Indices closed down .54% to .85%....

 Indices closed down due to profit taking and overbought conditions. Lot of talk about market correction keeping buyers away.

S&P 500 @ 4181.17, low 4174.85, high 4198.10

RSI @ 61.96

CMF @ 0.200

Internals were :

Down volume led by 3.21 to 1 in NYSE & 1.32 to 1 in Nasdaq

Declining stocks led by 2.13 to 1 in NYSE & 2.14 to 1 in Nasdaq

Net new 52 wk highs were leading by 245 in NYSE & 64 in Nasdaq

VIX UP 5.68% @ 18.61

Oil @ $63.58

Gold @ $1767.70

Canadian $ @ .7706

Stocks which closed green included MGM NIO BTCC-U.TO

X COIN JBLU SAVE NCLH RCL AAL CCL RIOT CLF

MSTR SNOW DAL MRNA MCD TSLA UAL NFLX

LNG OSTK CMG X.....

Here is my portfolio weighting 90% exposure :

SQ          28.89%

MGM      22.18%

SU          13.57%

NIO           8.79%

AG            8.67%

HST          7.48%

CNX         7.32%

BTCC-U  1.92%

ACB        1.18%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .22% to .71%...NICE !!!!

 Indices closed UP.

S&P 500 @ 4211.47, high 4218.78, low 4176.81

RSI @ 68.13

CMF @ 0.276

Internals were :

UP volume led by 1.17 to 1 in NYSE & .56 to 1 in Nasdaq

Advancing stocks led by 1.08 to 1 in NYSE & .85 to 1 in Nasdaq

Net new 52 wk highs were leading by 640 in NYSE & 217 in Nasdaq

VIX UP 1.91% @ 17.61

Oil @ $65.01

Gold @ $1768.30

Canadian $ @ .7701

Portfolio ACB CNX AG HST MGM NIO BTCC-U SQ SU

Stocks which closed green included HST SU

SAVE LULU QCOM QRVO SNAP SWKS 

CNQ SCHW PINS MU INTC NXPI TOL

KBH CIEN CVX EAT UPS DHI PHM

NKE FB FEYE GOOG SLB ORCL

MS OSTK MCD ULTA CMG V....

AH Futures Down

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, TAPE was strong @ open then lost it all and went into negative then came back UP to close near high of the day. Internals were mixed. AH earning reaction were mixed with AMZN beating expectations and actually moved UP. Friday can take less drama and a positive close.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .08% to .48%.....

 Indices closed down.

S&P 500 @ 4183.18, low 4181.78, high 4201.53

RSI @ 65.12

CMF @ 0.207

Internals were :

UP volume led by 1.72 to 1 in NYSE & 1.69 to 1 in Nasdaq

Advancing stocks led by 1.44 to 1 in NYSE & 1.27 to 1 in Nasdaq

Net new 52 wk highs were leading by 462 in NYSE & 156 in Nasdaq

VIX Down 1.59% @ 17.28

Oil @ $63.86

Gold @ $1773.90

Canadian $ @ .7642

In my portfolio :

Sold APA @ $20.50

Added 75% MGM @ $41.89 minutes before close.

Portfolio ACB CNX AG HST MGM NIO BTCC-U SQ SU

Stocks which were UP 2% or more included ACB CNX SU APA

VUZI SNAP RIOT LYFT SHOP CGC UBER CVX UPS 

PHM GOOG OXY SLB CVX LNG TLRY...

AH Futures UP

AH Asian Markets UP

AH Oil Down

AH Gold UP

About market, TAPE closed near low of the day while internals were positive. There was no surprise in Fed minutes or Q&A. There was anxious wait for earnings from AAPL & FB which were more than exceeding expectations. QCOM was way better than expectations. MGM also reported much better than expectations in both Sales & EPS with an easy beat. It is State of the Union address which could add to patriotic fervor and bullish mode.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 4186.72, low 4176.22, high 4193.35

RSI @ 65.85

CMF @ 0.259

Internals were :

Down volume led by .90 to 1 in NYSE & 1.19 to 1 in Nasdaq

Declining stocks led by 1.04 to 1 in NYSE & 1.23 to 1 in Nasdaq

Net new 52 wk highs were leading by 373 in NYSE & 148 in Nasdaq

VIX Down .45% @ 17.56

Oil @ $62.94

Gold @ $1778.80

Canadian $ @ .7601

In my portfolio Bought ACB @ $8.55

Portfolio APA ACB CNX AG HST MGM NIO BTCC-U SQ SU

Stocks which were UP 2% or more included APA CNX HST

BYD WYNN LVS MGNI SCHW MSTR DASH RIDE

PENN MTCH JD NVAX KRA UPS MRNA PHM

JWN GPRO M.....

