Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 3972.89, high 3994.41, low 3966.98

RSI @ 58.35

CMF @ 0.058

Internals were :

UP volume led by .82 to 1 in NYSE & 1.95 to 1 in Nasdaq

Advancing stocks led by 1.36 to 1 in NYSE & 1.83 to 1 in Nasdaq

Net new 52 wk highs were leading by 219 in NYSE & 57 in Nasdaq

VIX Down 1.07% @ 19.40

Oil @ $59.16

Gold @ $1713.80

Canadian $ @ .7423

In my Portfolio...Added 70% MGM @ $37.85

Portfolio AAPL HST MGM NIO SQ SU TSM

Stocks which were UP 2% or more included NIO SQ TSM

ROKU PYPL VUZI QRVO SNAP SWKS MGNI MSTR 

CLF PINS RUN AMD SPWR ENPH SEDG GAN SNOW

SHOP DDOG TER LSCC BYND TSLA LRCX AMAT

MRNA X TLRY ACB.....

AH Futures UP

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE surprised everyone with old and much hated technology stocks were leading for 2nd day in a row by closing Nasdaq strongest. This change was not expected by many. Internals were positive for the most part. VIX hitting lowest level in many months. Oil trying to find support.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .11% to .32%....

 Indices closed down.

S&P 500 @ 3958.55, low 3944.35, high 3968.01

RSI @ 56.71

CMF @ 0.034

Internals were :

UP volume led by 1.81 to 1 in NYSE & 2.03 to 1 in Nasdaq

Advancing stocks led by 1.48 to 1 in NYSE & 1.46 to 1 in Nasdaq

Net new 52 wk highs were leading by 109 in NYSE & lows by 29 in Nasdaq

VIX Down 5.45% @ 19.61

Oil @ $60.55

Gold @ $1683.90

Canadian $ @ .7371

Portfolio AAPL HST MGM NIO SQ SU TSM

Stocks which were UP 2% or more included 

HST MGM NIO SQ

ROKU VUZI NCLH FSLR 

CSIQ JKS ENPH RUN RCL AAL

CCL MGNI RIOT CLF MSTR BIDU

SPWR DKNG PENN DAL PDD BZUN

UAL QS IQ SOL MGA X M .....

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE drifted lower marking time for Infrastructure spending details. In the end by close it was almost constructive with many sectors were in green. Internals were all positive. Cathie Wood new ETF came with a huge yawn, a hodge podge of many stocks. Wednesday looking much better.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 3971.09, low 3943.25, high 3981.83

RSI @ 58.59

CMF @ -0.013

Internals were :

Down volume  led by 1.99 to 1 in NYSE & 2.14 to 1 in Nasdaq

Declining stocks led by 1.93 to 1 in NYSE & 3.09 to 1 in Nasdaq

Net new 52 wk highs were leading by 263 in NYSE & 57 in Nasdaq

VIX UP 9.97% @ 20.74

Oil @ $61.52

Gold @ $1712.20

Canadian $ @ .7406

Portfolio AAPL HST MGM NIO SQ SU TSM

Stocks which closed green included AAPL

TWTR MSTR PINS PANW NEM UPS 

NKE BA LULU NVDA MCD FB AMZN

BABA GOOG NFLX ORCL ULTA V X...

AH Futures Mixed

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE behaved better than expected due to $20 Billion margin call a non event but got too much TV time and analysis. Internals were weak. FANG did well in a dull TAPE. Oil closed UP despite opening of Suez Canal. Looks like a productive Tuesday coming UP.

BLOG does NOT give buy or sell.

Saleem

US Stock market ready to move UP.....

 It has been 9 weeks of churning in stock market where most high flying super stocks have shed about 30% of their lofty valuations.

Reasons given were many but none of them made any sense except when valuations does not reflect reality, stocks have to come down in a hurry.

There was multiple expansion initially then multiple of earnings became multiple of sales, that is when trouble starts in every market, when most common trading strategy becomes " its different this time "

When RSI is ignored and sentiment is ignored...trouble cannot be far away....

10 year rate of 1.75% is being pinned as disaster....what a joke.....it is a reflection as we are transitioning from " Covid-19 driven economy to vaccine driven economy " yes there is a difference between the two...

In 3 weeks we went from 3950.43 in S&P 500 ...to 3723.34 loss of 227.09 points or a quick loss of 5.75% ....it was a better performing picture of all indices....

Nasdaq has taken a huge plunge from February 16 to March 8th a slump of 1778.07 points or a sharp fall of 12.54%....in 3 straight weeks.....10% loss is known as correction....

Hopefully we have discounted the change in economic picture of US.....most stocks have reacted positively to improving economic activity ......

All the churning which resulted in Nasdaq moving sharply lower along with Russell 2000 while Energy, Cruise Lines, Airlines, Casinos kept moving UP...seems to be in balance in terms of valuation for now.

