US stock market going higher & higher....

 US stock market is going higher & higher is a known fact even to most skeptic trader / Investor

When AAPL & AMZN miss all the estimates and guided lower than consensus, bullish party gets accelerated and we closed higher...

Inflation is rampant worldwide, most things are 100% higher than 1 year ago.....anyone worried NO...not even Fed, inflation could be a "most awaited  transitory phenomenon " using Fed language..

How about " supply chain issues " anyone worried NO... not even most impacted corporations worldwide

How about Quadrupling of container cost, anyone worried NO...not even most corporation.....

How about labor cost which has jumped 25% more for every corporation plus added signing & benefit costs, anyone worried NO....

Oil, Gasoline, Natural Gas @ 7 year high, anyone worried NO

NOT WORRIED because all cost is being passed ON all around, everyone getting ahead with this unique inflation as wages is part of it which equals to ZERO IMPACT.....simplistic math MAYBE

Biggest laggard in this whole COVID-19 phenomenon has been Chinese Stocks as represented by FXI whose current RSI is low low 47.21 and chart looks horrible...any takers?

Guess which is the biggest mover in last few weeks, It Is Solar stocks which is represented by ETF TAN sporting a high high RSI of 72.95

I will also point out that following sector / Index have not made a new all time high SOX IWM and of course FXI

XLE has made a new all time high to surprise of many who did not participated in this Energy gains, most stocks in Energy sector have made new 52 wk highs and may be on the verge of new all time high as we keep going in reopen direction, more oil consumption to rejuvenate energy stock prices..

Another powerful sector post COVID-19 has been Materials which was among the first mover along with stay home stocks, then both sector cooled off but XLB has roared back again, soon it will make another new all time high..

SO complain what you like, but stock market is looking way past " transitory issues " and heading much much higher.....

Please do your own research and find your own comfort level, but it is a " sustained rally environment " which we are being gifted.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .19% to .33%...NICE !!!!

 Indices closed UP despite many issues of inflation cropping up. Bad earnings from AAPL & AMZN did not stop this wall street bullet train. New all time highs in DOW, S&P 500 & Nasdaq on a closing basis. Internals were mixed.

S&P 500 @ 4605.38, high 4608.08, low 4567.59

RSI @ 68.49

CMF @ 0.233

Internals were :

UP volume led by .52 to 1 in NYSE & 1.52 to 1 in Nasdaq

Advancing stocks led by .88 to 1 in NYSE & 1.03 to 1 in Nasdaq

Net new 52 wk highs were leading by 184 to 1 in NYSE & 106 to 1 in Nasdaq

VIX Down 1.63% @ 16.26

Oil @ $83.57

Gold @ $1783.90

Canadian $ @ .7598

Stocks which were UP 1% or more included SU LULUX

FSLR LAC FUBO RUN SPWR SNOW CSIQ INTC

MSFT PANW ESTC ENPH CVX NKE NVDA

TWLO FB TSLA GOOG NFLX OLED QS

OSTK X....

Here is my portfolio weighting :

CNX      23.15%

HST      22.86%

MGM    17.79%

SNAP   11.44%

UAL     10.44%

XPEV    8.21%

NCLH   6.11%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .68% to 1.39%....NICE !!!!

 Indices closed UP.

S&P 500 @ 4596.42, high 4597.55, low 4562.84

RSI @ 67.66

CMF @ 0.215

Internals were :

UP volume led by 2.24 to 1 in NYSE & 3.51 to 1 in Nasdaq

Advancing stocks led by 2.15 to 1 in NYSE & 2.45 to 1 in Nasdaq

Net new 52 wk highs were leading by 142 in NYSE & 52 in Nasdaq

VIX Down 2.65% @ 16.53

Oil @ $82.81

Gold @ $1802.60

Canadian $ @ .7648

Portfolio CNX HST MGM SNAP XPEV NCLH UAL

Stocks which were UP 3% or more included CNX SNAP

SOL AFRM RIOT SU CNQ SQ LSPD SHOP FSLR LAC

MGNI FUBO RUN CSIQ ENPH JKS SPWR NXPI TER

NVAX TSLA OLED QS FSR OSTK NIO....