AH Futures Mixed

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE was neutral by close to digest gains. AH earnings were mostly above estimates. Internals are mostly negative. Wednesday Fed policy statement is due @ 2 PM, expect no surprise. Stocks are on rotation which is healthy.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed...

 Indices closed mixed.

S&P 500 @ 4187.62, high 4194.19, low 4182.36

RSI @ 66.02

CMF @ 0.271

Internals were :

UP volume led by 2.15 to 1 in NYSE & 6.79 to 1 in Nasdaq

Advancing stocks led by 1.80 to 1 in NYSE & 2.13 to 1 in Nasdaq

Net new 52 wk highs were leading by 599 in NYSE & 221 in Nasdaq

VIX UP 1.79% @ 17.64

Oil @ $61.91

Gold @ $1780.10

Canadian $ @ .7598

In my portfolio added 200% MGM @ 41.65

Portfolio APA CNX AG HST MGM NIO BTCC-U SQ SU

Stocks which were UP 2% or more included APA NIO BTCC-U SQ

TECK X COIN TSM ROKU VUZI QRVO SWKS AAL FCX CLF

AMD GAN PLAN SHOP ESTC DDOG ENPH SEDG TWLO

QS SLB MU AMZN LRCX MSTR TLRY.....

AH Futures UP

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE was strong and closed near high of the day, Internals were strong. S&P 500 and finally Nasdaq made a new all time high, new highs gets series of new highs in Nasdaq. Many pundits are nervous and have called top in this market since last 2 weeks which should give more short covering to make new highs.

BLOG does NOT give buy or sell.

Saleem

US stock market on the mend......

 US stock market has gone through many gyrations lately.

Capital Gains tax is lurking / simmering

3rd wave playing havoc in many places like Michigan, Canada, India, Pakistan to name a few ..

Borders are being closed in Canadian intra province travel

US, Canada & Mexico border remains closed till end of May 14 months already....

All this plus Interest rate direction seems to crop up as an issue

Canadian Vaccination is going @ snail pace, only 3.2% got first vaccine so far, my second vaccination is almost 4 months later......which is normal duration for everyone.....

OF all the reasons listed above, COVID-19 3rd wave remains as real issue to impact economies of the world plus stock market.....

Last Friday, stock market close was full of optimism....

Earnings have been better than expected

Important earnings continues this week, TSLA, AAPL, MSFT to be in focus along with many others.....

Here is the RSI read for a take in sectors / index :

S&P 500          65.32

XLB                 63.65

DOW               62.92

Nasdaq          59.43

GLD              56.89

IWM              55.08

SLV              54.24

TAN             54.06

JETS           45.78

XLE            44.56

Surprisingly Energy / Oil stocks have slumped to last place or most oversold position, I am overweight in this sector with CNX APA SU....

Airlines have stumbled badly on poor earnings reports

Solar stocks have lost majority of its gains very quickly

Steels, Copper, Nickle and Zinc are 2nd best performer and remains in bull mode

Nasdaq & Russell 2000 remains undervalued and are coming back....

SO....lot of optimism in US stock market for a quick GDP turnaround, same story all over the world from China to Canada.....

A well diversified portfolio is a smart way to optimize gains a mix of top 3 to bottom 3 may do the trick.

Good luck with your own interpretation of this YO YO market.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .67% to 1.44%...NICE !!!!

 Indices closed strong mostly negating yesterday's slump. Internals were strong. Most sector participated in today's rally.

