Indices closed down .16% to .61%.....

 Indices tried to close green but gave up gains near close. Internals were mixed. Rotation keep happening and selling continued in some technology stocks. Monday market is open normal hours while Toronto is closed.

S&P 500 @ 4766.18, low 4765.75, high 4784.99

RSI @ 58.23

CMF @ 0.106

Internals were :

UP volume led by .99 to 1 in NYSE & .50 to 1 in Nasdaq

Advancing stocks led by 1.39 to 1 in NYSE & .84 to 1 in Nasdaq

Net new 52 wk highs were leading by 126 in NYSE & lows by 88 in Nasdaq

VIX Down .63% @ 17.22

Oil @ $75.21

Gold @ $1828.60

Canadian $ @ .7342

Stocks which were UP 1% or more included

XPEV TECK X CLFPFE

GOLD PENN KL ELF

AEM ULTA.....

Here is my portfolio weighting :

MGM      28.59%

HST        24.93%

CNX       19.71%

UAL       10.46%

NCLH     4.96%

SNAP      3.75%

SU          3.33%

BTCC    2.53%

RIOT    1.74%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .16% to .30%....

 Indices closed down.

S&P 500 @ 4778.73, low 4775.33, high 4808.93

RSI @ 59.70

CMF @ 0.168

Internals were :

UP volume led by 1.29 to 1 in NYSE & 2.75 to 1 in Nasdaq

Advancing stocks led by 1.26 to 1 in NYSE & 1.47 to 1 in Nasdaq

Net new 52 wk highs were leading by 178 in NYSE & lows by 72 in Nasdaq

VIX UP 2.24% @ 17.33

Oil @ $76.99

Gold @ $1814.10

Canadian $ @ .7219

CNX HST MGM SNAP BTCC NCLH RIOT SU UAL

Stocks which were UP 2% or more included RIOT SNAP

SOL XPEV SPWR LI NIO AFRM HOOD AG BB SQ

LSPD ROKU BMBL LAC MGNI CLF AI BIDU RUN

DKNG GAN CSIQ PENN MTCH ZM ESTC JD 

BYND TWLO BABA SOFI API QS TWTR JKS 

TLRY....

AH Futures Down

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, TAPE struggled today as we were overbought. Intraday S&P 500 & DOW made another new all time highs. did  Internals were positive. Friday is last day of the week, month, quarter, 6 months and full year, how market will fare could be very interesting. I expect a positive close which should carry over to Monday.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 4793.06, high 4804.06, low 4778.08

RSI @ 61.33

CMF @ 0.122

Internals were :

Down volume led by 1.26 to 1 NYSE & 1.73 to 1 in Nasdaq

Declining stocks led by .84 to 1 in NYSE & 1.42 to 1 in Nasdaq

Net new 52 wk highs were leading by 118 in NYSE & lows by 324 in Nasdaq

VIX Down 3.36% @ 16.95

Oil @ $76.56

Gold @ $1805.80

Canadian $ @ .7184

Portfolio CNX HST MGM SNAP BTCC NCLH NCLH RIOT SU UAL

Stocks which closed green included CNX MGM SU

AMAT TJX M BYD MRVL QCOM IBM SNOW

SHOP TOL DDOG KBH LITE ELF MRNA

DHI PHM NKE SPLK OLED JWN JKS

MU ULTA LRCX.....

AH Futures Mixed

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE closed mixed with S&P 500 & DOW @ new all time high. Internals were weak. Crypto is looking for support. Oil keeps going up  and energy stocks staying strong. Nasdaq also basing before making new all time highs.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed.....

 Indices closed mixed.

S&P 500 @ 4786.35, low 4780.04, high 4807.02

RSI @ 60.86

CMF @ 0.043

Internals were :

Down volume led by 1.23 to 1 in NYSE & 2.19 to 1 in Nasdaq

Declining stocks led by 1.04 to 1 in NYSE & 1.87 to 1 in Nasdaq

Net new 52 wk highs were leading by 200 in NYSE & lows by 161 in Nasdaq

VIX Down .79% @ 17.54

Oil @ $75.98

Gold @ $1810.90

Canadian $ @ .7183

Portfolio CNX HST MGM SNAP BTCC NCLH RIOT SU UAL

Stocks which were UP 1% or more included UAL

ROKU AAL CLF DAL KBH PHM

BA FFIV OLED JKS....

AH Futures Mixed

AH Asian markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE was trying for green but ended mixed. S&P 500 made an intraday new all time high. Nasdaq was weak. OMICRON is spreading fast but its not lethal which is reflected in Indices being strong. End of the year selling & repositioning with low volume is not giving a true read about market. Position your portfolio with stocks you want to carry in new year.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .88% to 1.39%....NICE !!!!

 Indices closed UP.

