US Stock market @ crossroad......

 Much has changed lately in US stock market....

Interest rates are rising faster than expected...

FANG has lost its strength...

TSLA slumped 24%...

Nasdaq below 50 DMA

TAN / Solar ETF is below 50 DMA

Leadership of stock market is in Airlines, Energy....

The above was not factored by majority of traders or institutions

Everyone is waking up to new reality, that old strategy is failing badly

Here is a look @ RSI for further verification :

JETS             68.31

XLE              63.77

XLF              59.07

SOX             50.35

IWM            50.05

DOW           45.24

S&P 500     43.50

Nasdaq      40.18

TAN           40.26

Anyone can clearly see how leadership in US stock market has changed, weakest sector is TAN, Nasdaq, S&P 500 & DOW....who could have predicted this change so fast......

Airlines and Energy stocks are sitting pretty @ top 2 sectors to be in......many cannot make this change as they are too used to technology day & night......

Markets do change, smart Investors & traders adjust or anticipate coming changes....

DOW & S&P 500 are barely sitting above 50 DMA...a negative open is all its going to take to bring DOW & S&P 500 into below 50 DMA to join Nasdaq....

The above scenario is a reality, not a very healthy picture " technically speaking "

Market does not have any catalyst to power UP only Negatives are lurking....

Please do your own due diligence and act defensively, any bounce needs to be sold, any profit needs to be taken....

Good luck with your own analysis & comfort level.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed with DOW slumping @ close, technically not a good thing, It was a sharp dive in last 15 minutes, does not bode well for Monday's open.

S&P 500 @ 3811.15, low 3789.54, high 3861.08

RSI @ 43.50

CMF @ 0.152

Internals were :

Down volume led by 3.11 to 1 in NYSE & 1.29 to 1 in Nasdaq

Declining stocks led by 1.56 to 1 in NYSE & 1.71 to 1 in Nasdaq

Net new 52 wk lows were leading by 6 in NYSE & 81 in Nasdaq

VIX Down 2.18% @ 28.26

Oil @ $61.50

Gold @ $1728.80

Canadian $ @ .7295

Stocks which were UP 2% or more included MRVL

MGM VUZI TWTR WYNN QRVO SNAP CCL

MSTR RUN AMD DKNG JKS CSIQ PENN

MU NXPI SHOP ROKU TOL ZM CRWD

ESTC KBH ENPH NVAX SEDG MRNA

TER NCLH DHI PHM VICR TWLO

LRCX AMAT MGA CMG.....

In my portfolio :

Added 30% SU @ $20.17

Sold FSLR @ $81.00 in after hour....

Here is my portfolio weighting with 70% exposure :

SQ         31.67%

AAPL    25.02%

MRVL   23.25%

SU       11.21%

CNX     8.85%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed down 1.75% to 3.52%.......

 Indices closed down.

S&P 500 @ 3829.34, low 3814.04, high 3925.02

RSI @ 45.76

CMF @ 0.167

Internals were :

Down volume led by 5.36 to 1 in NYSE & 4.96 to 1 in Nasdaq

Declining stocks led by 6.71 to 1 in NYSE & 7.33 to 1 in Nasdaq

Net new 52 wk highs were leading by 250 in NYSE & 158 in Nasdaq

VIX UP 35.38% @ 28.89

Oil @ $63.53

Gold @ $1715.40

Canadian $ @ .7469

In my portfolio :

Sold BB in last few minutes of closing @ $10.50

Bought SU @ $20.85

Portfolio AAPL CNX FSLR MRVL SQ SU

Stocks which closed green included TWTR MRNA PFE

IQ BZUN FFIV GME IRBT ORCL M....

AH Futures Down

AH Asian Markets Down

AH Oil & Gold Down

About market, TAPE was in deep selling frenzy due to 10 year yield of 1.52%. There was no place to hide anywhere Sell Sell Sell was the theme by everyone. Nasdaq closed below 50 DMA. DOW, S&P 500, SOX & IWM were above 50 DMA. Based on RSI stated above we may need to go below 40 to ensure a firm bottom.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .99% to 1.35%....NICE !!!!

