN NIO

SPWR GAN MU LYFT QRVO DADA AUY CNQ KL CGC

CRWD PDD JD SEDG KRA VICR HUYA TSM TSLA UAL 

FEYE FSLR YY JWN OXY SLB AMAT YELP CSIQ MA 

ULTA TSM LRCX X M TLRY ACB.....

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE was green pre market and closed green with DOW @ new all time high. There was a fade in all indices @ close. Internals were strong and many sectors remained strong till close. Tomorrow is the last trading day of 2020, should be a positive  / strong close. Its the end of week / month / Q / 6 months / Year.......

BLOG does NOT give buy or sell.

Saleem

Indices closed Down .22% to .38%.....

 Indices closed down.

S&P 500 @ 3727.04, low 3723.31, high 3756.12

RSI @ 63.75

CMF @ 0.224

Internals were :

Down volume led by 1.85 to 1 in NYSE & 1.44 to 1 in Nasdaq

Declining stocks led by 1.70 to 1 in NYSE & 2.53 to 1 in Nasdaq

Net new 52 wk highs were leading by 217 in NYSE & 169 in Nasdaq

VIX UP 6.36% @ 23.08

Oil @ $48.00

Gold @ $1882.90

Canadian $ @ .7202

Portfolio AAL APA BB CCL CNX AG MGM SU TECK

Stocks which closed green included TECK

RIOT BIDU SNAP PINS GAN INTC

PLAN CNQ SHOP ZM UBER BABA

PDD JD EAT IQ HUYA MOMO 

LULU BZUN AMZN EXPE

NFLX YY NIO LNG MA

V X....

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE opened higher but closed near low of the day. There was lot of profit booking for year end tax purposes as some had very low income to report for 2020 due to COVID-19. Depending how last day of trading is recognized in USA this selling pattern may continue. Prepare your portfolio for 2021 starting January.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .68% .87%....NICE !!!

 Indices closed UP.

S&P 500 @ 3735.36, high 3740.51, low 3723.03

RSI @ 65.83

CMF @ 0.268

Internals were :

UP volume led by .95 to 1 in NYSE & 1.62 in Nasdaq

Advancing stocks led by 1.21 to 1 in NYSE & 1.09 to 1 in Nasdaq

Net new 52 wk highs were leading by 452 in NYSE & 432 in Nasdaq

VIX UP .79% @ 21.70

Oil @ $47.62

Gold @ $1880.40

Canadian $ @ .7168

In my portfolio... Bought CNX @ $10.70

Portfolio AAL APA BB CCL CNX AG MGM SU TECK

Stocks which closed green included AAL CCL AG MGM

RIOT MSTR NKLA LYFT NCLH FB AMZN UAL JWN

GOOG YELP LVS MA MGA ULTA M....

AH Futures UP

AH Asian Markets UP

AH Oil & Gold UP

About market, TAPE closed near high of the day. Market reacted to stimulus being done with more being done in 24 hours. All Indices reached new all time highs. Internals were not so strong. Many markets were closed for Boxing day like Toronto & London. Tomorrow could be a better day in market.

BLOG does NOT give buy or sell.

Saleem

US stock market still waiting for stimulus.....

 US stock market is again caught in stimulus signature game...

IF the stimulus bill is signed, then the market may resume its uptrend...

IF stimulus bill is not signed by Monday open, market may justifiably throw tantrum

There are other issues facing world markets....issue of new strain of COVID-19 which is spreading fast in many parts of the world, Britain, Japan, Korea and many other countries.

China is also facing Corona Virus issue again in one city, they have shut down that city.

Canada is also facing resurgence of COVID-19, Ontario has gone into complete lockdown till end of January, this is a province of 14 million residents

US is still seeing increasing infection, hospitalization and deaths...

How US stock market will take all this is yet to be seen until we open on Monday....

Any negative reaction to lack of stimulus and resurgence of Corona may last 1 trading day, thus a buying opportunity.

Sector wise a broad based diversification is highly recommended for 2021

Technology will remain in play without participation from most highest market caps

Restart companies will be the theme for 2021

Last day of trading to close 2020 is Tuesday in Canada, plan your trading accordingly.

Good luck with your own analysis and comfort level.

Here is my portfolio weighting with 33% add on to MGM on Thursday the 24th December, 2020 :

SU           29.12%

AAL        14.33%

MGM     13.82%

BB         11.34%

CCL      11.05%

APA        8.58%

AG         6.13% 

TECK    5.63%

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 3690.01, high 3711.24, low 3689.28

RSI @ 59.24

CMF @ 0.254

Internals were :

UP volume led by 3.23 to 1 in NYSE & 3.98 to 1 in Nasdaq

Advancing stocks led by 2.37 to 1 in NYSE & 1.74 to 1 in Nasdaq

Net new 52 wk highs were leading by 387 in NYSE & 426 in Nasdaq

VIX Down 3.81% @ 23.31

Oil @ $48.12

Gold @ $1878.10

Canadian $ @ .7155

Portfolio AAL APA BB CCL AG MGM SU TECK

Stocks which were UP 2% or more included

AAL APA CCL AG MGM SU TECK

MGNI FCX CLF CNX RIDE IAG

DKNG GAN CLDR DADA CNQ

CGC TLRY ACB HST JD KRA

NVAX ELF MRNA NCLH UAL

FEYE SPLK JWN OXY SLB

YELP WYNN MGA MSM...