AH Futures Down

AH Asian Markets Down

AH Oil & Gold Down

About market, TAPE was in a bullish mode on strong earnings, Nasdaq finally made it to a new all time high to join S&P 500 which made another new all time high. Internals were positive. It was a day where technology & other opening stocks were equally strong. AMZN & AAPL reported a miss on all front thus technology is under pressure after hours.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 4551.68, low 4551.66, high 4584.57

RSI @ 63.19

CMF @ 0.109

Internals were :

Down volume led by 4.24 to 1 in NYSE & 1.29 to 1 in Nasdaq

Declining stocks led by 2.42 to 1 in NYSE & 2.25 to 1 in Nasdaq

Net new 52 wk highs were leading by 79 in NYSE & lows by 23 in Nasdaq

VIX UP 6.26% @ 16.98

Oil @ $82.66

Gold @ $1798.80

Canadian $ @ .7659

Portfolio CNX HST MGM SNAP XPEV NCLH UAL

Stocks which were UP 1% or more included XPEV

SOL FSLR RUN SPWR SNOW CSIQ MSFT 

PANW CIEN NVAX TER ASML MCD TSLA

FFIV GOOG JKS LVS ULTA CMG....

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE took a well deserved breather by closing mixed, Nasdaq closed in green. Canadian Central Bank took away QE completely out by a stroke of a pen, also moved up timing of first rate hike to April 2022, will Fed do the same, I do not believe so, tapering will be gradual. Solar & some technology were strong along with EV.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .04% to .18%....NICE !!!!

 Indices closed UP.

S&P 500 @ 4574.79, high 4598.53, low 4569.17

RSI @ 67.68

CMF @ 0.132

Internals were :

Down volume led by 1.48 to 1 in NYSE & .76 to 1 in Nasdaq

Declining stocks led by 1.13 to 1 in NYSE & 1.23 to 1 in Nasdaq

Net new 52 wk highs were leading by 323 in NYSE & 156 to 1 in Nasdaq

VIX UP 4.86% @ 15.98

Oil @ $84.65

Gold @ $1793.40

Canadian $ @ .7608

Portfolio CNX HST MGM SNAP XPEV NCLH UAL

Stocks which were UP 1% or more included SNAP

HOOD LULU CCJ GE WYNN LVS DKNG LAC

CIEN CRWD DDOG UPS ELF NVDA AMZN

LVS MS....

AH Futures Mixed

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, S&P 500 & DOW made new all time highs 3 day in a row. AH earnings report were generally as expected or slightly better, market is overbought and may need digestion now. Oil continued its new 7 year high run which is adding import bill to many economies. Internals were mostly negative.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .18% to .90%....NICE !!!!

 Indices closed UP.

S&P 500 @ 4566.48, high 4572.62, low 4537.36

RSI @ 66.89

CMF @ 0.111

Internals were :

UP volume led by 1.69 to 1 in NYSE & 3.24 to 1 in Nasdaq

Advancing stocks led by 1.91 to 1 in NYSE & 1.77 to 1 in Nasdaq

Net new 52 wk highs were leading by 310 in NYSE & 168 in Nasdaq

VIX Down 1.23% @ 15.24

Oil @ $83.76

Gold @ $1806.80

Canadian $ @ .7624

Portfolio CNX HST MGM SNAP XPEV NCLH UAL

Stocks which were UP 2% or more included CNX XPEV

PYPL SOL BITO PLTR AFRM RIOT NIO SU TECK 

SQ COIN X FSLR LAC FCX CLF MSTR RUN AMD

SPWR SEDG MRNA TSLA DDD QS FSR OXY

LNG OSTK....

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE fought back mild selling due to earnings jitters about FB which was mixed but stock acted positively after hours, a sign that technology selling has been overdone. Oil was the superstar with a new 7 year high , while base metals & steels kept going UP. It was a banner day for EV stocks with TSLA , XPENG, QS made huge move UP or went to new all time high.

BLOG does NOT give buy or sell.

Saleem

US stock market rangebound.....

 US stock market has made a U turn and has hit new all time highs in DOW & S&P 500....

Nasdaq almost 300 points away from making new all time high..

Almost 8% move UP from lows in 3 weeks is pretty convincing that may be direction is still UP, but may need some digestion time....too fast too soon never last too long....

This weeks earnings may decide short term direction, IF there is a pullback in Nasdaq, it may go to its support area which is not too far current level.

SNAP gave a shocker by saying cannot meet too lofty goal of Sales in near term, a nice problem to have as reasons given were external issues. AAPL induced for which solution is on the way plus supply chain issues which the whole world is facing which will take time.

Inflation remains @ sky high level, check your full tank of gasoline cost vs last year...30% jump in a year in a 2% inflation world?