 Indices closed UP.

S&P 500 @ 3925.43, high 3928.65, low 3859.60

RSI @ 61.41

CMF @ 0.157

Internals were :

UP volume led by 3.28 to 1 in NYSE & 3.19 to 1 in Nasdaq

Advancing stocks led by 2.09 to 1 in NYSE & 2.59 to 1 in Nasdaq

Net new 52 wk highs were leading by 490 in NYSE & 345 in Nasdaq

VIX Down 7.66% @ 21.34

Oil @ $63.22

Gold @ $1797.90

Canadian $ @ .7459

In my portfolio :

Sold SU @ $21.57 in after hours

Added 70% CNX @ $13.30

Portfolio AAPL BB CNX FSLR MRVL SQ

Stocks which were UP 3% or more included BB CNX

ACB AG QRVO PAAS SWKS APA TECK AAL NIO

MGNI RIOT MSTR RIDE SPWR CSIQ GOOS ZI

TOL HST ENPH CVX KRA TER NCLH BA LSCC

ASML TSLA LRCX UAL AMAT GME OXY SLB

JKS MU MA MS V X TLRY....

AH Futures Mixed

AH Asian Markets UP

AH Oil UP

AH Gold Down

About market, TAPE closed strong near high of the day, Internals were Strong. Many sectors participated in today's rally. Oil made another 13 month high indicating economic revival is in full swing. Airlines, cruise lines, energy all were leaders in gains.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 3881.37, high 3895.98, low 3805.59

RSI @ 54.83

CMF @ 0.063

Internals were :

Down volume led by 1.03 to 1 in NYSE & 3.38 to 1 in Nasdaq

Declining stocks led by 1.58 to 1 in NYSE & 2.61 to 1 in Nasdaq

Net new 52 wk highs were leading by 234 in NYSE & 161 in Nasdaq

VIX Down 1.45% @ 23.11

Oil @ $61.67

Gold @ $1805.90

Canadian $ @ .7388

Portfolio AAPL BB CNX FSLR MRVL SQ SU

Stocks which closed green included CNX FSLR SU

MGM WYNN TWTR SNAP APA CNQ AAL CCL

PINS SPWR MU INTC PENN ZI TOL DAL MTCH 

UBER TD BMO ENPH JD CVX SEDG DHI PHM 

IQ LULU BZUN TWLO FB AMZN UAL AMAT

GOOG NFLX LNG YELP LVS MA V M.....

AH Futures UP

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, TAPE was in a freefall on yield & inflation jitters which Fed addressed in a convincing manner in testimony. Market did a very convincing V shape UP move getting green all over except in Nasdaq closing number. In my opinion, technology is back in vogue and may outperform in the near term. XLE made a new high today while other Indices were struggling.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 3876.50, low 3874.71, high 3902.92

RSI @ 54.03

CMF @ 0.072

Internals were :

Down volume led by .80 to 1 in NYSE & 1.68 to 1 in Nasdaq

Declining stocks led by 1.13 to 1 in NYSE & 1.62 to 1 in Nasdaq

Net new 52 wk highs were leading by 434 in NYSE & 351 in Nasdaq

VIX UP 6.35% @ 23.45

Oil @ $61.49

Gold @ $1808.40

Canadian $ @ .7390

In my portfolio :

Sold MGM @ $37.60 in closing minutes

Bought SQ @ $267.70 in closing minutes

Added 130% CNX @ $13.04 in closing minutes

Portfolio AAPL BB CNX FSLR MRVL SQ SU

Stocks which closed green included SU MGM

WYNN LVS AG PAAS APA CNQ TECK AAL

CCL MGNI SCHW FCX CLF IBM GOLD DAL

CVX EAT KRA ELF NCLH AEM UAL OXY

SLB YELP V X M ULTA MA MGA ORCL...