S&P 500 @ 4180.17, high 4194.17, low 4138.78

RSI @ 65.32

CMF @ 0.325

Internals were :

UP volume led by 4.68 to 1 in NYSE & 4.39 to 1 in Nasdaq

Advancing stocks led by 3.62 to 1 in NYSE & 2.82 to 1 in Nasdaq

Net new 52 wk highs were leading by 465 in NYSE & 139 in Nasdaq

VIX Down 7.38% @ 17.33

Oil @ $62.14

Gold @ $1777.80

Canadian $ @ .7502

Stocks which were UP 3% or more included APA NIO 

SAVE VUZI ACB TLRY CGC TWTR QRVO SNAP

SWKS AAL MGNI SCHW RIOT FCX CLF AI

DASH PINS RUN SPWR ENPH AMD GAN LYFT 

DADA PLAN PDD MRNA TER DHI VICR

HUYA ASML UAL YY QS MS OSTK X....

In my portfolio added 100% SQ @ $243.10

Here is my portfolio weighting with 75% exposure :

SQ           32.67%

SU          14.50%

AG         10.48%

NIO       10.21%

APA          9.03%

CNX         8.33%

HST          8.02%

MGM       4.82%

BTCC-U  1.94%

Next post by 6 PM on Sunday

BLOG does NOT give buy or sell.

Saleem

Indices closed down .92% to .94%...

 Indices closed down.

S&P 500 @ 4134.98, low 4123.69, high 4179.57

RSI @ 60.76

CMF @ 0.338

Internals were :

Down volume led by 1.67 to 1 in NYSE & 1.08 to 1 in Nasdaq

Declining stocks led by 1.57 to 1 in NYSE & 1.05 to 1 in Nasdaq

Net new 52 wk highs were leading by 344 in NYSE & 99 in Nasdaq

VIX UP 6.91% @ 18.71

Oil @ $61.43

Gold @ $1782.00

Canadian $ @ .7512

In my portfolio Bought SQ @ $249.00

Portfolio APA CNX AG HST MGM NIO BTCC SQ SU

Stocks which closed green included APA CNX NIO

LULU FSLR MGNI FUBO DASH NKLA RUN SPWR 

JKS CSIQ DOCU ZI PLAN MTCH ZM CRWD ESTC

UBER ENPH PDD JD SEDG EAT DHI TWLO SPLK

YY QS MCD ULTA M....

AH Futures UP

AH Asian Markets Down

AH Oil & Gas UP

About market, TAPE closed down on proposal to increase capital gains tax in USA, it was a clear overreaction to an old election promise. Internals and overall market held up well into close. VIX was not up sharply either, sign of optimism going into Friday.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .93% to 1.19%...NICE !!!!

 Indices closed UP.

S&P 500 @ 4173.42, high 4175.02, low 4126.35

RSI @ 67.80

CMF @ 0.314

Internals were :

UP volume led by 6.84 to 1 in NYSE & 8.66 to 1 in Nasdaq

Advancing stocks led by 3.82 to 1 in NYSE & 3.54 to 1 in Nasdaq

Net new 52 wk highs were leading by 281 in NYSE & 8 in Nasdaq

VIX Down 6.32% @ 17.50

Oil @ 6.32%

Gold @ $1793.10

Canadian $ @ .7512

In my portfolio...added 25% CNX @ $13.50

Portfolio APA CNX AG HST MGM NIO BTCC-U-TO SU

Stocks which closed UP 4% or more included AG MGM NIO

X TRIP NCLH CCL RCL FSLR ENPH RUN SPWR FUBO

RIOT AI RIDE DKNG GAN GOOS ZI CGC TLRY ACB 

MRNA TER ASML LRCX IQ AMAT QS JWN M OXY

MGA ....

AH Futures Down

AH Asian Market Mixed

AH Oil Down

AH Gold UP

About market, TAPE was strong and closed near high of the day, best performer was Russell 2000. Internals were strong. We need confirmation of this rally with a second close higher. Nasdaq volume was well below average, not comforting @ all. Canadian Central gave a clear message that they will be raising interest rates in 2022 instead of 2023, based on strong snap back in Canadian economic activity.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .68% to .92%......

 Indices closed down.