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE closed mixed and ignored veto by white house and refusal to sign stimulus package. Nasdaq took a well deserved rest after making new all time highs. DOW & S&P 500 closed UP and near high of the day. Tomorrow we close @ 1PM, US market reopens on Monday. There will no BLOG until Sunday @ 6 PM.

Enjoy Christmas!

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed...

 Indices closed mixed.

S&P 500 @ 3687.26, low 3676.16, high  3698.26

RSI @ 58.82

CMF @ 0.326

Internals were :

UP volume led by .58 to 1 in NYSE & 2.04 to 1 in Nasdaq

Advancing stocks led by .76 to 1 in NYSE & 1.20 to 1 in Nasdaq

Net new 52 wk highs were leading by 280 in NYSE & 429 in Nasdaq

VIX Down 3.70% @ 24.23

Oil @ $47.02

Gold @ $1870.30

Canadian $ @ .7160

Portfolio AAL APA BB CCL AG MGM SU TECK

Stocks which closed green included BB

MGNI FUBO RIOT AI MSTR RIDE

SQ CIIC RUN SPWR GAN JKS ZI

CSIQ PANW CLDR PLAN SHOP

CRWD UBER DDOG ENPH JD

LITE EAT AAPL FEYE FSLR

NTNX MGA .....

AH Futures Down

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, TAPE opened lower but Nasdaq managed to close green. Stimulus bill is signed and $600 per person check is on the way plus other weekly benefits. It was a classic big yawn on this agreement. Market is resting and may hold lows from previous day when DOW was down 400+. It was a good year for most traders / investors.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 3694.92, low 3636.48, high 3702.96

RSI @ 60.44

CMF @ 0.339

Internals were :

Down volume led by 1.97 to 1 in NYSE & .60 to 1 in Nasdaq

Declining stocks led by 1.85 to 1 in NYSE & 1.26 to 1 in Nasdaq

Net new 52 wk highs were leading by 248 in NYSE & 221 in Nasdaq

VIX UP 16.64% @ 25.16...high today 31.46

Oil @ $47.97

Gold @ $1882.30

Canadian $ @ .7160

Portfolio AAL APA BB CCL AG MGM SU TECK

Stocks which were UP 2% or more included BB AG

CLF AI MSTR RIDE RUN NIO SPWR JKS SNOW 

CSIQ DOCU ZI SHOP ROKU CRWD UBER 

ENPH NKE VICR FEYE FSLR MS X....

AH Futures Mixed

AH Asian Markets Down

AH Oil & Gold UP

About market, TAPE was faced a brand new surprise of Corona Virus which was infecting much faster than known before in England, reaction was extremely swift in world market, futures were down 700 DOW points and opened as low as 430+. Buyers stepped in @ low of the day to take advantage of corrected prices. DOW closed green. Looks like we are heading higher after this slump.

BLOG does NOT give buy or sell.

Saleem

US market may " rocket UP "

 US market is poised to " rocket UP " based on two key development...

US banks are given clean bill of health to buyback shares and increase dividend

US banks passed stress test with flying colors

Stimulus bill is hours away from being approved...

Above two key development is like putting more fuel to the stock market bullish fire

Monday could be the day when we may create many all time records...keep counting

IF you are in this market with maximum exposure which I am, it could be a banner day to count profit.

IF you are in financials, which I am not, may see biggest gains .....

SO IF you could add @ open, it could be the best add you will ever make to your portfolio.

SO..do your home work quickly, check charts, fundamental analysis and RSI and just add any stock which you may like.

As far as RSI is concerned, following number are given for your own analysis:

TAN          74.98

IWM         73.85

Nasdaq    70.77

SLV          64.53

SOX         64.18

S&P 500  63.53

DOW       59.63

XLF         58.16

GLD        56.53

XLE        56.44

As you can clearly see Solar stocks, Russell 2000 and Nasdaq are leading the pack

Gold stocks and energy stocks are @ bargain basement bin, may have most potential to go UP IF Oil prices stay high as it is already.

US$ is taking a beating which should benefit Oil, Crypto, Gold, Silver, Copper to name a few....

Good luck with your own analysis and comfort level.

BLOG does NOT give buy or sell.

Saleem

 

Indices closed down .07% to .41%....

 Indices closed down slightly despite no stimulus deal yet. 