S&P 500 @ 4791.19, high 4791.49, low 4733.99

RSI @ 61.36

CMF @ 0.069

Internals were :

UP volume led by 2.51 to 1 in NYSE & 1.18 to ! in Nasdaq

Advancing stocks led by 2.29 to 1 in NYSE & 1.09 to 1 in Nasdaq

Net new 52 wk highs were leading by 167 in NYSE & lows by 65 in Nasdaq

VIX Down 1.56% @ 17.68

Oil @ $75.57

Gold @ $1808.80

Canadian $ @ .7183

Portfolio CNX HST MGM SNAP BTCC NCLH RIOT SU UAL

Stocks which were UP 3% or more included CNX

AMAT LRCX TER AFRM CCJ APA COIN

MRVL CNQ LAC AMD  VICR LSCC FB

NVDAFFIV LTHM AMD.....

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE was strong & closed @ high of the day. Many sectors participated in today's rally except travel & leisure stocks. Energy, retail & technology stocks were strong. Internals were mostly positive. VIX was stubborn today and hardly moved. Its a low volume week so its hard to decipher everything. S&P 500 made another new all time high & closing high.

BLOG does NOT give buy or sell.

Saleem

US stock market in 2022.....

 2022 is  only 1 trading week away....

Many are wondering what kind of strategy will work...

Most technicians were not accurate about 2021, they were super bearish all along...

Most traders were whipsawed by rotation

Those who stayed the course were caught in the end

Although major Indices made series of new highs all year of 2021, major players, traders did not have performance to match Indices....

Passive Investors did much better than traders hands down in 2021, they watched in awe how much their investment have grown just by being in the market through ETF in their retirement accounts.....

I am sure, many traders are readjusting their daytrading techniques 

HFT high frequency traders were also caught with rotation in markets which nullified many of their game plans....

Most participants for once will admit that ETF and leaving it alone was the best strategy in 2021

2022 may be a lot different market with many cross current @ play :

High inflation...

Chips shortage

Freight cost very high

Fed raising interest rates

OMICRON or other variant may be be the disruptor

Above factors are just the known ones, there may be few " unknown risks which may come into play "

Every year something totally unpredictable takes the wind out of stock market....

2022 may be another year where passive investing may win out again.....

Overtrading may not work in 2022 either

We are entering uncharted territory in 2022...

First 6 months may be more challenging than 2nd half

2nd half of 2022 may see a trend which most can follow and hopefully can make money

SO 2022 may require lot of patience and home work

Most followed TAPE since heyday of 1999 2000 which has worked more the most part......

2022 may be the year of fundamental analysis which most traders do not follow

So new learning and lots of patience is in the mix.....

OH...by the way...2021 will go out like a bang...@ series of new highs in lat week of 2021 & first week of 2022......

After that, it is back to basic!!!!

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .55% to .85%...NICE !!!!

 Indices closed UP. S&P 500 made a new closing all time high. Today was 3rd straight day of gains for major indices. Internals were mostly positive.

S&P 500 @ 4725.79, high 474074, low 4703.96

RSI @ 56.97

CMF @ 0.008

Internals were :

UP volume led by 2.72 to 1 in NYSE & 2.83 to 1 in Nasdaq

Advancing stocks led by 2.40 to 1 in NYSE & 2.21 to 1 in Nasdaq

Net new 52 wk highs were leading by 103 in NYSE & lows by 44 in Nasdaq

VIX Down 3.60% @ 17.96

Oil @ $73.79

Gold @ $1811.70

Canadian $ @ .7188

Stocks which were UP 4% or more included

BTCC RIOT SNAP

MU COIN FUBO

MSTR LYFT 

TSLA LVS.....

Here is my portfolio weighting :

MGM       28.55%

HST         24.34%

CNX        19.69%

UAL        10.51%

NCLH      5.32%

SNAP      3.80%

SU           3.18%

BTCC     2.66%

RIOT      1.95%

ENJOY YOUR CHRISTMAS HOLIDAYS!!!!!

Next post by 6 PM on Sunday.

BLOG does not give buy or sell

Saleem

Indices closed up .74% to 1.18%...NICE !!!!

 Indices closed UP.

S&P 500 @ 4696.56, high 4697.67, low 4645.53

RSI @ 54.84

CMF @ 0.035

Internals were :

UP volume led by 3.08 to 1 in NYSE & 1.90 to 1 in Nasdaq

Advancing stocks led by 3.17 to 1 in NYSE & 1.65 to 1 in Nasdaq

Net new 52 wk highs were leading by 7 in NYSE & lows by 83 in Nasdaq

VIX Down 11.33% @ 18.63

Oil @ $72.76

Gold @ $1802.20

Canadian $ @ .7153

Portfolio CNX HST MGM SNAP BTCC NCLH RIOT SU UAL

Stocks which were UP 2% or more included HST

AG TSM MRVL RCL CCL FCX PANW TOL

UBER KBH PHM DHI TSLA EXPE XPEV

QS JWN ULTA....

AH Futures Mixed

AH Asian Markets UP

AH Oil & Gold UP

About market, TAPE closed @ high of the day which confirmed this uptrend, Internals were mostly positive. All sectors participated in today's run. Market is on healthy footing with interruptions from OMICRON news which will be normal. Stay engaged with this market with reopen stocks as overweight.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 1.60% to 2.40%...NICE!!!!

 Indices closed UP.

