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

US stock market ready to take off again......

 US stock market was facing issues on many fronts thus went through discounting / digestive mechanism.

Issues were too many, biggest one was record breaking rise in Corona Virus infection, not only in USA but worldwide called 2nd wave or 3rd wave in Europe Australia and Hing Kong, thus traders / investors were taken back by this ongoing waves.

US election results were being challenged  with " creative language " preventing President Elect to access information / funding to get started on their urgent agenda.

Outgoing administration in USA were highlighting Golf Course as priority focus instead of  consoling words for infected.....

BUT TV and anchors are fixated on non-issues to keep ratings going....

Hopefully as we look to this week in markets besides " pardoning the TURKEY " most issues are expected to run its course or find their " natural death "

Market may start to look ahead to January 20th, 2021 to get going in business @ hand...

With time Corona Virus will see " flattening of curve " a term we all have forgotten

Here is a look @ RSI :

IWM        68.30

XLE         65.18

TAN          63.42

XLF         63.06

SOX         61.87

DOW       57.88

S&P 500 57.08

Nasdaq   56.97

GLD      44.37

It is very interesting to note that GLD is last in terms of performance. Nasdaq 2nd last is a shocker.

XLE @ 2nd strongest is an eye opener for many skeptics...

IWM or Russell 2000 or small caps are the-best performing category.

Bottom line is....markets are changing very fast, rotation has happened already.

It is extremely important to keep analyzing RSI for an accurate direction before it hits Barron's or pundits desktops...they all are looking @ 40 indicators and remain very confused.

SO do some homework and get going in a fast shifting market of 2020 and beyond...

Cannot make market posture any more clear than RSI my only and most important indicator!

Good luck with your own conclusion about rotation / shift in market and your own comfort level.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .42% to .75%.....

 Indices closed down on 2nd wave spreading fast worldwide including Canada with lockdown , curfew and other measures to contain Corona Virus, this resulting in indices closing near low of the day, no real damage done to technical picture. Nasdaq internals were positive.

S&P 500 @ 3557.54, low 3556.85, high 3581.23

RSI @ 57.08

CMF @ -0.069

Internals were :

UP volume led by .81 to 1 in NYSE & 1.47 to 1 in Nasdaq

Advancing stocks led by .95 to 1 in NYSE & 1.12 to 1 in Nasdaq

Net new 52 wk highs were leading by 174 in NYSE & 171 in Nasdaq

VIX UP 2.55% @ 23.70

Oil @ $42.42

Gold @ $1872.42

Canadian $ @ .6921

Stocks which closed green included   APA RIDE

FCX SNAP PINS RUN NIO SPWR JKS CSIQ

SQ PANW TWTR DADA ZI SHOP ROKU

ZM ESTC PDD JD SEDG KRA MRNA

BZUN BABA NTNX OSTK TLRY BB..

In my portfolio.. Bought RIDE @ $26.60

Here is my portfolio weighting :

MGM        34.66%

SU            22.91%

CCL         17.83%

AAL        16.73%

APA         5.95%

RIDE      1.86%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .15% to .87%....NICE !!!!

 Indices closed UP.

S&P 500 @ 3581.87, high 3585.22, low 3543.84

RSI @ 60.13

CMF @ 0.006

Internals were :

UP volume led by 2.0 to 1 in NYSE & 5.67 to 1 in Nasdaq

Advancing stocks led by 1.77 to 1 in NYSE & 1.78 to 1 in Nasdaq

Net new 52 wk highs were leading by 107 in NYSE & 115 in Nasdaq

VIX Down 3.06% @ 23.11

Oil @ $41.74

Gold @ $1861.50

Canadian $ @ .6913

Portfolio AAL APA CCL MGM SU

Stocks which were UP 2% or more included APA CCL

NKLA SNAP NIO AMD SPWR DKNG GAN PANW

DADA PENN DOCU SHOP ROKU CRWD ESTC

KBH ENPH PDD SEDG MRNA BYND LULU

BZUN TWLO TSLA FSLR AMAT FFIV YY 

OXY SLB SQ LNG WYNN LVS M....

AH Futures Down

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, TAPE reacted to British treatment for COVID-19 and closed UP. Internals were all positive. California imposed curfew @ night to control surging 2nd wave which may give weak open, good time to buy on weakness. Expecting a positive close.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .82% to 1.16%....