Wall Street always gives new words to worry about like 10 year rate or Fed Funds rate...BUT they are an ongoing and changing scenarios reflecting economic malaise or resurgence...nothing more...

IF you have a balanced portfolio of higher near term earnings your portfolio is ready to benefit vs those @ home stocks which have borrowed from future in terms of earnings, in plain English some @ home stocks may show declining rate of earnings increase...quarter over quarter comparison may not be healthy...

Good luck with your own thesis and comfort level.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 1.24% to 1.66%.....NICE !!!!

 Indices closed UP despite uptick in 10 year yield. This was the-most constructive close since 10 yr yield debate. Indices closed @ high of the day. Internals were mostly positive.

S&P 500 @ 3974.54, high 3978.19, low 3917.12

RSI @ 59.09

CMF @ -0.004

Internals were :

UP volume led by 2.20 to 1 in NYSE & 1.12 to 1 in Nasdaq

Advancing stocks led by 3.31 to 1 in NYSE & 1.80 to 1 in Nasdaq

Net new 52 wk highs were leading by 221 in NYSE & 33 in Nasdaq

VIX Down 4.80% @ 18.86

Oil @ $60.97

Gold @ $1732.30

Canadian $ .7417

Stocks which were UP 2% or more included SQ TSM

APA CNX PYPL MRVL QCOM QRVO SWKS FCX

TECK SPWR JKS ENPH FSLR CSIQ MU NXPI

TOL PHM NKE NVDA LRCX AMAT OXY SLB

LNG V X....

Here is my portfolio weighting :

AAPL     26.87%

SQ         25.24%

TSM      15.50%

SU          9.44%

NIO        8.00%

MGM     7.83%

HST       7.12%

Next post by 6 PM on Sunday

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .12% to .62%....NICE !!!

 Indices closed UP.

S&P 500 @ 3909.52, high 3919.54, low 3853.50

RSI @ 51.90

CMF @ -0.068

Internals were :

UP volume led by 3.22 to 1 in NYSE & 2.41 to 1 in Nasdaq

Advancing stocks led by 1.66 to 1 in NYSE & 1.74 to 1 in Nasdaq

Net new 52 wk lows were leading by 139 in NYSE & 348 in Nasdaq

VIX Down 6.56% @ 19.81

Oil @ $58.56

Gold @ $1725.10

Canadian $ @ .7385

Portfolio AAPL HST MGM NIO SQ SU TSM

Stocks which closed green included

AAPL MGM NIO TSM

CNX NCLH RCL WYNN CNQ AAL

CCL MGNI CLF RIDE IBM SPWR JKS

SNOW NXPI PENN CIEN CGC ACB TLRY

TOL DAL EAT KRA PHM UAL EXPE JWN

LVS ORCL X M ....

AH Futures UP

AH Asian Markets UP

AH Oil & Gold UP

About market, TAPE finally found support below key technical level for most index / indices. There was buying near support and volume was positive. Hopefully we can build on today's turnaround. Internals were mostly positive. Restart of economy stocks were in vogue today from their support level.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .01% to 2.01%....

 Indices closed down.

S&P 500 @ 3889.14, low 3889.07, high 3942.08

RSI @ 49.31

CMF @ -0.135

Internals were :

Down volume led by 1.94 to 1 in NYSE & 1.96 to 1 in Nasdaq

Declining stocks led by 1.32 to 1 in NYSE & 3.17 to 1 in Nasdaq

Net new 52 wk lows were leading by 49 in NYSE & 244 in Nasdaq

VIX UP 4.43% @ 21.20

Oil @ $61.18

Gold @ $1733.20

Canadian $ @ .7444

In my portfolio....In after hour

Sold 40% SQ @ $213.50

Bought MGM @ $37.10

Portfolio AAPL HST MGM NIO SQ SU TSM

Stocks which closed green included HST SU

APA CNX FSLR WYNN CNQ SCHW IBM 

PFE NEM NTAP CVX BMO DHI ASML

GLD LRCX AMAT OXY SLB LNG MA

MS.....

AH Futures Mixed

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE sank @ close and closed @ low of the day. Internals were extremely negative. Its was not about 10 yr yield anymore it was stable around 1.617% currently in AH. TAPE is seeking some kind of catalyst which its not getting thus negative close for the most part.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .76% to 1.12%....

 Indices closed down.

