Indices closed down .59% to 2.45%.....

 Indices closed down as we went further down in all indices as fear of rising COVID-19 took hold. By close we closed slightly above low of the day which may be the best technical indicator we can count on, not closing @ or near low of the day.

S&P 500 @ 3269.96, low 3233.94, high 3304.93

RSI @ 37.05

CMF @ -0.059

Internals were :

Down volume led by 1.35 to 1 in NYSE & 2.15 to 1 in Nasdaq

Declining stocks led by 1.83 to 1 in NYSE & 2.65 to 1 in Nasdaq

Net new 52 wk lows were leading by 55 in NYSE & 80 in Nasdaq

VIX UP 1.14% @ 38.02

Oil @ $35.79

Gold @ $1789.90

Canadian $ @ .6663

Stocks which closed UP 1% or more included AAL APA CCL AG

IBM IAG GOLD AUY CNQ CIEN CVX NCLH GOOG SLB...

Here is my portfolio weighting :

MGM         31.21%

SU            19.30%

AAL          17.30%

CCL         13.06%

RUN          7.56%

AG            6.62%

APA          4.95%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .52% to 1.64%....NICE!!!!

 Indices closed UP.

S&P 500 @ 3310.11, high 3341.05, low 3259.82

RSI @ 40.23

CMF @ -0.057

Internals were :

UP volume led by 2.44 to 1 in NYSE & 1.91 to 1 in Nasdaq

Advancing stocks led by 1.88 to 1 in NYSE & 1.90 to 1 in Nasdaq

Net new 52 wk lows were leading by 67 in NYSE & 47 in Nasdaq

VIX Down 6.68% @ 37.59

Oil @ $36.17

Gold @ $1868.00

Canadian $ @ .6629

Portfolio AAL APA CCL AG MGM RUN SU

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

NIO NVAX KRA HUYA TWTR X ACB TLRY.....

AH Futures Down

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE started lower then found support and turned UP. Indices closed near high of the day. Internals were mostly positive. AH earnings reaction were mostly negative except GOOG. Futures are lower, hopefully Friday may bring some buying by close.

BLOG does NOT give buy or sell.

Saleem

Indices closed down 3.43% to 3.73%....

 Indices closed down.

S&P 500 @ 3271.03, low 3268.89, high 3342.48

RSI @ 35.21

CMF @ -0.066

Internals were :

Down volume led by 8.47 to 1 in NYSE & 2.56 to 1 in Nasdaq

Declining stocks led by 10.05 to 1 in NYSE & 6.17 to 1 in Nasdaq

Net new 52 wk lows were leading by 97 in NYSE & 113 in Nasdaq

VIX UP 20.78% @ 40.28

Oil @ $37.39

Gold @ $1789.20

Canadian $ @ .6676

Portfolio AAL APA CCL AG MGM RUN SU

Stocks which closed green included RUN

SPWR JKS ENPH SEDG FSLR SNOW

DADA SNAP ERI PHM IQ TWLO...

AH Futures UP

AH Asian Markets Down

AH Oil & Gold UP

About market, TAPE was in shock when Trump announced that Pandemic is under control and he single handedly did it, so we slumped almost 1000 DOW points and closed @ low of the day. On COVID-19 there is steady news flow of progress in vaccine process. Market was reacting to worldwide concern about shutdown impact on Economic picture, thus a sharp worldwide selloff.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 3390.68, low 3388.71, high 3409.51

RSI @ 46.24

CMF @ -0.010

Internals were :

Down volume led by 2.78 to 1 in NYSE & 1.03 to 1 in Nasdaq

Declining stocks led by 1.94 to 1 in NYSE & 1.55 to 1 in Nasdaq

Net new 52 wk highs were leading by 5 in NYSE & lows by 24 in Nasdaq

VIX UP 2.74% @ 33.35

Oil @ $39.57

Gold @ $1911.90

Canadian $ @ .6839

Portfolio AAL APA CCL AG MGM RUN SU

Stocks which closed green included AG

IAG FCX MRVL SNOW GOLD SQ

MSFT NKLA CLDR TWTR SNAP 

AUY NIO NEM DOCU ZI SHOP

KL ROKU ERI MTCH ZM ESTC 

DDOG PDD JD PINS NVAX AAPL

BIDU IQ HUYA MOMO BZUN

NVDA FB TSLA AEM AMZN

BABA OSTK X....