S&P 500 @ 3709.41, low 3685.84, high 3726.70

RSI @ 63.53

CMF @ 0.262

Internals were :

Down volume led by 2.00 to 1 in NYSE & 1.04 to 1 in Nasdaq

Declining stocks led by 1.41 to 1 in NYSE & 1.25 to 1 in Nasdaq

Net new 52 wk highs were leading by 413 in NYSE & 430 in Nasdaq

VIX Down 1.64% @ 21.57

Oil @ $49.10

Gold @ $1888.90

Canadian $ @ .7219

In my portfolio :

Sold MGM @ $31.60

Added 125% TECK @ $17.95

Added 50% BB @ $6.95

Bought AG @ $12.68

Bought MGM @ $31.52

Stocks which closed green included MGM

AI MSTR DASH SQ BIDU MRVL RUN

NIO JKS SNOW CSIQ PANW LYFT

QRVO TWTR DADA GOOS ROKU

CIEN MTCH ZM CRWD ESTC 

NTAP SEDG ELF TER BYND

TWLO FB TSLA FEYE FSLR

EXPE NTNX SPWR WYNN

ORCL SWKS MSTR....

Here is my portfolio weighting :

SU            29.88%

AAL         15.31%

CCL        11.52%

BB          11.29%

MGM     10.81%

APA         9.23%

AG          6.14% 

TECK     5.82%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .49% to .64%...NICE !!!!

 Indices closed UP.

S&P 500 @ 3722.48, high 3725.12, low 3710.87

RSI @ 66.37

CMF @ 0.297

Internals were :

UP volume led by 2.36 to 1 in NYSE & 2.08 to 1 in Nasdaq

Advancing stocks led by 2.21 to 1 in NYSE & 2.18 to 1 in Nasdaq

Net new 52 wk highs were leading by 501 in NYSE & 415 in Nasdaq

VIX Down 2.53% @ 21.93

Oil @ $48.36

Gold @ $1902.00

Canadian $ @ .7242

In my portfolio :

Sold 25% MGM @ $31.11 within second of close 

Bought BB @ $8.23

Portfolio AAL APA BB CCL MGM SU TECK

Stocks which were UP 2% or more included CLF

CNX AI SNAP MRVL AG NIO DKNG GOLD

GAN PANW AUY NEM DOCU ZI CRWD

ESTC DDOG KBH NVAX MRNA HUYA

PHM MOMO BYND LULU BZUN TWLO

TSLA AEM SPLK NTNX OSTK....

AH Futures Down

AH Asian Market Mixed

AH Oil & Gold Down

BB AH earnings report was a beat in Sales & EPS, guiding sequential growth, CC was upbeat with better things to come. BB AH Down 36 cents or 4.36%

About market, TAPE was strong on stimulus hope and closed @ high of the day. This is a strange TAPE which keeps going UP. I am afraid that when stimulus deal is done we may face " sell the news ". In the meantime keep booking profit and stay diversified. MRNA vaccine getting thumbs UP for approval recommendation with zero NO vote.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed.......

 Indices closed mixed.

S&P 500 @ 3701.17, high 3711.27, low 3688.57

RSI @ 63.93

CMF @ 0.214

Internals were :

Down volume led by 1.24 to 1 in NYSE & .73 to 1 in Nasdaq

Declining stocks led by 1.01 to 1 in NYSE & 1.07 to 1 in Nasdaq

Net new 52 wk highs were leading by 357 in NYSE & 292 to 1 in Nasdaq

VIX Down 1.70% @ 22.50

Oil @ $47.82

Gold @ $1859.10

Canadian $ @ .7242

Portfolio AAL APA CCL MGM SU TECK

Stocks which were UP 3% or more included CCL AI MSTR

SQ CIIC AG DANG GAN DADA PENN ESTC DDOG 

MOMO WB MOMO OSTK CMG ....

AH Futures Mixed

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE closed mixed as further progress was made in Stimulus talks. Fed statement was reassuring about low low rates. Nasdaq was strong as many tech went UP again, Nasdaq made a new all time high. Market is looking ready to make series of new highs in all indices. Keep booking profit to take advantage of money inflow in equities.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 1.13% to 1.29%....NICE !!!!

 Indices closed UP.

S&P 500 @ 3694.62, high 3695.29, low 3659.62

RSI @ 63.17

CMF @ 0.218

Internals were :

UP volume led by 4.89 to 1 in NYSE & 2.14 to 1 in Nasdaq

Advancing stocks led by 3.24 to 1 in NYSE & 2.30 to 1 in Nasdaq

Net new 52 wk highs were leading by 280 in NYSE & 275 in Nasdaq

VIX Down 7.40% @ 22.89

Oil @ $47.62

Gold @ 22.89

Canadian $ @ .7264

In my portfolio ... Bought TECK @ $18.46

Portfolio AAL APA CCL MGM SU TECK

Stocks which closed UP 3% or more APA CCL MGM TECK

RIDE BIDU AG RUN NIO GAN JKS CSIQ LYFT AUY

KL MTCH ENPH LITE KRA AAPL VICR ASML FSLR

CRUS OLED JWN OXY SLB WYNN MS OSTK SWKS

X M CGC ACB.....

AH Futures Down

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, TAPE enjoyed President elect Biden electoral college victory and renewed stimulus negotiations, even Senate majority leader joined celebration by congratulating President & Vice President elect. Market liked all the niceties thus closing @ high of the day. Keep booking profit as you go along.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed.....