AH Futures UP

AH Asian Markets UP

AH Oil & Gold UP

About market, TAPE was in a deep slump on rising rates. Technology took it on the chin and oil roared higher giving energy stocks big boost. Gold & Silver also were UP along with base metals. Gaming, Airlines & Cruise lines were cruising @ full speed. Bit coin  were in sell sell mode. Rotation were in full swing.

BLOG does NOT give buy or sell.

Saleem

US Stock Market in sector rotation mode.....

 Rotation is the name of the game in US stock market.

You may be very surprised which sector is the strongest NOW....

Nasdaq, Russell 2000 is resting a bit

Here are the RSI numbers for our discussion :

XLE        65.36

SOX        63.61

IWM       63.47

DOW      61.91

Nasdaq   60.69

S&P 500 60.20

SLV        55.09

TAN       45.89

As you can clearly see XLE energy stocks are performing the-best in number one spot, many traders are ignoring this biggest beneficiary of reopening world economy.

Biggest bargain is TAN solar stocks have corrected all the excess and may be ready to move higher.

SLV or silver stocks may be the big wild card now as it is an industrial metal used in many many application.

All base metals are @ 9 year high.

Lumber @ 9 year high

Economy is going to come alive sooner than expected.

Biggest gains have been in non technology stocks and going forward

Technology may have to fight for 3rd or 4th best idea

Markets go through many changes, currently writing is on the Wall & Broad street...it is the base metals, lumber, energy, casino stocks fighting for number 1 spot...

Many traders are technology focus, that needs to be changed as of November election....many new ideas are being floated around, infrastructure, energy could do well.

Worldwide there is a housing boom due to work from home which is being accepted for all time, a shift which has been played out in stay home stocks.....

Bill Gates a promoter of science / medicine is predicting almost normalcy by September 2021 which is only 6 months away......

Trips to Las Vegas, Macao & Singapore casinos may be the biggest beneficiary IF rules are relaxed due to containment of COVID-19

Please adjust your trading strategy to benefit from rolling the dice on economic resurgence.

Good luck with your own strategy & comfort level.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed on a day when new $1.9 trillion stimulus was in focus and economy reopen stocks did well. It was a broad based performance by internals. Advancing stocks led decliners by 2 to 1. Old FANG were left behind, new techs did fine as well as stay home were mixed.

S&P 500 @ 3906.71, low 3903.07, high 3930.41

RSI @ 60.20

CMF @ 0.123

Internals were :

UP volume led by 2.09 to 1 in NYSE & 3.10 to 1 in Nasdaq

Advancing stocks led by 1.SWKS 87 to 1 in NYSE & 2.12 to 1 in Nasdaq

Net new 52 wk highs were leading by 311 in NYSE & 189 in Nasdaq

VIX Down 1.96% @ 22.05

Oil @ $59.24

Gold @ $1777.40

Canadian $ @ .7401

Stocks which were UP 2% or more included MGM MRVL

SQ WYNN SNAP SWKS APA TECK AAL CCL MGNI

FCX CLF MSTR RUN SPWR DKNG MU LYFT NXPI

PENN SHOP ROKU CGC HST NTAP KBH ENPH

EAT NCLH BA BZUN LRCX UAL AMAT SLB LNG

YELP LVS MGA OSTK X M TLRY....

In my portfolio added 60% SU @ $19.00

Here is my portfolio weighting :

MGM      28.33%

AAPL      22.94%

MRVL     21.39%

FSLR     12.85%

SU           6.48%

BB           5.90%

CNX        2.11%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .38% to .72%.....

 Indices closed down.