AH Futures Down

AH Asian Markets Down

AH Oil & Gold Down

About market, TAPE opened higher then closed near low of the day. COVID-19 seems to be out of control in many parts of the world including Canada. Market is trying to discount the enormity of Corona and also trying to handicap US election, thus a very uncertain picture, market hates uncertainty. Keep your faith and be opportunistic in switching or buying.

BLOG does NOT give buy or sell.

Saleem

Indices closed down 1.64% to 2.29%.....

 Indices closed down.

S&P 500 @ 3400.97, low 3364.86, high 3441.42

RSI @ 47.43

CMF @ 0.012

Internals were :

Down volume led by 8.68 to 1 in NYSE & 2.46 to 1 in Nasdaq

Declining stocks led by 6.23 to 1 in NYSE & 4.55 to 1 in Nasdaq

Net new 52 wk lows were leading by 39 in NYSE & 22 in Nasdaq

VIX UP 17.82% @ 32.46

Oil @ $38.56

Gold @ $1905.70

Canadian $ @ .6781

Portfolio AAL APA CCL AG MGM RUN SU

Stocks which closed green included RUN

JKS ENPH AMD DSS DOCU SHOP

ERI ZM JD AEM AMZN YY....

AH Futures UP

AH Asian Markets Down

AH Oil & Gold UP

About market, TAPE took a COVID-19 dip on record infection around the world. This pullback took DOW almost 1000 points down but closed down 650 area. This was a classic " fear on the street " with internals were negative big time. It is wise to keep faith in your thesis of being invested. Turnaround Tuesday is coming.

BLOG does NOT give buy or sell.

Saleem

Rotation taking hold in US stock market.....

 It took a long time BUT rotation is evident to even the-most skeptics.

Here are RSI numbers :

XLE           46.32

GLD          48.11

DOW         53.83

Nasdaq     54.96

S&P 500  55.75

SOX         56.73

TAN         57.28

IWM        62.72  

JETS       64.66 

I am sure some of you are surprised that Airlines ( JETS ) is the strongest sector, this is not suppose to happen IF you ask any Technician / Fundamental analysts and are not positioned with any exposure, guess what can happen NOW.....

Small cap ( IWM ) is 2nd strongest group in entire market, again not suppose to happen ....

TAN ( Solar ) is the 3rd strongest group even after recent severe pullback.....

XLE & GLD are the dog of this market still....have a strong belief that more merger will take place that will boost XLE sector in short order.

IF this picture is not clear to anyone still, please pay attention to this RSI table...thou shall see the light..

Market exposure needs to reflect changing rotation.

YES technology and other favorite sectors should do well BUT not @ the pace as before, there is outflow from stay home to travel sector in a big way.

Market was bogged down by stimulus on  / off tussle....

Election and its theatrics are in final stretch, winners are easily predictable, the-big one should be a landslide.....silent majority have spoken in the polls......

SO...stay diversified with reverse weighting than before, thou should do well in $$$$ arena.

Good luck with your own thesis about COVID-19, vaccine, stimulus and election, but all that may getting in rear view mirror.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed.....

 Indices closed mixed where DOW lost slightly while Nasdaq & S&P 500 closed green. News on vaccine front is encouraging on a daily basis by many drug firms.US election is winding down where debate was conducted in a respectful manner.

S&P 500 @ 3465.39, high 3466.46, low 3440.45

RSI @ 55.75

CMF @ 0.031

Internals were :

UP volume led by 1.54 to 1 in NYSE & 1.34 to 1 in Nasdaq

Advancing stocks led by 1.74 to 1 in NYSE & 1.63 to 1 in Nasdaq

Net new 52 wk highs were leading by 52 in NYSE & 46 in Nasdaq

VIX down 1.99% @ 27.55

Oil @ $39.85

Gold @ $1905.20

Canadian $ @ .6849

Stocks which were UP 1% or more included CCL MGM SU

SPWR CSIQ FSLR LYFT NXPI SNAP AMD DOCU PLAN

SHOP TOL MTCH KBH ELF TER NCLH DHI PHM VICR

HUYA MOMO XLNX LULU BZUN NVDA FB UAL YY

BABA GOOG LVS CMG X M.....