S&P 500 @ 3910.52, low 3901.57, high 3949.13

RSI @ 52.04

CMF @ -0.046

Internals were :

Down volume led by 5.82 to 1 in NYSE & 2.78 to 1 in Nasdaq

Declining stocks led by 3.42 to 1 in NYSE & 6.63 to 1 in Nasdaq

Net new 52 wk lows were leading by 36 in NYSE & 172 in Nasdaq

VIX UP 7.52% @ 20.30

Oil @ $57.76

Gold @ $1725.10

Canadian $ @ .7467

In my portfolio Sold NVTA @ $40.89

Portfolio AAPL HST NIO SQ SU TSM

Stocks which closed green included CPNG MSFT PANW 

DADA DOCU ZI SHOP ZM IQ LULU AMZN BABA

GOOG NFLX NTNX ORCL CMG...

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE was under selling pressure and closed near low of the day. Most stocks were overextended that is why such a across the board pullback today. Internals have gone into negative and were extremely weak. Tone of the market has changed and has shifted into reality instead of this sector UP or that sector DOWN, its never that simple.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .32% to 1.23%....NICE !!!

 Indices closed UP.

S&P 500 @ 3940.59, high 3955.31, low 3914.16

RSI @ 56.10

CMF @ 0.017

Internals were :

Down volume led by 1.45 to 1 in NYSE & .70 to 1 in Nasdaq

Declining stocks led by 1.18 to 1 in NYSE & 1.25 to 1 in Nasdaq

Net new 52 wk highs were leading by 118 in NYSE & 39 in Nasdaq

VIX Down 9.88% @ 18.88

Oil @ $61.56

Gold @ $1738.10

Canadian $ @ .7467

Portfolio AAPL HST NVTA NIO SB SU TSM

Stocks which were UP 2% or more included AAPL NVTA TSM

ROKU FSLR QCOM SWKS BIDU RUN SPWR CSIQ JKS 

ENPH INTC MSFT PANW DADA ZI SHOP ESTC ASML 

NVDA TSLA LRCX SPLK AMAT NFLX QS SLB ....

AH Futures Mixed

AH Asian Markets UP

AH Oil & Gold Down

About market, TAPE was strange today but Nasdaq was UP for a change and opening stocks took a rest. Internals were very poor but VIX tanked and gave a very bullish read. FANG related technology stocks were green but gave UP half of its gains or more, NOT a clear verdict. We may revert to opening stocks or both tech may join the party.

BLOG does NOT give buy or sell.

Saleem

US Stock market vs 10 yr Interest rate.....

 There is an epic battle brewing between US stock market and 10 year rate which sits @ 1.73%...

When 10 year Interest rate hits 2% which is only 27 tick away...all hell will break lose and end of US stock bull run.....

IS IT that simple all of a sudden ?

NOT really.....

We have to look @ reasons for spike in 10 year rate in historical terms....

History tells us in last 5 years 10 yr interest rate averages around 2.25%, high was around 3.25%

SO why are we concerned or losing sleep over 10 year rate, because some pundits and bond strategist told us current spike is bad news.....

Interest rate follows inflation and GDP growth rate...

US economy is reopening thus inflation is rising based on many factors, US dollar weakness is one of them, everything is costing more in US dollar terms.......

By the time everything is almost back to normal 10 year should be around 2.25%...which is normal....

IF there is an overreaction to 2% to 2.25% 10 year rate.....then it will create another buying opportunity..

SO stay calm and let the 10 year go its natural route to 2% area.....

Last week stock market gyrated with every tick UP or DOWN in 10 year rate...It may continue the same until 2% is here which could be sooner than expected, so keep some dry powder handy for buying into weakness.

Among major indices Nasdaq is the weakest followed by SOX...

TAN has taken on the chin as it went UP the-most on green energy euphoria now among the weakest even weaker than Gold which came in number 2 from the bottom.

DOW is the strongest and sits near top of its trading range...

JETS is an absolute winner with RSI @ 65.65

Nasdaq , SOX and TAN below 50 DMA...

GLD is in a " death cross formation " below 200 & 50 DMA....

XLE is above 50 DMA ...

RUSSELL 2000 tested support above 50 DMA.....

XLB remains strong near its high end of its trading range....

Do not be too aggressive until 10 year yield is @ 2.00% or slightly above, patience is required and it may take few attempts to make it above 2%.....

Do some opportunistic trading and lock your profit quickly.

Every 90 days there is a new challenges in stock market and everyone gets all worked UP and then it goes away.....

Good luck with your own strategy and your comfort level.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed with Nasdaq closing in the green to the disappointment of many. Banks were red due to policy inaction by Fed. Internals were mostly positive. 10 yr yield were a touch lower than Thursday.

S&P 500 @ 3913.10, low 3886.75, high 3930.12

RSI @ 52.99

CMF @ -0.038

Internals were :

UP volume led by .87 to 1 in NYSE & 3.12 to 1 in Nasdaq

Advancing stocks led by 1.24 to 1 in NYSE & 1.71 to 1 in Nasdaq

VIX Down 2.92% @ 20.95

Oil @ $61.44

Gold @ $1741.70

Canadian $ @ .7487

Stocks which closed UP 4% or more included NVTA NIO

CNX VUZI FUBO PINS RUN ENPH CSIQ SOL QS

DKNG PENN NVAX HUYA BYND FB OXY 

MSTR....