 Indices closed mixed.

S&P 500 @ 3647.49, low 3645.84, high 3697.61

RSI @ 57.10

CMF @ 0.220

Internals were :

Down volume led by 3.64 to 1 in NYSE & .73 to 1 in Nasdaq

Declining stocks led by 1.44 to 1 in NYSE & .99 to 1 in Nasdaq

Net new 52 wk highs were leading by 329 in NYSE & 318 in Nasdaq

VIX UP 6.05% @ 24.72

Oil @ $46.99

Gold @ $1832.10

Canadian $ @ .7207

Portfolio AAL APA CCL MGM SU

Stocks which were UP 1% or more included BB MRVL AMD 

CLOU SPWR JKS CSIQ MU INTC PANW QRVO PENN

DOCU DDOG ENPH NVAX TER VICR LSCC MOMO

QCOM XLNX LULU MCD TWLO TSLA SPLK MA

MGA NFLX NTNX TWTR AMZN....

AH Futures UP

AH Asian Markets Down

AH Oil Down

AH Gold UP

About market, TAPE started strong but DOW faded first then S&P 500 but Nasdaq remained green but all indices closed near low of the day. It was a normal sell the news story of start of vaccine in USA. Nothing has changed as far as technicals or market rotation. Today stay @ home in vogue Tuesday could be " restart ". Stay with your own conviction and watch your diversified allocation give you better gains.

BLOG does NOT give buy or sell.

Saleem

Stock market got good news.......

 Stock market was in a consolidation mode last 3 trading days.

All Indices found support.

Major catalyst emerging to boost stock market

Pfizer vaccine got approval, vaccination starts Monday the 14th December

US supreme court gave closure to Presidential election result in USA

Above two should give a huge boost to stock market on Monday

RSI is giving a very interesting sector strength report and they are :

IWM            71.36

XLE            66.56

JETS          63.62

Nasdaq      61.52

TAN           61.13

XLF          61.03

SOX         60.38

DOW       60.36

S&P 500 60.22

GLD       46.25

IF we look @ RSI strength then Russell 2000 and Energy stocks are in the lead with 1 & 2 showing relative outperformance.

Airlines are showing strength in number 3 spot.

S&P 500 is 2nd last, who knew that this picture will emerge

Gold remains " Dog of the RSI " in dead last position by a mile

DOW is 3rd from the last in sector strength

I do not believe any technician which I follow ever predicted that when markets are close to all time high, even Nasdaq will not make it to top 3 relative strength position

BUT things are changing....and has changed in a big way

With COVID-19 vaccine being given from Monday and Presidential theatrics are out of the way, Monday could be the day " to see the light for restart of US economy "

Expect huge gains in restart stocks energy, cruise lines, airlines, materials....

Please adjust your portfolio to reflect " restart is here "

Good luck with your own analysis and your own comfort level.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed. Despite mixed close indices closed near high of the day.

S&P 500 @ 3663.46, low 3633.40, high 3665.91

RSI @ 60.22

CMF @ 0.294

Internals were :

Down volume led by 1.42 to 1 in NYSE & .98 to 1 in Nasdaq

Declining stocks led by 1.42 to 1 in NYSE & 1.48 to 1 in Nasdaq

Net new 52 wk highs were leading by 250 in NYSE & 240 in Nasdaq

VIX UP 3.51% @ 23.31

Oil @ $46.57

Gold @ $1843.60

Canadian $ .7229

Stocks which closed green included RIDE BIDU SNAP RUN

SPWR RXT MSFT PANW TWTR DADA DOCU ZI KL

ROKU CIEN ERI MTCH NTAP ENPH JD NVAX UPS

SEDG MRNA IQ HUYA BYND TWLO AMZN SPLK

ORCL LRCX....

In my portfolio added 60% CCL @ $22.00

Here is my portfolio weighting :

MGM          33.24%

SU             31.02%

AAL          15.29%

CCL         11.08%

APA         9.37%

Next post around 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 3668.10, low 3645.18, high 3678.49

RSI @ 61.12

CMF @ 0.242

Internals were :

UP volume led by 1.39 to 1 in NYSE & 2.19 to 1 in Nasdaq

Advancing stocks led by 1.27 to 1 in NYSE & 1.66 to 1 in Nasdaq

Net new 52 wk highs were leading by 244 in NYSE & 214 in Nasdaq

VIX UP .94% @ 22.48

Oil @ $46.78

Gold @ $1837.40

Canadian $ @ .7269

In my portfolio:

Added 80% CCL @ $22.60

Sold CNX @ $11.05

Portfolio AAL APA CCL MGM SU

Stocks which were UP 4% or more included AAL APA CNX SU

CLF AI SQ BIDU SNAP PINS DADA ROKU DDOG PDD

TWLO OXY NTNX TWTR.....

AH Futures Mixed

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE showed a rare display of strong prices in Oil / Gas Stocks & @ home stocks in double digits move. Market is displaying confidence in economy by boosting techs & Oil / Gas stocks. No stimulus deal and there is a one week hiatus. Important to book profit as most stocks have been in Auto-Pilot mode.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .35% to 1.94%.....