In my portfolio Added 60% RUN @ $56.00

Here is my portfolio weighting :

MGM        31.77%

SU           19.21%

AAL         17.31%

CCL        13.11%

RUN         7.29%

AG           6.35%

APA         4.96%

Next post by 6 PM on Sunday

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .19% to .54%...NICE!!!!

 Indices closed UP.

S&P 500 @ 3453.49, high 3460.53, low 3415.34

RSI @ 54.38

CMF @ 0.025

Internals were :

UP volume led by 3.74 to 1 in NYSE & 2.12 to 1 in Nasdaq

Advancing stocks led by 1.90 to 1 in NYSE & 1.72 to 1 in Nasdaq

Net new 52 wk highs were leading by 27 in NYSE & 26 in Nasdaq

VIX Down 1.88% @ 28.11

Oil @ $ 40.64

Gold @ $1904.60

Canadian $ @ .6865

Portfolio AAL APA CCL AG MGM RUN SU

Stocks which were UP 3% or more included

AAL APA CCL MGM SU

FCX DKNG GAN LYFT SNAP CNX CGC

DAL UBER CVX MRNA NCLH BA SPLK

EXPE OLED OXY WYNN LVS OSTK X M...

AH Futures Mixed

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, TAPE was under selling pressure from open despite better jobless claims. Indices tested support around 50 DMA area and reversed and closed near high of the day, technically V reversal. Internals were all positive. Energy stocks were leading performer along with travel, gaming stocks. It was a day when most sectors participated with rotation in major focus.

BLOG does NOT give buy or sell.

Saleem

Indices closed Down .22% to .35%.....

 Indices closed down.

S&P 500 @ 3435.56, low 3433.06, high 3464.86

RSI @ 52.31

CMF @ -0.007

Internals were :

Down volume led by 1.62 to 1 in NYSE & 1.17 to 1 in Nasdaq

Declining stocks led by 1.87 to 1 in NYSE & 1.68 to 1 in Nasdaq

Net new 52 wk highs were leading by 47 in NYSE & 28 in Nasdaq

VIX Down 2.39% @ 28.65

Oil @ $40.03

Gold @ $1929.50

Canadian $ @ .6865

Portfolio AAL APA CCL AG MGM RUN SU

Stocks which closed green included AG

IAG FCX SNOW GOLD AEM NEM 

NKLA NXPI TWTR DADA SNAP

AUY GOOS ROKU CGC ERI

MTCH PDD PINS TER BIDU

NKE IQ BZUN FB LRCX 

GOOG NTNX FEYE MA

CMG V X.....

AH Futures Down

AH Asian Markets Down

AH Oil & Gold Down

About market, TAPE did its usual pattern, opened higher closed down & @ low of the day. Stimulus, 2nd wave of COVID-19 & election were known culprit. All major indices are still above 50 DMA but may breach tomorrow. Caution remains the buzzword. Solar stocks took it on the chin today based on potential policy changes on imports of solar panels from China.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .33% to .47%....NICE !!!!

Indices closed UP.

S&P 500 @ 3443.12, high 3476.93, low 3435.65

RSI @ 53.25

CMF @ -0.018

Internals were : 

UP volume led by 2.76 to 1 in NYSE & 1.11 to 1 in Nasdaq

Advancing stocks led by 2.13 to 1 in NYSE & 1.16 to 1 in Nasdaq

Net new 52 wk highs were leading by 80 in NYSE & 45 in Nasdaq

VIX UP .58% @ 29.35

Oil $41.70

Gold @ $1915.40

Canadian $ @ .6877

Portfolio AAL APA CCL AG MGM RUN SU

Stocks which were UP 2% or more AAL APA CCL AG MGM 

FCX JKS CSIQ SNOW LYFT CNX UBER PDD JD NCLH 

LSCC BZUN OXY SLB WYNN LVS M.....

AH Futures UP

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, TAPE starting strong but faded by close and closed near low of the day, internals were also on the weak side with mixed picture. VIX closed UP near recent highs, not a technically strong or desirable action. Next 2 weeks expected to be sloppy due to US election and rising 2nd wave of COVID-19. How we close matters now so keep an eye and adjust accordingly.