 Indices closed down

S&P 500 @ 3567.79, low 3567.33, high 3619.09

RSI @ 58.95

CMF @ 0.002

Internals were :

Down volume led by 1.92 to 1 in NYSE & .65 to 1 in Nasdaq

Advancing stocks led by 1.52 to 1 in NYSE & 1.55 to 1 in Nasdaq

Net new 52 wk highs were leading by 271 in NYSE & 214 in Nasdaq

VIX UP 4.98% @ 23.84

Oil @ $41.82

Gold @ $1873.90

Canadian $ @ .6945

Portfolio AAL APA CCL MGM SU

Stocks which closed green included MGM SU

RIDE NKLA SNAP PINS MRVL PFE DKNG

GAN SNOW LYFT TWTR PENN GOOS

DOCU PLAN CNQ SHOP TOL DAL ERI

ZM ESTC UBER TD KBH APHA BMO

BYND DHI PHM VICR TSM TSLA UAL

AMAT WYNN CMG M.....

AH Futures Down

AH Asian Markets Down

AH Oil & Gold Down

About market, TAPE opened higher on PFE new and improved data of effectiveness @ 95% matching MRNA, which may be further improved by MRNA?. By close profit taking set in on closure of Schools in NY state due to rising second wave of Corona Virus. Market closed @ low of the day. Internals were mixed which is a good thing.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .21% to .56%....

 Indices closed down.

S&P 500 @ 3609.53, low 3588.68, high 3623.11

RSI @ 64.18

CMF @ 0.018

Internals were :

UP volume led by 1.54 to 1 in NYSE & 1.41 to 1 in Nasdaq

Advancing stocks led by 1.30 to 1 in NYSE & 1.07 to 1 in Nasdaq

Net new 52 wk highs were leading by 231 in NYSE & 162 in Nasdaq

VIX UP 1.16% @ 22.71

Oil @ $41.43

Gold @ $1885.10

Canadian $ @ .6887

Portfolio AAL APA CCL MGM SU

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

PINS RUN NIO SPWR DKNG SNOW CSIQ SQ PANW 

PENN DOCU PLAN CNX ROKU TOL HST CRWD

ESTC DDOG ENPH JD NVAX SEDG NCLH NKE

BA BYND LULU BZUN TWLO TSLA SPLK

FSLR TWLO TSLA SPLK FSLR YY OXY

LNG OSTK M....

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE was under mild selling pressure from open on weak economic data and profit taking. Internals were positive across the board despite negative close. Market is trying to balance cross current of vaccine relate positivity vs ongoing 2nd wave COVID-19. Hopefully soon, there will be a balanced market between stay home and re-opening stocks.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .80% to 1.60%....NICE !!!!

 Indices closed UP.

S&P 500 @ 3626.91, high 3628.51, low 3600.16

RSI @ 66.46

CMF @ -0.17

Internals were :

UP volume led by 6.03 to 1 in NYSE & 2.53 to 1 in Nasdaq

Advancing stocks led by 4.66 to 1 in NYSE & 2.54 to 1 in Nasdaq

Net new 52 wk highs were leading by 325 in NYSE & 222 in Nasdaq

VIX Down 2.81% @ 22.45

Oil @ $41.43

Gold @ $1887.80

Canadian $ @ .6925

Portfolio AAL APA CCL MGM SU

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

FCX MU PANW LYFT CNQ DAL CVX KRA EAT MRNA 

TER NCLH BA IQ TSM UAL OXY SLB YELP LMND

ULTA TSM X M ....

AH Futures Mixed

AH Asian Markets UP

AH Oil UP

AH Gold Down

About market, TAPE was lit up before open when MRNA announced one better than PFE in terms of potency of 95% cure ratio vs a lowly 90%, also storage is more in line with real world situation of easy usage. That caused further move up in most stocks related to former  laggard category of travel and re-open of world economy. Oil stocks have been on fire along with most small caps and are @ new all time highs.

BLOG does NOT give buy or sell.

Saleem

Value stocks revival in US market.....

 Barron's has a banner headline this week " Ways to play a long-awaited value revival " dated November 14th 2020....

Many die hard " buy & hold " strategist are waking up to something very unique taking place....

According to Barron's " Banks Energy Industrials and other economically sensitive groups could be ready to bust out of their long slump "

For the record XLE has already busted out and has gained 25.57% in last 11 trading days.....

Last 11 trading days has seen fierce rotation into laggards / travel / Banks / economic sensitive sectors.