 Indices closed down.

S&P 500 @ 3672.82, low 3660.54, high 3712.39

RSI @ 62.00

CMF @ 0.238

Internals were :

Down volume led by 1.02 to 1 in NYSE & 2.02 to 1 in Nasdaq

Declining stocks led by 1.09 to 1 in NYSE & 1.87 to 1 in Nasdaq

Net new 52 wk highs were leading by 474 in NYSE & 416 in Nasdaq

VIX UP 7.69% @ 22.27

Oil @ $45.52

Gold @ $1838.50

Canadian $ @ .7104

In my portfolio Bought CCL @ $23.90

Portfolio AAL APA CCL CNX MGM SU

Stocks which were UP 1% or more included APA CNX

AI DASH BIDU LYFT DSS UBER EAT UPS HUYA

EXPE JWN OXY ORCL ULTA M....

AH Futures Mixed

AH Asian Markets Down

AH Oil & Gold UP

About market, TAPE was under selling pressure after positive open which made new all time highs in major indices. Today's selling was more related to 2 IPO's AI & DASH which sucked lot of cash from Nasdaq high fliers. Stay with your trading  / investing strategies as fundamentals or technicals are still extremely positive until first week of January.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .28% to .50%....NICE !!!!

 Indices closed UP.

S&P 500 @ 3702.25, high 3708.45, low 3678.83

RSI @ 67.61

CMF @ 0.296

Internals were :

UP volume led by 1.74 to 1 in NYSE & 2.00 to 1 in Nasdaq

Advancing stocks led by 1.85 to 1 in NYSE & 1.80 to 1 in Nasdaq

Net new 52 wk highs were leading by 430 in NYSE & 381 in Nasdaq

VIX Down 2.91% @ 20.68

Oil @ $45.60

Gold @ $1874.90

Canadian $ @ .7188

Portfolio AAL APA CNX MGM SU

Stocks which were UP 2% or more included   AAL SU

BB RUN NIO SPWR GAN JKS PANW CLDR PENN

ROKU CRWD ESTC ENPH PDD SEDG KRA MRNA

NCLH MOMO TWLO SPLK OXY NTNX X.....

AH Futures UP

AH Asian Markets UP

AH Oil & Gold Down

About market, TAPE was in new all time high record mode with S&P 500, Nasdaq & Russell 2000 all closing in that coveted position. Again both @ home & to open stocks participated in this run. Solar stocks also participated. Internals were strong. Chinese consumer prices dropped for the first time since 2009.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed.....

 Indices closed mixed.

S&P 500 @ 3691.96, low 3678.88, high 3697.41

RSI @ 66.63

CMF @ 0.167

Internals were :

Down volume led by 1.63 to 1 in NYSE & .78 to 1 in Nasdaq

Declining stocks led by 1.28 to 1 in NYSE & 1.07 to 1 in Nasdaq

Net new 52 wk highs were leading by 485 in NYSE & 429 in Nasdaq

VIX UP 2.45% @ 21.30

Oil @ $45.76

Gold @ $1866.00

Canadian $ @ .7201

In my portfolio Sold CCL @ $23.25

Portfolio AAL APA CNX MGM SU

Stocks which closed green included AAL

SQ CIIC SNAP PINS MRVL AG RUN

NIO PFE IAG GOLD QRVO PENN

AUY GOOS NEM SHOP KL ROKU 

CIEN TOL KBH CRWD LITE SEDG

MRNA AAPL DHI PHM NKE BA

VICR LSCC TSM FB TSLA AEM

LRCX NFLX MGA SWKS NKE

X MSTR.....

AH Futures Down

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, TAPE was under pressure due to profit taking and no deal on stimulus. Nasdaq made a new all time high intraday. For digestive phase, it was a pretty mild negative session with stay home stocks doing well as California enforces shutdown due to rising infection. This could be a swing trading market or long term hold market depending on your trading style, both are fine.

BLOG does NOT give buy or sell.

Saleem

Stock market in " overdrive stage "....

 Worldwide stock markets are in an " overdrive stage "

Most indices are extending their gains....

Most extended are SOX, XRT & IWM

Biggest laggard is GLD followed by TAN

All other sectors have more room to run

XLE may be able to do a " golden cross " IF current uptrend in oil stocks holds.....

SOX is sporting an RSI of 76.61....could easily go into 80+++

XRT RSI is 75.27.... on its way to 80+++++

Russell 2000 RSI @ 73.54...on its way to 80++++

XLE RSI is 68.75....may even touch 90.....IF current trend holds...longer the base...higher it goes...

Nasdaq RSI @ 70.35....IF you can believe it...it is a laggard now.....

DOW is lagging badly with RSI @ 64.95.....

S&P 500 RSI @ 67.96....is looking healthy.....without TSLA

IF we get stimulus deal done, this may give another boost to roaring bull......