BLOG does NOT give buy or sell.

Saleem

Indices closed down 1.44% to 1.65%....

 Indices closed down.

S&P 500 @ 3426.92, low 3419.93, high 3502.42

RSI @ 51.51

CMF @ 0.055

Internals were :

Down volume led by 3.10 to 1 in NYSE & 1.13 to 1 in Nasdaq

Declining stocks led by 2.67 to 1 in NYSE & 2.24 to 1 in Nasdaq

Net new 52 wk highs were leading by 96 in NYSE & 91 in Nasdaq

VIX UP 6.46% @ 29.18

Oil @ $40.83

Gold @ $1911.70

Canadian $ @ .6840

Portfolio AAL APA CCL AG MGM RUN SU

Stocks which closed green included AAL CCL

SPWR DKNG JKS BB SNOW CSIQ JKS MU

SQ ZI SHOP CGC ERI MTCH NTAP UBER

PINS KRA NCLH HUYA BZUN TWLO UAL

SNAP TSM TLRY ACB .....

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE opened higher and then went straight down close to 50 DMA where major support exist. This type of action will be normal and what is expected until election is finalized. Be extremely opportunistic which means buy on weak day and sell on strong open repeatedly. Do not get greedy now, there will be a time after election when being greedy may pay off.

BLOG does NOT give buy or sell.

Saleem

US stock market to be impacted by election, 2nd wave & vaccine....

 US stock market may face many cross current in next few weeks....

Election which is heading in one direction only which is a change in white house residency.

BUT outgoing President will come up with many theatrics as possible which is being taken as entertainment only...no substance no impact all noise.....

2nd wave of CIVID-19 is a much more serious issue, it is going to create more pain, suffering and deaths to many all over the world.

Vaccine may counter 2nd wave to some extent, hope is eternal.....

Vaccine has to go through approval funding and impact will be monitored closely worldwide, there is great optimism that by end of this year, we may have vaccine available .

Market sentiment will remain challenging going into election and after election until results are final.

Stocks may gyrate according to news of the day.

NOW the question is ....what to do when it comes to allocation / exposure....an adjustment is required to lesser exposure than before, a 20% reduction is enough to reduce vulnerability...

Allocation needs to be where your own research and comfort level lies....

Currently, Small cap is doing extremely well which has become part of new rotation.

SOX is very strong also....

TAN is doing well

XLE is trying to make a base here...

GLD is weakest among all groups I follow.

50 DMA needs to be monitored as most major indices are near that critical level....

All in all, next few weeks is not business as usual, it remains very challenging.

Good luck with your own take on US politics / results and your comfort level.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed after jumping 350 area in DOW on optimism about vaccines available in November. Election jitters going to take hold thus sideways to down action like today @ close.

S&P 500 @ 3483.81, high 3515.76, low 3480.45

RSI @ 58.64

CMF @ 0.148

Internals were :

Down volume led by .99 to 1 in NYSE & 1.19 to 1 in Nasdaq

Declining stocks led by 1.29 to 1 in NYSE & 1.07 to 1 in Nasdaq

Net new 52 wk highs were leading by 141 in NYSE & 94 in Nasdaq

VIX UP 1.63% @ 27.41

Oil @ $40.88

Gold @ $1906.40

Canadian $ @ .6799

In my portfolio Sold IAG @ $3.93

Stocks which closed 1% or above included AAL

JKS FSLR DADA PENN NIO PLAN ZM JD

PDD KRA MOMO BABA ULTA X....

Here is my portfolio weighting :

MGM          31.46%

SU              19.82%

AAL           18.64%

CCL          13.09%

AG              6.62% 

APA            5.46%

RUN          4.91%

Next post by 6 PM on Sunday

BLOG does NOT give buy or sell.

Saleem

Indices closed down .07% to .47%.....

Indices closed down.

S&P 500 @ 3483.34, low 3440.89, high 3489.08

RSI @ 58.60

CMF @ 0.161

Internals were :

UP volume led by 1.59 to 1 in NYSE & 1.03 to 1 in Nasdaq

Advancing stocks led by 1.09 to 1 in NYSE & 1.18 to 1in Nasdaq

Net new 52 wk highs were leading by 58 in NYSE & 29 in Nasdaq

VIX UP 2.16% @ 26.97

Oil @ $40.96

Gold @ $1908.90

Canadian $ @ .6753

Portfolio AAL APA CCL AG IAG MGM RUN SU

Stocks which were UP 1% or more included APA RUN

FCX DADA SNAP PENN NIO DOCU ZI CNX ZM

MTCH KBH EAT KRA PHM NKE VICR LSCC 

YY OXY SLB LNG WYNN LVS MS CMG X M...