S&P 500 @ 4649.23, high 4651.14, low 4583.16

RSI @ 51.21

CMF @ 0.027

Internals were :

UP volume led by 6.42 to 1 in NYSE & 4.24 to 1 in Nasdaq

Advancing stocks led by 4.08 to 1 in NYSE & 2.96 to 1 in Nasdaq

Net new 52 wk lows were leading by 45 in NYSE & 125 in Nasdaq

VIX Down 8.13% @ 21.01

Oil @ $71.26

Gold @ $1788.70

Canadian $ @ .7068

Portfolio CNX HST MGM SNAP BTCC NCLH RIOT SU UAL

Stocks which were UP 5% or more included

HST MGM RIOT NCLH UAL

PLTR XPEV LI NIO AFRM CGC CCJ 

SQ APA LSPD M BYD JBLU SAVE TRIP

BMBL RCL WYNN CCL BIDU RUN DKNG

SNOW LYFT PENN DAL ESTC UBER DDOG

ENPH PDD JD BA BYND BABA EXPE LAC OXY

JKS MU LVS NKE......

AH Futures Mixed

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE staged an oversold bounce and closed near high of the day, a good first day for market participants. Many deeply oversold stocks staged almost 10% UP move. Most sectors participated in this bounce. Internals were positive. We need a confirmation of this rally IF NOT it will be  very negative for this TAPE.

BLOG does NOT give buy or sell.

Saleem

Indices closed down 1.14% to 1.24%.....

 Indices closed down

S&P 500 @ 4568.02, low 4531.10, high 4587.90

RSI @ 44.04

CMF @ -0.060

Internals were :

Down volume led by 4.55 to 1 in NYSE & 2.13 to 1 in Nasdaq

Declining stocks led by 4.38 to 1 in NYSE & 2.69 to 1 in Nasdaq

Net new 52 wk lows were leading by 336 in NYSE & 396 in Nasdaq

VIX UP 6.03% @ 22.87

Oil @ $68.23

Gold @ $1794.60

Canadian $ @ .7052

Portfolio BTCC CNX HST MGM SNAP SU RIOT NCLH UAL

Stocks which closed green included BTCC NCLH UAL

MRVL RCL CCL AAL PFE LYFT KL CIEN CRWD

ABBV ASML AEM EXPE NFLX LNG....

AH Futures UP

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE was in a freefall again on OMICRON spreading with speed worldwide. Indices closed above lows of the day, Internals were negative. RSI @ 44.04 in S&P 500 looks deeply oversold and ready for a technical bounce. MU earnings tonight is a good thing for technology & Semiconductor group.

BLOG does NOT give buy or sell.

Saleem

US Stock market in trouble.....

 US stock market is having serious second thought about Fed impact & OMICRON resurgence

6 out of 9 sectors are below 50 DMA...technically market is breaking down

Russell 2000 is below 50 & 200 DMA... technical breakdown has occurred

RSI is also telling a very weak technical set up

Most indices / index / ETF are in 40 RSI area

TAN solar stocks is the weakest with RSI of 32.84

S&P 500 is barely above 50 DMA which is among the strongest IF you can call that strong

SO...technical picture has worsened 

Question of the week is....what to do NOW

Have we discounted everything about Fed & OMICRON? most do not know the answer yet thus uncertainty persists.

All we are doing is playing the odds, as to how we see the market near term

Nasdaq has given a clear cut message despite good recovery by Friday's close, message is " all is not well in tech land "

Major shift in allocation has occurred in technology ETF, only few diehard like Cathy Wood insists she is the only one who can see present & future?

Financials are also weakening

Pay later stocks are in trouble

Home Gym idea is in ICU

OMICRON looks like will infect much faster but is not fatal based on current stat

Please read carefully " message of the market " Peter Lynch famous mantra, do not ignore warning sign

Try to be in this market as best gains of the year is in only few trading days..as Peter Lynch repeated hundred of time...do not time the market it is futile and you lose best days which is few and far in between

Good luck with your own version of Peter Lynch or read his books " ONE UP ON WALL STREET "

BLOG does NOT give buy or sell.

Saleem

Indices closed down .07% to 1.48%.....

 Indices closed down in another negative session. too much anxiety about Fed intentions and new tax rules IF implemented, Billionaire in chief Musk has been relentless in his TSLA selling in the cover of paying taxes, others are doing the same more openly. Only Nasdaq had major recovery other Indices closed near lows of the day.

S&P 500 @ 4620.64, low 4600.22, high 4666.70

RSI @ 48.31

CMF @ -0.106

Internals were :

UP volume led by .60 to 1 in NYSE & 1.37 to 1 in Nasdaq

Advancing stocks led by .67 to 1 in NYSE & 1.16 to 1 in Nasdaq

Net new 52 wk lows were leading by 163 in NYSE & 386 in Nasdaq

VIX UP 4.86% @ 21.57

Oil @ $70.86

Gold @ $1804.90

Canadian $ @ .7165

In my portfolio :

Added 100% BTCC.TO @ $9.53

Bought RIOT @ $22.80

Stocks which were UP 3% or more included MGM NCLH

SOL PLTR SPWR HOOD BB TRIP ROKU NVTA RCL

SWKS CCL MGNI PINS DKNG CSIQ PENN ZM 

DDOG NVAX MRNA BYND TWLO API QS JKS....