All commodities are near 7 year high....

Heating cost this winter as Natural gas is @ multi year high will bite pocket book badly for many months starting now...

Food inflation is hurting all and will be reflected in higher menu items already happening @ CMG plus others...

A small hope is that canned items in food is lower.....

Then there is near term prospect of Interest rates ticking UP... which affects everyone from Credit Cards to Mortgage cost to overall inflation....

BUT not all is lost....

Air fares & other fares are going UP which should balance out their cost....

Reopen stocks are gearing UP for full operation for Christmas

Thanksgiving may give boost to US economy in a big way.....

Semiconductors are being touted as attractive area to invest....NVDA AMD could be beneficiary

Casino & Gaming stocks are looking good from Macau to Las Vegas as business is picking UP

Crypto currencies have entered a new boom with many ETF & Futures contracts being traded, expect more record highs until $100K for bitcoin, Ethereum Coin all looking good

YES technology stocks should make new highs with Nasdaq in focus with QQQ

All in all US stock market is earnings dependent in near term but direction is UP.

Good luck with your own analysis & comfort level.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed while DOW closed @ new all time high and S&P 500 made another intraday all time high, sign of strength of this market even when technology leaders were in serious selling due to INTC & SNAP earning reports.

S&P 500 @ 4544.90, low 4524.00, high 4559.67

RSI @ 64.83

CMF @ 0.063

Internals were :

UP volume led by 1.01 to 1 in NYSE & 1.02 to 1 in Nasdaq

Advancing stocks led by 1.08 to 1 in NYSE & .77 to 1 in Nasdaq

Net new 52 wk highs were leading by 239 in NYSE & 61 in Nasdaq

VIX UP 2.80% @ 15.43

Oil @ $83.76

Gold @ $1796.30

Canadian $ @ .7613

In my portfolio added 30% SNAP @ $57.00

Stocks which were UP 1% or more included CNX

SU AG APA OXY M X RCL PAAS SCHW CLF

ZM PDD ELF ASML TSLA AMAT NFLX MS

ORCL....

Here is my portfolio weighting :

CNX      23.11%

HST      22.83%

MGM    18.03%

SNAP   11.94%

UAL     10.53%

XPEV    7.56%

NCLH   6.00%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed...

 Indices closed mixed.

S&P 500 @ 4549.78, high 4551.44, low 4526.89

RSI @ 65.69

CMF @ 0.078

Internals were :

Down volume led by 1.68 to 1 in NYSE & .71 to 1 in Nasdaq

Declining stocks led by 1.22 to 1 in NYSE & 1.01 to 1 in Nasdaq

Net new 52 wk highs were leading by 190 in NYSE & 103 in Nasdaq

VIX Down 3.10% @ 15.01

Oil @ $82.50

Gold @ $1781.90

Canadian $ @ .7656

Portfolio CNX HST MGM SNAP XPEV NCLH UAL

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

PLTR AFRM LSPD LULU SQ BMBL FSLR AAL DASH RUN

AMD SPWR SNOW CSIQ NXPI DOCU ZI MTCH NTAP LNG

NVDA TSLA NFLX JWN JKS ULTA NKE CMG....

AH Futures Mixed

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, TAPE closed mixed but S&P 500 made a new all time high. DOW rested today. After hour earnings reaction was negative for IBM, SNAP this may be the real test of the strength of this market, I may venture a guess, it will surprise everyone with positive close.

BLOG does NOT give buy or sell.

Saleem

Mixed close...

 Indices closed mixed.

S&P 500 @ 4536.19, high 4540.87, low 4524.40

RSI @ 64.47

CMF @ 0.058

Internals were :

UP volume led by 2.91 to 1 in NYSE & 1.31 to 1 in Nasdaq

Advancing stocks led by 2.29 to 1 in NYSE & 1.36 to 1 in Nasdaq

Net new 52 wk highs were leading by 262 in NYSE & 90 in Nasdaq

VIX Down 1.34% @ 15.49

Oil @ $83.42

Gold @ $1784.90

Canadian $ @ .7670

In my portfolio Sold RIOT @ $32.50

Portfolio CNX HST MGM SNAP XPEV NCLH UAL

Stocks which were UP 1% or more included CNX RIOT

SOL MGA BITO MU AG GE APA ACB COIN X CLF

BMBL PAAS MSTR DASH BIDU PINS PFE GAN

GOOS TOL KBH SLV DHI PHM BZUN FFIV API

OXY WB OSTK....