AH Futures UP

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, TAPE was in a deep slump @ open due to rising 2nd wave COVID-19 all over the world but late afternoon buyers came in and took it to green in DOW but closed slightly red. Internals were negative by 10 to 1 a level seen as deeply fear driven and taken as contrary indicator and V reversal takes place. Today's TAPE was much more normal &  balanced after a long time where many sectors participated in closing green, sign of rotation becoming normal.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .58% to .80%....

 Indices closed down.

S&P 500 @ 3488.67, low 3480.55, high 3527.94

RSI @ 59.26

CMF @ 0.139

Internals were :

Down volume led by 1.28 to 1 in NYSE & 1.04 to 1 in Nasdaq

Declining stocks led by 1.52 to 1 in NYSE & 2.01 to 1 in Nasdaq

Net new 52 wk highs were leading by 117 in NYSE & 133 in Nasdaq

VIX UP 1.27% @ 26.40

Oil @ $41.04

Gold @ $1907.30

Canadian $ .6849

Portfolio AAL APA CCL AG IAG MGM RUN SU

Stocks which were UP 1% or more included AAL AG

SPWR JKS CSIQ ENPH SEDG LYFT SNAP NIO

CNQ EAT BIDU QCOM TSLA AEM SLB....

AH Futures Down

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE was under mild selling pressure as stimulus negotiators could not get anything going forward, same old same old. AH FSLY took the rug under stay home stocks by plunging 26% + plus another 4%+ loss during regular trading hour, adding up to a loss of 31% in few hours, other stocks were showing big losses AH. It is important not to get too greedy in a euphoria. IF you have gains book it please.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .10% to .63%.....

 Indices closed down.

S&P 500 @ 3511.93, low 3500.86, high 3534.01

RSI @ 62.12

CMF @ 0.111

Internals were :

Down volume led by 3.19 to 1 in NYSE & 1.17 to 1 in Nasdaq

Declining stocks led by 2.00 to 1 in NYSE & 1.49 to 1 in Nasdaq

Net new 52 wk highs were leading by 142 in NYSE & 130 in Nasdaq

VIX UP 3.99% @ 26.07

Oil @ $40.20

Gold @ $1894.60

Canadian $ @ .6858

In my portfolio Sold GAN @ $17.65

Portfolio AAL APA CCL AG IAG MGM RUN SU

Stocks which were UP 2% or more included RUN

JKA CSIQ FSLR BB MU SQ PENN DOCU ZI

ROKU ZM CRWD DDOG ENPH NVAX MRNA

LULU TWLO NFLX CLVS OSTK CMG....

AH Futures UP

AH Asian Markets Down

AH Oil & Gold Down

About market, TAPE closed near low of the day as Lily suspended trial for COVID-19 treatment thus resulting in @ home stocks soaring and travel stocks went down. Market remains healthy and should pick up its pace on Wednesday, expecting a positive close. Remain diversified and try to book profit in extended stocks, check RSI in all your stocks, leave last $ for someone else to take risk.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .88% to 2.56%....NICE!!!

 Indices closed UP.

S&P 500 @ 3534.22, high 3549.85, low 3499.61

RSI @ 64.90

CMF @ 0.116

Internals were :

UP volume led by 1.65 to 1 in NYSE & 2.30 to 1 in Nasdaq

Advancing stocks led by 1.78 to 1 in NYSE & 1.58 to 1 in Nasdaq

Net new 52 wk highs were leading by 237 in NYSE & 226 in Nasdaq

VIX UP .28% @ 25.07

Oil @ $39.43

Gold @ $1928.90

Canadian $ @ .6877

Portfolio AAL APA CCL AG GAN IAG MGM RUN SU

Stocks which were UP 1% or more included IAG 

DKNG SNOW MU RXT INTC MSFT CLDR

TWTR DADA AMD NIO DOCU CNX CGC

CRWD ESTC NTAP KBH PDD JD AAPL

LSCC ASML BZUN NVDA TSM TWLO 

FB TSLA LRCX AMZN AMAT BABA 

WYNN MS ULTA SWKS.....