Here is my portfolio weighting :

MGM       28.34%

HST         23.59%

CNX        20.99%

UAL        10.25%

NCLH      5.11%

SNAP      3.79%

SU           3.24%

BTCC     2.43%

RIOT      2.26%

Next post by 6 PM on Sunday

BLOG does NOT give buy or sell.

Saleem

Indices closed down .08% to 2.47%....

Indices closed down.

S&P 500 @ 4668.67, low 4651.84, high 4731.99

RSI @ 52.64

CMF @ -0.042

Internals were :

Down volume led by .97 to 1 in NYSE & 1.76 to 1 in Nasdaq

Declining stocks led by 1.03 to 1 in NYSE & 1.93 to 1 in Nasdaq

Net new 52 wk high were leading by 39 in NYSE & lows by 136 in Nasdaq

VIX UP 6.64% @ 20.57

Oil @ $72.38

Gold @ $1798.20

Canadian $ @ .7224

In my portfolio:

Sold 70% SNAP @ $44.65

Bought BTCC.TO @ $9.84

Bought SU.TO @ $30.70

Portfolio  CNX HST MGM SNAP BTCC SU NCLH UAL

Stocks which closed green included SU

TJX AG GE TECK X PAAS PCX 

CLF IBM PFE GOLD INTC NEM

MTCH TD NVAX CVX MCD 

AEM SLB MA V MS....

AH futures UP

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, TAPE was under selling pressure in technology after overnight hangover. Poor Marty Zweig was being misquoted to explain today's TAPE, this is a normal routine for market to reevaluate next day over & over. It is the message of the market which should be noted. Excess always is dealt with one way or the other sooner or later.. VIX surprisingly was tepid which is a good thing. Internals were slightly negative which is also a good thing FWIW.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 1.08% to 2.15%...NICE !!!

 Indices closed UP.

S&P 500 @ 4709.85, high 4712.60, low 4611.22

RSI @ 56.68

CMF @ -0.033

Internals were :

UP volume led by 1.76 to 1 in NYSE & 2.20 to 1 in Nasdaq

Advancing stocks led by 1.85 to 1 in NYSE & 1.70 to 1 in Nasdaq

Net new 52 wk lows were leading by 242 in NYSE & 582 in Nasdaq

VIX Down 11.86% @ 19.29

Oil @ $70.87

Gold @ $1769.60

Canadian $ @ .7077

Portfolio CNX HST MGM SNAP NCLH UAL

Stocks which were UP 4% or more included

SOL AMAT AFRM CCJ NVTA QCOM AI 

PFE PANW NXPI DOCU ZI CRWD

ESTC NVAX ASML NVDA SOFI....

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE waited for Fed policy statement and liked what it said, double taper & 3 potential hikes in 2022 depending on job growth. Most technology stocks took off ans were big winners today. Internals were mixed. Majority opinion prevailed in fed policy statement.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .30% to 1.14%.....

 Indices closed down.

S&P 500 @ 4634.09, low 4606.52, high 4660.47

RSI @ 50.14

CMF @ -0.074

Internals were :

Down volume led by 1.80 to 1 in NYSE & 2.05 to 1 in Nasdaq

Declining stocks led by 2.70 to 1 in NYSE & 2.58 to 1 in Nasdaq

Net new 52 wk lows were leading by 199 in NYSE & 443 in Nasdaq

VIX UP 7.78% @ 21.89

Oil @ $70.73

Gold @ $1772.30

Canadian $ @ .7140

Portfolio CNX HST MGM SNAP NCLH UAL

Stocks which were UP 1% or more included MGM PLTR 

RIOT COIN M X SCHW CLF MSTR AMD LYFT

DOCU KL UBER LITE ELF MRNA BYND

AEM BABA QS JWN MS ULTA IBM.....

AH Futures Mixed

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, TAPE was under selling pressure right after open on developing vulnerability from OMICRON and Fed faster tapering. 2 PM we will know IF Fed's policy statement will be in between two extreme position, which is less than doubling of tapering @ starting point in January. Rate hike expected in May / June 2022.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .89% to 1.39%.....

 Indices closed down

S&P 500 @ 4668.97, low 4667.60, high 4710.30

RSI @ 53.60

CMF @ -0.083

Internals were :

Down volume led by 3.15 to 1 in NYSE & 1.72 to 1 in Nasdaq

Declining stocks led by 2.30 to 1 in NYSE & 2.54 to 1 in Nasdaq

Net new 52 wk lows were leading by 63 in NYSE & 268 in Nasdaq

VIX UP 8.67% @ 20.31

Oil @ $71.29

Gold @ $1788.30

Canadian $ @ .7201

Portfolio CNX HST MGM SNAP NCLH UAL

Stocks which closed green included

SOL SPWR CSIQ JKS

NVTA PFE MRNA

NVAX KL CIEN 

VICR FB AEM 

CRUS SPLK.....

