Indices closed down .44% to 1.59%....

 Indices closed down.

S&P 500 @ 4307.54, low 4306.24, high 4382.55

RSI @ 34.17

CMF @ -0.240

Internals were :

Down volume led by 2.78 to 1 in NYSE & .54 to 1 in Nasdaq

Declining stocks led by 1.74 to 1 in NYSE & 1.12 to 1 in Nasdaq

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

VIX UP 2.57% @ 23.14

Oil @ $75.03

Gold @ $1757.00

Canadian $ @ .7320

Portfolio CNX HST MGM WEED LSPD NCLH PLTR RIOT UAL XPEV

Stocks which closed UP 1% or more included RIOT XPEV

AFRM NIO AG CCJ BB SQ ROKU FSLR WYNN SNAP 

LAC FUBO AI MSTR RUN SPWR SNOW CSIQ MTCH 

DDOG TWLO SPLK NFLX AMD JKS PANW....

AH Futures Down

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE was in a reversal mode and closed @ low of the day very close to S&P 500  4305.91 which is previous low. Technically today's action is extremely bearish and we may take out lows in every index, this may result in new lows and may get enough buyers in to do some kind of V formation. Stay home stocks fared well today, Solar stocks did well.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 4359.46, high 4385.57, low 4355.08

RSI @ 39.22

CMF @ -0.222

Internals were :

UP volume led by 1.13 to 1 in NYSE & .92 to 1 in Nasdaq

Advancing stocks led by 1.26 to 1 in NYSE & .74 to 1 in Nasdaq

Net new 52 wk lows were leading by 42 in NYSE & 111 in Nasdaq

VIX Down 2.97% @ 22.56

Oil @ $74.83

Gold @ $1722.90

Canadian $ @ .7247

Portfolio CNX HST MGM WEED LSPD NCLH PLTR RIOT UAL XPEV 

Stocks which closed green included GE AAPL CNQ

IBM PFE KL AEM DDOG ELF DHI PHM BA

VICR TSLA NFLX LNG MA V NKE CMG....

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE closed mixed with weakness in Nasdaq & its internals. Market is trying to digest Fed testimony this week and direction / impact of higher interest rates on profitability. Rotation has taken hold and there is a shift towards Energy. We are still holding support levels in major indices which is a good thing.

BLOG does NOT give buy or sell.

Saleem

Indices closed down 1.63% to 2.83%.....

 Indices closed down.

S&P 500 @ 4352.63, low 4346.33, high 4419.54

RSI @ 38.11

CMF @ -0.193

Internals were :

Down volume led by 4.22 to 1 in NYSE & 3.50 to 1 in Nasdaq

Declining stocks led by 4.35 to 1 in NYSE & 4.52 to 1 in Nasdaq

Net new 52 wk lows were leading by 22 in NYSE & 66 in Nasdaq

VIX  UP 23.93% @ 23.25

Oil @ $75.29

Gold @ $1737.50

Canadian $ @ .7303

Portfolio CNX HST MGM WEED LSPD NCLH PLTR RIOT UAL XPEV

Stocks which were UP included ACB M NEM BABA SLB LNG

AH Futures UP

AH Asian Markets Down

AH Oil & Gold Down

About market, TAPE was under selling pressure and ended up testing support in all indices, so far it all held support. S&P 500 low of last week @ 4305.91 should hold in any further pullback. Technicians & strategists were all out looking for usual 10% pullback, they have been plain wrong about each pullback for many many months and may be since pandemic.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 4443.11, low 4436.19, high 4457.30

RSI @ 49.24

CMF @ -0.138

Internals were :

UP volume led by 2.53 to 1 in NYSE & 2.88 to 1 in Nasdaq

Advancing stocks led by 1.41 to 1 in NYSE & 1.61 to 1 in Nasdaq

Net new 52 wk highs were leading by 84 in NYSE & 37 in Nasdaq

VIX UP 5.69% @ 18.76

Oil @ $75.45

Gold @ $1752.00

Canadian $ @ .7353

In my portfolio Bought PLTR @ $27.29

Portfolio CNX HST MGM PLTR WEED LSPD NCLH RIOT UAL XPEV

Stocks which were UP 1% or more included CNX MGM WEED XPEV

SOL AFRM CGC NIO SU CCJ APA ACB M X FSLR WYNN CNQ

LAC CCL SCHW FCX CLF RUN AMD SPWR CSIQ PENN KL

GOOS KRA BYND OXY SLB BABA JKS OSTK TLRY....