S&P 500 @ 4134.94, low 4118.38, high 4159.18

RSI @ 63.91

CMF @ 0.232

Internals were :

Down volume led by 3.08 to 1 in NYSE & 3.08 to 1 in Nasdaq

Declining stocks led by 2.71 to 1 in NYSE & 3.17 to 1 in Nasdaq

Net new 52 wk highs were leading by 196 in NYSE & lows by 68 in Nasdaq

VIX UP 8.04% @ 18.68

Oil @ $62.67

Gold @ $1778.40

Canadian $ @ .7421

Portfolio APA CNX AG HST MGM NIO BTCC-U-TO SU

Stocks which closed green included NIO BTCC-U-TO 

SQ PAAS MSTR IBM CSIQ GOLD KL ENPH

UPS MCD TWLO FB TSLA AEM FSR ORCL....

AH Futures Down

AH Asian Markets Down

AH Oil & Gold Unchanged

About market, TAPE continued its pullback to deal with many uncertainties like overbought condition, 3rd wave of Corona all over the world and uncertainty about world economy. Wall Street also wipes out every generation of new investors so often. There was a sense of invincibility among many traders that they are smarter than market and its different this time. It gets very painful on the way down, it is drip drip lower which is more painful than fast drop then rebound.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .36% to .98%....

 Indices closed down.

S&P 500 @ 4163.26, low 4150.47, high 4180.81

RSI @ 69.66

CMF @ 0.257

Internals were :

Down volume led by 1.51 to 1 in NYSE & 1.33 to 1 in Nasdaq

Declining stocks led by 2.08 to 1 in NYSE & 2.62 to 1 in Nasdaq

Net new 52 wk highs were leading by 329 in NYSE & 40 in Nasdaq

VIX UP 6.40% @ 17.29

Oil @ $63.38

Gold @ $1770.60

Canadian $ @ .7461

Portfolio APA CNX AG HST MGM NIO BTCC-U-TO SU

Stocks which were UP 1% or more included APA NIO

FUBO SCHW EAT BZUN AEM NFLX MS CMG

TLRY ACB.....

AH Futures UP

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE was under selling pressure whole day closing slightly above low of the day. Internals were weak. Earnings are generally better than expected for CMG & IBM tonight. NFLX will set the tone for technology stocks which is taking on the chin, semis are weak. Zinc Copper seems to be the flavor of the moment.

BLOG does NOT give buy or sell.

Saleem

US Stock market Overbought or Oversold?

US stock market has entered an interesting stage.....

Many stocks are overbought

Some stocks are oversold

Depends where you are looking or exposed to...

Technically speaking Nasdaq is behaving very weak, Internals are negative on most days.

BUT from RSI point of view 3 sectors are flashing severe overbought conditions and they are :

S&P 500 RSI @ 74.53

DOW RSI      @ 74.28

XLB  RSI      @ 70.68

Strangely weakest Internals of Nasdaq is @ RSI of 64.00..just getting overbought....

Weakest sector from RSI point of view is TAN @ 43.44...Solar stocks have dived big time....

Based on stimulus of $1.9 trillion and policy focus DOW stocks should benefit along with Solar.....

XLE is 2nd weakest with 47.44.. which should be doing very well considering vaccines are being taken @ fastest pace worldwide, thus economic activity being accelerated @ rapid pace now , CHINA GDP grew @ 19%.......biggest user of oil after USA.......

Russell 2000 RSI @ 53.95 showing deceleration of small cap, could be setting up for a rally.

SLV RSI @ 55.88 is attractive as Silver is facing supply issue vs demand for Industrial use.

To say the least....It is a confusing market where many indices have corrected big time and others cannot find footing thus going sideways.

Earnings are in full swing, Banks have showed their reports, NOW it is bulk of the market to " show their earnings "

Earnings may result in " sell the news " is my best guess.....as we have not pulled back 

BUT we are making new all time highs in S&P 500 and DOW daily...Nasdaq is only 2 good days away from making new all time high.....so far Nasdaq is not confirming new all time highs......

Every market needs a pause....

Rotation may do the equivalent of correction IF we just move to oversold areas....

My thesis tells me that " do not chase any stock "

Buy when stocks give you attractive entry point only .....

Nasdaq stocks have faded gradually while sector rotation keeps happening on a daily basis.

Casinos are opening UP in Las Vegas and Macau is showing pulse, thus some hope of positive action.

Exposure needs to be under normal level till we get a clear picture of direction and strength.