What has caused all this " bullish mania "....it IS world Central Banks pumping liquidity with no limit, all well coordinated with low low low interest rates.....

I do not expect to see any change in Central Banks behavior anytime soon.....

SO enjoy this party as most sectors participates in this run to RSI 90....in most cases.....

Good luck with your own interpretation of this TAPE and your own comfort level.

Diversification works!

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .70% to .88%...NICE!!!!

 Indices closed @ high of the day with new all time highs in all major indices. Most sector participated in this massive bull run, laggards are leading the pack with spirited UP move like oil stocks, technology is not far behind.

S&P 500 @ 3699.12, high 3699.26, low 3670.94

RSI @ 67.96

CMF @ 0.163

Internals were :

UP volume led by 4.31 to 1 in NYSE & 1.53 to 1 in Nasdaq

Advancing stocks led by 3.53 to 1 in NYSE & 2.93 to 1 in Nasdaq

Net new 52 wk highs were leading by 486 in NYSE & 403 in Nasdaq

VIX 2.30% @ 20.79

Oil @ $46.28

Gold @ $1840.00

Canadian $ @ .7199

Stocks which were UP 2% or more included APA CCL CNX MGM SU

BB FCX CIIC SNOW MU LTFT UBER QRVO CLDR NXPI DOCU

CNQ ROKU MTCH HST CRWD ESTC CVX NCLH QCOM TSM

XLNX LRCX JWN OXY SLB NTNX LNG WYNN LVS MA V X

M SWKS PANW....

In my portfolio added 70% MGM @ $30.20

Here is my portfolio weighting :

SU        29.27%

AAL     23.93%

MGM   14.63%

CNX    14.53%

CCL     9.01%

APA     8.63%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed......

 Indices closed mixed.

S&P 500 @ 3666.72, low 3657.12, high 3682.73

RSI @ 65.03

CMF @ 0.123

Internals were :

UP volume led by 1.97 to 1 in NYSE & 1.31 to 1 in Nasdaq

Advancing stocks led by 2.02 to 1 in NYSE & 1.51 to 1 in Nasdaq

Net new 52 wk highs were leading by 354 in NYSE & 305 in Nasdaq

VIX UP .52% @ 21.28

Oil @ $45.64

Gold @ $1841.10

Canadian $ @ .7120

In my portfolio ...added 60% MGM @ $29.60

Portfolio AAL APA CCL CNX MGM SU

Stocks which were UP 2% or more included AAL APA CCL SU

RIDE CIIC PINS SNOW INTC DOCU ZI ROKU TOL KBH

DAL UAL CRWD ESTC DDOG JD NVAX EAT MRNA

NCLH DHI PHM BA MOMO TSLA BABA WYNN

ULTA M MSTR JWN OXY.....

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE was doing perfect until the last 30 minutes of trading when news of PFE 50% shipment of vaccine came, everything when RED in 2 minutes then tried to recover in closing minutes. Along the way Indices kept making new all time highs while DOW made new all time closing high. This TAPE is now taking @ home & soon to open stocks UP same day from open till close, % gains are outsized in both sectors. Diversified is the best way to be to get optimum gains.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 3669.01, high 3670.96, low 3644.84

RSI @ 65.42

CMF @ 0.131

Internals were :

UP volume led by 2.20 to 1 in NYSE & 1.90 to 1 in Nasdaq

Advancing stocks led by 1.46 to 1 in NYSE & 1.15 to 1 in Nasdaq

Net new 52 wk highs led by 170 in NYSE & 128 in Nasdaq

VIX UP 1.93% @ @ 21.17

Oil @ $45.28

Gold @ $1830.20

Canadian $ @ .7062

Portfolio AAL APA CCL CNX MGM SU

Stocks which were UP 2% or more included AAL APA CCL SU 

BIDU SNAP NIO PFE BB MU LYFT PENN CGC UBER PDD

CVX KRA ELF BA LRCX UAL JWN OXY SLB NTNX ACB

TLRY WYNN X M.....

AH Futures Mixed

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE made a new all time record high closing in S&P 500 closing @ high of the day. Vaccine approval keeps coming from UK first USA to follow in next 2 weeks with 2 approvals. Rotation is in full swing while everyone waits for " 5% pullback " There is rotation pullbacks in every sector on every 2 trading day basis that adjusts mini froth in a hurry.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .63% to 1.28%...NICE!!!!

 Indices closed UP.

S&P 500 @ 3662.45, high 3678.45, low 3645.87

RSI @ 64.86

CMF @ 0.104

Internals were :

UP volume led by 2.27 to 1 in NYSE & .91 to 1 in Nasdaq

Advancing stocks led by 2.45 to 1 in NYSE & 1.38 to 1 in Nasdaq

Net new 52 wk highs were leading by 329 in NYSE & 309 in Nasdaq

VIX UP .97% @ 20.77

Oil @ $44.55

Gold @ $1818.90

Canadian $ @ .7040

Portfolio AAL APA CCL CNX MGM SU

Stocks which closed UP 1% or more included MGM FCX AG

PFE IAG BB MU INTC MSFT QRVO AUY CNQ CIEN 

MTCH HST NTAP EAT KRA TER AAPL TSM BA 

VICR ASML QCOM LULU FB TSLA AEM LRCX 

SPLK AMAT NFLX JWN SLB NTNX WYNN 

LVS MS AMZN ULTA SWKS CMG X....