AH Futures UP

AH Asian Markets Down

AH Oil & Gold UP

About market, TAPE was under selling pressure and closed @ low of the day due to Britain facing first  death from OMICRON. Delta & Omicron variant causing serious concern in Britain & many countries around the world, winter spike is spooking investors / traders. Fed meeting starts on Tuesday with policy statement @ 2 PM on Wednesday, many are handicapping for doubling of taper, I believe it will be more gradual.

BLOG does NOT give buy or sell.

Saleem

US stock market set to rally to new highs....

 US stock market is all set to rally to series of new all time highs....

US stock market has discounted many things which was troubling this TAPE and they are :

Fed policy of faster tapering

Delta variant is facing more and more vaccinated population resulting in fewer deaths.

OMICRON is not multiplying as feared

Shipping bottleneck is easing up

Inflation is @ peak as of Friday's CPI report

The above is a major break for market

Fed tapering schedule on Wednesday will cause a major rally as it will not be as feared, much more gradual increase than so called doubling of tapering.

US stock market is looking very undervalued despite new all time closing high in S&P 500....

Here is the RSI number to support my undervalued conclusion :

SOX           59.28

S&P 500    58.20

DOW         57.77

XLE          53.81

Nasdaq     51.55

JETS        43.84

IWM         42.07

XLF          39.05

TAN          37.80

This is the first time that I am observing not a single indices / index / sector is even @ 60 RSI..an extremely rare phenomenon despite S&P 500 hit a new all time closing high.....

Majority of the RSI are showing a read which confirms that this market has a long way to go up.

Please do your own homework and try to pick winning stocks in your universe.

We should be going much higher from here based on RSI

Look @ long term sustained gain in your selection of stocks.

Restart of economy stocks should gain momentum going forward as evidence are piling up that economic activity is picking up steam......

Technology stocks which are linked with Metaverse should gain momentum also...

5G related stocks also are a beneficiary going forward

Cloud storage related should do well

All in all from Energy, Airlines, Casinos, Hotels are all lined up for brighter days ahead.

Good luck with your own comfort level & take of where we are in the stock market cycle

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .60% to .95%...NICE !!!!

 Indices closed UP shrugging worst inflation report in 3 decades, rationale was, it could have been even worse. S&P zoomed into highest close in history but still few points lower than intraday all time high. Internals were negative.

S&P 500 @ 4712.02, high 4713.57, low 4670.24

RSI @ 58.20

CMF @ -0.010

Internals were :

Down volume led by .82 to 1 in NYSE & 1.13 to 1 in Nasdaq

Declining stocks led by 1.05 to 1 in NYSE & 1.48 to 1 in Nasdaq

Net new 52 wk low were leading by 8 in NYSE & 124 in Nasdaq

VIX Down 13.39% @ 18.69

Oil @ $71.67

Gold @ $1784.80

Canadian $ .7287

Stocks which were UP 2% or more included

CNX LI APA AAPL

AI MSFT TOL PDD

TER DHI CRUS ORCL...

Here is my portfolio weighting :

MGM      26.43%

HST        23.88%

CNX       20.93%

SNAP     11.69%

UAL       10.54%

NCLH     6.53%

Next post by 6 PM on Sunday..

BLOG does NOT give buy or sell.

Saleem

Indices closed down 0.0% to 1.71%.....

 Indices closed down.

S&P 500 @ 4667.45, low 4665.98, high 4695.26

RSI @ 54.44

CMF @ -0.082

Internals were :

Down volume led by 2.87 to 1 in NYSE & 2.31 to 1 in Nasdaq

Declining stocks led by 3.03 to 1 in NYSE & 3.06 to 1 in Nasdaq

Net new 52 wk lows were leading by 1 in NYSE & 39 in Nasdaq

VIX UP 8.44% @ 21.58

Oil @ $70.94

Gold @ $1776.70

Canadian $ @ .7297

Portfolio CNX HST MGM SNAP NCLH UAL

Stocks which closed green included

TWTR SWKS IBM

PFE CIEN TOL JD

LITE UPS CRUS

MCD MA V....

AH Futures Mixed

AH Asian Markets Down

AH Oil Down

AH Gold UP

About market, TAPE was negative @ close with Nasdaq being weakest, Indices closed near low of the day. Internals were negative. There is tremendous anxiety about inflation being highest in history when CPI is reported @ 830 AM, IF that happens there may be selling @ open which should be bought.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .10% to .64%....NICE !!!!

 Indices closed UP

S&P 500 @ 4701.21, high 4705.06, low 4674.52

RSI @ 58.11

CMF @ -0.064

Internals were :

UP volume led by 1.81 to 1 in NYSE & 2.67 to 1 in Nasdaq

Advancing stocks led by 1.68 to 1 in NYSE & 1.91 to 1 in Nasdaq

Net new 52 wk highs were leading by 72 in NYSE & lows by 13 in Nasdaq

VIX Down 9.09% @ 19.90

Oil @ $72.36

Gold @ $1785.50

Canadian $ @ .7343

Portfolio CNX HST MGM SNAP NCLH UAL

Stocks which were UP 4% or more included SNAP NCLH UAL

NIO AFRM HOOD ROKU RCL LAC CCL FUBO AI RIDE

PINS GAN DOCU ZI BYND LVS.....