Good luck with your own analysis and comfort level.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .10% to .48%...NICE !!!!

 Indices closed UP in all time high close in S&P 500 & DOW. Nasdaq Internals were negative. COIN found support.

S&P 500 @ 4185.47, high 4191.31, low 4170.75

RSI @ 74.53

CMF @ 0.270

Internals were :

UP volume led by 2.31 to 1 in NYSE & .92 to 1 in Nasdaq

Advancing stocks led by 1.36 to 1 in NYSE & .84 to 1 in Nasdaq

Net new 52 wk highs were leading by 732 in NYSE & 182 in Nasdaq

VIX Down 1.93% @ 16.25

Oil @ $63.13

Gold @ $1780.20

Canadian $ @ .7498

Stocks which were UP 1% or more included MGM NIO

X COIN FSLR RUN CSIQ JKS SPWR ENPH RCL

RIDE BIDU GAN TOL KBH DHI NTAP NVAX

MRNA HUYA LSCC BZUN AEM OLED ULTA...

Here is my portfolio weighting with 50% exposure:

SU                  22.75%

AG                 16.42%

NIO               13.73%

APA               13.54%

HST              12.41%

CNX             10.43%

MGM             7.14%

BTCC-U-TO 3.58%

Next post by 6 PM on Sunday

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .90 to 1.31%...NICE !!!!

 Indices closed UP.

S&P 500 @ 4170.42, high 4173.49, low 4139.76

RSI @ 73.36

CMF @ 0.199

Internals were :

UP volume led by 1.36 to 1 in NYSE & .88 to 1 in Nasdaq

Advancing stocks led by 1.93 to 1 in NYSE & 1.05 to 1 in Nasdaq

Net new 52 wk highs were leading by 530 in NYSE & 143 in Nasdaq

VIX Down 2.47% @ 16.57

Oil @ $63.46

Gold @ $1766.80

Canadian $ @ .7458

In my portfolio :

Sold TECK @ $22.15

Bought MGM @ $40.15

Portfolio APA CNX AG HST MGM NIO BTCC.U SU

Stocks which were UP 2% or more included AG TECK

BYD AAPL SQ ROKU PYPL TWTR QCOM SNAP

PAAS FCX DASH AMD SNOW GOLD AEM NEM

PANW LYFT DOCU SHOP MTCH ZM CRWD TER

UBER DDOG NVDA TWLO MA....

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE defied wall street wisdom & logic by treating hot retail sales of 10% & low jobs claim as reasons to bring 10 year yield down to 1.57 area instead of shooting it up to 2%, everything can be arranged on Wall & Broad. S&P 500 and DOW closed @ yet another new all time high, Nasdaq only 140 points away. Internals were mostly positive.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 4124.66, low 4120.87, high 4151.69

RSI @ 69.37

CMF @ 0.193

Internals were :

UP volume led by 1.96 to 1 in NYSE & .66 to 1 in Nasdaq

Advancing stocks led by 1.45 to 1 in NYSE & 1.21 to 1 in Nasdaq

Net new 52 wk highs were leading by 472 in NYSE & 159 in Nasdaq

VIX UP 2.04% @ 16.99

Oil @ $63.15

Gold @ $1736.90

Canadian $ @ .7481

Portfolio APA CNX AG HST NIO BTCC.U SU TECK

Stocks which were UP 2% or more included

APA CNX SU TECK

X CNQ FCX CLF AI

NTAP NVAX MRNA

JWN OXY SLB.....

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE closed mixed with only DOW & Russell 2000 closing higher. DOW & S&P 500 made a new all time high on an Intraday basis doing a reversal in the process. Nasdaq was the weakest with major losses in key technology stocks, Nasdaq weakness is a slow process to give hope one day and collapsing next day.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed.....

 Indices closed mixed.