There may be a fierce rotation into energy / travel / laggards starting Monday as Barron's have given stamp of approval.

" Covid Vaccine on the horizon " is the buzzword used by Barron's.......

Like everything else some have and were positioned for vaccine arrival even sooner than much touted April 2021....

Vaccine has become a race of " who is first out and by how much % effectiveness " Do I hear 91% effectiveness?

It is very interesting to see how RSI is looking before Barron's reveal of new and improved idea of investing :

IWM         67.57%

XLF         66.02%

DOW       64.78%

S&P 500 63.57%

XLE        63.30%

SOX       61.43%

Nasdaq 58.00%

GLD     47.57%

Who could have guessed that Nasdaq will be 2nd from bottom only better than worst performing sector Gold.

XLE is doing better than SOX.

XLF is among superstar of all sector Financials are Number 2.....

IWM which is Russell 2000 / small caps is the-best performing index ...rated Number 1.....

SO...much has changed since the popularity of stay home stocks...

Rotation or shift is taking place which could be several years phenomenon....

As the famous song says " we have only just begun "

SO...you have a real RSI numbers so  " I can see clearly now "

Stock markets goes through many theme of popularity as we just witnessed 8 months of non-stop run of " stay home stocks " where most stocks went UP in a straight line several 100% moves....

New theme of economic revival stocks has developed and this could last many times longer than stay home stocks

Writing is on the wall, earlier you rotate in, better off you will be " financially speaking "

Do not be shocked by swift move UP of Oil, Airlines, Cruise lines, Casinos / Gaming & Financials stocks...

Small cap is on fire.....things are a changing furiously....

Good luck with your own analysis and comfort level.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 1.02% to 1.37%....NICE !!!!

 Indices closed UP despite new 193,000 infection cases in USA. There is optimism about vaccine from PFE & MRNA which should be available in days. Indices closed near high of the day. Internals were mostly positive. Re-opening stocks were in heavy demand and moved up sharply.

S&P 500 @ 3585.15, high 3593.66, low 3552.57

RSI @ 63.57

CMF @ -0.100

Internals were :

UP volume led by 5.51 to 1 in NYSE & 2.29 to 1 in Nasdaq

Advancing stocks led by 4.76 to 1 in NYSE & 2.83 to 1 in Nasdaq

Net new 52 wk highs were leading by 85 in NYSE & 97 in Nasdaq

VIX Down 8.88% @ 23.10

Oil @ $40.13

Gold @ $1886.20

Canadian $ @ .6830

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

NKLA GAN CNX DAL HST NTAP PDD JD NVAX KRA NCLH

BA MOMO UAL EXPE OXY SLB AMAT YELP LMND WYNN

LVS ULTA X M.....

Here is my portfolio weighting :

MGM        36.76%

SU            22.25%

CCL         17.66%

AAL         17.56%

APA         5.77%

Next post by 6 PM on Sunday

BLOG does NOT give buy or sell.

Saleem

Indices closed down .65% to 1.08%.....

 Indices closed down.

S&P 500 @ 3537.01, low 3518.58, high 3569.02

RSI @ 59.88

CMF @ -0.159

Internals were :

Down volume led by 3.71 to 1 in NYSE & 1.42 to 1 in Nasdaq

Declining stocks led by 2.95 to 1in NYSE & 2.16 to 1 in Nasdaq

Net new 52 wk highs were leading by 44 in NYSE & 83 in Nasdaq

VIX UP 8.10% @ 25.35

Oil @ $41.12

Gold @ $1873.30

Canadian $ @ .6889

In my portfolio Sold PFE @ $37.55

Portfolio AAL APA CCL MGM SU

Stocks which were UP 1% or more included SNAP PINS

AG NIO GAN DADA AUY DOCU ZI PLAN KL ZM

CRWD DDOG PDD JD KRA HUYA BZUN TWLO 

AEM MRNA OSTK ....