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE was strong and made a new intraday all time highs in DOW & S&P 500.Internals were positive. Oil continues its march higher & higher with a new 7 year high close. After hours earnings reaction was less than desirable.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .56% to .74%...NICE !!!!

 Indices closed UP.

S&P 500 @ 4519.63, high 4520.40, low 4496.41

RSI @ 62.99

CMF @ 0.045

Internals were :

UP volume led by 1.82 to 1 in NYSE & 2.05 to 1 in Nasdaq

Advancing stocks led by 1.51 to 1 in NYSE & 1.68 to 1 in Nasdaq

Net new 52 wk highs were leading by 149 in NYSE & 13 in Nasdaq

VIX Down 3.74% @ 15.70

Oil @ $82.96

Gold @ $1770.50

Canadian $ @ .7642

In my portfolio :

Sold SOL @ $7.60

Added 50% SNAP @ $75.15

Portfolio CNX HST MGM SNAP XPEV NCLH RIOT UAL

Stocks which were UP 2% or more included CNX RIOT SOL

HOOD CGC AG BB COIN NVTA FSLR QRVO SWKS 

BIDU PINS RUN SPWR GAN PENN ENPH SEDG

BZUN BABA LAC DDD QS JKS TLRY....

AH Futures Mixed

AH Asian Markets UP

AH Oil & Gold UP

About market, TAPE was in a straight line UP and closed @ high of the day. S&P 500 all set to make a new all time high in 2 trading days. Many sectors participated in today's TAPE. VIX heading towards low of its range and RSI going higher.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 4486.46, high 4488.75, low 4447.47

RSI @ 59.87

CMF @ -0.031

Internals were :

Down volume led by 1.19 to 1 in NYSE & .61 to 1 in Nasdaq

Declining stocks led by 1.09 to 1 in NYSE & 1.24 to 1 in Nasdaq

Net new 52 wk highs were leading by 141 in NYSE & lows by 42 in Nasdaq

VIX UP 0.06% @ 16.31

Oil @ $$82.44

Gold @ $1765.70

Canadian $ @ .7634

In my portfolio :

Sold 40% RIOT @ $30.47

Bought SNAP in pre market @ $78.20, added 50% @ $75.50

Portfolio CNX HST MGM SNAP XPEV NCLH RIOT SOL UAL

Stocks which were UP 1% or more included CNX RIOT SOL

AFRM NIO LULU CCJ TECK SQ APA COIN M AAPL ROKU

MRVL TWTR PINS AMD DKNG MSFT DOCU SHOP ZM 

CRWD DDOG PDD SEDG PHM DHI NVDA TWLO FB

TSLA AMZN NFLX DDD JWN OXY JKS CMG....

AH Futures Mixed

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE closed mixed which is surprisingly bullish going forward, just a pause then move higher. Technology stocks were in the forefront with Energy & Solar stocks. Oil continues its march higher & higher next stop possibly $100. Bitcoin & other variations all moved higher & higher next stop possibly $100,000.

BLOG does NOT give buy or sell.

Saleem

US stock market wants to go higher....

 US stock market is all set to go higher...

US stock market has gone through many digestive process...as listed below :

-Interest rate trend

-Fed tapering policy

-Inflation

-High Oil prices

-High Commodity prices

-Production issues

-Shipping issues

Most of the above issues have been in the forefront for many months and was impacting US stock market. Stock market jitters did affect Fed & other policy makers resulting in clarity and action.

All seems to have been discounted by zig zagging stock market action.

After all is said & done, US stock market has new emerging sectors as normalcy returns to the world and USA in particular.

Based on all technical indicators like RSI, 50 DMA & price action...XLE is a runaway leader. XLE is sporting an RSI of 74.70 and is @ highest level above 50 DMA and 7 year high in prices...

2nd biggest gainer lately is XLF famous financials as they say when " financials move higher market is looking @ new momentum "...RSI @ 62.87...move higher has just started...

XLB materials index is showing renewed strength with RSI @ 62.80...

TAN is 4th best performer based on RSI @ 60.99

Who could have predicted that none of the 3 biggest index DOW, S&P 500 & Nasdaq plus SOX will not make it to top 4 performing ever.....do not recall this happening ....

Worst yet Russell 2000 is way behind @ RSI of 56.12 in IWM....

How things have changed lately in US stock market..

Ironically SOX is the weakest of all sectors in my universe of 10 Index / Sectors with an RSI of 51.40

SO....please pay attention to this new reality of US stock market, it has changed drastically and new sectors as listed above are running away...

