US stock market goes in rotation mode....

 US stock market profile has changed completely, It Is in a daily rotation mode.

Before US stock market was a game of favorite stocks and it lasted almost a whole year.

NOW it has become fundamentally driven where PE is improving dramatically.

Most of @ home and previous darlings are playing not second but third fiddle....a serious change in market focus.

Also It Is no longer playing restart of economy stocks with any intensity

Base metals, steels, uranium, oil stocks, gas stocks, gaming stocks to name a few sectors has more of an ascending slope ....

Yes those Fangs, Technology, Shopify gets some movement but nothing to write home about...

YES...It Is a confusing mess in terms of what is working these days.....

Energy and gaming stocks seems to have lot of life left ...BUT....that too requires long term focus and patience....

US stock market now is a slow moving freight train where many sectors will keep moving slowly but surely upwards.

The only way to make money is to go in non glamorous sectors based on RSI where short term trading opportunity comes around over and over.

Redditt or zero commission outfits are only chasing few stocks on a daily basis based on forcing shorts to say uncle....

BUT those stocks can lose all the gains by end of the day when stock chasers get in.....

SO ....a well diversified approach in non glamorous industries may be more beneficial and more bang for your bucks.

Good luck with your own thesis as it seems, we are all shooting in the dark these days.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .08% to .19%...NICE !!!!

 Indices closed UP but faded by close and closed near low of the day. Long weekend played a role in today's TAPE action. Internals were mixed with CMF negative for 2 day's in a row.

S&P 500 @ 4204.11, high 4218.36, low 4203.57

RSI @ 57.57

CMF @ -0.042

Internals were :

UP volume led by .99 to 1 in NYSE & 1.72 to 1 in Nasdaq

Advancing stocks led by 1.63 to 1 in NYSE & 1.12 to 1 in Nasdaq

Net new 52 wk highs were leading by 324 in NYSE & 138 in Nasdaq

VIX UP .12% @ 16.76

Oil @ $66.32

Gold @ $1905.30

Canadian $ @ .7908

Stocks which closed green included CNX AG HST PLTR SQ

CRM ACB TSM TRIP QCOM SNAP FCX PINS AMD LYFT

DOCU PLAN CGC ZM PDD JD CVX MRNA ASML NVDA

LRCX FEYE EXPE LNG JKS MGA MS ULTA CMG....

In my portfolio :

Sold PLTR @ $23.70

Sold SQ @ $224.00

Here is my portfolio weighting based on 50% exposure :

MGM       36.13%

CNX        19.54%

NIO         17.59%

AG          15.79%

HST        10.95%

Next post on Monday by 6 PM

BLOG does NOT give buy or sell.

Enjoy your Memorial Day weekend!

Saleem 

Indices closed mixed.....

 Indices closed mixed.

S&P 500 @ 4200.88, high 4213.38, low 4197.78

RSI @ 57.17

CMF @ -0.025

Internals were :

UP volume led by 1.96 to 1 in NYSE & 2.16 to 1 in Nasdaq

Advancing stocks led by 1.85 to 1 in NYSE & 1.94 to 1 in Nasdaq

Net new 52 wk highs were leading by 287 in NYSE & 152 in Nasdaq

VIX Down 3.57% @ 16.74

Oil @ $66.85

Gold @ $1898.50

Canadian $ @ .7921

Portfolio CNX AG HST MGM NIO PLTR SQ

Stocks which were UP 2% or more included MGM NIO PLTR

TECK GE CCJ BB X BYD NCLH RCL QRVO AAL CCL 

FUBO SCHW RIOT FCX CLF DASH GOOS ZI BA

DDD OXY MU M COIN MGA OSTK MSTR ACB

TLRY....

AH Futures UP

AH Asian Markets UP

AH Oil & Gold UP

About market, TAPE has gone in an strong UP mode with many sectors participating daily. Market is predicting almost " perfect economic environment " not too hot not too cold. COVID-19 and its impact in world economies are constantly handicapped by each trader to no avail, its as smooth as it can get, so let it do its own thing and stay with your diversified position.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .03% to .59%...NICE !!!!

 Indices closed UP.

S&P 500 @ 4195.99, high 4202.61, low 4184.11

RSI @ 56.58

CMF @ 0.056

Internals were :

UP volume led by 3.38 to 1 in NYSE & 3.36 to 1 in Nasdaq

Advancing stocks led by 2.11 to 1 in NYSE & 2.96 to 1 in Nasdaq

Net new 52 wk highs were leading by 192 in NYSE & 57 in Nasdaq

VIX Down 7.86% @ 17.36

Oil @ $66.21

Gold @ $1901.20

Canadian $ @ .7885

Portfolio CNX AG HST MGM NIO PLTR SQ

Stocks which were UP 2% or more included CNX NIO PLTR SQ

TECK CLF APA M X BYD LVS WYNN PENN DKNG GAN

JBLU BB FSLR CSIQ JKS ENPH SEDG CSIQ RUN SPWR

GOOS TOL KBH CRWD BYND TSLA TWLO DDD QS

AAL OXY MRNA OSTK ULTA MSTR TLRY ACB...

AH Futures Mixed

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE performed well and most sector participated even solar stocks came to life. All we need is another positive close in Nasdaq which means Nasdaq is headed into another series of all time highs. Internals were strong.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .03% to .24%.....

 Indices closed down.

S&P 500 @ 4188.13, low 4182.52, high 4213.42

RSI @ 55.67

CMF @ 0.002

Internals were :

Down volume led by 2.21 to 1 in NYSE & .80 to 1 in Nasdaq

Declining stocks led by 1.53 to 1 in NYSE & 1.77 to 1 in Nasdaq

Net new 52 wk highs were leading by 226 in NYSE & 77 in Nasdaq

VIX UP 2.39% @ 18.84

Oil @ $66.07

Gold @ $1898.00

Canadian $ @ .7924

In my portfolio added 130% PLTR @ $21.32

Portfolio CNX AG HST MGM NIO PLTR SQ

Stocks which were UP 1% or more included AG MGM PLTR SQ

ACB TLRY CGC COIN LULU QRVO CCL BIDU PINS GAN

DKNG TOL KBH DHI DAL JD MRNA BA IQ ASML WB 

UAL BYND AMAT ULTA ....

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE was all green then faded and closed near low of the day, Nasdaq did not get confirmation of this UP move by closing in red also. Josh Brown CNBC commentator made a very interesting analysis that may be things have changed for so many years and we are still stuck in PE based valuation and gave AMZN last 10 years of run as a solid proof, food for thought.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .54% to 1.41%...NICE !!!!

 Indices closed UP.

S&P 500 @ 4197.05, high 4209.52, low 4170.16

RSI @ 56.92

CMF @ 0.043

Internals were :

UP volume led by 2.05 to 1 in NYSE & 1.12 to 1 in Nasdaq

Advancing stocks led by 2.13 to 1 in NYSE & 1.06 to 1 in Nasdaq

Net new 52 wk highs were leading by 258 in NYSE & 86 in Nasdaq

VIX Down 8.68% @ 18.40

Oil @ $65.16

Gold @ $1884.50

Canadian $ @ .7924

Portfolio CNX AG HST MGM NIO PLTR SQ

Stocks which were UP 2% or more included MGM NIO PLTR SQ

BYD JBLU PYPL MRVL TWTR SNAP RIOT CLF MSTR PINS

DKNG GAN MU MSFT PENN SHOP ESTC BYND NVDA

TWLO TSLA AMAT GOOG DDD ROKU OSTK LRCX....

AH Futures UP

AH Asian Markets UP

AH Oil UP

AH Gold Down

About market, TAPE was flawless today, most sectors were UP, Internals were positive. Bitcoin staged a strong comeback, Oil was UP and @ highest level in years. Gold also UP. There was no worry on Wall & Broad for a change. Hopefully Nasdaq will close strong on turnaround Tuesday to repair technical damage.

BLOG does NOT give buy or sell.

Saleem

US stock market stuck in neutral.....

 US stock market is going nowhere fast

US stock market not showing technical strength

Rotation in selling new focus

All sectors looking like bargain

Confused trader do not know what to do

YES....It Is true lot has changed lately...

It Is a direction less TAPE

S&P 500 & DOW are staying above 50 DMA...

Nasdaq SOX & Russell 2000 staying below 50 DMA

TAN Solar ETF staying below 50 DMA & 200 DMA

It Is very hard to make any sense of most sectors.....

I have a feeling that we will mark time or downward direction until more clarity comes as to direction of Interest rates.....10 year rates will be in " hyper focus "

There is a concern that IF Fed support is removed ....then market will be be very weak....everybody is trying to handicap as to WHEN.....

Interest rates are @ historical low...normalization of Interest rates are a given...what Is not given as to when......

IF interest rates starts going UP...Market will become weak to digest implication of this  " major change "

SO...we are in pre interest rate hike stage, where uncertainty has crept up

It Is becoming a " wait and see stock market "

Then there is Crypto Coin showing major crack...currently around $33,000 for Bit Coin, recent low is $29000....retest may take it further down...somehow even numbers becomes support like 20000...This number may Impact stock market like last time until Bit Coin shows stability.

NOW....the question Is how to deal with so many uncertainty.....

One simple solution...reduce exposure.....

Take quick profit.....

Strategically do buying

So lots to analyze going forward....

Good luck with your own analysis and comfort level.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed.....

 Indices closed mixed after opening green and staying green until closing minutes. All Indices closed near low of the day. All crypto coins are in extreme selling pressure based on Chinese decision to bar from acceptance. US regulators are also looking @ monitoring closely for tax avoidance.

S&P 500 @ 4155.86, low 4151.72, high 4188.72

RSI @ 52.33

CMF @ 0.023

Internals were :

UP volume led by 1.35 to 1 in NYSE & .78 to 1 in Nasdaq

Advancing stocks led by 1.46 to 1 in NYSE & 1.28 to 1 in Nasdaq

Net new 52 wk highs were leading by 201 in NYSE & 99 in Nasdaq

VIX Down 2.52% @ 20.15

Oil @ $63.58

Gold @ $1876.70

Canadian $ @ .7924

Stocks which were UP 1% or more included TECK APA ACB

SCHW AI RUN SEDG SNOW RXT CRWD NTAP BA 

VICR NVDA SPLK GME DDD MGA MS PANW 

TLRY.....

Here is my portfolio weighting :

SQ         26.66%

MGM    24.48%

CNX     14.79%

AG       11.35%

NIO     11.35%

HST      7.90%

PLTR    3.47%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .77% to 1.89%....NICE !!!!

 Indices closed UP.

S&P 500 @ 4166.53, high 4172.80, low 4121.97

RSI @ 52.74

CMF @ 0.083

Internals were :

UP volume led by 1.60 to 1 in NYSE & 3.08 to 1 in Nasdaq

Advancing stocks led by 2.25 to 1 in NYSE & 2.38 to 1 in Nasdaq

Net new 52 wk highs were leading by 125 in NYSE & 41 in Nasdaq

VIX Down 6.81% @ 20.67

Oil @ $62.05

Gold @ $1881.90

Canadian $ @ .7947

Portfolio CNX AG HST MGM NIO PLTR SQ

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

LSPD COIN VUZI AAPL LULU ROKU NVTA PYPL

MRVL FSLR TWTR SNAP MSTR BIDU PINS RUN

SPWR CSIQ JKS SEDG ENPH DKNG NXPI ZI

GOOS DOCU SHOP ESTC DDOG PDD JD TER

IQ ASML BYND TWLO TSLA LRCX AMAT 

LVS OSTK CMG.....

AH Futures UP

AH Asian Markets UP

AH Oil UP

AH Gold Down

About market, TAPE was UP in an oversold condition, all Indices closed near high of the day. Internals were positive. Most sector came back to life and were green or strong @ best. Hopefully we close in green all around on Friday to confirm today's strong close.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .03% to .48%....

 Indices closed down.

S&P 500 @ 4115.68, low 4061.41, high 4116.93

RSI @ 47.63

CMF @ 0.028

Internals were :

Down volume led by 3.38 to 1 in NYSE & 1.32 to 1 in Nasdaq

Declining stocks led by 2.15 to 1 in NYSE & 1.7 to 1 in Nasdaq

Net new 52 wk high were leading by 11 in NYSE & lows by 21 in Nasdaq

VIX UP 3.94% @ 22.18

Oil @ $63.36

Gold @ $1881.30

Canadian $ @ .7908

Portfolio CNX AG HST MGM NIO PLTR SQ

Stocks which closed green included TSM PYPL MRVL

FSLR CSIQ JKS SPWR ENPH SEDG WYNN QCOM

QRVO SNAP MU INTC NXPI DADA ZI PLAN SHOP

MTCH PDD JD TER VICR LSCC BZUN FB LRCX

AMAT GOOG OLED .....

AH Futures Down

AH Asian Markets Down

AH Oil UP

AH Gold Down

About market, TAPE was extremely weak then made a valiant effort to close near high of the day. All Indices tested 50 DMA and for now closed higher. Internals were mostly negative. Today's action was negative back to back which IS never a good thing. I have a feeling we will take out 50 DMA in near term. Recent TAPE does not give confidence of a healthy market on the contrary a very weak one.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .56% to .85%....

 Indices closed down.

S&P 500 @ 4127.83, low 4125.99, high 4169.15

RSI @ 49.00

CMF @ 0.021

Internals were :

Down volume led by 1.76 to 1 in NYSE & .50 to 1 in Nasdaq

Declining stocks led by 1.09 to 1 in NYSE & .93 to 1 in Nasdaq

Net new 52 wk highs were leading by 247 in NYSE & 80 in Nasdaq

VIX UP 8.22% @ 21.34

Oil @ $65.49

Gold @ $1868.00

Canadian $ @ .7934

Portfolio CNX AG HST MGM NIO PLTR SQ

Stocks which were UP 1% or more included MGM NIO PLTR

VUZI ROKU NCLH FSLR TWTR WYNN CCL MGNI AI

FUBO RIOT DASH SPWR DKNG SNOW PANW LYFT

UBER SHOP CRWD DDOG ENPH PDD JD IQ MOMO

BZUN BABA OLED QS DDD TLRY OSTK....

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE started positive then started drifting into negative with Nasdaq staying in green, Last 15 minutes puts all Indices into red including Nasdaq and closed near low of the day. @ home stocks and some techs did well which was a pleasant change. Internals were mixed

BLOG does NOT give buy or sell.

Saleem

Indices closed down .16% to .38%....

 Indices closed down.

S&P 500 @ 4163.29, low 4142.69, high 4171.92

RSI @ 53.18

CMF @ 0.060

Internals were :

UP volume led by 1.80 to 1 in NYSE & 1.52 to 1 in Nasdaq

Advancing stocks led by 1.13 to 1 in NYSE & 1.04 to 1 in Nasdaq

Net new 52 wk highs were leading by 183 in NYSE & 42 in Nasdaq

VIX UP 4.89% @ 19.72

Oil @ $66.27

Gold @ $1867.60

Canadian $ @ .7923

In my portfolio bought PLTR @ $20.10

Portfolio CNX AG HST MGM NIO PLTR SQ

Stocks which were UP 3% or more included CNX AG

SU TECK M PAAS FCX CLF GOLD NEM KL

FSR JWN AAL OXY SLB OSTK X TLRY....

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE was searching for direction against 2 days rally, only Energy, Steels & Base Metals were in demand. Technology seems to have lot of sell these days. 52 wk high list is a great place to find winners in a difficult market. Internals were positive.

BLOG does NOT give buy or sell.

Saleem

US stocks heading higher....

 US stock market tested and retested support and finally headed higher.

Wednesday was the retest with lower lows closing above low of the day.

Thursday was retest for Nasdaq with higher lows and reversal with positive close.

Friday all Indices were sharply higher closing near high of the day.

Friday also was a confirmation of this rally with a strong close.

US is coming back to normal activities after CDC endorsed no mask IF both shots are taken by everyone, a huge relief to all.

There was a sense of never ending cycle of COVID-19 waves BUT CDC showed a way out of this worldwide trauma.

CDC should be given a huge " thank you " by entire world for giving word of confidence that end is here in a functional form.

There are many fast repercussion of this which can be listed below :

Reopening of many Industries will be in fast forward mode

Worldwide travel can be happening with CDC guideline of Mask ON

Most offices can be opened.

Most Restaurant can open without too much issue

Social distance will be maintained in any group setting, be it in airplane, cruise ship, concerts, subway, restaurants....

Stock market will also feel a " regrouping " instead of @ home or reopen....all sectors can be evaluated on its normal merit like Sales near term trend & profitability direction.

Again market profile will change in a hurry.

Any sector which has lagged due to uncertainty arising because of COVID-19 will be bid UP.

New leadership may emerge...

Please pay attention to volume and price action.

Stocks may react very quickly to a more normal world.

I expect a " fast furious " TAPE going forward.

Expect series of new all time highs 

Small cap may be in vogue again

SO put your thinking cap ON and pay attention to biggest gainers list to get a sense of new direction.

Good luck with your own analysis and comfort level.

BLOG does NOT give buy or sell.

Saleem

Indices UP 1.06% to 2.32%....NICE!!!!

 Indices closed UP and near high of the day. Internals were strong and all sector participated in today's rally, everybody went home feeling good. We got confirmation of yesterday's rally.

S&P 500 @ 4173.85, high 4183.13 low 4129.58

RSI @ 54.46

CMF @ 0.031

Internals were :

UP volume led by 7.82 to 1 in NYSE & 7.89 to 1 in Nasdaq

Advancing stocks led by 4.63 to 1 in NYSE & 4.58 to 1 in Nasdaq

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

VIX Down 18.68% @ 18.81

Oil @ $65.37

Gold @ $1838.10

Canadian $ @ .7880

Stocks which were UP 5% or more included CNX NIO SQ

APA SAVE NVTA NCLH RCL AAL FUBO AI MSTR

DASH RIDE SPWR DKNG GAN SNOW LYFT ZM

UBER SEDG LSCC FEYE FSR JWN OXY MRNA

OSTK M BB.....

Here is my portfolio weighting :

SQ             28.80%

MGM        25.22%

CNX         15.09%

NIO         11.61%

AG          10.84%

HST         8.44%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .72% to 1.29%...NICE !!!!

 Indices closed UP.

S&P 500 @ 4112.50, high 4131.58, low 4074.95

RSI @ 47.65

CMF @ 0.025

Internals were :

UP volume led by 1.85 to 1 in NYSE & .72 to 1 in Nasdaq

Advancing stocks led by 1.91 to 1 in NYSE & 1.06 to 1 in Nasdaq

Net new 52 wk lows were leading by 26 in NYSE & 162 in Nasdaq

VIX Down 16.17% @ 23.13

Oil @ $63.82

Gold @ $1824.00

Canadian $ .7849

Portfolio CNX AG HST MGM NIO SQ

Stocks which closed green included HST MGM

BYD JBLU AAPL WYNN QCOM DASH IBM 

MSFT NXPI NEM CIEN TOL DAL NTAP KBH 

UPS TER ASML LRCX UAL AMAT GOOG

NYNX YELP LVS MGA ORCL MS ULTA V...

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE tried to recover and closed green but off the best level of the day. Internals were mixed. We need this phase to pass then we may have a clear direction. There was a huge relief today that Nasdaq had a pulse but most high fliers were negative on the day.

BLOG does NOT give buy or sell.

Saleem

Indices closed down 1.99% to 2.67%....

 Indices closed down.

S&P 500 @ 4063.04, low 4056.88, high 4134.73

RSI @ 41.05

CMF @ 0.048

Internals were :

Down volume led by 5.65 to 1 in NYSE & 3.47 to 1 in Nasdaq

Declining stocks led by 6.05 to 1 in NYSE & 3.85 to 1 in Nasdaq

Net new 52 wk highs were leading by 39 in NYSE & lows by 67 in Nasdaq

VIX UP 26.33% @ 27.59

Oil @ $66.08

Gold @ $1822.80

Canadian $ @ .7893

In my portfolio Sold in last few seconds of regular market ACB @ $7.70

Portfolio CNX AG HST MGM NIO SQ

Stocks which closed green Included SU APA

CNQ FUBO NKLA PFE DADA CVX

WB YY OXY SLB....

AH Futures UP

AH Asian Markets Down

AH Oil & Gold Down

About market, TAPE was in a freefall with nowhere to hide, everything was down with few minor exception. Selling picked up in a frenzied manner when Copper Nickle Steels stocks all were sent down down down. We have to see how we close going forward to get a sense of direction of this tumbling market.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .09% to 1.36%....

 Indices closed down.

S&P 500 @ 4152.10, low 4111.53, high 4162.04

RSI @ 52.01

CMF @ 0.059

Internals were :

Down volume led by 1.87 to 1 in NYSE & .92 to 1 in Nasdaq

Declining stocks led by 2.85 to 1 in NYSE & 1.62 to 1 in Nasdaq

Net new 52 wk highs were leading by 10 in NYSE & lows by 199 in Nasdaq

VIX UP 11.09% @ 21.84

Oil @ $68.55

Gold @ $1836.10

Canadian $ @  .7904

Portfolio ACB CNX AG HST MGM NIO SQ

Stocks which were UP 1% or more included AG NIO SQ

TECK COIN X ROKU NVTA PYPL SNAP FUBO

FCX CLF MSTR DASH BIDU RUN AMD SPWR

CSIQ PENN DOCU MTCH ZM CRWD BYND

SPLK NFLX QS RIDE FEYE TWTR OSTK

AMZN LRCX TLRY....

AH Futures Down

AH Asian Markets Down

AH Oil UP 

AH Gold Down

About market, TAPE was disappointing again, all Indices closed lower, Internals were mostly negative. There was celebration that Nasdaq came back to near unchanged level, It Is too soon to declare victory, Indices normally retest lows and sometimes It goes further down than previous support. Lot of hype about CPI data @ 830 AM, It Is fully discounted for the most part, It may be buy the news.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .10% to 2.55%.....

 Indices closed down.

S&P 500 @ 4188.43, low 4188.13, high 4236.39

RSI @ 57.86

CMF @ 0.048

Internals were :

Down volume led by 1.85 to 1 in NYSE & 2.44 to 1 in Nasdaq

Declining stocks led by 1.88 to 1 in NYSE & 3.26 to 1 in Nasdaq

Net new 52 wk highs were leading by 919 in NYSE & 187 in Nasdaq

VIX UP 17.80% @ 19.66

Oil @ $64.92

Gold @ $1837.60

Canadian $ @ .7904

In my portfolio Sold VUZI @ $15.75 in AH

Portfolio ACB CNX AG HST MGM NIO SQ

Stocks which closed green included CNX

APA COIN TRIP IBM PFE GOLD

GOOS NEM KL KBH DHI PHM

MCD FEYE YELP WB....

AH Futures Down

AH Asian Markets Down

AH Oil & Gold Down

About market, TAPE was in a freefall in Technology from open BUT DOW was the-most resilient until last 15 minutes when it also succumbed to selling pressure. Today's reversal in DOW and most strong stocks is very alarming from technical point of view, this may be a tell tale of market trend in near term. Please look @ your Portfolio and prune any vulnerable stocks, comfort level needs to be very high going forward. Watch how we close on a daily basis.

BLOG does NOT give buy or sell.

Saleem

US stocks " Buy the strength or weakness "

 US stock market has baffled many into understanding what has changed so quickly.

COVID-19 was supposed to negatively impact world economies. It has been relentless since March 2020, few countries are facing 4th wave most are in 3rd wave.

Deflation should be happening

All commodities should be cheaper

@ home stocks should be going UP & UP

Chip shortage should affect earnings negatively of every tech laden company.....

BUT.....

All has reversed.....

Best performing sector is " not technology "

@ home stocks have slumped

Inflation is a big news item

Commodities are @ all time high or near to

Earnings are improving in technology and other sectors.....

Best performing sector by far is XLB which is sporting an RSI of 75.42

DOW is the second best performing with an RSI of 70.54

3rd best sector is XLE with an RSI of 69.71

Nasdaq & Airlines are both sporting RSI of 49.51 & 49.96

Solar stocks are bargain @ 32.68 RSI, cheapest in my universe.

Even ARKK is @ bargain @ 34.64 RSI

S&P 500 has RSI of 66.28

Russell 2000 RSI is 52.85

SOX @ low low RSI of 47.98

See how market has changed all of a sudden

What was laggards until 1 month ago like energy is near top.

It is very tough to understand why JETS may be lagging while economy is opening up.

That proves It Is tough to follow anything in a blind manner, there are winners and losers in a broad theme also.

It Is highly recommended to play rotation almost on a daily basis in a very broad based portfolio.

I will call today's market as the toughest in a long time as we do not see a clear cut winner.

Base metals may be too hot to handle @ this stage.

Good luck with your own thesis and comfort level.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .66% to .88%....NICE!!!

 Indices closed UP after million dollar salaried economists could not add up job growth, who said math was an easy subject. Technology fared the-best in today's market. DOW & S&P 500 closed @ new all time high.

S&P 500 @ 4232.60, high 4238.04, low 4201.64

RSI @ 66.28

CMF @ 0.126

Internals were :

UP volume led by 3.79 to 1 in NYSE & 2.65 to 1 in Nasdaq

Advancing stocks led by 3.27 to 1 in NYSE & 2.13 to 1 in Nasdaq

Net new 52 wk highs were leading by 824 in NYSE & 212 in Nasdaq

VIX Down 9.24% @ 16.69

Oil @ $64.90

Gold @ $1831.30

Canadian $ @ .7860

Stocks which were UP 2% or more included ACB AG HST MGM SQ

SU TECK M X COIN BYD LULU ROKU NCLH RCL WYNN

SNAP CNQ AAL CCL MGNI FCX CLF SPWR SNOW NXPI

PENN GOOS CGC TOL MTCH NTAP DDOG KBH BA ASML

LRCX UAL EXPE JWN OXY SLB LNG WYNN MGA OSTK 

NKE TLRY.....

In my portfolio...bought VUZI @ $19.88

Here is my portfolio weighting :

SQ           29.65%

MGM       23.46%

CNX        13.77%

NIO         11.75%

AG          10.16%

HST          7.82%

VUZI        2.09%

ACB         1.30%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .37% to .93%....NICE !!!!

 Indices closed UP

S&P 500 @ 4201.62, high 4202.70, low 4147.33

RSI @ 62.75

CMF @ 0.135

Internals were :

UP volume led by 1.77 to 1 in NYSE & .71 to 1 in Nasdaq

Advancing stocks led by 1.33 to 1 in NYSE & .72 to 1 in Nasdaq

Net new 52 wk highs were leading by 544 in NYSE & 30 in Nasdaq

VIX Down 3.97% @ 18.39

Oil @ $64.71

Gold @ $1815.70

Canadian $ @ .7805

In my portfolio

Sold SU @ $22.92

Added 33% NIO @ $37.05

Added 25% CNX @ $13.54

Portfolio ACB CNX AG HST MGM NIO SQ

Stocks which were UP 2% or more included AG

TECK APA PAAS CNQ RUN GOLD NEM KL

CIEN PDD AEM NTNX MGA MS OSTK IBM...

AH Futures UP

AH Asian Markets UP

AH Oil & Gold Down

About market, TAPE was mixed with Nasdaq testing support @ 50 DMA and turned green @ close, a perfect reversal. Internals still remained negative for Nasdaq. Rotation is in high gear and is obvious to everyone that energy is leading big time. Base metals & now precious metals are in vogue. It is all about jobs report @ 830 AM, 1 million jobs is in the cards.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed

S&P 500 @ 4167.59, high 4187.72, low 4160.94

RSI @ 58.30

CMF @ 0.126

Internals were :

UP volume led by 1.62 to 1 in NYSE & .69 to 1 in Nasdaq

Advancing stocks led by 1.25 to 1 in NYSE & .82 to 1 in Nasdaq

Net new 52 wk highs were leading by 553 in NYSE & 94 in Nasdaq

VIX Down 1.69% @ 19.15

Oil @ $65.63

Gold @ $1784.30

Canadian $ @ .7765

In my portfolio added 40% CNX @ $13.57

Portfolio ACB CNX AG HST MGM NIO SQ SU

Stocks which were UP 2% or more included MGM SU

TECK APA HEXO MTCH CVX ASML OXY

SLB WYNN MS.....

AH Futures UP

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, TAPE followed its conviction with rotation out of technology into Oil, Gas, Base Metals, Steel to name a few sector. Nasdaq was the only red for 2 day's,2nd day of distribution. When this shift is recognized by many then we may see a sharp slump. AH earnings were good for PYPL.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 4164.66, low 4128.50, high 4179.04

RSI @ 57.90

CMF @ 0.172

Internals were :

Down volume led by 1.59 to 1 in NYSE & 1.47 to 1 in Nasdaq

Declining stocks led by 1.47 to 1 in NYSE & 2.57 to 1 in Nasdaq

Net new 52 wk highs were leading by 331 in NYSE & 27 in Nasdaq

VIX UP 6.39% @ 19.48

Oil @ $65.69

Gold @ $1776.00

Canadian $ @ .7677

In my portfolio.....Sold BTCC-U.TO @ $10.35

Portfolio ACB CNX AG HST MGM NIO SQ SU

Stocks which closed green included TECK X VUZI MRVL

FCX CLF AMD IBM SHOP CGC TOL NTAP CVX EAT

DHI PHM CRUS SLB NTNX LNG ORCL MS......

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE was under selling pressure and it really looked ugly with 300 points losses in DOW & Nasdaq then buying kicked in big time in DOW stocks which closed green, a perfect close and confirms that we may have completed pullback in DOW stocks for sure. Nasdaq is the BIG IF, we just have to see where it goes in near term.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 4192.66, high 4209.39, low 4188.03

RSI @ 63.32

CMF @ 0.130

Internals were :

UP volume led by 2.18 to 1 in NYSE & .96 to 1 in Nasdaq

Advancing stocks led by 2.19 to 1 in NYSE & 1.16 to 1 in Nasdaq

Net new 52 wk highs were leading by 518 in NYSE & 143 in Nasdaq

VIX Down 1.61% @ 18.31

Oil @ $64.49

Gold @ $1791.80

Canadian $ @ .7723

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

Stocks which were UP 2% or more included CNX AG SU

APA X PAAS CNQ FCX IBM GOLD LYFT KL TOL

KBH CVX MRNA DHI PHM IQ AEM JWN OXY

SLB ORCL M.....

AH Futures Down

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE was split today with DOW & S&P 500 UP and Nasdaq was weak. Oil, Gas, Gold Silver were strong. Internals were mostly positive. Rotation is in full swing, generally out of technology and into energy, precious and base metals plus restart of economy stocks. May is off to a very good start.

BLOG does NOT give buy or sell.

Saleem

US Stock market & Sell in May tradition....

 Sell in May & go away...another wall street tradition....

Why sell in May.....that needs to be probed...

May June July & August are summer months

Europe shuts down for vacation....

USA also follows vacation schedule...

Corporation for the most part treats these 4 months as slower sales

Many factories have down time in Summer...

Sales & earnings are much lower in Q2 & Q3......

That is why focus shifts away from stock market worldwide.....

Fall is when after US Labor Day, we go back to full tilt production...

Back to school is in focus

Black Friday is in focus

Finally Christmas is in focus.....

That is why Q3 & Q4 is so important for Sales & EPS

For this year which is 2021...there may be a shift due to COVID-19

Tourism / Travel related Industries may be in higher focus due to 1 full year of shutdown / lockdown

Hardware technology companies may see sales & eps stagnation or even slowdown more than before

Many technology companies have seen Advanced Sales due to stay home / work from home phenomenon

Back to stock market, they have corrected. most of the sectors are oversold..

Two of the area which are still strong and " not overbought " are S&P 500 & XLB...they are sporting RSI of 61.95 & 60.65....which Is considered healthy......

To deal with sell in may syndrome few ideas are given.....

Book your profit in most technology stocks.....

Be diversified with Financials, Oil / Gas related, Casinos, travel related & precious / base metals as overweight

Good luck with your own thesis about May.

BLOG does NOT give buy or sell

Saleem