AH Futures Down

AH Asian Markets Down

AH Oil Down 

AH Gold UP

About market, TAPE was under selling pressure due to rising COVID-19 cases in USA topping 140,000 in a day so far. Nasdaq held green for most of the day but slumped to red in afternoon. Many stocks closed green but internals were negative for the most part. Until we get better news in Corona virus, market may be trading in a very narrow range.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 3572.66, high 3581.16, low 3557.00

RSI @ 64.37

CMF @ -0.119

Internals were :

UP volume led by .63 to 1 in NYSE & 1.78 to 1 in Nasdaq

Advancing stocks led by 1.09 to 1 in NYSE & 1.30 to 1 in Nasdaq

Net new 52 wk highs were leading by 72 in NYSE & 86 in Nasdaq

VIX Down 5.44% @ 23.45

Oil @ $41.45

Gold @ $1861.60

Canadian $ @ .6990

In my portfolio :

Sold RUN @ $54.05

Added 25% CCL @ $16.20

Portfolio AAL APA CCL MGM PFE SU

Stocks which closed green included PINS MRVL NIO

AMD IPHI SPWR DKNG JKS CSIQ FSLR SEDG 

ENPH SQ NKLA NXPI DADA DOCU CNX

SHOP CRWD JD MRNA AAPL VICR CMG

LSCC QCOMLULU NVDA LRCX ROKU 

SWKS PANW....

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE returned to stay home stocks in a big way while DOW took a well deserved rest. I have a feeling this pattern of Nasdaq coming back after gaps will continue. Stay diversified with heavier weighting in laggards like travel / casinos and less weighting in technology. Post election drama continues with false accusations as I expected nothing less from a " sore loser "

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 3545.53, low 3511.91, high 3557.22

RSI @ 62.37

CMF @ -0.162

Internals were :

UP volume led by 1.77 to 1 in NYSE & .87 to 1 in Nasdaq

Advancing stocks led by 1.80 to 1 in NYSE & 1.53 to 1 in Nasdaq

Net new 52 wk highs were leading by 96 in NYSE & 67 in Nasdaq

VIX Down 3.69% @ 24.80

Oil @ $41.36

Gold @ $1876.40

Canadian $ @ .6998

Portfolio AAL APA CCL MGM PFE RUN SU

Stocks which closed green included APA SU

IBM PENN DSS GOOS DOCU ZI CNX 

CIEN TOL ERI NTAP TD KBH CVX 

BMO UPS GILD DHI PHM BA OXY

FFIV NFLX YELP LVS ULTA V...

AH Futures Mixed

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE kept its focus away from most technology stocks with rotation in full swing in reopening of economy stocks. Nasdaq had back to back negative session which is taken as weakness. Try to focus on laggards which has moved already but some are busy to take advantage of higher prices  with new stocks sale to raise more cash, only today AAL & CCL did just that.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed.....

 Indices closed mixed.

S&P 500 @ 3550.50, high 3645.99, low 3547.48

RSI @ 62.97

CMF @ -0.212

Internals were :

UP volume led by 4.67 to 1 in NYSE & 1.73 to 1 in Nasdaq

Advancing stocks led by 3.22 to 1 in NYSE & 1.98 to 1 in Nasdaq

Net new 52 wk highs were leading by 520 in NYSE & 377 in Nasdaq

VIX UP 3.58% @ 25.75

Oil @ $40.29

Gold @ $1854.40

Canadian $ @ .7016

In my portfolio in pre market

Sold AG @ $11.48

Bought PFE @ $41.40

Portfolio AAL APA CCL MGM PFE RUN SU

Stocks which were UP 5% or more included 

AAL APA CCL MGM PFE SU

NIO LYFT GOOS CNQ DAL HST NTAP

UBER TD CVX EAT ELF MRNA NCLH 

BA UAL EXPE FFIV OXY SLB YELP

WYNN LVS MA MS ULTA V X M ACB....

AH Futures Mixed

AH Asian Markets UP

AH Oil Down

AH Gold UP

About market, TAPE was already UP 400 points in DOW in pre market when news broke of PFE vaccine being 90% effective, that propelled market to open sharply higher, DOW was UP as much as 1600 points. DOW & S&P 500 both closed @ new all time high. Internals were mostly strong. Nasdaq closed in red which highlights shift in strategies and rotation.

BLOG does NOT give buy or sell.

Saleem

US stock market all set for major rally......

 Stocks are all set to jump to record level to celebrate dawn of a new era in US & world politics.

US administration is expected to run policies from a well thought out process not from tweet @ 3 AM.

Congratulations to President Biden & Vice President Kamala Harris on a softer message to encourage change and respect for all.

US stock market is going to react with full bull strength and may even make new all time highs in Nasdaq and other indices.

Open must be bought or else there is a chance you may watch in envy how others are making money by close.