AH Futures Down

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE was green 3 days in a row, all indices closed near high of the day staring @ new all time highs. Restart & technology stocks performed well. Internals were mostly positive. There is a calm in this TAPE which should propel indices into series of new all time highs. This is a great rotation market and bad earnings are being given a pass which means many stocks should go much higher.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 1.40% to 3.03%....NICE !!!!

 Indices closed UP.

S&P 500 @ 4686.75, high 4694.04, low 4631.97

RSI @ 56.96

CMF @ -0.109

Internals were :

UP volume led by 5.49 to 1 in NYSE & 4.36 to 1 in Nasdaq

Advancing stocks led by 3.76 to 1 in NYSE & 3.34 to 1 in Nasdaq

Net new 52 wk highs were leading by 68 in NYSE & 6 in Nasdaq

VIX Down 19.46% @ 21.89

Oil @ $72.05

Gold @ $1784.70

Canadian $ @ .7343

Portfolio CNX HST MGM SNAP NCLH UAL

Stocks which were UP 3% or more included SNAP PLTR SOL

AMAT AFRM HOOD PYPL RIOT CCJ SQ APA COIN X

AAPL BMBL MRVL QCOM QRVO SWKS CNQ MSTR 

RIDE RUN AMD SNOW NXPI GOOS SHOP DDOG PDD

NVAX MRNA SEDG TER NVDA TSLA OXY MS ULTA

CMG....

AH Futures UP

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, TAPE confirmed this rally by closing near high of the day. SOX closed @ new all time high while all indices are near their all time highs. Technology were the-best performer today. Internals were strong. This was a broad based rally today while reopen stocks took a breather. It will be interesting to see which sectors go UP on day 3.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .93% to 1.87%....NICE !!!!

 Indices closed UP.

S&P 500 @ 4591.67, high 4612.60, low 4540.51

RSI @ 48.24

CMF @ -0.163

Internals were :

UP volume led by 4.07 to 1 in NYSE & 1.96 to 1 in Nasdaq

Advancing stocks led by 2.82 to 1 in NYSE & 1.70 to 1 in Nasdaq

Net new 52 wk lows were leading by 134 in NYSE & 613 in Nasdaq

VIX Down 11.38% @ 27.18

Oil @ $69.49

Gold @ $1779.50

Canadian $ @ .7211

Portfolio CNX HST MGM SNAP NCLH UAL

Stocks which were UP 5% or more included

HST MGM NCLH UAL

XPEV LI SAVE RCL TWTR

WYNN LVS AAL CCL BIDU

PINS LYFT PENN ZI PLAN

UBER EXPE.....

AH Futures UP

AH Asian Markets UP

AH Oil UP

AH Gold Down

About market, TAPE was in a bullish mode & closed near high of the day. S&P 500 closed above 50 DMA while DOW & Nasdaq are slightly below 50 DMA. Reason for this major run was OMICRON is reporting to be much milder than feared and so far resulting in zero death, quite a relief to world stock market. Expecting another positive close on Tuesday which will confirm this turnaround.

BLOG does NOT give buy or sell.

Saleem

US stock market facing OMICRON & FED.....

 US stock market is facing two uphill battle for now, OMICRON & new faster tapering from Fed.

Both are very unsettling as they both have created major uncertainty

Fed faster tapering is removing liquidity from Wall Street which has supported this market since COVID-19

OMICRON impact is totally unknown @ the moment, there is no known vaccine except a booster dose of existing vaccine as a starting point

How fast OMICRON is spreading is also unknown, DELTA variant is still ramping UP in many countries including Canada, Britain & Russia

Knowing all of the above uncertainties, US & world stock markets are in an unknown territory in terms of economic impact.

US stock market has trashed many high flying stocks, resulting in ARKK being down a whopping 25% for the year way more than many indices.....

When I am looking @ RSI of many Indices and Index, there are many surprises......

Worst performing ETF is TAN which stands @ 31.60 in RSI rating, also below 50 & 200 DMA

Second worst is RUSELL 2000 @ 31.74

3rd worst is Nasdaq @ 38.53

Best performing index is SOX which is @ 56.00 RSI, it is also above 50 & 200 DMA

Only other Index which is above 50 & 200 DMA is XLB whose RSI stands @ 43.35

XLE energy index is sporting a healthy RSI of 44.99...this is 2nd best performing in RSI rating

What can we analyze with the above RSI & 50 plus 200 DMA......????

SOX is giving signal of extreme strength under very difficult environment, we should have some exposure there, look @ NXPI as to how close it is to its all time high.....

Energy ETF XLE through many companies not only showing relative strength but was showing green in many portfolio on Friday.....

YES it is extremely tough for many traders, ETF & institutions, but it may be discounting most of the issues @ current level.

DOW staged an impressive V bottom on Friday which must be noted....