AH Futures Down

AH Asian Markets UP

AH Oil & Gold Down

About market, TAPE was strong and closed near high of the day. Technology stocks were the strongest while other sectors also participated including Financials. Solar stocks took beating on some regulatory loophole which may be eliminated. Tuesday could be interesting in terms of sector rotation as Banks are reporting before open.

BLOG does NOT give buy or sell.

Saleem

Stimulus stalemate may kill momentum in US stock market....

 Stimulus talks are no further ahead than 3 weeks ago.....

$2.2 trillion vs $1.8 trillion is being thrown around with no conviction then comes a talk of bigger than $2.2 trillion....little kids trying to talk each other out with words only...NO action....

Stock market is showing lot of traction despite daily contradiction on Stimulus status....my take going nowhere " stuck in mud spinning wheels "

SOX is showing great strength with pre announcements, mergers and good earning momentum, so SOX is @ new all time high based on Friday's closing numbers of 2398.40...

TAN made a new high on Wednesday with highest RSI number of 85.39

SOX RSI is @ measly 66.57...so much more room to run....more bids coming in this sector, market will keep playing who is next and @ what price takeover of XLNX  by AMD...

Russell 2000 / IWM is only 3.56% away from making new all time high, when small cap is the best performing sector for last week, then you know technology is going much much higher and it may take other indices higher for the ride.

As far as S&P 500, DOW & Nasdaq are concerned, they have taken a back seat to small cap and took a well deserved rest / basing time.

RSI for Nasdaq 60.00, S&P 500 60.72, DOW 61.16

Interesting that DOW is doing better than Nasdaq & S&P 500 due to " rotation "

Energy remains the biggest laggard with RSI @ 44.21, they say " longer the base .......

Airlines are also behaving much better with RSI @ 57.42 for JETS

Gold is behind Airlines with RSI @ 54.51

SO....RSI numbers are proving one thing only that rotation has taken hold with TAN as leader followed by small cap with SOX showing real strength......

YES Cloud stocks are also streaming ahead as most in demand due to additional need for capacity & monitoring of home based security needs.

Let the politicians spoil the party, but momentum is building UP and may recover from every negative tweets from either side.....

Stay engaged with this rotation based stock market with opportunistic trade, $$$ keeps coming as long as as you are diversified....

Good luck with your own thesis about this market and your own comfort level.

We have only last 10 working weeks left in this year trading, look @ your own portfolio IF it needs tweaking...this year will go down in history as easiest to make money......maybe.....

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .57% to 1.39%....NICE!!!!

 Indices closed near high of the day on hope of stimulus deal. Many sectors participated in this rally but Gold, Silver, Solar, Technology were strong.

S&P 500 @ 3477.13, high 3482.34, low 3458.07

RSI 60.72

CMF @ 0.099

Internals were :

UP volume led by 1.08 to 1 in NYSE & 2.00 to 1 in Nasdaq

Advancing stocks led by 1.30 to 1 in NYSE & 1.43 to 1 in Nasdaq

Net new 52 wk highs were leading by 238 in NYSE & 182 in Nasdaq

VIX Down 5.16% @ 25.00

Oil @ $40.60

Gold @ $1926.20

Canadian $ @ .6877

In my portfolio bought IAG @ $4.03

Stocks which were UP 4% or more included AG IAG

MRVL CSIQ JKS SEDG NXPI AUY KL DDOG

PDD TER LSCC XLNX AEM ....

Here is my portfolio weighting :

MGM           28.22%

SU              19.57%

AAL            18.00%

CCL           13.30%

AG               6.07%

APA             5.14%

RUN           5.13%

GAN           2.09%

IAG            1.88%

Next post by 6 PM on Sunday

BLOG does NOT give buy or sell

Saleem

   

Indices closed UP .43% to .80%....NICE!!!

 Indices closed UP.

S&P 500 @ 3446.83, high 3447.28, low 3428.15

RSI @ 58.27

CMF @ 0.075

Internals were :

UP volume led by 6.32 to 1 in NYSE & 1.57 to 1 in Nasdaq

Advancing stocks led by 3.50 to 1 in NYSE & 2.04 to 1 in Nasdaq

Net new 52 wk highs were leading by 181 in NYSE & 153 in Nasdaq

VIX Down 6.06% @ 26.36

Oil @ $41.19

Gold @ $1895.10

Canadian $ .6772

In my portfolio Bought RUN @ $71.40

Portfolio AAL APA CCL AG GAN MGMRUN SU

Stocks which were UP 5% or more included APA SU

AUY ROKU CGC CRON APHA KRA OXY NTNX

IBM M TLRY....

AH Futures UP

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, TAPE did a usual yoyo based on state of stimulus deal or no deal, but market ignored all the noise on stimulus talk and made their own prediction that one way or the other there will be a deal. AH news is Stimulus talk is back on for a " complete comprehensive package " Futures shot UP after hour on this new " ON" stimulus talk. Internals are all positive while Russell 2000 is performing the-best.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 1.74% to 1.91%....NICE!!!!

 Indices closed UP.

S&P 500 @ 3419.44, high 3426.26, low 3384.56

RSI @ 55.96

CMF @ -0.007

Internals were :

UP volume led by 4.73 to 1 in NYSE & 4.97 to 1 in Nasdaq

Advancing stocks led by 2.79 to 1 in NYSE & 3.33 to 1 in Nasdaq

Net new 52 wk highs were leading by 152 in NYSE & 128 in Nasdaq

VIX Down 4.82% @ 28.06

Oil @ $39.95

Gold @ $1890.80

Canadian $ @ .6713

In my portfolio in late After hour trading;

Sold SPWR @ $17.74

Sold FCX @ $17.06

Portfolio AAL APA CCL AG GAN MGM SU

Stocks which were UP 4% or more included AAL CCL SPWR FCX

JKS CSIQ NKLA NIO CNX ENPH SEDG EAT KRA NCLH LSCC 

BYND TSM UAL FSLR NFLX MGA OSTK X CGC....

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE got a boost from another tweet saying they will do 3 areas of stimulus where there is common ground, market took off and closed near high of the day. Most sectors participated in today's rally, best performance came from select Solar, Copper & Steels stocks. Internals were strong. There was more strength AH in some of my stocks thus an opportunistic sale.

BLOG does NOT give buy or sell.

Saleem

Indices closed down 1.34% to 1.57%....

 Indices closed down.

S&P 500 @ 3360.97, low 3354.54, high 3431.56

RSI @ 50.55

CMF @ -0.029

Internals were :

Down volume led by 2.71 to 1 in NYSE & 1.03 to 1 in Nasdaq

Declining stocks led by 1.55 to 1 in NYSE & 1.35 to 1 in Nasdaq

Net new 52 wk highs were leading by 148 in NYSE & 111 in Nasdaq

VIX UP 5.44% @ 29.48

Oil @ $40.67

Gold @ $1908.80

Canadian $ @ .6718

In my portfolio bought SPWR @ $15.45

Portfolio AAL APA CCL AG FCX MGM SPWR SU

Stocks which closed green included CCL SPWR 

MRVL CSIQ CNQ ROKU ERI MTCH CRWD 

ESTC ENPH PDD JD KRA ELF NCLH IQ

BYND NVDA TWLO SPLK FSLR BABA

OLED WYNN LVS CMG......

AH Futures Mixed

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE was doing OK with DOW being strong and Nasdaq dipping in red then green, then came the famous tweet " stimulus negotiations cancelled until election "...instantly DOW went down 400+ points and similar damage in all indices. Looks like another strategy to get a better deal from Democrats.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 1.68% to 2.32%....NICE!!!!

 Indices closed UP.

S&P 500 @ 3408.80, high 3409.57, low 3367.27

RSI @ 55.73

CMF @ -0.041

Internals were :

UP volume led by 4.48 to 1 in NYSE & 3.84 to 1 in Nasdaq

Advancing stocks led by 3.09 to 1 in NYSE & 3.04 to 1 in Nasdaq

Net new 52 wk highs were leading by 112 in NYSE & 107 in Nasdaq

VIX UP 1.19% @ 27.96

Oil @ $39.22

Gold @ $1920.10

Canadian $ @ .6724

Portfolio AAL APA CCL AG FCX MGM SU

Stocks which were UP 2% or more included AG FCX

JKS CSIQ SPWR FSLR SEDG ENPH MRVL SNOW

QRVO NXPI DOCU ZI GAN SHOP LITE VICR

LSCC BYND NVDA AMD LRCX OXY SLB

SNAP SQ AMAT OSTK.....