I expect all sectors and most stocks to participate in Monday's run for roses....

SOX is already trading @ new all time high.....

Nasdaq may conquer new all time high @ open.

Very few time in trading history that you get a chance to be a part of record breaking open.....do not overthink......

Biden rally may beat any rally which we may have seen, there is a seismic shift in US policies internally and externally.

We all know how Biden laid out his vision of " Make America respect everyone again " and a brand new concept in USA " all are American "

I expect laggards to outperform % wise.....by a wide margin...

Technology & SOX will continue to shine and will be the leader in volume and $ gains....

SO ..rally is here....

Be part of it...

Do not sell quickly...

Time to celebrate being in stock market worldwide....

Good luck with your own thesis on political change, market reaction and message of new team  which has been " HIRED "

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed.....

 Indices closed mixed after huge runup. COVID-19 is making new all time highs in USA in daily reported 140,000 infections. Election is inching its way into finality. Monday should be very interesting in US markets as we greet new President Elect.

S&P 500 @ 3509.44, low 3484.34, high 3521.58

RSI @ 60.03

CMF @ -0.109

Internals were :

Down volume led by 1.18 to 1 in NYSE & .81 to 1 in Nasdaq

Declining stocks led by 1.41 to 1 in NYSE & 1.63 to 1 in Nasdaq

Net new 52 wk highs were leading by 188 in NYSE & 172 in Nasdaq

VIX Down 9.86% @ 24.86

Oil @ $37.14

Gold @ $1951.70

Canadian $ @ .6964

Stocks which were UP 1% or more included AG

SNAP PINS MRVL AMD IPHI FCX MU SQ

PANW LYFT NXPI ZI PLAN ROKU CIEN 

CGC ACB TLRY CRWD UBER ENPH 

SEDG UPS ASML XLNX BZUN TSM

NVDA AEM LRCX FSLR BABA MGA

SPWR CMG X M....

Here is my portfolio weighting :

MGM       31.74%

SU           19.04%

AAL        16.69%

CCL       12.50%

RUN        7.96%

AG          7.22%

APA        4.85%

Next post by 6 PM on Sunday

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 1.95% to 2.59%....NICE !!!!

 Indices closed UP.

S&P 500 @ 3510.45, high 3529.05, low 3485.74

RSI @ 60.13

CMF @ -0.098

Internals were :

UP volume led by 5.41 to 1 in NYSE & 4.24 to 1 in Nasdaq

Advancing stocks led by 4.57 to 1 in NYSE & 3.30 to 1 in Nasdaq

Net new 52 wk highs were leading by 248 in NYSE & 211 in Nasdaq

VIX Down 6.73% @ 27.58

Oil @ $38.79

Gold @ $1946.80

Canadian $ @ .6950

Portfolio AAL APA CCL AG MGM RUN SU

Stocks which closed UP 5% or more included AAL CCL AG RUN

NIO SPWR IAG DKNG GAN JKS CSIQ FSLR ENPH SEDG

MU NKLA QRVO DADA PENN AUY ZI KL CGC TLRY

ACB DAL UAL ESTC LITE NCLH QCOM BYND BZUN

LRCX AMAT OXY FSLR MRVL WYNN LVS MGA 

OSTK SWKS X....

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE was strong again with most sectors participating, Indices closed near high of the day. Internals were strong. Many stocks had double digit gains which proved that lot of short covering and new money was allocated to equity. We are on the way to series of new all time highs in this run.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 1.34% to 3.85%....NICE!!!!

 Indices closed UP.

S&P 500 @ 3443.44, high 3486.25, low 3405.17

RSI @ 55.10

CMF @ -0.064

Internals were :

UP volume led by .87 to 1 in NYSE & 1.91 to 1 in Nasdaq

Advancing stocks led by 1.36 to 1 in NYSE & 1.26 to 1 in Nasdaq

Net new 52 wk highs were leading by 125 in NYSE & 112 in Nasdaq

VIX Down 16.82% @ 29.57

Oil @ $39.15

Gold @ $1896.20

Canadian $ @ .6882

Portfolio AAL APA CCL AG MGM RUN SU

Stocks which were UP 5% or more included PINS MRVL NIO

AMD DKNG PANW LYFT DADA PENN DOCU PLAN 

SHOP ROKU TOL ZM CRWD ESTC UBER KBH TER

AAPL DHI PHM LSCC XLNX LULU NVDA TWLO 

LRCX AMZN AMAT OLED YY SQ NTNX YELP

FB CMG....