AH Futures Down

AH Asian Markets Down

AH Oil & Gold Down

About market, TAPE closed UP not @ best level. Internals were mostly positive. Politicians are back in DC and will talk more and do less. Market may be impacted by lack of decision in House & Senate. Market needs new catalyst. Vaccine is old news and fully priced in. Try to book profit or stay put for end of the month window dressing which is also end of Q / 6 months / Year.....

BLOG does NOT give buy or sell.

Saleem

Indices closed down .06% to .91%....

 Indices closed down.

S&P 500 @ 3621.63, low 3594.39, high 3634.18

RSI @ 61.19

CMF @ 0.113

Internals were :

Down volume led by 3.68 to 1 in NYSE & .61 to 1 in Nasdaq

Declining stocks led by 2.21 to 1 in NYSE & 1.67 to 1 in Nasdaq

Net new 52 wk highs were leading by 248 in NYSE & 280 in Nasdaq

VIX Down 1.39% @ 20.57

Oil @ $45.34

Gold @ $1780.90

Canadian $ @ .7016

In my portfolio :

Sold JWN $25.50

Sold RIDE $24.76

Bought MGM @ $27.70

Added 40% CCL @ $20.49

Portfolio AAL APA CCL CNX MGM SU

Stocks which were UP 1% or more included MRVL AG GOLD

RXT INTC QRVO DADA DOCU ZI PLAN SHOP KL ROKU 

ZM CRWD DDOG NVAX LITE UPS MRNA AAPL QCOM

XLNX LULU NVDA AEM CRUS OLED AMD SWKS MSTR

ACB.....

AH Futures UP

AH Asian Markets UP

AH Oil Down

AH Gold UP

About market, TAPE was digesting huge gains in restart stocks despite MRNA vaccine news of quick availability. Most technology stocks did well and Nasdaq was green until last hour of trading. These bouts of sharp pullbacks must be viewed in terms of how much energy stocks gained in November alone about 50%, so after today's sharp pullback, it is still UP a whopping 42% minimum. Please do not react or change your thesis on restart stocks, they have only started and may recoup today's loss in short order.

BLOG does NOT give buy or sell.

Saleem

US stock market rally continues.....

 Every so often, stock market goes in a direction which surprises all players, short and long term.

With COVID-19 raging on all over the world again, with another shutdown in many parts of USA and around the world....

World economy struggling to get going due to Corona Virus repeat disruptions, you would expect world stock market to hit new lows IF not all time lows.....

BUT BUT NOW VACCINES are ready to rollout starting in few days......

SO surprisingly US & World stock markets are staging the-biggest bull run which we have seen since 1999.....

Some are equating to US rally in 1987......which I remember very well....because it crashed later in October...

Based on current environment where US election is finally put to bed with all the " theatrics played out with knockout in courts 0/34 "

COVID-19 probably has seen the peak or close to it....

Stock market is looking ahead six months to " happy days "

That means no shutdown, no disruptions....

Disney parks around the world will be packed....

Airlines may do " overbooking again "

Cruise lines sailing " loveboats "

Hotels packed..

Oil hitting $60 per barrel.....

Yes it is June 2021 probable scenario.....

Then the stock market is justified in making series of more new all time highs

BUT....make sure your weighting reflecting new reality of major bull moves in deeply discounted " economy to open stocks "

Rotation may happen on a daily basis, but UP moves may be exaggerated in travel / recreation stocks.

NOW back to RSI....

IF we are in a super bull market then overbought moves UP to 80 RSI not 70 and may push UP to 90 area before it tries to digest its gains for few days......

Please try to understand that RSI numbers reflects " current trading environment " old 70 / 30 may not be in play....

Currently highest RSI is in Russel 2000 / IWM / small caps @ 73.77 followed by Solar stocks TAN @ 73.56....that may be an entry point....

My favorite and heavily weighted XLE / energy stocks are lowly 68.33 BUT it has moved UP 50% in November alone thus a very strong buy...

But IF you want to play " DOG of RSI " it is Gold GLD sitting @ 28.62......need I say any more...

SO in conclusion, these are interesting times as to which sector is " running away NOW "....do not look too much in "rear view".....

Good luck with your own conclusions but please adjust your weighting and exposure.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .13% to .92%....NICE!!!!

 Indices closed UP. In a 3.5 trading days, it was a good week for the bulls despite 2nd wave COVID-19 in USA and around the world. Bull market sometimes looks 6 months out when it will be spring when Corona Virus may be a minor news with vaccination being major focus not infection.