Nasdaq is the only index which is still scraping the bottom of its range...

Tough it is... but pay attention to the direction in Fundamental picture of every stocks, it matters NOW.

Rethink your portfolio, when tides are against you, it does not make any difference where the stock was, it is where its heading, should have a good handle on the direction of each stock going forward.

Good luck with your own analysis and comfort level.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .17% to 1.92%.....

 Indices closed down but well above low of the day, all due to OMICRON & poor jobs report. There was exodus from technology stocks which picked up steam this week, Nasdaq was the worst performer.

S&P 500 @ 4538.43, low 4495.12, high 4608.03

RSI @ 42.15

CMF @ -0.193

Internals were :

Down volume led by 2.60 to 1 in NYSE & 3.29 to 1 in Nasdaq

Declining stocks led by 2.68 to 1 in NYSE & 3.42 to 1 in Nasdaq

VIX UP 9.73% @ 30.67...high today 35.32..52 wk high 37.51

Oil @ $66.26

Gold @ $1783.90

Canadian $ @ .7165

Stocks which closed green included CNX

TJX X MRVL QRVO CNQ IBM PFE

NXPI NEM KL KBH LITE BMO 

UPS MRNA NKE AEM CRUS 

MA MCD NKE.....

Here is my portfolio weighting :

MGM       27.46%

HST         23.76%

CNX        20.67%

SNAP      11.53%

UAL       10.41%

NCLH       6.17%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .83% to 1.82%...NICE !!!!

 Indices closed UP.

S&P 500 @ 4577.10, high 4595.46, low 4504.73

RSI @ 45.78

CMF @ -0.143

Internals were :

UP volume led by 5.57 to 1 in NYSE & 1.89 to 1 in Nasdaq

Advancing stocks led by 2.49 to 1 in NYSE & 1.79 to 1 in Nasdaq

Net new 52 wk lows led by 232 in NYSE & 587 in Nasdaq

VIX Down 10.19% @ 27.95

Portfolio CNX HST MGM SNAP NCLH UAL

Oil @ $66.50

Gold @ $1762.70

Canadian $ .7186

Stocks which were UP 4% or more included MGM NCLH UAL

MGA PYPL BB APA CRM BYD JBLU SAVE RCL WYNN

AAL CCL SCHW SNOW LYFT PENN ZI TOL KBH DHI 

PHMDAL UBER SPLK LVS MA MGA V....

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE staged an oversold bounce and closed near high of the day, Internals were mixed. It will be interesting IF we get confirmation of today's positive action. It is all about jobs report which should be as expected. OMICRON news may dominate sentiment initially but close will be the key.

BLOG does NOT give buy or sell.

Saleem

Indices closed down 1.18% to 1.83%......

 Indices closed down.

S&P 500 @ 451304, low 4510.27, high 4652.94

RSI @ 37.49

CMF @ -0.140

Internals were :

Down volume led by 4.07 to 1 in NYSE & 2.21 to 1 in Nasdaq

Declining stocks led by 2.26 to 1 in NYSE & 2.90 to 1 in Nasdaq

Net new 52 wk lows were leading by 274 in NYSE & 497 in Nasdaq

VIX UP 14.45% @ 31.12..high today 32.61....52 wk high 37.51....

Oil @ $65.57

Gold @ $1784.30

Canadian $ @ .7210

Portfolio CNX HST MGM SNAP NCLH UAL

Stocks which closed green included

AMAT MU TSM TOL

JD ASML BZUN MS

LRCX....

AH Futures UP

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE was sharply higher after open and closed sharply lower near low of the day. All major Indices are below 50 DMA and some are below 200 DMA and Russell 2000 sharply below 50 & 200 DMA...worst chart among majors. Only chart standing UP to bears are none other than SOX well above 50 & 200 DMA not far from all time highs.

BLOG does NOT give buy or sell.

Saleem

Indices closed down 1.55% to 1.90%.....

 Indices closed down.

S&P 500 @ 4567.00, low 4560.00, high 4646.02

RSI @ 42.59

CMF @ -0.048

Internals were :

Down volume led by 7.40 to 1 in NYSE & 2.18 to 1 in Nasdaq

Declining stocks led by 3.82 to 1 in NYSE & 2.40 to 1 in Nasdaq

Net new 52 wk lows were leading by 342 in NYSE & 577 in Nasdaq

VIX UP 18.42% @ 27.19

Oil @ $66.18

Gold @ $1776.50

Canadian $ @ .7206

Portfolio CNX HST MGM SNAP NCLH UAL

Stocks which closed green included

XPEV LI MSTR OFE 

NVAX HUYA......

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE was under pressure from open on comments by Moderna CEO that current vaccine may not be fully effective in treating OMICRON variant, then Fed Chief Powell drop the faster taper shoe, rest is a lousy close. Hopefully all the surprise is priced in.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .68% to 1.88%....NICE !!!!

 Indices closed UP.