S&P 500 @ 4141.59, high 4148.00, low 4124.43

RSI @ 73.13

CMF @ 0.207

Internals were :

Down volume led by 1.10 to 1 in NYSE & .68 to 1 in Nasdaq

Declining stocks led by .94 to 1 in NYSE & 1.11 to 1 in Nasdaq

Net new 52 wk highs were leading by 368 in NYSE & 68 in Nasdaq

VIX Down 1.54% @ 16.65

Oil @ $60.18

Gold @ $1742.60

Canadian $ @ .7455

Portfolio APA CNX AG HST NIO BTCC.U SU TECK

Stocks which were UP 1% or more CNX AG NIO TECK

SAVE SQ ROKU NVTA PYPL TWTR PAAS MGNI

RIOT MSTR AMD DKNG NEM DOCU ZI PLAN ZM

ESTC UBER DDOG SEDG MRNA NVDA TSLA 

FEYE SPLK MGA OSTK TLRY....

AH Futures Down

AH Asian Markets UP

AH Oil UP

AH Gold Down

About market, TAPE was under pressure with the announcement that J&J vaccine had side effect of blood  clot in some women. Restart stocks took a hit and @ home stocks plus technology took off in a big way. Internals were poor again and only S&P 500 made a new all time high. Nasdaq was the strongest @ close and DOW was weak and closed down.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .02% to .36%....

 Indices closed down.

S&P 500 @ 4127.99, low 4114.82, high 4131.76

RSI @ 72.00

CMF @ 0.233

Internals were :

Down volume led by 1.26 to 1 in NYSE & 2.77 to 1 in Nasdaq

Declining stocks led by 1.08 to 1 in NYSE & 1.82 to 1 in Nasdaq

Net new 52 wk highs were leading by 418 in NYSE & 107 in Nasdaq

VIX UP 1.32% @ 16.91

Oil @ $59.70

Gold @ $1732.70

Canadian $ @ .7439

In my portfolio Bought AG @ $17.31

Portfolio APA CNX AG HST NIO BTCC.U SU TECK

Stocks which closed green included BTCC.U tsx

SQ LULU PYPL QRVO MSTR DASH SNOW

MU PANW DOCU PLAN MTCH CRWD M

ESTC ENPH LITE NKE VICR BYND CMG

NVDA TWLO TSLA AMZN SPLK BABA

FEYE ORCL OSTK ULTA....

AH Futures Mixed

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE was under mild selling pressure, by close Nasdaq stocks were mostly negative. Internals were negative. Tomorrow inflation data will set the tone as to the direction of this TAPE. Keep an eye on how we close.

BLOG does NOT give buy or sell.

Saleem

US stock market deeply overbought.....

 US stock market closed @ new all time high in DOW & S&P 500, most have focus on this accomplishment.....

BUT...I am deeply troubled @ the overbought condition going into Friday's close.

VIX closed @ the lowest point in last 52 weeks a loss of 59.95%...any deep loss like that is rare which may become a major turning point 

RSI @ 72.17 in S&P 500 is @ highest point in last 5 months....another deeply overbought condition.

Most are not worried about these 2 important technical development, reason being, we are very complacent near any turning point instead of being alert or being concerned.

Many will dismiss all of the above ..because "its different this time "

Why its different?

Fed Chief told us that again yesterday....low interest will stay till 2023.....2 more long years...

$1.9 trillion stimulus is approved....

THUS good time has just started...

Vaccine is taken by over 100 million American's and roughly similar focus all over the world....

HOW can anything go wrong NOW.....

BUT BUT.....Stock market knows all that and have already " factored all that in "

Market needs time to digest gains and and see the reality of " new world " who wins and who survives..

Factoring all of the above....

I am looking @ 3 weeks of choppy market....

Currently " risk reward ratio is extremely poor "

It is always wise to leave the last dollar to those who believe party will never end....

After 3 weeks or so we may get a chance to find a very "oversold market "

I am least confident near top and most confident near bottom....which has always kept me in the market since 1972....a long 49 years where have seen many " bull and bear markets repeatedly "

SO...have reduced my exposure below 40%......for now

This does not mean that my buy list is blank..NO RSI is my guide to individual buying decision...

In my world RSI below 55 is a good number and can be bought IF reasoning are justified...

Good luck with your own take of this market and your comfort level.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .51% to .89%...NICE !!!!

 Indices closed UP and @ high of the day with all time high closing in DOW & S&P 500. Internals were extremely weak for a record high closing.