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE was strong and closed @ high of the day. Internals were strong. Many sectors participated today. Polls are showing wider lead by democrat. COVID-19 is spreading as 2nd wave and Governors / Mayors are taking steps to contain it. Stay diversified as rotation will take hold.

BLOG does NOT give buy or sell.

Saleem

US stock market faces new challenges....

 Stock market has faced many challenges and was trying to digest and discount all challenges.

Beside election, 2nd wave of COVID-19, now we have another immediate challenge which market faced on Friday.

New challenge is health of US President Donald Trump, reaction to that challenge was sharp but was managed by close.

Friday saw a shift in market where technology took a severe pullback.

Friday also saw rotation into laggard travel related stocks

S&P 500 & Nasdaq is below 50 DMA does not give a healthy technical picture.

Monday could be challenging for US market depending on health update of US President

Question remains how to navigate a very difficult and challenging market going forward

Earnings will take center stage starting from week of 12th November

Earnings should be good for most technology and stay home stocks

Travel related stocks will continue to burn cash and will show substantial losses

Real question is, how much of good or bad earnings are already baked in

It is never easy to make money or predict direction of market in short term

My recommendation is to underweight stay home stocks as they may have overshot already

Contrary play like travel related stocks should be overweight as they may have been pushed down too much

October is a challenging month most of the time

Stay close to news flash and react accordingly

Good luck with your own analysis and comfort level.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .48% to 2.22%.....

 Indices closed down due to health concern for President Donald Trump who tested positive for COVID-19. DOW recovered nicely off the lows but Nasdaq took the brunt of selling by closing slightly above low of the day.

S&P 500 @ 3348.42, low 3323.69, high 3369.10

RSI @ 52.30

CMF @ -0.066

Internals were :

Down volume led by .54 to 1 in NYSE & 1.23 to 1 in Nasdaq

Declining stocks led by .69 to 1 in NYSE & 1.13 to 1 in Nasdaq

Net new 52 wk highs were leading by 44 in NYSE & 18 in Nasdaq

VIX UP 3.48% @ 27.63

Oil @ $37.05

Gold @ $1907.60

Canadian $ @ .6676

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

JKS DKNG KRA TWLO SLB MGA X M.....

Here is my portfolio weighting :

MGM          31.42%

SU             19.64%

AAL           19.06%

CCL          11.47%

FCX          6.89%

AG            5.96%

APA          5.56%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .13% to 1.42%...NICE !!!

 Indices closed UP.

S&P 500 @ 3380.80, high 3397.18, low 3361.39

RSI @ 53.32

CMF @ -0.105

Internals were :

UP volume led by 1.37 to 1 in NYSE & 2.93 to 1 in Nasdaq

Advancing stocks led by 2.16 to 1 in NYSE & 1.99 to 1 in Nasdaq

Net new 52 wk highs were leading by 63 in NYSE & 50 in Nasdaq

VIX UP 1.25% @ 26.70

Oil @ $38.72

Gold @ $1916.30

Canadian $ @ .6706

Portfolio AAL APA CCL AG FCX MGM SU

Stocks which were UP 2% or more included AAL AG 

JKS SPWR CSIQ SEDG NKLA SQ QRVO NXPI

TWTR AMD DKNG SHOP ROKU MTCH TWLO

TSLA NFLX OSTK SWKS.....

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE remained positive despite stimulus roller coaster. Nasdaq stay home stocks, semiconductor plus solar were moving sharply higher into new 52 week highs. Tomorrow its all about jobs creation @ 830 AM, expecting a beat again from tiny 800000 expectations. Stock market is battling many cross currents, I am not sure it means a smooth sailing as our very famous TV pundit making it. Technicians Carter Worth is lost for words these days and not making any logical conclusions, becoming history professor instead of dealing with current TAPE which is very strong.

BLOG does NOT give buy or sell.

Saleem