S&P 500 @ 3913.97, low 3885.03, high 3921.98

RSI @ 61.77

CMF 0.155

Internals were :

Down volume led by 2.99 to 1 in NYSE & 1.76 to 1 in Nasdaq

Declining stocks led by 2.30 to 1 in NYSE & 2.53 to 1 in Nasdaq

Net new 52 wk highs were leading by 122 in NYSE & 127 in Nasdaq

VIX UP 4.60% @ 22.49

Oil @ $60.52

Gold @ $1775.00

Canadian $ @ .7290

In my portfolio Bought SU @ $19.25

Portfolio AAPL BB CNX FSLR MGM MRVL SU

Stocks which closed green included MGM MRVL

TWTR SNAP TECK SCHW DASH IBM SNOW 

MU GOOS NEM DOCU ZI MTCH DDOG EAT

UPS NKE IQ MCD TWLO AMZN FEYE LVS

MA V.....

AH Futures Down

AH Asian Markets Down

AH Oil & Gold Down

About market, TAPE is digesting gains from all time highs. Unemployment claims rose more than expected thus a downward move in markets, most sectors were down and internals were mostly negative. Oil went to new 13 months high but closed lower. Testimony of Robinhood debacle dominated TV screens whole day.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed.....

 Indices closed mixed.

S&P 500 @ 3931.33, low 3900.43, high 393361

RSI @ 65.58

CMF @ 0.162

Internals were :

Down volume led by 1.29 to 1 in NYSE & 1.26 to 1 in Nasdaq

Declining stocks led by 1.42 to 1 in NYSE & 1.60 to 1 in Nasdaq

Net new 52 wk highs were leading by 244 in NYSE & 220 in Nasdaq

VIX UP .19% @ 21.50

Oil @ $61.14

Gold @ $1772.80

Canadian $ @ .7282

In my portfolio Bought CNX @ $14.03

Portfolio AAPL BB CNX FSLR MGM MRVL

Stocks which were UP 1% or more included CNX

SU CCL FUBO RIOT FCX CLF GOOS JD CVX

NVAX BMO SEDG NKE AMZN OXY LNG 

AMZN....

AH Futures Mixed

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE was under pressure from economic data which may be predicting higher inflation, retail sales was better than expected. DOW made a new all time closing high. Oil & Nat Gas kept climbing up on cold cold Texas where refineries are located. Northeast also in cold & snow.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 3932.59, low 3923.85, high 3950.43

RSI @ 65.86

CMF @ 0.151

Internals were :

UP volume led by 1.40 to 1 in NYSE & 1.83 to 1 in Nasdaq

Advancing stocks led by .94 to 1 in NYSE & 1.12 to 1 in Nasdaq

Net new 52 wk highs were leading by 703 in NYSE & 599 in Nasdaq

VIX UP 7.46% @ 21.46

Oil @ $60.05

Gold @ $1799.00

Canadian $ @ .7302

In my portfolio :

Added 80% MRVL @ $54.00, Added 120% MRVL @ $53.45

Added 50% MGM seconds before close @ $35.18

Sold CNX @ $13.80

Sold SU @ $18.70

Portfolio AAPL BB FSLR MGM MRVL

Stocks which closed green included CNX SU

SQ TWTR WYNN SNAP SWKS APA TECK 

CNQ SCHW RIOT FCX BIDU PINS CGC ZM

PDD JD CVX NCLH BA NVDA UAL DAL YY

OXY LVS MS ULTA X TLRY ACB.....

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE was mixed with intraday all time highs in DOW, Nasdaq & S&P 500. Internals were mostly strong. Oil & Nat gas rose to new highs after snow & shutdown of refinery in Texas. Northeast was in snow & cold spell. Interest rate rose to its highest level in 10yr causing weakness in housing stocks.

BLOG does NOT give buy or sell.

Saleem

US stock market rotation in full swing......

 US stock market showing mixed picture.....

Russell 2000 & Nasdaq in overbought territory...

Gold deeply oversold....

Silver also oversold...

S&P 500, Nasdaq, DOW & SOX all in new all time high territory..

XLE looking very strong based on direction of Oil & Natural Gas...all in new 13 months high today....

TAN also looking attractive now...

As noted above, market rotation is happening @ a rapid pace...