In my portfolio Added 150% HST @ $17.90

Here is my portfolio weighting :

SQ        41.07%

AAPL   21.92%

TSM    12,45%

SU         8.04%

NIO       7.91%

HST      6.08%

NVTA   2.53%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .46% to 3.02%....

 Indices closed down.

S&P 500 @ 3915.46, high 3969.62, low 3910.86

RSI @ 53.29

CMF @ -0.088

Internals were :

Down volume led by 2.63 to 1 in NYSE & 3.55 to 1 in Nasdaq

Declining stocks led by 3.69 to 1 in NYSE & 3.41 to 1 in Nasdaq

Net new 52 wk highs were leading by 419 in NYSE & 186 in Nasdaq

VIX UP 12.22% @ 21.58

Oil @ $59.73

Gold @ $1732.50

Canadian $ @ .7522

In my portfolio :

Sold MGM @ $40.30

Bought SU @ $22.06

Portfolio AAPL HST NVTA NIO SQ SU TSM

Stocks which closed green included VUZI CPNG

CURLF SCHW CIIC IBM CSIQ LYFT IQ WB

BABA MOMO ORCL MS SINA ULTA X....

AH Futures UP

AH Asian Markets Down

AH Oil & Gas Down

About market, TAPE was under severe selling pressure from Bond crowd who are against fed policies of keeping Fed funds rate @ low low till end of 2023. When market closed Nasdaq was crushed and is below 50 DMA. Oil also was crushed today. Hopefully Friday should be a green close.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .29% to .58%...NICE !!!

 Indices closed UP.

S&P 500 @ 3974.12, high 3983.87, low 3935.74

RSI @ 61.33

CMF @ -0.026

Internals were :

UP volume led by 2.39 to 1 in NYSE & 2.38 to 1 in Nasdaq

Advancing stocks led by 1.33 to 1 in NYSE & 1.46 to 1 in Nasdaq

Net new 52 wk highs were leading by 301 in NYSE & 1.46 to 1 in Nasdaq

VIX Down 2.83% @ 19.23

Oil @ $64.63

Gold @ $1727.10

Canadian $ @ .7522

In my portfolio Bought HST @ $18.24

Portfolio AAPL HST NVTA MGM NIO SQ TSM    

Stocks which were UP 3% or more included HST MGM 

TRIP ROKU VUZI PAAS RIOT FCX CLF MSTR MU

DKNG CGC TOL CRWD KBH DHI PHM TSLA AEM

UAL GS OXY MGA X.....

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE was strong after Fed policy statement and press conference where Fed was firm on creating all lost jobs of 10 million and will run higher inflation and hotter 6% GDP growth. Nasdaq should be on fire with this strategy. Start your technology engine.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed.....

 Indices closed mixed.

S&P 500 @ 3962.71, low 3953.44, high 3981.04

RSI @ 60.25

CMF @ -0.019

Internals were :

Down volume led by 2.96 to 1 in NYSE & 1.86 to 1 in Nasdaq

Declining stocks led by 1.77 to 1 in NYSE & 2.30 to 1 in Nasdaq

Net new 52 wk highs were leading by 532 in NYSE & 259 in Nasdaq

VIX Down 1.20% @ 19.79

Oil @ $64.80

Gold @ $1730.90

Canadian $ @ .7547

In my portfolio ...Added 40% MGM @ $39.80

Portfolio AAPL NVTA MGM NIO SQ TSM

Stocks which closed green included AAPL TSM 

CNX QCOM QRVO SWKS BIDU PINS MU

INTC MSFT NXPI CIEN PDD NVAX MRNA

NVDA FB TWLO LRCX AMZN AMAT 

GOOG NFLX V......

AH Futures Mixed

AH Asian Markets Down

AH Oil UP

AH Gold Down

About market, TAPE clearly displayed that technology is back and closed green. AH Technology stocks earnings were good in CRWD. Internals were weak but VIX closed down and below 20 which is taken as bullish for stocks. Restart stocks went out of favor in a hurry. FANG were in demand and closed green.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .53% to 1.05%...NICE !!!

 Indices closed UP.