Gaming & Casino stocks are looking good especially MGM which made a new multi year high...part of my long term favorite stock always in my portfolio and have traded many times in this pandemic.

Bitcoin to $100,000 is a foregone conclusion.....it was around $27000 not too long ago....

Sometimes Wall Street wisdom does not hold true...so adjust very quickly to new TAPE...

Good luck with your own thesis and comfort level...

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .50% to 1.09%...NICE !!!

 Indices closed UP. S&P 500 is well above 50 DMA and confirming a huge reversal. Most sectors were strong while FB sat in the dust again.

S&P 500 @ 4471.37, high 4475.82, low 4447.69

RSI @ 58.39

CMF @ -0.066

Internals were :

UP volume led by 1.61 to 1 in NYSE & 1.14 to 1 in Nasdaq

Advancing stocks led by 1.11 to 1 in NYSE & .82 to 1 in Nasdaq

Net new 52 wk highs were leading by 232 in NYSE & 92 in Nasdaq

VIX Down 3.32% @ 16.30

Oil @ $82.28

Gold @ $1768.30

Canadian $ @ .7610

Stocks which were UP 1% or more included HST RIOT XPEV

NIO TSLA GE TECK COIN M TSM QCOM AAL LAC JKS

MSTR CSIQ LYFT UBER OENN SHOP MTCH UPS JWN 

SLB LNG MARA MA MS AMZN V M.....

Here is my portfolio weighting :

HST      23.61%

CNX     21.75%

MGM   18.74%

UAL    11.26%

XPEV    7.80%

RIOT     6.53%

NCLH   6.22%

SOL      4.09%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 1.56% to 1.73%....NICE !!!!

 Indices closed UP.

S&P 500 @ 4438.26, high 4439.73, low 4386.75

RSI @ 55.00

CMF @ -0.164

Internals were :

UP volume led by 3.81 to 1 in NYSE & 1.90 to 1 in Nasdaq

Advancing stocks led by 3.58 to 1 in NYSE & 1.96 to 1 in Nasdaq

Net new 52 wk highs were leading by 176 in NYSE & 55 in Nasdaq

VIX Down 9.55% @ 16.86

Oil @ $81.31

Gold @ $1797.90

Canadian $ @ .7634

Portfolio CNX HST MGM XPEV NCLH RIOT SOL UAL

Stocks which were UP 1% or more included HST RIOT

HOOD AFRM CGC MU LULU AG BB APA LSPD

COIN M X TSM AAPL PYPL MRVL QCOM CNQ

SNAP SWKS FCX DASH AMD GAN MSFT TOL

NXPI CRWD ESTC KBH NVDA TWLO LRCX

GOOG SLB MS ULTA....

AH Futures UP

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE was strong and closed @ high of the day. Key indices have conquered key resistance level, expectations / momentum should pull all indices into strong technical level. SOX did very well despite gloomy prediction of chip shortages which TSM guidance does not confirm. Many sectors participated in today's rally.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed...

 Indices closed mixed.

S&P 500 @ 4363.80, high 4372.87, low 4329.92

RSI @ 45.79

CMF @ -0.188

Internals were :

UP volume led by 1.43 to 1 in NYSE & 1.74 to 1 in Nasdaq

Advancing stocks led by 1.73 to 1 in NYSE & 1.40 to 1 in Nasdaq

Net new 52 wk high were leading by 35 & lows by 4 in Nasdaq

VIX Down 6.10% @ 18.64

Oil @ $80.44

Gold @ $1794.70

Canadian $ @ .7547

Portfolio CNX HST MGM XPEV NCLH RIOT SOL UAL

Stocks which were UP 3% or more included SOL XPEV

AFRM LULU AG CCJ BB LSPD BMBL LAC MGNI

FUBO FCX AI SNOW ZI PLAN SHOP ZM CRWD

ESTC DDOG PDD BZUN TWLO AEM SPLK

API AMD MARA.....

AH Futures UP

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE closed mixed which is a victory as Fed minutes confirms tapering starts in 30 days which market wanted confirmation. Canadian bankers are also worried about inflation and are voicing concern / disagreement with Central Bank policy. Technology stocks came back to life after being deeply oversold.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .14% to .34%......

 Indices closed down.