This market has defied logic since October lows, it has been 4 months of rapid uptrend in many @ home stocks which has quadrupled in most cases.

Gaming stocks like MGM has surprised many naysayers by hitting new 52 wk high in this difficult environment of very little business, but participation is expected to rapidly improve starting just about now.....entire gaming industry will benefit many stocks will jump like WYNN LVS++++

Biggest question is how to participate in this changing / rotation stock market....

My suggestion is to have a diversified portfolio of many new sectors which will greatly benefit from economy opening up worldwide.

Vaccines are given rapidly in USA, UK, India which may change opening hurdles very soon.

China is almost back to pre pandemic economy......

No matter which market, I always make buying / selling decision based on relative RSI...a very good trading tool.....

There are many technical indicators, some are flashing sell sell sell now .....like bull bear ratio++

BUT some sectors are getting all warmed UP...focus on those NOT on market.....

Sometimes minor pullbacks in upcoming sectors in a market selloff is a smart strategy....

Show patience and conviction in your high comfort stocks / sectors..

Good luck with your own thesis and comfort level.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .09% to .50%....NICE !!!!

 Indices closed UP despite interest rate is @ highest level since pandemic. DOW, S&P & Nasdaq closed @ new all time high.

S&P 500 @ 3934.38, high 3937.23, low 3905.78

RSI @ 66.31

CMF @ 0.136

Internals were :

UP volume led by 1.94 to 1 in NYSE & .92 to 1 in Nasdaq

Advancing stocks led by 1.35 to 1 in NYSE & 1.22 to 1 in Nasdaq

Net new 52 wk highs were leading by 461 in NYSE & 387 in Nasdaq

VIX Down 6.02% @ 19.97

Oil @ $59.47

Gold @ $1823.20

Canadian $ .7302

Stocks which closed UP 3% or more included BB CNX MRVL

TWTR FUBO SCHW RIOT CIIC DKNG PENN GOOS

CRWD KRA TER MOMO AMAT IRBT.....

My portfolio weighting :

AAPL        22.16%

SU            20.94

MGM       17.29%

CNX        14.57%

FSLR      13.21%

BB             6.54%

MRVL       5.29%

Next post on Monday by 6 PM as markets are closed in USA & Canada on Monday.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 3916.38, high 3925.99, low 3890.39

RSI @ 64.43

CMF @ 0.086

Internals were :

Down volume led by 1.39 to 1 in NYSE & 1.43 to 1 in Nasdaq

Declining stocks led by 1.08 to 1 in NYSE & 1.23 to 1 in Nasdaq

Net new 52 wk highs were leading by 477 in NYSE & 417 in Nasdaq

VIX Down 3.37% @ 21.25

Oil @ $58.24

Gold @ $1826.80

Canadian $ @ .7318

Portfolio AAPL BB CNX FSLR MGM MRVL SU

Stocks which were UP 1% or more included MRVL

SQ TWTR SWKS CNQ PINS RUN SPWR JKS MU 

INTC NXPI GOOS TOL CRWD KBH SEDG KRA 

MRNA TER IQ HUYA MOMO LULU TSM YY

LRCX AMAT YELP MA V OSTK....

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE closed mixed with internals on the weak side. Oil pulled back after 13 month high and pot stocks came down to earth with major losses. Earnings AH are mostly good which has been the case. Friday could be soft.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed.

 Indices closed mixed

S&P 500 @ 3909.88, low 3884.94, high 3931.50

RSI @ 63.76

CMF @ 0.078

Internals were :

UP volume led by 1.24 to 1 in NYSE & 2.22 to 1 in Nasdaq

Advancing stocks led by 1.11 to 1 in NYSE & .78 to 1 in Nasdaq

Net new 52 wk highs were leading by 621 in NYSE & 632 in Nasdaq

Oil @ $58.68

Gold @ $1842.70

Canadian $ @ .7318

In my portfolio ..added 25% BB @ $13.00

Portfolio AAPL BB CNX FSLR MGM MRVL SU

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

TWTR WYNN APA TECK CNQ CLF DASH RIDE BIDU

PINS LYFT SHOP CGC MTCH UBER PDD HUYA YY

NVDA OXY SLB ACB TLRY WYNN LVS....