S&P 500 @ 3968.94, high 3970.08, low 3923.54

RSI @ 61.11

CMF @ -0.019

Internals were :

UP volume led by 1.69 to 1 in NYSE & 3.59 to 1 in Nasdaq

Advancing stocks led by 1.78 to 1 in NYSE & 1.34 to 1 in Nasdaq

Net new 52 wk highs were leading by 640 in NYSE & 351 in Nasdaq

VIX Down 3.19% @ 20.03

Oil @ $65.39

Gold @ $1729.20

Canadian $ @ .7505

Portfolio AAPL NVTA MGM NIO SQ TSM

Stocks which were UP 2% or more included AAPL MGM SQ

NCLH MRVL ACB TWTR WYNN LVS PENN QRVO CCL

SWKS FUBO DOCU CIEN TOL DAL DDOG ENPH DHI

MRNA PHM NKE BYND NVDA MCD TSLA LRCX UAL

OLED QS JWN AAL HST OSTK CMG M TLRY....

AH Futures Mixed

AH Asian Markets UP

AH Oil Down

AH Gold UP

About market, TAPE surprised most pundits by making Nasdaq the strongest index today. When everyone believes Nasdaq is dead, then you can easily predict it will do the opposite which Nasdaq did. It is a healthy market when most sectors are participating and rotation is very healthy. Market also ignored clot issue with AstraZeneca vaccine which is a good thing.

BLOG does NOT give buy or sell.

Saleem

US Stock market @ crossroad of Value vs growth....

 US stock market is facing a strange phenomenon of value vs growth.

TV pundits are pushing value as IF it is a new vaccine " a cure all for minting money "

Stock market always gives you so many confusing thesis that it is mind boggling....

All my trading life I heard " buy low sell high " nothing more nothing less and it has worked ever since stock trading has started...

There has been many variations of how to make money or invest or trade....all are different in terns of time allocated.

For investors it requires long term commitment generally 5 years or more....

Making money can involve daytrading.....go through 100 trades in a day and hope you have some coins left in your account....

Trading means swing trading, you allocate whatever time it takes to make a profit, hopefully it is here where my style fits in......

For each style of stock market involvement requires focus in different discipline of stocks from biotechs to much hated much maligned " technology stocks "

Every investor / trader is comfortable in different sectors of stocks, some do combine few sectors for better odds....

Back to value vs growth debate... in my world it is all the same....they are all stocks which gives you a chance to make money short term or long term.....

Not all stocks move UP or DOWN @ the same time, yes some sectors are out of favor for few weeks and some in favor....in my world it is called " rotation "...nothing new or earth shattering....

Currently so-called value stocks are " highly overvalued based on RSI " and technology are " deeply oversold " again based on RSI.....

This BLOG has always emphasized relative RSI numbers for switching around or playing rotation within sector or in different sectors..it works in all season irrespective of " genius prophesy on CNBC and in print media "

Here is a list of RSI as it stands now :

XLE         72.85

JETS       72.45

XLF         69.91

DOW       68.86

XLB        65.88

IWM       63.99

S&P 500 58.85

Nasdaq   50.19

SOX       48.45

ARKF    48.01

TAN       46.51

ARKK    44.56

TAN       46.51

I do not have to pin point which sector has enjoyed traders attention in last 3 weeks and which has been played out " for now "

Rotation happens within same trading day in sectors and in oversold sectors to make profit.....

We must pay attention to technical conditions of each sector as it is ascending as it pauses to catch a breath based on RSI.....it is called digesting gains....

SO I keep it it very simple, based on your own trading style and discipline, you can play " buy higher and sell much higher " but it may require more time than what you expect to get returns you are expecting.

I am more into singles with limited risk.....

Those looking for " homerun " need much more time like 6 months to 2 years.....

I feel good in booking profit based on relative performance.

SO value or growth......idea is to make money and not agreeing or disagreeing....

Good luck with your own value vs growth strategy, just make sure, you are not " too late for each party "

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed.....

Indices closed mixed while DOW, S&P 500 & small cap made a new closing all time high, Nasdaq resting below 50 DMA by 47 points. All indices closed near high of the day including Nasdaq.

S&P 500 @ 3943.34, high  3944.99, 3915.21

RSI @ 58.85

CMF @ -0.034

Internals were :

UP volume led by 2.10 to 1 in NYSE & 1.30 to 1 in Nasdaq

Advancing stocks led by 1.24 to 1 in NYSE & 1.14 to 1 in Nasdaq

Net new 52 wk highs were leading by 654 in NYSE & 469 in Nasdaq

VIX Down 5.57% @ 20.69

Oil @ $65.31

Gold @ $1719.80

Canadian $ @ .7527

Stocks which closed green included SQ VUZI SU

TRIP SU NCLH BB MRVL RCL SNAP AAL CCL

CLF SPWR GAN CIEN DAL HST UBER NVAX 

EAT BA UAL EXPE JWN FSLR MS X M....

In my portfolio :

Sold CPNG @ $49.25

Sold CNX @ $15.24

Added 50% SQ @ $238.80

Added 50% NIO @ $43.36 in pre market

Added 200% TSM @ $118.30

Here is my portfolio weighting ;

SQ            43.53%

AAPL       21.76%

TSM        12.76%

MGM      11.20%

NIO         8.18%

NVTA     2.57%

Next post by 6 PM on Sunday

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .58% to 2.52%....NICE !!!