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE was strong for reopen stocks in a big way and closed mixed. Internals were positive. Oil, Nat gas stocks led with 10% gains while Oil reached new 3 year high. Nat Gas was UP 7% today alone. Rotation has taken hold in a big way. Very few technology stocks participated today.

BLOG does NOT give buy or sell.

Saleem

US stock market rotation is obvious......

 US stock market has transformed ....

Delta variant news has been discounted for the most part....

Reluctantly and by policies vaccination is being enforced..

High inflation is a reality known to market and being digested

Tension between US & China is dialed down a notch with the release of Huawei owner's daughter & CFO from Canadian Custody...she was welcomed back as State hero live on Chinese TV...

Chips shortage continues as very few companies are interested in making those cheaper chips, they are all racing for high end pricier chips for huge cloud servers...

US stock market staged a huge comeback from selling to below 50 DMA....

DOW is the only major index still slightly below 50 DMA...

SOX among technology is near all time high...a very good sign....

Guess which sector is strongest in US stock market based on RSI...it is Airlines JETS with RSI of 64.93...who could have predicted this.....

Second most sought after sector is Energy XLE is @ 61.54 RSI.....too many skeptics, winter is here Nat Gas is @ 3 year high.....

SOX is @ number 3 with RSI of 57.39.....lots of room to run with series of new highs to come...

DOW is the weakest with RSI of 49.80...

Nasdaq & S&P 500 with RSI of 51.87 & 51.14 has lot of room to catch up.....

Based on sentiment which had become extremely bearish and much needed pullback has occurred, we may be looking @ smooth sailing to series of new all time highs.....

Jobs report on Friday will get its 15 minutes fame...but will move on to real economic activities worldwide.

Most countries are relaxing travel restrictions which should bolster economic revival....

SO...all in all, we are looking @ many positive for stock appreciation going forward.

Please allocate more to " restart " than technology.....

Restart are opening up Airlines, cruise lines, casinos, hotels and energy which could be the biggest beneficiaries.

Good luck with your diversified portfolio and your own analysis / comfort level.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed in a flat TAPE after two days of huge gains, a very healthy performance. Internals were negative though.

S&P 500 @ 4455.48, high 4463.12, low 4430.27

RSI @ 51.14

CMF @ -0.088

Internals were :

Down volume led by 1.22 to 1 in NYSE & 1.05 to 1 in Nasdaq

Declining stocks led by 1.50 to 1 in NYSE & 1.39 to 1 in Nasdaq

Net new 52 wk highs were leading by 32 in NYSE & 14 in Nasdaq

VIX Down 4.72% @ 17.75

Oil @ $73.98

Gold @ $1751.70

Canadian $ @ .7324

Stocks which close 1% or more included NCLH UAL

GE APA CRM M JBLU SAVE TRIP SNAP AAL CCL 

SCHW DASH PANW DAL MTCH UBER FB TSLA

EXPE YELP MA V OSTK....

Here is my portfolio weighting :

HST       24.90%

CNX      23.10%

UAL      11.94%

WEED     8.33%

MGM      7.28%

NCLH     6.88%

XPEV     6.73%

LSPD     6.59%

RIOT     4.25%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 1.04% to 1.48%...NICE !!!!

 Indices closed UP.