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE was mixed with DOW closing @ new all time high. There was Reddit frenzied buying in Pot stocks which shot them UP almost 40% in most cases. Oil @ 13 month high gave lift to oil, gas stocks. Rotation is happening on a daily basis.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed...

 Indices closed mixed.

S&P 500 @ 3911.23, low 3902.64, high 3918.35

RSI @ 63.99

CMF @ 0.097

Internals were :

UP volume led by .94 to 1 in NYSE & 3.33 to 1 in Nasdaq

Advancing stocks led by 1.54 to 1 in NYSE & 1.44 to 1 in Nasdaq

Net new 52 wk highs were leading by 631 in NYSE & 646 in Nasdaq

VIX UP 1.84% @ 21.63

Oil @ 458.36

Gold @ $1837.50

Canadian $ @ .7284

Portfolio AAPL BB CNX FSLR MGM MRVL SU    

Stocks which were UP 1% or more included FSLR

ACB TWTR MGNI RIOT AI MSTR DASH RUN

BIDU NIO SPWR SNOW CSIQ HEXO DOCU 

SHOP CGC ZM DDOG CRON ENPH SEDG

JD EAT IQ HUYA MOMO BZUN MCD FB

SPLK BABA NFLX YY ROKU YELP CNG

OSTK TLRY.....

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE closed mixed despite being UP most day. Nasdaq closed @ new all time high while DOW & S&P 500 made new intraday all time high. Internals were mostly positive. AH earnings were mostly better than expected except CSCO.

BLOG does NOT give buy or sell.

Saleem

    

Indices closed UP .74% to .95%....NICE !!!!

 Indices closed UP

S&P 500 @ 3915.59, high 3915.77, low 3892.59

RSI @ 64.69

CMF @ 0.081

Internals were :

UP volume led by 3.02 to 1 in NYSE & 7.65 to 1 in Nasdaq

Advancing stocks led by 3.20 to 1 in NYSE & 3.51 to 1 in Nasdaq

Net new 52 wk highs were leading by 692 in NYSE & 697 in Nasdaq

VIX UP 1.77% @ 21.24

Oil @ $57.97

Gold @ $1834.20

Canadian $ @ .7240

In my portfolio added 20% SU @ $17.35

Portfolio AAPL BB CNX FSLR MGM MRVL SU

Stocks which were UP 3% or more included BB FSLR MGM MRVL 

SQ AG TECK MGNI RIOT CLF NIO AMD SPWR GAN MU NXPI

SHOP DAL KBH APHA NVAX SEDG KRA MRNA DHI BZUN TSM

UAL AMAT OXY SLB NTNX OSTK ULTA LRCX MSTR TLRY ACB.

AH Futures Mixed

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE was strong and closed @ high of the day. DOW, S&P 500 and Nasdaq closed @ new all time high. Internals were strong after a long time. Many sectors have resumed their positive trend again.

BLOG does NOT give buy or sell.

Saleem

US stock market in new uptrend.....

 US stock market has regained momentum after Reddit distraction which almost shocked big money and regulators.

Reddit exposed the abuse of short trading strategy where hedge funds went overboard and bragged about their short position in media and scared small investors.

Reddit gave small investors collective power of pooling funds to alter or impose their will on stock market.

Reddit also exposed how flimsy Robinhood set up was as they had to stop trading in many stocks and had to shore up their capital by $3.5 billion dollars.

That was then and this is now.....

S&P 500, Nasdaq and Russell 2000 roared into all time highs once everybody understood that power to manipulate stocks are now in many arenas and can result in huge losses IF not on close watch by regulators.

SO how does US stock market looks now, here is the RSI read now :

Russell 2000 70.40

Nasdaq          67.60

S&P 500        62.15

XLF               60.48

XLE               58.90

DOW             58.87

TAN               58.17

SLV               54.48

SOX              53.37

GLD             39.78

As you can see only Russell 2000 is touching 70 which is overbought territory. You can also see that rotation is @ play where SOX has fallen to 2nd weakest sector while Nasdaq is @ all time high.

This is a typical stock pickers market now.

All boats are not lifting now....

Most boats are digesting gains....

After doing fundamental research, it is time to put weight on fundamental research and be patient as some sectors are building a very long base like energy stocks......

Instead of daytrading, it is time to show conviction and be a very long time investor.

Market profile has changed, good ideas will work big time eventually.

Good luck with your own strategy and research.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .30% to .57%...NICE !!!!

 Indices closed UP on stimulus and rapid vaccine implementation. S&P 500, Nasdaq & Russell 2000 all closed @ new all time high. Internals were solid. Oil @ 12 month peak.

S&P 500 @ 3886.83, high 3894.56, low 3874.93

RSI @ 62.15

CMF @ 0.081

Internals were :

UP volume led by 2.39 to 1 in NYSE & 1.63 to 1 in Nasdaq

Advancing stocks led by 2.33 to 1 in NYSE & 1.90 to 1 in Nasdaq

Net new 52 wk highs were leading by 510 in NYSE & 459 in Nasdaq

VIX Down 3.77% @ 20.95

Oil @ $56.85

Gold @ $1813.00

Canadian $ @ .7214

Stocks which were UP 2% or more included BB MGM

AG SNAP CNQ MGNI MSTR BIDU PINS SPWR

AN PENN ZI PLAN SHOP TOL PHM KBH ZM

MTCH DDOG NKE BZUN YY LNG WYNN LVS 

OSTK ULTA.....

In my portfolio Bought MRVL in pre market @ $50.50

Here is my portfolio weighting :

AAPL     24.01%

SU        18.28%

MGM    17.71%

CNX     15.23%

FSLR   13.86%

BB         5.57%

MRVL   5.24%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 1.08% to 1.23%...NICE!!!!

 Indices closed UP.

S&P 500 @ 3871.74, high 3872.42, low 3836.66

RSI @ 60.78

CMF @ 0.104

Internals were :

UP volume led by 2.76 to 1 in NYSE & 1.76 to ! in Nasdaq

Advancing stocks led by 2.52 to 1 in NYSE & 2.76 to 1 in Nasdaq

Net new 52 wk highs were leading by 319 in NYSE & 328 in Nasdaq

VIX Down 4.98% @ 21.77

Oil @ $56.23

Gold @ $1791.20

Canadian $ @ .7166

In my portfolio :

Bought AAPL in pre market @ $136.25

Bought SNAP @ $58.58

Sold SNAP in AH @ $54.25

Portfolio AAPL BB CNX FSLR MGM SU

Stocks which were UP 2% or more included AAPL MGM

SQ MGNI FUBO CLF AI MSTR BIDU DKNG GAN MU

LYFT NXPI TWTR PENN GOOS DOCU ZI PLAN PDD

MTCH EAT MRNA TER NCLH BZUN LRCX NFLX

SLB AMAT MA MS ULTA V M .....

AH Futures UP

AH Asian Markets UP

AH Oil & Gold UP

About market, TAPE celebrated better jobless claims number causing Gold to tumble, Indices closed near high of the day. Internals were positive. It was a broad based rally today with most sectors participating. It is all about Jobs data @ 830 AM which may determine direction of market.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 3830.17, high 3847.51, low 3816.68

RSI @ 56.76

CMF @ 0.066

Internals were :

UP volume led by 2.03 to 1 in NYSE & 3.74 to 1 in Nasdaq

Advancing stocks led by 1.47 to 1 in NYSE & 1.62 to 1 in Nasdaq

Net new 52 wk highs were leading by 221 in NYSE & 260 in Nasdaq

VIX Down 10.37% @ 22.91

Oil @ $55.73

Gold @ $1835.10

Canadian $ @ .7230

In my portfolio :

In pre market added 50% BB @ $11.20

Sold SQ @ $231.00 in After hours

Portfolio BB CNX FSLR MGM SU

Stocks which were UP 3% or more included BB CNX SU

APA CNQ SLB OXY MSTR RIDE PINS RUN NIO ZI

DADA HEXO CGC ACB TLRYDDOG PDD NVAX

BA MOMO BZUN BABA YY GOOG JWN LVS MGA

MRNA OSTK M .....

AH Futures UP

AH Asian Markets Down

AH Oil UP

AH Gold Down

About market, Indices closed mixed as earnings reaction has been mixed @ best, tonight its even split between good & misses. Earnings are winding down and market may be looking ahead to change in economic environment with vaccine deployment in full swing. Market may need to digest gains of last 3 euphoric months. Energy stocks may give some spark to hungry traders as oil is heading north in a decisive manner.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 1.39% to 1.57%....NICE !!!!

 Indices closed UP.

S&P 500 @ 3826.31, high 3843.09, low 3791.84

RSI @ 56.38

CMF @ 0.093

Internals were :

UP volume led by 1.67 to 1 in NYSE & 1.43 to 1 in Nasdaq

Advancing stocks led by 2.93 to 1 in NYSE & 2.95 to 1 in Nasdaq

Net new 52 wk highs were leading by 190 in NYSE & 210 in Nasdaq

VIX Down 15.46% @ 25.56

Oil @ $54.76

Gold @ $1833.40

Canadian $ @ .7179

Portfolio BB CNX FSLR MGM SQ SU

Stocks which were UP 2% or more included MGM SQ

CNQ CCL MGNI RIOT BIDU SNAP PINS DKNG 

GAN SNOW PANW LYFT NXPI TWTR DOCU

PLAN SHOP CGC TOL ESTC UBER DDOG

ENPH PDD TER NKE LULU NVDA TWLO

TSLA LRCX NTNX CSIQ JKS WYNN LVS

MA MS V MSTR TLRY ACB.....

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE was strong as institutions and hedge funds funds took control of market, down went all speculative stocks big time. Most sectors participated in today's rally like good old days. Internals were all positive. Stimulus will move with or without full support.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .76% to 2.55%...NICE !!!!

 Indices closed UP.

S&P 500 @ 3773.86, high 3784.32, low 3725.62

RSI @ 50.86

CMF @ 0.062

Internals were :

UP volume led by 4.47 to 1 in NYSE & 4.60 to 1 in Nasdaq

Advancing stocks led by 3.67 to 1 in NYSE & 3.49 to 1 in Nasdaq

Net new 52 wk highs were leading by 133 in NYSE & 111 in Nasdaq

VIX Down 8.61% @ 30.24

Oil @ $53.55

Gold @ $1863.90

Canadian $ @ .7170

Portfolio BB CNX FSLR MGM SQ SU

Stocks which were UP 3% or more included BB

PAAS SWKS APA AG MGNI FUBO SCHW

FCX CIIC SNAP PINS GAN SNOW MSFT

PANW QRVO NXPI TWTR DADA PLAN

SHOP MTCH UBER PDD SEDG EAT KRA

TER XLNX TSM TWLO TSLA LRCX YY

AMZN BABA ROKU AMAT TLRY....

AH Futures UP

AH Asian markets UP

AH Oil & Gold UP

About market, TAPE went into bullish mode when Robinhood announced removal of 42 stocks from restricted list, only 8 were left with relaxed restriction allowing BB buyers to purchase 700 shares vs 1 share previously. Also Robinhood got additional 2.5 billion liquidity, all that meant boosting investors confidence that system is not under stress. Many stocks participated with most bullish action in Silver stocks.

BLOG does NOT give buy or sell.

Saleem