S&P 500 @ 4350.65, low 4342.09, high 4374.89

RSI @ 43.91

CMF @ -0.177

Internals were :

UP volume led by 1.15 to 1 in NYSE & 1.94 to 1 in Nasdaq

Advancing stocks led by 1.38 to 1 in NYSE & 1.42 to 1 in Nasdaq

Net new 52 wk high were leading by 15 in NYSE & lows by 59 in Nasdaq

VIX Down .75% @ 19.85

Oil @ $80.64

Gold @ $1759.30

Canadian $ @ .7556

Portfolio CNX HST MGM XPEV NCLH RIOT SOL UAL

Stocks which were UP 1% or more included MGM NCLH SOL UAL

AFRM AG CCJ TECK SQ APA M X BYD JBLU BMBL FSLR

RUN ENPH SEDG CSIQ JKS SPWR RCL CCL WYNN LVS 

SNAP PAAS LAC MGNI PENN MTCH CRWD ESTC DDOG

BYND QS NKE....

AH Futures Down

AH Asian Market Mixed

AH Oil Down

AH Gold UP

About market, TAPE opened higher but lost steam by close and closed lower. Market is waiting for Fed to deal with runaway inflation which seems to be getting some attention. Fed minutes will be released by 2 PM and will provide some insight to their voting pattern, any majority agreement to deal with inflation may spark a rally.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .64% to .72%.....

 Indices closed down.

S&P 500 @ 4361.19, low 4360.59, high 4415.88

RSI @ 45.08

CMF @ -0.187

Internals were :

Down volume led by 1.59 to 1 in NYSE & .94 to 1 in Nasdaq

Declining stocks led by 1.38 to 1 in NYSE & 1.68 to 1 in Nasdaq

Net new 52 wk high were leading by 106 in NYSE & lows by 63 in Nasdaq

VIX UP 6.55% @ 20.00

Oil @ $80.52

Gold @ $1755.70

Canadian $ @ .7520

Portfolio CNX HST MGM XPEV NCLH RIOT SOL UAL

Stocks which were UP 1% or more included RIOT SOL

SU CNQ SLB LNG CCJ TECK FCX CLF MSTR

RUN SPWR JKS ENPH DSEDG DKNG PANW 

ESTC DDOG EAT AMAT BABA LVS....

AH Futures Down

AH Asian Markets Down

AH Oil & Gold Down

About market, TAPE did a reversal to the down side and closed @ low of the day, not a good technical indicator for US market. Market firmly believe Fed has lost the battle for inflation and is way behind in its policy to contain inflation. I do not have good feeling for October in terms of market direction, it is downhill. Oil prices are scaring everyone with $80+ oil prices as it impacts inflation in a big way.

BLOG does NOT give buy or sell.

Saleem

Two tales of US Stock market.....

 US stock market has 2 personality...

Split personality involves XLE, JETS & IWM

Nasdaq & SOX has a " problem "

US stock market has shifted into " restart mode " in a big and decisive way...

XLE / Energy related stocks are a huge success story, sporting an RSI of 73.53...a number not predicted & hoped for by many famous pundits.....

Nasdaq & SOX are really struggling with RSI of 44.21 & 41.02...this after rally of many days........

JETS has an RSI of 53.92 higher than best of big 3 DOW @ 52.30

Numbers do not lie.....ever

S&P 500 RSI @ 48.49 still below 50 where most traders jump in with ascending formation....

In case my point is not very clear XLE has made a new high with Oil & Natural gas @ 7 year high...

Most trading accounts are playing catchup and are not sure what to do now....

My suggestion to all traders / investors is to have exposure in both which means Oil stocks and Natural Gas stocks plus refiners / Integrated oil companies...

Another exciting area in Oil / Gas is junior exploration companies...which can jump 10 fold based on their discovery and production profile.

Gaming / Hotels are another exciting area with "reopen theme "...they are marking time to make another move higher....

SO...lot of exciting opportunity in many reopen theme and should be in every portfolio.

Good luck with your own analysis and comfort level.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .03% to .51%....

 Indices closed down after a huge miss on Jobs creation. Market however behaved in a manner which gives confidence despite that " all is well ".....Market closed near low of the day with Internals slightly negative.