 Indices closed UP.

S&P 500 @ 3939.34, high 3960.27, low 3915.54

RSI @ 58.50

CMF @ -0.055

Internals were :

UP volume led by 2.04 to 1 in NYSE & 6.51 to 1 in Nasdaq

Advancing stocks led by 3.10 to 1 in NYSE & 3.82 to 1 in Nasdaq

Net new 52 wk highs were leading by 721 in NYSE & 418 in Nasdaq

VIX Down 2.88% @ 21.91

Oil @ $66.02

Gold @ $1722.60

Canadian $ @ .7437

In my portfolio :

Sold VUZI @ $18.50

Bought CPNG @ $50.10 in After hours

Portfolio AAPL CNX CPNG NVTA MGM NIO SQ TSM

Stocks which were UP 4% or more included

CPNG NVTA MGM NIO SQ TSM VUZI

TRIP PYPL MRVL FSLR ACB TLRY CGC

QRVO SNAP TECK MGNI FUBO RIOT FCX 

CLF DASH BIDU PINS RUN SPWR SEDG ENPH

AMD SNOW CSIQ MU PENN DOCU SHOP CIEN ZM

CRWD DDOG PDD NVAX MRNA NVDA TWLO TSLA YY 

QS OXY TWTR OSTK X....

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE was strongest I have seen as most sectors participated in a major way with huge gains 11% UP was the norm. Internals were strong. DOW S&P IWM all made a new all time high, Nasdaq also crawled back UP above 50 DMA. Keep rotating from high RSI to relatively lower RSI and keep booking profit.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 3898.81, high 3917.35, low 3885.73

RSI  @ 54.89

CMF @ -0.055

Internals were :

UP volume led by 3.07 to 1 in NYSE & 1.02 to 1 in Nasdaq

Advancing stocks led by 2.97 to 1 in NYSE & 1.79 to 1 in Nasdaq

Net new 52 wk highs were leading by 545 in NYSE & 387 in Nasdaq

VIX Down 6.12% @ 22.56

Oil @ $64.44

Gold @ $1721.80

Canadian $ @ .7353

Portfolio AAPL CNX NVDA MGM NIO SQ TSM VUZI

Stocks which were UP 2% or more included CNX VUZI

SU TECK RIOT CLF PINS RUN IBM DKNG GAN

PENN TOL NTAP UBER ENPH EAT ELF DHI PHM

BA IQ LULU MCD FSR OXY SLB LNG YELPMS

MSTR.....

AH Futures UP

AH Asian Markets UP

AH Oil & Gold UP

About market, TAPE was strong @ open but Nasdaq faded to slight loss. DOW closed @ new all time high. Internals were strong. Nasdaq slight loss is quite positive given its huge runup on Tuesday. For Nasdaq it will be interesting to see how it will fare on Thursday by close.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .10% to 3.69%....NICE !!!!

 Indices closed UP.

S&P 500 @ 3875.44, high 3903.76, low 3851.93

RSI @ 52.68

CMF @ -0.043

Internals were :

UP volume led by 1.33 to 1 in NYSE & 7.29 to 1 in Nasdaq

Advancing stocks led by 1.78 to 1 in NYSE & 2.83 to 1 in Nasdaq

Net new 52 wk highs were leading by 341 in NYSE & 289 in Nasdaq

VIX Down 5.65% @ 24.03

Oil @ $64.01

Gold @ $1716.90

Canadian $ @ .7342

In my portfolio :

Bought VUZI @ $14.49 in pre market

Bought NVTA @ $38.50

Bought TSM @ $115.80

Portfolio AAPL CNX NVTA MGM NIO SQ TSM VUZI

Stocks which closed UP 4% or more included

AAPL NVTA NIO SQ VUZI

MRVL FSLR ACB TWTR QCOM AG QRVO SNAP

SWKS MGNI RIOT CLF MSTR BIDU RUN AMD

SPWR JKS CSIQ NXPI DADA PENN DOCU ZI

ROKU ZM CRWD DDOG ENPH PDD TER YY

NVDA TSLA LRCX NIU OLED QS AMAT 

FB MU OSTK CMG.....

AH Futures Down

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE was strong as 10 year yield came down to 1.55 area, currently @ 1.542 a touch lower than during trading hours. Nasdaq stocks got the bid some were UP around 20% in a day, 10%+++ was more of a norm. There was a sigh of relief as Nasdaq was UP 3.69% @ close. There should be a follow thru to confirm that correction is over in Nasdaq.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed...

 Indices closed mixed.