S&P 500 @ 4448.98, high 4465.40, low 4406.75

RSI @ 50.20

CMF @ -0.149

Internals were :

UP volume led by 3.88 to 1 in NYSE & 3.42 to 1 in Nasdaq

Advancing stocks led by 1.91 to 1 in NYSE & 2.66 to 1 in Nasdaq

Net new 52 wk highs were leading by 75 in NYSE & 78 in Nasdaq

VIX Down 10.73% @ 18.63

Oil @ $73.30

Gold @ $1749.80

Canadian $ @ .7334

Portfolio CNX HST MGM WEED LSPD NCLH RIOT UAL XPEV

Stocks which were UP 3% or more included MGM NCLH UAL

BB PLTR AFRM APA CRM JBLU SAVE TRIP ROKU RCL 

TWTR WYNN CNQ CCL MGNI SCHW CLF AI EAT KRA

MRNA EXPE QS JWN OXY SLB NTNX LNG YELP

LVS MA OSTK TLRY....

AH Futures UP

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE was strong and closed UP. Most sectors participated in this rally which is very healthy. Financials did very well along with Energy, Airlines, cruise line, Casino stocks. Friday UP close should be very nice to lock more gains, Internals were strong.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .95% to 1.02%...NICE !!!!

 Indices closed UP.

S&P 500 @ 4395.64, high 4416.75, low 4367.43

RSI @ 41.69

CMF @ -0.157

Internals were :

UP volume led by 5.32 to 1 in NYSE & 2.65 to 1 in Nasdaq

Advancing stocks led by 3.88 to 1 in NYSE & 2.40 to 1 in Nasdaq

Net new 52 wk high were leading by 57 in NYSE & low by 5 in Nasdaq

VIX Down 14.33% @ 20.87

Oil @ $72.23

Gold @ $1778.80

Canadian $ @ .7264

Portfolio CNX HST MGM WEED LSPD NCLH RIOT UAL XPEV

Stocks which were UP 4% or more included MGM WEED NCLH RIOT

HOOD AFRM SU APA M BMBL CNQ MGNI GAN PENN SEDG

BA OXY SPWR OSTK....

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE was higher from pre market to close, Internals were mixed. Fed policy statement was market friendly. Most sectors participated with reopen in the forefront. Chinese credit situation got reprieve thus Chinese stocks rebounded.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 4354.19, low 4347.96, high 4394.87

RSI @ 33.48

CMF @ -0.177

Internals were :

UP volume led by .98 to 1 in NYSE & 1.52 to 1 in Nasdaq

Advancing stocks led by 1.32 to 1 in NYSE & 1.36 to 1 in Nasdaq

Net new 52 wk lows were leading by 13 in NYSE & 47 in Nasdaq

VIX Down 5.25% @ 24.36

Oil @ $70.56

Gold @ $1778.20

Canadian $ @ .7206

Portfolio CNX HST MGM WEED LSPD NCLH RIOT UAL XPEV

Stocks which closed green included HST LSPD XPEV

HOOD AFRM SU CNQ LNG LULU AG SQ COIN

ROKU NVTA BMBL SNAP BIDU AMD SNOW

LYFT NXPI ZI ESTC DDOG ENPH JKS 

MRNA ASML TWLO TSLA QS TWTR

CMG.......

AH Futures UP

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE tried to open higher but failed twice and closed mixed. Internals were mixed also. It is all about Fed policy statement @ 2 PM, Fed may surprise everyone by saying " no decision on taper yet " based on Chinese contagion risk.

BLOG does NOT give buy or sell.

Saleem

Indices closed down 1.70% to 2.19%.....

 Indices closed down.

S&P 500 @ 4357.73, low 4305.91, high 4402.95

RSI @ 33.86

CMF @ -0.119

Internals were :

Down volume led by 8.37 to 1 in NYSE & 3.35 to 1 in Nasdaq

Declining stocks led by 5.39 to 1 in NYSE & 4.70 to 1 in Nasdaq

Net new 52 wk lows were leading by 116 in NYSE & 163 in Nasdaq

VIX UP 23.55% @ 25.71 high today 28.79

Oil @ $70.14

Gold @ $1763.80

Canadian $ @ .7175

Portfolio CNX HST MGM WEED LSPD NCLH RIOT UAL XPEV

Stocks which closed green included CNX UAL

JBLU SAVE AAL PFE GOLD KL DAL

EXPE....

AH Futures UP

AH Asian Market Mixed

AH Oil & Gold UP

About market, TAPE was down from premarket to close of the day, @ low of the day DOW almost sank 1000 points. Internals were negative. All old issues plus Chinese property issue came in focus thus capitulation in market today. Low of today should hold.