S&P 500 @ 3638.35, high 3644.31, low 3629.33

RSI @ 63.75

CMF @ 0.088

Internals were :

UP volume led by .79 to 1 in NYSE & 3.92 to 1 in Nasdaq

Advancing stocks led by 1.36 to 1 in NYSE & 1.73 to 1 in Nasdaq

Net new 52 wk highs were leading by 328 in NYSE & 284 in Nasdaq

VIX Down 1.93% @ 20.84

Oil @ $45.34

Gold @ $1788.10

Canadian $ @ .7006

Stocks which were UP 1% or more included CCL

BIDU SNAP PINS MRVL DKNG GAN SNOW

CSIQ JKS QRVO PENN DOCU ZI CNQ SHOP

KL CGC TLRY DDOG PDD NVAX SEDG 

XLNX LULU BZUN TWLO TSLA LRCX

NTNX AMAT MOMO MRNA OSTK 

TSM CMG X TLRY.....

Here is my portfolio weighting :

SU            31.48%

AAL         24.52%

CNX        16.93%

JWN         9.22%

APA          8.87%

CCL         6.69%

RIDE       2.29%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 3629.65, low 3617.76, high 3635.50

RSI @ 62.98

CMF @ 0.095

Internals were :

Down volume led by 1.28 to 1 in NYSE & .65 to 1 in Nasdaq

Declining stocks led by 1.24 to 1 in NYSE & 1.01 to 1 in Nasdaq

Net new 52 wk highs were leading by 239 in NYSE & 189 in Nasdaq

VIX Down 1.80% @ 21.25

Oil @ $45.71

Gold @ $1805.50

Canadian $ .7001

In my portfolio in AH :

Bought JWN @ $27.50

Bought CCL @ $20.78

Portfolio AAL APA CCL CNX RIDE JWN SU

Stocks which were UP 2% or more included CCL JWN

SNAP TWTR PINS DKNG SNOW JKS CSIQ FSLR

SEDG ENPH DADA DOCU PLAN SHOP TOL ZM 

ESTC DDOG NVAX MRNA NCLH DHI LULU

NVDA TWLO AMZN YY SQ OSTK MSTR .....

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE was back to @ home plays as New York hit highest level in infection / hospitalization in 2nd wave. Nasdaq was green while other Indices took a day off and closed red. World markets are open including Toronto. Enjoy your Thanksgiving dinner with family or friends.

BLOG does NOT give buy or sell.

Saleem

    

Indices closed UP 1.31% to 1.62%....NICE !!!!

 Indices closed UP.

S&P 500 @ 3635.41, high 3642.31, low 3594.52

RSI @ 63.78

CMF @ 0.025

Internals were :

UP volume led by 4.36 to 1 in NYSE & 2.08 to 1 in Nasdaq

Advancing stocks led by 3.16 to 1 in NYSE & 2.08 to 1 in Nasdaq

Net new 52 wk highs were leading by 484 in NYSE & 344 in Nasdaq

VIX Down 4.50% @ 21.64

Oil @ $44.91

Gold @ $1804.60

Canadian $ @ .6967

In my portfolio :

SOLD MGM @ $27.50

SOLD CCL @ $20.22

BOUGHT CNX @ $9.78

Portfolio AAL APA CNX RIDE SU

Stocks which were UP 5% or more included AAL APA CCL MGM

FCX CIIC NKLA PLAN CGC DAL CVX EAT TSLA UAL OXY

WYNN MS X TLRY ACB.....

AH Futures UP

AH Asian Markets UP

AH Oil & Gold UP

About market, TAPE was strong and made history making DOW 30,000 first time ever and closed above it. Records in Russell 2000 also made it to new all time closing high. It was a banner day for soon to open sectors like Airlines, Cruise lines, casino's and high flying Oils, its not rotation any more, it is new trend in stock market. VIX is flashing caution near its trading low.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .22% to 1.12%....NICE!!!!

 Indices closed UP.

S&P 500 @ 3577.59, high 3589.81, low 3552.77

RSI @ 58.93

CMF @ -0.051

Internals were :

UP volume led by 4.34 to 1 in NYSE & 2.67 to 1 in Nasdaq

Advancing stocks led by 2.93 to 1 in NYSE & 1.95 to 1 in Nasdaq

Net new 52 wk highs were leading by 338 in NYSE & 278 in Nasdaq

VIX Down 4.39% @ 22.66

Oil @ $43.06

Gold @ $1837.80

Canadian $ @ .6899

Portfolio AAL APA CCL RIDE MGM SU

Stocks which were UP 4% or more included AAL APA CCL RIDE SU

NKLA NIO JKS MU SQ CNQ ROKU CGC DAL MTCH NVAX 

CVX KRA NCLH BA BYND TSLA YY OXY SLB AMAT

CIIC MS OSTK X M .....

AH Futures UP

AH Asian Markets UP

AH Oil UP

AH Gold Down

About market, TAPE was strong on further progress in Vaccine by Oxford AZA which has cure rate of 70% to 90% which can be stored in Fridge. Nasdaq lagged while Oil, Cruise lines, Airlines, EV were major beneficiary. After hours " transition is on " thus another " irritant " is out of the way. Expect another good day in markets.

BLOG does NOT give buy or sell.

Saleem