S&P 500 @ 3821.35, low 3819.25, high 3881.06

RSI @ 47.12

CMF @ 0.004

Internals were :

UP volume led by 1.32 to 1 in NYSE & 1.19 to 1 in Nasdaq

Advancing stocks led by 1.39 to 1 in NYSE & .97 to 1 in Nasdaq

Net new 52 wk highs were leading by 605 in NYSE & 438 in Nasdaq

VIX UP 3.28% @ 25.47

Oil @ $65.05

Gold @ $1678.00

Canadian $ @ .7324

Portfolio AAPL CNX MGM NIO SQ

Stocks which closed UP 1% or more included MGM

NCLH NVTA BB RCL AAL CCL CLF IBM DKNG

TOL DAL HST KRA DHI PHM UAL OLED QS

FSR JWN SLB LVS MA ORCL ULTA V X M...

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE was bullish and bearish depending which Indices we were looking @ Nasdaq was in deep dumps losing 10% in correction territory while DOW was @ new all time high on an intraday basis. Today was the lowest close for Nasdaq. Reopen trade were in vogue today. Tuesday could be very interesting, stay tuned.

BLOG does NOT give buy or sell.

Saleem

US stock market ideal daytrading or swing trading....

US Stock Market texture has changed, many issues are cropping up which is shaking confidence of buy & sleep crowd.

First & foremost is US fed funds rate which is in deep jeopardy, 10 year treasury is in  " deep focus " to shake the will & strategy of Fed chief

10 year is currently @ 1.577% above " so called danger zone of 1.50% "

Stimulus is signed and done which should offset negativity of interest rates, $1400 stimulus check may bring life to many daytraders with this free money and may witness another " reddit phenomenon "

Vaccine is given rapidly all over the world which is extremely positive to bring a " normal trading environment "

Both @ home and restart have been played out to the hilt....

Simplistic trades like Energy stocks are overbought.

SO..it is back to fundamental analysis and technical analysis...an old trading school approach, know what you buy may be in vogue again.

Housing, base metals are all overbought, can be traded on any 10% pullback.

NOW the question is how to find stocks which can be traded, It Is back to my trustworthy RSI, find good stocks which is NOT in 60 or 70 and buy them...

China is @ full throttle and predicting 6% GDP growth which may be very conservative, more like 7% by Q 4.......

World commerce has adjusted through movement of cargo where it is all about Forklift loading and unloading....

Construction / infrastructure of big projects may be the huge focus of every government to boost employment and economy...

Job growth was better than expected in USA...which is a good thing even with disruption in TEXAS area.....economists can never see beyond their adding machine based on past numbers, never good @ projecting change or future.

All in all, we have entered an era of good old homework, know what is happening, instead of quick fix from so called market pundits, they all are " trend follower "

Be more like Cathie Wood,  do your own projection and stick with it, be ahead of the game.

Good luck with your own analysis and comfort level.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 1.55% to 1.95%...NICE !!!!

 Indices closed UP after Indices found support below 50 DMA. Lot of buying came in near lows of the day around 11 AM.

S&P 500 @ 3841.94, high 3851.69, low 3730.19

RSI @ 49.16

CMF @ 0.068

Internals were :

UP volume led by 3.26 to 1 in NYSE & 1.39 to 1 in Nasdaq

Advancing stocks led by 2.86 to 1 in NYSE & 2.12 to 1 in Nasdaq

Net new 52 wk highs were leading by 164 in NYSE & 57 in Nasdaq

VIX Down 13.69% @ 24.66

Oil @ $66.09

Gold @ $1598.50

Canadian $ @ .7329

Stocks which closed green included AAPL CNX SU

MRVL VUZI TWTR WYNN QCOM QRVO SWKS

APA TECK CNQ FCX CLF AI DASH AMD IBM

GAN JKS MU INTC MSFT NXPI TOL UBER

KBH CVX EAT KRA UPS DHI PHM ASML

LULU TSM FB LRCX GOOG OXY AMAT 

YELP MA MGA ORCL ULTA V X ....

In my portfolio :

Sold SU @ $22.00

Added 50% MGM @ $36.40

Added 100% NIO @ $38.70

Here is my portfolio weighting :

SQ         36.26%

AAPL    30.52%

MGM    14.92%

CNX     11.90%

NIO       6.40%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed down 1.11% to 2.11%.....

 Indices closed down.

S&P 500 @ 3768.47, low 3723.34, high 3843.67

RSI @ 40.64

CMF @ 0.060

Internals were :

Down volume led by 2.28 to 1 in NYSE & 3.92 to 1 in Nasdaq

Declining stocks led by 3.79 to 1 in NYSE & 5.62 to 1 in Nasdaq

Net new 52 wk highs were leading by 22 in NYSE & lows by 121 in Nasdaq

VIX UP 7.12% @ 28.57

Oil @ $63.83

Gold @ $1700.70

Canadian $ @ .7412

In my portfolio :

Sold MRVL @ $40.50

Added 60% MGM @ $36.51

Portfolio AAPL CNX MGM NIO SQ SU

Stocks which closed green included CNX SU

APA DASH SNOW LYFT ZM CVX KRA

MRNA FB AEM GOOG GME OXY SLB

LNG....