BLOG does NOT give buy or sell.

Saleem

US stock market technicals have gone south....

 US stock market technical picture has gone south in a decided manner.

Weakest technicals are in Material sector with an RSI @ 33.45 and well below 50 DMA

Second weakest technicals are in DOW with RSI @ 40.46 and decidedly below 50 DMA

Third weakest is S&P 500 with an RSI of 43.57 and below 50 DMA

Among the better technical picture is from SOX which is @ respectable RSI of 54.38 and above 50 DMA although trend is downward sloping

Among improving technical pattern is TAN Solar stocks are behaving much better @ RSI of 53.31and above 50 DMA.

Another group which has shown improvement is XLE energy stocks are showing RSI of 52.76 and is above 50 DMA.

Nasdaq is struggling with RSI of 49.84 and slightly above 50 DMA

IWM Russell 2000 small cap with RSI of 49.58 but barely above 50 DMA

All in all a very weak technical picture of market...

Many factor is contributing to this downward sloping market, First is, Fed is behind the curb is dealing with Inflation which IS rampant worldwide.

Second is 4th wave of Delta variant which is adding to many disruptions....

Third and most surprising, despite rising wages, not too many jobs are being filled in North America, latest estimate over 9 million jobs vacancies....

Other ongoing disruptors are sky high freight rates worldwide, containers rates are 10 fold high..

Shortage of chips is a huge disruptor with no capacity increase in sight.....

Not to mention US China political conflicts on many fronts which IS dragging other nations in this mess.

Chinese internal crackdown / monitoring / rules are also creating uncertainty for investors / traders

Do not recall so many things going in wrong direction @ the same time....

Fed meeting this week will add to uncertainty till Fed policy statement @ 2 PM Wednesday....

Monday / Tuesday could be " very tough for this market.....

Many key index may tumble below 50 DMA .....

Looks like a " washout scenario building up "

Be ready to show conviction / patience until Wednesday and maybe until Friday of this week depending on market interpretation of Fed policy statement...

Good luck with your own interpretation of current market & Fed impact.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .48% to .91%...

 Indices closed down on option expiry day. Internals were negative. S&P 500 closed below 50 DMA.

S&P 500 @ 4432.99, low 4427.76, high 4471.52

RSI @ 43.57

CMF @ -0.084

Internals were :

Down volume led by 2.12 to 1 in NYSE & 1.09 to 1 in Nasdaq

Declining stocks led by 1.97 to 1 in NYSE & 1.00 to 1 in Nasdaq

Net new 52 wk highs were leading by 45 in NYSE & 9 in Nasdaq

VIX UP 11.34% @ 20.81

Oil @ $71.97

Gold @ $1751.40

Canadian $ .7258

Stocks which were UP 1% or more included LSPD NCLH XPEV

HOOD SOL NIO AG NVTA RCL SNAP LAC CCL FUBO

BIDU RUN SPWR TOL ZM KBH ENPH SEDG BYND

TWLO BABA EXPE QS JKS LVS OSTK.....

Here is my portfolio weighting :

HST      24.34%

CNX     23.79%

UAL     11.11%

WEED   8.94%

XPEV    7.57%

MGM    6.90%

LSPD    6.90%

NCLH   6.38%

RIOT    4.07%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 4473.75, low 4443.80, high 4485.87

RSI @ 50.91

CMF @ 0.017

Internals were :

UP volume led by .58 to 1 in NYSE & 1.31 to 1 in Nasdaq

Advancing stocks led by .78 to 1 in NYSE & 1.05 to 1 in Nasdaq

Net new 52 wk high were leading by 64 in NYSE & lows by 2 in Nasdaq

VIX UP 2.81% @ 18.69

Oil @ $72.62

Gold @ $1756.70

Canadian $ @ .7316

In my portfolio added 15% CNX @ $12.11

Portfolio CNX HST MGM WEED LSPD NCLH RIOT UAL XPEV

Stocks which were UP 1% or more included MGM LSPD UAL

PLTR AFRM LULU SQ CRM M VUZI BYD JBLU ROKU

MRVL SWKS AAL FUBO DASH RUN GAN ESTC UBER

DDOG KBH DHI PHM AMAT OLED DDD QS JWN 

ULTA CMG PANW.....