S&P 500 @ 4655.27, high 4672.95, low 4625.26

RSI @ 53.66

CMF @ 0.048

Internals were :

UP volume led by 1.04 to 1 in NYSE & 1.03 to 1 in Nasdaq

Advancing stocks led by 1.31 to 1 in NYSE & .74 to 1 in Nasdaq

Net new 52 wk lows were leading by 128 in NYSE & 285 in Nasdaq

VIX Down 19.78% @ 22.96

Oil @ $69.95

Gold @ $1785.20

Canadian $ @ .7206

Portfolio CNX HST MGM SNAP NCLH UAL

Stocks which were UP 2% or more included SPWR LI AMAT

RIOT MU AG CCJ TECK APA CRM COIN SAVE AAPL

BMBL MRVL RCL QCOM CNQ LAC MSTR AMD 

IBM CSIQ MSFT NXPI ESTC ENPH PDD MRNA

TSLA LRCX FSR JKS PANW.....

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE came back nicely from its Friday's slump. Internals were mixed. There is lot of concern about OMICRON variant as much is unknown but it is in most countries by now, there has not been any serious reaction yet. Scientist from South Africa who discovered this variant assured WHO and everyone that, based on what he has seen & observed, it is of mild reaction.

BLOG does NOT give buy or sell.

Saleem

US stock market faces a new challenge OMICRON.....

 Everything was going good in US & world stock markets, economy was opening up in an accelerated format......

Oil was hitting highest point in 7 years.....

Most Indices were making series of new all time highs.....

Fed had steady & continuity in leadership under Powell..

Stimulus bill passed in USA.....

AAPL was making series of new all time highs as holiday sales were percolating...

Bitcoin was hitting new all time highs...

AND YES...there was lot to be thankful on this "Thanksgiving day "

BUT

Everything was put on hold by a variant of COVID-19 which is much faster to spread with no known cure which now has a name as of Friday " OMICRON "

Most nations are very quickly reacting to control this new variant by imposing total ban from many countries in Africa......

South Africa is upset that restriction is being imposed and feels being penalized for discovering OMICRON instead of being appreciated...OMICRON did not originate in South Africa for the record....it was a neighboring country.

The question is what OMICRON will do to all the preparation to normalcy worldwide, my guess is that with proper protocol which includes vaccination, booster shots, things may proceed on its own pace.

Markets are deeply oversold as of Friday's close.

Opportunistic buying should be done with exposure to all sectors.

Technology stocks behaved much better overall especially @ home stocks came to life again.

I do not believe that we are going back to lockdown days with new variant.

From Monday, I expect pragmatic and workable solution to deal with OMICRON will be implemented.

Most protocol is in place with added screening from impacted countries to follow.

Good luck with your own analysis of OMICRON variant.

BLOG does NOT give buy or sell.

Saleem

Indices closed down 2.23% to 2.53%.....

 Indices closed down in reaction to South African variant of COVID-19 which is much more contagious, many countries have banned passengers from that & surrounding countries or who have travelled to those destinations or have been exposed. Nobody was ready for this news thus sharp selling on the news.

S&P 500 @ 4594.62, low 4585.43, high 4664.63

RSI @ 44.44

CMF @ 0.081

Internals were :

Down volume led by 8.14 to 1 in NYSE & 2.42 to 1 in Nasdaq

Declining stocks led by 5.84 to 1 in NYSE & 3.99 to 1 in Nasdaq

Net new 52 wk lows were leading by 264 in NYSE & 310 in Nasdaq

VIX UP 54.04% @ 28.62

Oil @ $69.22

Gold @ $1808.90

Canadian $ @ .7235

Stocks which closed green included SNAP

AFRM ROKU AI DASH BIDU PINS

PFE MRNA NVAX DMNG SNOW

NEM DOCU ZM CRWD DDOG

BYND TWLO AEM NFLX....

Here is my portfolio weighting :

MGM      26.19%

CNX       23.32%

HST       23.13%

SNAP    11.22%

UAL         9.92%

NCLH      6.22% 

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed.....

 Indices closed mixed.

S&P 500 @ 4701.46, high 4702.87, low 4659.89

RSI @ 65.87

CMF @ 0.166

Internals were :

UP volume led by 1.29 to 1 in NYSE & 2.45 to 1 in Nasdaq

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

Net new 52 wk lows were leading by 49 in NYSE & 208 in Nasdaq

VIX Down 4.13% @ 18.58

Oil @ $78.39

Gold @ $1784.30

Canadian $ @ .7339

Portfolio CNX HST MGM SNAP NCLH UAL

 Stocks which closed UP 2% or more included PLTR

XPEV AFRM RIOT SU SQ LSPD BYD ROKU 

NVTA CNQ FUBO AI AMD SNOW PANW

PENN SHOP NTAP PDD NVDA TWLO

BABA DDD LNG MA V TLRY....

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE behaved much better with much better participation from all sector including technology. Indices closed mixed, Internals were also mixed. Jobs picture remained tight. World markets are open on Thursday while USA celebrates Thanksgiving. Friday should be a positive day after recent selling.

BLOG does NOT give buy or sell.

Enjoy your Thanksgiving!!

Next BLOG on Friday around 7 PM....

Saleem