AH Futures Down

AH Asian Markets Down

AH Oil UP

AH Gold Down

About market, TAPE was in intense selling after Fed chief made some remarks about inflation which disappointed Wall Street. 10 year interest rate after hours is trading @ 1.575% above high of the day, not a scenario which will help stock market on Friday. DOW, S&P 500, Nasdaq SOX all below 50 DMA, technical damage done. Next support 200 DMA, question is will it hold even 200 DMA...stay tuned.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .39% to 2.70%.....

 Indices closed down.

S&P 500 @ 3819.72, low 3818.86, high 3874.47

RSI @ 45.59

CMF @ 0.074

Internals were :

Down volume led by .97 to 1 in NYSE & 2.17 to 1 in Nasdaq

Declining stocks led by 1.30 to 1 in NYSE & 1.95 to 1 in Nasdaq

Net new 52 wk highs were leading by 244 in NYSE & 138 in Nasdaq

VIX UP 10.66% @ 26.67

Oil @ $61.28

Gold @ $1715.80

Canadian $ @ .7386

Portfolio AAPL CNX MGM MRVL NIO SQ SU

Stocks which closed green included CNX MGM SU

RCL WYNN LVS APA CNQ CVX OXY TECK

AAL CCL SCHW RIOT IBM PFE LYFT DAL 

HST UBER TD EAT NCLH BA IQ UAL 

BABA EXPE YELP MGA MS X M....

AH Futures Down

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE was in a sell sell mode in technology stocks, Nasdaq closed below 50 DMA SOX also closed below 50 DMA. All Indices closed @ low of the day. Rotation was very obvious to all participants Energy, Airlines, Cruise lines, Casino & Financials led the green closing stocks.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .46% to 1.69%.....

 Indices closed down.

S&P 500 @ 3870.29, low 3868.57, high 3906.41

RSI @ 51.31

CMF @ 0.147

Internals were :

Down volume led by 1.12 to 1 in NYSE & 1.79 to 1 in Nasdaq

Declining stocks led by 1.36 to 1 in NYSE & 2.66 to 1 in Nasdaq

Net new 52 wk highs were leading by 78 in NYSE & 10 in Nasdaq

VIX UP 3.21% @ 24.10

Oil @ $59.75

Gold @ $1733.60

Canadian $ @ .7385

In my portfolio bought MGM @ $38.60 in closing seconds

Portfolio AAPL CNX MGM MRVL NIO SQ SU

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

RCL AG PAAS CCL FUBO CLF BIDU GOLD CGC 

TOL KBH DHI PHM NCLH AEM LNG LVS MS 

X IQ

AH Futures UP

AH Asian Markets UP

AH Oil UP

AH Gold Down

About market, TAPE was under severe selling pressure in closing minutes, closing near low of the day. Nasdaq was the weakest and closed slightly above 50 DMA. Internals were weak. VIX was slightly higher which is a good thing. Hopefully Wednesday makes up for a bad Tuesday.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 1.95% to 3.01%....NICE !!!!

 Indices closed UP.

S&P 500 @ 3901.82, high 3914.50, low 3842.51

RSI @ 55.34

CMF @ 0.223

Internals were :

UP volume led by 4.95 to 1 in NYSE & 4.98 to 1 in Nasdaq

Advancing stocks led by 3.80 to 1 in NYSE & 4.29 to 1 in Nasdaq

Net new 52 wk highs were leading by 231 in NYSE & 178 in Nasdaq

VIX Down 16.46% @ 23.35

Oil @ $60.64

Gold @ $1723.00

Canadian $ .7343

In my portfolio Bought NIO in AH @ $46.70

Portfolio AAPL CNX MRVL NIO SQ SU

Stocks which were UP 4% or more included AAPL CNX NIO SQ

BB FSLR RUN SPWR CSIQ SEDG ENPH VUZI ACB QRVO 

SWKS CNQ MGNI FUBO RIOT CLF MSTR BIDU DKNG 

GAN PENN GOOS ZI CGC ZM UBER PDD JD EAT KRA

TER BA LSCC HUYA MOMO BZUN TSLA LRCX SPLK

YY ROKU OSTK ULTA X....

AH Futures Mixed

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE was in a celebrating mood with more vaccine coming into play. Indices were in full bull mode as stimulus passed house vote. It was a rally where most sectors participated stay home and opening both were strong and stayed strong, most boats were lifted. Tuesday should be a positive close.

BLOG does NOT give buy or sell.

Saleem