S&P 500 @ 4128.80, high 4129.48, low 4095.51

RSI @ 72.17

CMF @ 0.251

Internals were :

UP volume led by 1.13 to 1 in NYSE & .81 to 1 in Nasdaq

Advancing stocks led by 1.19 to 1 in NYSE & .81 to 1 in Nasdaq

Net new 52 wk highs were leading by 374 in NYSE & 145 in Nasdaq

VIX Down 1.53% @ 16.69......16.20 was the low of the day and YTD & 52 wks...

Oil @ $59.32

Gold $1744.80

Canadian $ .7455

Stocks which closed UP1% or more included AAPL SQ 

LULU ACB CGC CCL MGNI FUBO SCHW MSTR

DASH SPWR DKNG INTC MSFT PANW TOL

KBH DHI PHM KRA UPS MRNA NKE AMZN

SPLK JWN YELP M ....

In my portfolio :

Bought TECK @ $19.80

Sold AAPL in After Hour @ $132.98

Sold SQ near close @ $262.80

Sold TSM near close @ $122.55

Here is my portfolio weighting...reduced my exposure to only 35% :

SU           27.05%

NIO         17.24%

APA        15.61%

HST       14.64%

CNX      12.49%

TECK     8.96%

BTCC.U 4.01%

Next post around 6 PM on Sunday

BLOG does NOT give buy or sell

Saleem

Indices closed UP .17% to 1.03% ....NICE !!!!

 Indices closed UP.

S&P 500 @ 4097.17, high 4098.19, low 4082.54

RSI @ 69.60

CMF @ 0.214

Internals were :

UP volume led by .99 to 1 in NYSE & 2.53 to 1 in Nasdaq

Advancing stocks led by 1.80 to 1 in NYSE & 2.13 to 1 in Nasdaq

Net new 52 wk highs were leading by 353 in NYSE & 132 in Nasdaq

VIX Down 1.22% @ 16.95

Oil @ $59.60

Gold @ $1758.20

Canadian $ @ .7420

In my portfolio ....added 45% SU @ $20.70

Portfolio AAPL APA CNX HST NIO BTCC.U SQ SU TSM

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

ROKU BB TWTR SNAP AG RIOT MSTR RIDE BIDU

PINS PENN MGM GOOS DOCU SHOP ZM CRWD 

ESTC ENPH BYND TWLO NTNX OSTK....

AH Futures UP

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE was strong & closed @ high of the day, S&P 500 keep making new all time highs and closing high. Today was a broad based rally where FANG and stay home stocks took the lead. Reopen stocks were mostly in red along with base metals. We may be coming to an end to this part of rally as VIX & RSI are flashing caution.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 4079.95, high 4083.13, low 4068.31

RSI @ 68.10

CMF @ 0.168

Internals were :

Down volume led by 1.43 to 1 in NYSE & 1.82 to 1 in Nasdaq

Declining stocks led by 1.38 to 1 in NYSE & 2.22 to 1 in Nasdaq

Net new 52 wk highs were leading by 265 in NYSE & 91 in Nasdaq

VIX Down 5.30% @ 17.16

Oil @ $59.77

Gold @ $1741.60

Canadian $ @ .7382

Portfolio AAPL APA CNX HST NIO BTCC.U SQ SU TSM

Stocks which were UP 1% or more included AAPL HST SQ

TWTR SNAP CCL INTC GOOS EAT NVDA FB AMZN

GOOG LNG FB.....

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE had another flat day digesting its gains. FANG continue to baffle technology bears by going UP daily. Internals were negative. Thursday should be a positive close all around.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .05% to .29%.....

 Indices closed down.

S&P 500 @ 4073.94, low 4068.14, high 4086.23

RSI @ 67.59

CMF @ 0.138

Internals were :

UP volume led by 1.59 to 1 in NYSE & 1.17 to 1 in Nasdaq

Advancing stocks led by 1.54 to 1 in NYSE & .97 to 1 in Nasdaq

Net new 52 wk highs were leading by 428 in NYSE & 172 in Nasdaq

VIX UP 1.17% @ 18.12

Oil @ $59.33

Gold @ $1743.00

Canadian $ @ .7456

In my portfolio Bought BTCC.U @ $10.90 in Toronto a Bitcoin ETF

Portfolio AAPL APA CNX HST NIO BTCC.U SQ SU TSM

Stocks which were UP 2% or more included CNX SQ

LULU WYNN SNAP PAAS FUBO RIDE CSIQ JKS

SEDG ENPH PLAN DAL ESTC PDD MRNA IQ

HUYA MOMO BZUN TWLO BABA ROKU 

TWTR CMG....

AH Futures UP

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, TAPE took a well deserved rest closing slightly lower. Internals were mostly positive. Reopening stocks did well like airlines & cruise lines. Some Technology stocks kept moving higher along with Solar stocks.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 1.13% to 1.67%...NICE !!!!

 Indices closed UP.

S&P 500 @ 4077.91, high 4083.42, low 4034.44

RSI @ 68.27

CMF @ 0.096

Internals were :

UP volume led by 1.55 to 1 in NYSE & 1.16 to 1 in Nasdaq

Advancing stocks led by 1.79 to 1 in NYSE & 1.51 to 1 in Nasdaq

Net new 52 wk highs were leading by 534 in NYSE & 230 in Nasdaq

VIX UP 3.35% @ 17.91

Oil @ $58.65

Gold @ $1728.80

Canadian $ @ .7484

In my portfolio :

Sold MGM @ $41.50

Added 250% CNX @ $14.66

Bought APA @ $17.54

Portfolio AAPL APA CNX HST NIO SQ SU TSM

Stocks which were UP 2% or more included AAPL MGM

NCLH MRVL RCL WYNN QRVO SWKS TECK CCL

RIOT FCX MSTR PINS IBM GAN INTC MSFT DAL

NXPI TER BA FB TSLA AMZN UAL GOOG ORCL...

AH Futures Mixed

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE was strong from open to close without wavering, Nasdaq was UP 3 days in a row and is technically strong. DOW & S&P 500 made a new all time high. Internals were all positive and strong. Many sectors participated and some were left behind as rotation has taken hold.

BLOG does NOT give buy or sell.

Saleem

US stock market in " happy zone "

 US stock market is giving a very firm " buy buy buy signal "

Everything is falling in place.....

100 million vaccines given

Job growth in high gear...

10 year yield stuck in a defined range

S&P 500 made a new all time closing high....

Debate of growth & value is mute....

Value has shown growth..

Growth is showing value now...

Time has come when most boats will be lifted

Confusing stage from stock market has abated

Buy whatever you have faith in and stick with it

Nasdaq above 50 DMA

Russell 2000 above 50 DMA

VIX below 20 and no worries...start of a new VIX channel

Semiconductors are in vogue again

YES Airlines are in growth mode now...

All of the above proves with little patience and conviction everything works....

Those who are out of technology will be chasing those stocks @ much higher prices

This is a rare time in US stock market where Value & Growth should work and move much higher.

SO....you have done enough worrying, now put your stock picking skills to work, market may move quickly and should make higher highs which means " series of new all time highs..."

Good luck with your understanding of this TAPE and comfort level.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .52% to 1.76%....NICE !!!!

 Indices closed near high of the day with S&P 500 in new all time high territory, Nasdaq was the strongest among all major Indices, Russell 2000 came alive. Oil closed UP despite more production quota.

S&P 500 @ 4019.87, high 4020.63, low 3992.78

RSI @ 63.27

CMF @ 0.114

Internals were :

UP volume led by 2.31 to 1 in NYSE & 2.00 to 1 in Nasdaq

Advancing stocks led by 4.16 to 1 in NYSE & 3.13 to 1 in Nasdaq

Net new 52 wk highs were leading by 289 in NYSE & 106 in Nasdaq

VIX Down 10.41% @ 17.38

Oil @ $61.45

Gold @ $1728.40

Canadian $ @ .7428

Stocks which were UP 4% or more included CNX MGM TSM

APA QRVO SNAP PAAS PINS GAN MU UBER PDD TER

LSCC LRCX YY QS AMAT YELP......

In my portfolio bought CNX @ $14.66

Here is my portfolio weighting :

AAPL          24.21%

SQ              24.12%

TSM           14.75%

MGM         12.55%

SU               8.47%

NIO             7.80%

HST            6.29%

CNX           1.81%

Next post by 6 PM on Sunday.

Enjoy your Easter!

BLOG does NOT give buy or sell.

Saleem