S&P 500 @ 4391.34, low 4386.22, high 4412.02

RSI @ 48.49

CMF @ -0.149

Internals were :

Down volume led by .92 to 1 in NYSE & 1.24 to 1 in Nasdaq

Declining stocks led by 1.24 to 1 in NYSE & 1.52 to 1 in Nasdaq

Net new 52 wk high were leading by 79 in NYSE & lows by 36 in Nasdaq

VIX Down 3.94% @ 18.77

Oil @ $79.35

Gold @ $1757.40

Canadian $ @ .7520

Stocks which were UP 1% or more included CNX

AFRM SU AG TECK APA M FSLR CSIQ CNQ

SCHW MSTR BIDU BABA JD ESTC CVX

QS OXY SLB JKS LVS MGA ORCL OSTK.....

Here is my portfolio weighting :

HST      23.85%

CNX     22.89%

MGM   17.89%

UAL     11.87%

XPEV    7.07%

NCLH   6.36%

RIOT    6.24%

SOL     3.83%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .83% to 1.05%...NICE !!!!

 Indices closed UP.

S&P 500 @ 4399.76, high 4429.97, low 4383.73

RSI @ 49.47

CMF @ -0.166

Internals were :

UP volume led by 3.36 to 1 in NYSE & 1.96 to 1 in Nasdaq

Advancing stocks led by 2.50 to 1 in NYSE & 2.48 to 1 in Nasdaq

Net new 52 wk highs were leading by 99 in NYSE & 14 in Nasdaq

VIX Down 6.95% @ 19.54

Oil @ $78.30

Gold @ $1759.20

Canadian $ @ .7450

Portfolio CNX HST MGM XPEV NCLH RIOT SOL UAL

Stocks which were UP 2% or more included CNX SOL XPEV

NIO SU CCJ TECK CLF FCX SQ APA LSPD BMBL MRVL 

FSLR SPWR ENPH RUN TWTR SNAP MGNI FUBO MSTR

BIDU JD PDD BABA PINS AMD PENN SHOP ESTC NKE

BYND TWLO SPLK MGA OSTK.....

AH Futures UP

AH Asian Markets UP

AH Oil UP

AH Gold Down

About market, TAPE remained green whole day and closed UP for 3 days in a row. Budget compromise is the key to keep this market moving north. Internals were mostly positive. All sectors participated in today's rally. Oil staying @ multi year high and Natural gas @ 7 tear high. Gasoline prices are in neverland will hit everyone.

BLOG does NOT give buy or sell

Saleem

Indices closed UP .30% to .47%...NICE !!!!

Indices closed UP.

S&P 500 @ 4363.55, high 4365.57, low 4290.49

RSI @ 45.07

CMF @ -0.194

Internals were :

Down volume led by 1.35 to 1 in NYSE & .69 to 1 in Nasdaq

Declining stocks led by 1.31 to 1 in NYSE & 1.59 to 1 in Nasdaq

Net new 52 wk lows were leading by 91 in NYSE & 231 in Nasdaq

VIX Down 1.41% @ 21.00

Oil @ $77.43

Gold @ $1761.80

Canadian $ @ .7382

Portfolio CNX HST MGM XPEV NCLH RIOT SOL UAL

Stocks which were UP 1% or more included RIOT

PLTR AFRM AG PAAS SQ PYPL CRM TRIP

M ROKU MRVL NVDA AMD TWTR MGNI 

FUBO  AI MSTR DASH SPWR JKS ENPH

SNOW PANW LYFT DOCU ZI SHOP TOL

MTCH CRWD DDOG ESTC AMZN MA

SPLK .....

AH Futures UP

AH Asian Markets UP

AH Oil Down

AH Gold UP

About market, TAPE was down about 450 DOW points then reversed on positive budget news and closed @ high of the day, this is a major reversal & confirmation of this UP move. Internals were mostly negative. Technology led the biggest movers today, a nice change from last week.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .92% to 1.25%...NICE !!!!

 Indices closed UP.

S&P 500 @ 4345.72, high 4369.23, low 4309.87

RSI @ 42.79

CMF @ -0.222

Internals were :

UP volume led by 1.79 to 1 in NYSE & 1.27 to 1 in Nasdaq

Advancing stocks led by 1.45 to 1 in NYSE & 1.43 to 1 in Nasdaq

Net new 52 wk high were leading by 45 in NYSE & lows by 123 in Nasdaq

VIX Down 7.23% @ 21.30

Oil @ $78.93

Gold @ $1760.90

Canadian $ @ .7434

Portfolio CNX HST MGM XPEV NCLH RIOT SOL UAL

Stocks which were UP 2% or more included RIOT SOL XPEV

HOOD COIN AFRM SQ PYPL CGC ACB TLRY SU OXY

X ROKU BMBL MRVL TWTR FB SNAP CNQ SCHW 

CLF MSTR MSFT DOCU CRWD DDOG NVDA TWLO

NFLX JKS MGA ORCL MS....