AH Futures UP

AH Asian Markets UP

AH Oil Down

AH Gold UP

About market, TAPE was in overdrive due to election trend in US election with mostly status quo which means no radical legislation to curb Capitalism. Nasdaq stay home stocks were strongest plus UBER & LYFT due to approval of proposition in California. Internals were surprisingly not so strong. Hopefully with more clarity on US election results, rally should continue.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 1.78% to 2.06%....NICE !!!!

 Indices closed UP.

S&P 500 @ 3369.16, high 3389.49, low 3326.35

RSI @ 48.38

CMF @ -0.032

Internals were :

UP volume led by 5.53 to 1 in NYSE & 3.83 to 1 in Nasdaq

Advancing stocks led by 4.24 to 1 in NYSE & 4.11 to 1 in Nasdaq

Net new 52 wk highs were leading by 69 in NYSE & 26 in Nasdaq

VIX Down 4.26% @ 35.55

Oil @ $37.66

Gold @ $1910.40

Canadian $ @ .6863

Portfolio AAL APA CCL AG MGM RUN SU

Stocks which closed UP 3% or more included AG MGM

NIO DKNG LYFT TWTR PENN DOCU CNQ PDD

EAT BA LULU NVDA TSLA LRCX FEYE CRUS

EXPE FFIV NTNX MS OSTK ULTA M.....

AH Futures Mixed

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE reacted to positive economic news in USA. Election day voting brought focus back to economic improvement to come worldwide, with better than expected growth projection from China. Indices closed near high of the day with internals mostly strong. Hopefully by the time we all wake UP there will be an elected President in USA.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .42% to 1.60%....NICE !!!!

 Indices closed UP.

S&P 500 @ 3310.24, high 3330.14, low 3279.74

RSI @ 42.00

CMF @ -0.089

Internals were :

UP volume led by 5.20 to 1 in NYSE & 1.61 to 1 in Nasdaq

Advancing stocks led by 2.94 to 1 in NYSE & 2.02 to 1 in Nasdaq

Net new 52 wk highs were leading by 11 in NYSE & lows by 33 in Nasdaq

VIX Down 2.34% @ 37.13

Oil @ $36.81

Gold @ $1892.50

Canadian $ @ .6743

Portfolio AAL APA CCL AG MGM RUN SU

Stocks which closed UP 4% or more included APA RUN SU

NIO FCX GAN JKS ENPH BZUN OXY SLB SPWR

OSTK CGC TLRY ACB....

AH Futures UP

AH Asian Markets UP

AH Oil Down

AH Gold UP

About market, TAPE was strong due to strong economic data from China & USA,  economic activity related stocks saw some of the biggest gains while cruise lines sat this rally out as further delay was announced by companies, Airlines also suffered due to movement restrictions in Europe. Today most internals were strong. Tuesday being election day in USA " too much noise is in the air "...hopefully calm may prevail around 11 PM, when winner may be announced to bring the temperature down substantially.

BLOG does NOT give buy or sell.

Saleem

BIG tech BIG trouble in US stock market.....

 This is the first time that biggest tech companies are violating 50 DMA across the board.....

They were the hallmark of " America the great phenomenon "

WHY they are all in a unified downtrend is extremely " rare phenomenon "

Will they find support near 200 DMA is the question of the day....

None of the sector which I monitor looks healthy either, another " rare phenomenon "

Here is the RSI numbers..my sole guide in any market :

DOW           31.74

S&P 500     37.05

Nasdaq       39.51

XLE           40.37

IWM          41.86

GLD          41.98

SOX          42.59

JETS         43.21

XLB          43.36

TAN         50.70 

As you can clearly see that just about every sector / Index is being sold off except TAN ( Solar )

They may NOT have reached " deeply oversold conditions yet "

RSI in 20's are considered deeply oversold......

We may get to deeply oversold level by end of Monday hopefully?

COVID-19 is not going away anytime soon.....

BUT US election is ending in 48 hours with all the unintended dramatics as a side show......

SO some relief may be on the way...one uncertainty may have " clearer picture Tuesday night "

In this environment exposure is important but in a diversified manner......

Market should find support before we know soon...hopefully..

Good luck with your own take on COVID-19, Election and technical health of this market.

BLOG does NOT give buy or sell.

Saleem