AH Futures Down

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, TAPE was green in pre market with retail sales better than expected but then bears took full control and everything was red, by close only Nasdaq was slightly green. Market seems to be marking time to digest gains and may find catalyst to move higher or sheer selling exhaustion.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .68% to .85%....NICE !!!

 Indices closed UP.

S&P 500 @ 4480.70, high 4486.87, low 4438.37

RSI @ 52.30

CMF @ -0.051

Internals were :

UP volume led by 2.59 to 1 in NYSE & 1.71 to 1 in Nasdaq

Advancing stocks led by 2.15 to 1 in NYSE & 1.71 to 1 in Nasdaq

Net new 52 wk high were leading by 80 in NYSE & lows by 25 in Nasdaq

VIX Down 6.58% @ 18.18

Oil @ $72.61

Gold @ $1794.80

Canadian $ @ .7343

In my portfolio Sold PLTR @ $27.00

Portfolio CNX HST MGM WEED LSPD NCLH RIOT UAL XPEV

Stocks which were UP 2% or more included CNX LSPD RIOT PLTR

HOOD SU TECK APA ACB X BMBL TWTR CNQ LAC SCHW

FCX CLF MSTR DASH DADA DOCU TOL CVX FFIV SNAP

OXY SLB LNG NTNX JKS TLRY.....

AH Futures UP

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, TAPE was strong whole day and closed near high of the day. Internals were mostly positive. Oil & Energy stocks continued their strength with Nat gas @ 7 year high. Metals & copper, nickel stocks were strong also. The question IS, can we get 2 days in a row in same direction mostly positive....may be this time.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .45% to .84%.....

 Indices closed down.

S&P 500 @ 4443.05, low 4435.46, high 4485.68

RSI @ 44.68

CMF @ -0.074

Internals were :

Down volume led by 3.44 to 1 in NYSE & 2.26 to 1 in Nasdaq

Declining stocks led by 2.25 to 1 in NYSE & 2.39 to 1 in Nasdaq

Net new 52 wk high were leading by 25 in NYSE & lows by 44 in Nasdaq

VIX UP .46% @ 19.46

Oil @ $70.46

Gold @ $1807.10

Canadian $ @ .7331

Portfolio CNX HST MGM WEED LSPD NCLH PLTR RIOT UAL XPEV

Stocks which closed green included LSPD PLTR XPEV

AG TECK PYPL TWTR MGNI AMD MSFT PANW

GOOS ZI CRWD ESTC DDOG MRNA ASML

NVDA TWLO TSLA EXPE....

AH Futures UP

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE was weak despite better inflation news. This market profile has been tough all along never predictable from day to day due to Covid-19 disruptions. Some stocks benefitted earlier but are pulling back. It is a uncertain rotation which is very hard to have a winning strategy. Best one can do is to understand unpredictability of this market. Stay broadly diversified with conviction & patience.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 4468.73, high 4492.99, low 4445.70

RSI @ 49.71

CMF @ 0.010

Internals were :

UP volume led by 2.35 to 1 in NYSE & 1.24 to 1 in Nasdaq

Advancing stocks led by 1.60 to 1 in NYSE & 1.02 to 1 in Nasdaq

Net new 52 wk high were leading by 87 in NYSE & lows by 13 in Nasdaq

VIX Down 7.54% @ 19.37

Oil @ $70.45

Gold @ $1794.40

Canadian $ @ .7355

Portfolio CNX HST MGM WEED LSPD NCLH PLTR RIOT UAL XPEV

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

SU AG GE APA M JBLU SAVE TRIP FSLR RCL PAAS

SWKS CNQ CCL MSTR RIDE RUN SPWR CSIQ

INTC LYFT XI KL DAL EXPE OXY SLB LNG 

JKS LVS OSTK.....

AH Futures UP

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE surprised all the technicians and pundits by staging a solid green @ open, by close only Nasdaq was slightly in red. Internals were mostly positive. Reopen, energy, silver, Solar and many technology stocks participated in today's rally.

BLOG does NOT give buy or sell.

Saleem

US Stock market and September.....

 Technicians and market pundits are predicting " a very bad September to remember "

So far by Friday the 10th September, they are generally right in their conclusion....

Mad Money is also joining in the bandwagon by predicting more pullbacks in coming weeks.....

Coming weeks means whole September should be a complete disaster.....

IF i look @ current RSI of 8 popular sectors / Indices they are only couple of days away from a major support...

I will not be surprised IF we have a " turnaround Tuesday "

DOW is sitting @ lowest RSI of 36.99.....below 30 should get support which could be coming Tuesday @ earliest....

I hate to disagree with " highly paid technicians who have the backing of billions of $ @ their call "

Markets go UP

Markets go DOWN

BUT...we have to be ready with our own strategy which could be:

BUY on weakness

SELL to book profit

STAY PUT with conviction & patience

I am in camp 3....stay put category

Market is in the process of digesting all the issues related to Delta variant and may be " nearly done "

TV & CNBC are rating driven...they go with the trend of yesterday to optimize ratings...

Best performing so far is SOX with RSI of 57.31 20 plus points higher than DOW...a good sign of "reversal coming your way "

Nasdaq @ 54.86 RSI is also showing sign of relative strength so far.....

SOX & Nasdaq being strong is a good sign that technology is alive & well...

SO.....September is just a month where bargains / strong stocks are a bit cheaper...nothing more nothing less.

Stay calm and buy when selling seems intense.....

Good luck with your own analysis & comfort level.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .77% to .87%.....

 Indices closed down on inflation fear & Delta variant impact. Indices closed @ low of the day.

S&P 500 @ 4458.58, low 4457.66, high 4520.47

RSI @ 47.54

CMF @ 0.050

Internals were :

Declining volume led by 2.83 to 1 in NYSE & 1.25 to 1 in Nasdaq

Declining stocks led by 1.83 to 1 in NYSE & 1.88 to 1 in Nasdaq

Net new 52 wk highs were leading by 115 in NYSE & 32 in Nasdaq

VIX UP 11.44% @ 20.95

Oil @ $69.72

Gold @ $1792.10

Canadian $ @ .7361

Stocks which closed green included LSPD PLTR

AFRM MU LULU CCJ TECK X TSM BMBL

FSLR QCOM QRVO LAC FUBO FCX DASH

BIDU RUN INTC PANW NXPI GOOS MTCH

ZM UPS ELF TER ASML NVDA LRCX AMAT...

Here is my portfolio weighting :

HST       23.93%

CNX      20.56%

UAL      11.06%

WEED    9.18%

XPEV     7.48%

MGM     7.03%

LSPD     6.88%

NCLH    6.13%

RIOT     4.10%

PLTR    3.65%

Next post by 6 PM on Sunday

BLOG does NOT give buy or sell.

Saleem

Indices closed down .25% to .46%.....

 Indices closed down.

S&P 500 @ 4493.28, low 4492.07, high 4529.90

RSI @ 55.09

CMF @ 0.143

Internals were :

UP volume led by 1.09 to 1 in NYSE & 2.00 to 1 in Nasdaq

Advancing stocks were leading by .97 to 1 in NYSE & 1.13 to 1 in Nasdaq

Net new 52 wk highs were leading by 91 in NYSE & 46 in Nasdaq

VIX UP 4.68% @ 18.80

Oil @ $68.14

Gold @ $1800.00

Canadian $ @ .7347

Portfolio CNX HST MGM WEED LSPD NCLH PLTR RIOT UAL XPEV

Stocks which were UP 2% or more included LSPD NCLH PLTR RIOT UAL

HOOD AFRM SOL BB TECK VUZI JBLU FSLR AAL CCL MGNI QS

FUBO DASH RIDE DADA DAL NTAP MRNA DDD....

AH Futures Mixed

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE was UP then moved down and closed lower for 4 days in a row. There was strength in Airlines & cruise lines which is telling me that this pullback may be coming to an end. Stay well diversified as Delta variant issue is being digested by market.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .13% to .57%....

 Indices closed down.

S&P 500 @ 4514.07, low 4493.95, high 452179

RSI @ 60.42

CMF @ 0.228

Internals were :

Down volume led by 2.23 to 1 in NYSE & 1.63 to 1 in Nasdaq

Declining stocks led by 1.71 to 1 in NYSE & 2.18 to 1 in Nasdaq

Net new 52 wk highs were leading by 90 in NYSE & 29 in Nasdaq

VIX Down .99% @ 17.96

Oil @ $69.30

Gold @ $1793.50

Canadian $ @ .7316

Portfolio CNX HST MGM WEED LSPD NCLH PLTR RIOT UAL XPEV

Stocks which were UP 1% or more included CNX

FSLR DASH SNOW CIEN DDOG EAT FEYE

CRUS MA MCD CMG V

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE was negative until close, internals were negative. Indices marking time until more clarity about Delta variant impact on world economies. This is a much needed pause which is healthy. Try to reposition your portfolio with better mix.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed...

 Indices closed mixed.

S&P 500 @ 4520.03, low 4513.00, high 4535.30

RSI @ 62.02

CMF @ 0.200

Internals were :

Down volume led by 1.66 to 1 in NYSE & .99 to 1 in Nasdaq

Declining stocks led by 2.27 to 1 in NYSE & 1.65 to 1 in Nasdaq

Net new 52 wk highs were leading by 160 in NYSE & 125 in Nasdaq

VIX UP 10.54% @ 18.14

Oil @ $68.35

Gold @ $1798.50

Canadian $ @ .7372

In my portfolio...bought LSPD.TO @ $147.80

Portfolio CNX HST MGM WEED LSPD NCLH PLTR RIOT UAL XPEV

Stocks which were UP 1% or more included MGM NCLH XPEV

CCJ TECK BYD SAVE AAPL TRIP PYPL RCL CCL WYNN 

LVS SNAP AI DASH RIDE UBER BIDU DKNG LYFT 

DADA PENN MTCH PDD JD NVAX MRNA EAT

FB TSLA BABA EXPE NFLX DDD JWN LVS

MA OSTK.....

AH Futures Down

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE was mixed as concern over Delta variant impacting world economy is an unknown. Nasdaq closed @ new all time high. Internals were mostly negative. Rotation is in full swing which is very healthy.

BLOG does NOT give buy or sell.

Saleem

US Stock market sector rotation is ON.....

 US stock market is giving many type of investors & traders to benefit from their strategy.

Some sectors have performed way better than other lagging ones.

Based on current RSI read US real estate is best performing with RSI read of 74.68 in IYR.

Nasdaq is 2nd best with RSI read of 71.10....no news there, everyone is in that sector with their favorite stock.

Most undervalued or lagging is XLE @ 49.19....this sector has been most erratic lately...

Rest of the sector are all into neutral read except S&P 500 which is @ 66.72 RSI.....

DOW is lagging badly @ 54.22 RSI...this number is where most other sectors are going +- 2

SOX RSI is @ respectable 60.58....semiconductor chip shortage is playing heavily.

Most surprising impact of COVID-19 is Chips shortage which may last for another full year until it is normalized.

Other surprising and serious thing is sky rocketing " freight charges " which is impacting every item from groceries to cars to machinery....this may take another 6 months minimum before it eases a bit...

Delta variant is playing havoc everywhere and a new variant is on the way which is 5 times more intense and spreads fast, rumor has it current vaccine does not work on this new variant from Africa.

Looks like stay home may have more room to run and recovery or reopen may be slower than anticipated.

Under these circumstances, a broadly diversified portfolio with a heavy dose of patience plus conviction is the only answer.

Looks like all investing thesis is being put to quick challenge with emerging variant, chip shortage & high high freight charges.

So shop wisely for any consumable items and have ample stock @ hand as prices are going higher.

Inflation is here to stay like it or not.

Gasoline prices are @ its highest level which is another surprise.

All in all lot of challenges for world economy and investors / traders.

Play it safe and be happy with small victories and cherish it.

Good luck with your own thesis and comfort level.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed.....

 Indices closed mixed with intraday new all time highs in Nasdaq & S&P 500. Today's jobs data missed by a mile but market understood Delta variant can cause these misses every so often. Internals were negative.

S&P 500 @ 4535.43, low 4521.30, high 4541.45

RSI @ 66.22

CMF @ 0.220

Internals were :

Down volume led by 1.61 to 1 in NYSE & 1.16 to 1 in Nasdaq

Declining stocks led by 1.30 to 1 in NYSE & 1.38 to 1 in Nasdaq

Net new 52 wk highs were leading by 292 in NYSE & 138 in Nasdaq

VIX unchanged @ 16.41

Oil @ $69.29

Gold @ $1833.70

Canadian $ @ .7472

Stocks which were UP 1% or more included AG CCJ TECK SQ

CRM LSPD TSM BMBL PYPL SNAP PAAS MGNI AI MSTR

PANW GOOS ZI PLAN KL ZM CRWD ESTC NTAP MRNA

TWLO AEM LRCX AMAT.....

Here is my portfolio weighting ;

HST       25.13%

CNX      21.63%

UAL      11.97%

WEED   10.75%

XPEV      8.01%

MGM      7.35%

NCLH     6.38%

RIOT      4.95%

PLTR     3.83%

Next post by Monday 6 PM

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .14% to .37%....NICE !!!!

 Indices closed UP.

S&P 500 @ 4536.95, high 4545.85, low 4524.66

RSI @ 66.63

CMF @ 0.215

Internals were :

UP volume led by 2.06 to 1 in NYSE & 2.05 to 1 in Nasdaq

Advancing stocks led by 1.98 to 1 in NYSE & 1.70 to 1 in Nasdaq

Net new 52 wk highs were leading by 278 in NYSE & 206 in Nasdaq

VIX UP 1.86% @ 16.41

Oil @ $69.99

Gold @ $1811.50

Canadian $ @ .7436

Portfolio CNX HST MGM WEED NCLH PLTR RIOT UAL XPEV

Stocks which were UP 1% or more included

CNX WEED NCLH PLTR UAL 

AFRM NIO SU CNQ SLB OXY LNG

CCJ GE TECK APA LSPD ACB TLRY

NVTA BMBL WYNN GAN LAC CCL

MGNI FCX DKNG SNOW LYFT UBER

PLAN KL CIEN DAL MTCH CVX BA

ASML DDD JKS SOL MGA....

AH Futures UP

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, TAPE closed UP with S&P 500 and Nasdaq making a new all time high. Unemployment claims came in lower than expected which bodes well for tomorrow's jobs report. Internals were positive. Restart stocks were strong today and may do the same IF jobs report is better than expected.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 4524.09, high 4537.11, low 4522.02

RSI @ 64.91

CMF @ 0.257

Internals were :

UP volume led by 1.24 to 1 in NYSE & 1.50 to 1 in Nasdaq

Advancing stocks led by 1.66 to 1 in NYSE & 1.41 to 1 in Nasdaq

Net new 52 wk highs were leading by 308 in NYSE & 137 in Nasdaq

VIX Down 2.25% @ 16.11

Oil @ $68.59

Gold @ $1816.00

Canadian $ .7382

Portfolio CNX HST MGM WEED NCLH PLTR RIOT UAL XPEV

Stocks which were UP 1% or more included SOL RUN ENPH SPWR

CSIQ JKS CCJ BB TECK COIN TSM ROKU NVTA BMBL TWTR

FUBO CLF AI MSTR PINS LYFT UBER GOOS PLAN ESTC KBH

DHI PHM PDD JD MRNA ASML SPLK BABA DDD ...

AH Futures Mixed

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, TAPE closed mixed with Nasdaq making another new all time high. Internals were positive. Private Jobs data was much weaker than expected which will put pressure on Jobs report on Friday. Market may mark time until Jobs report. Look for opportunistic buys IF weakness continues.

BLOG does NOT give buy or sell.

Saleem