AH Futures Down

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE staged an oversold bounce, internals were mostly positive. We need a confirmation of today's move with a strong close on Wednesday, otherwise we go back to a weak TAPE. Covid-19 plus Delta variant has tendered a serious blow to world economic order, new problems have cropped up with no solution in sight.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .94% to 2.14%.....

 Indices closed down.

S&P 500 @ 4300.46, low 4278.94, high 4355.51

RSI @ 36.60

CMF @ -0.248

Internals were :

Down volume led by 1.21 to 1 in NYSE & 2.64 to 1 in Nasdaq

Declining stocks led by 1.92 to 1 in NYSE & 2.62 to 1 in Nasdaq

Net new 52 wk high were leading by 15 in NYSE & lows by 152 in Nasdaq

VIX UP 8.56% @ 22.96

Oil @ $77.62

Gold @ $1767.60

Canadian $ @ .7425

In my portfolio :

Sold PLTR @ $23.25

Sold LSPD @ $114.75 in Toronto

Sold 15% CNX @ $13.07

Bought SOL @ $6.31

Added 150% MGM @ $44.72

Portfolio CNX HST MGM RIOT XPEV NCLH SOL UAL

Stocks which were UP 1% or more included CNX

SU CNQ APA OXY SLB LNG TECK NEM 

VICR AEM .....

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE was under selling pressure and took out recent lows. Mass selling in many technology stocks while Oil, Nat Gas Base metals & Gold help up well and saw buying rotation. Many are unwinding their allocation from popular technology names as they have been overbought since pandemic.

BLOG does NOT give buy or sell.

Saleem

US stock market climbing wall of worries...

 US stock market has many worries to tackle...

Will Fed Governor stay or not

Supply chain disruption impacting whole world

China facing energy issues

Natural Gas UP 100.97% YTD.....

Inflation is rampant around the world...

Winter is coming, will add to more cost to consumers..

Gasoline UP 91.46% in last 12 months...

Grocery items doubling on many items in last 12 months...

Pandemic is finally taking a toll in everyone wallet....

Fed is losing inflation battle....may have to react quicker and with more intensity.

Reopen of world economy is passing all added cost to end user.....

Stock market has been gyrating to reflect all of the above....

Rotation has taken hold.....

Reopen stocks are breaking out.....Airlines first to do so....

Technology approach of  " buy & hold " will not work....

Technology will take a back seat

By the time reopen catches UP fully...that is a 2 year cycle going forward...

Markets have changed...

Go with " new flow of reopen "

Bitcoin to the moon...is the-new slogan

Airlines, Cruise lines, Gaming, Hotels, Energy stocks are in vogue NOW

Please go back to drawing board and adjust your portfolio to " reopen stocks "

Markets will remain volatile until Fed gets going on Tapering.....

Good luck with your own take on past vs future..

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .82% to 1.43%...NICE !!!!

 Indices closed near upper end of range. WE went below recent lows and found support with buyers picking up bargains to make a complete reversal.

S&P 500 @ 4357.04, high 4375.19, low 4288.52

RSI @ 41.86

CMF @ -0.214

Internals were :

UP volume led by 3.73 to 1 in NYSE & 1.10 to 1 in Nasdaq

Advancing stocks led by 2.17 to 1 in NYSE & 1.63 to 1 in Nasdaq

Net new 52 wk high were leading by 10 in NYSE & lows by 74 in Nasdaq

VIX Down 8.60% @ 21.15

Oil @ $75.88

Gold @ $1758.40

Canadian $ @ .7337

Stocks which closed UP 2% or more included HST MGM NCLH UAL

GE BYD PENN DKNG GAN WYNN LVS JBLU SAVE AAL TRIP 

BMBL RCL TWTR SCHW MSTR PINS IBM SPWR JKS ENPH

SEDG MSFT LYFT UBER DAL ZM DDOG CVX OXY SLB EAT

BA EXPE GOOG YELP MA V ORCL....

In my portfolio....Sold WEED @ $16.88 & $16.90

Added 100% LSPD @ $121.40 & 80% RIOT @ $26.36

Here is my portfolio weighting :

CNX      24.23%

HST      23.81%

UAL     12.15%

LSPD  10.33%

MGM   7.08%

NCLH  6.70%

XPEV  6.53%

RIOT   6.17%

PLTR  3.00%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem