Indices closed down 1.55% to 1.90%.....

 Indices closed down.

S&P 500 @ 4567.00, low 4560.00, high 4646.02

RSI @ 42.59

CMF @ -0.048

Internals were :

Down volume led by 7.40 to 1 in NYSE & 2.18 to 1 in Nasdaq

Declining stocks led by 3.82 to 1 in NYSE & 2.40 to 1 in Nasdaq

Net new 52 wk lows were leading by 342 in NYSE & 577 in Nasdaq

VIX UP 18.42% @ 27.19

Oil @ $66.18

Gold @ $1776.50

Canadian $ @ .7206

Portfolio CNX HST MGM SNAP NCLH UAL

Stocks which closed green included

XPEV LI MSTR OFE 

NVAX HUYA......

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE was under pressure from open on comments by Moderna CEO that current vaccine may not be fully effective in treating OMICRON variant, then Fed Chief Powell drop the faster taper shoe, rest is a lousy close. Hopefully all the surprise is priced in.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .68% to 1.88%....NICE !!!!

 Indices closed UP.

S&P 500 @ 4655.27, high 4672.95, low 4625.26

RSI @ 53.66

CMF @ 0.048

Internals were :

UP volume led by 1.04 to 1 in NYSE & 1.03 to 1 in Nasdaq

Advancing stocks led by 1.31 to 1 in NYSE & .74 to 1 in Nasdaq

Net new 52 wk lows were leading by 128 in NYSE & 285 in Nasdaq

VIX Down 19.78% @ 22.96

Oil @ $69.95

Gold @ $1785.20

Canadian $ @ .7206

Portfolio CNX HST MGM SNAP NCLH UAL

Stocks which were UP 2% or more included SPWR LI AMAT

RIOT MU AG CCJ TECK APA CRM COIN SAVE AAPL

BMBL MRVL RCL QCOM CNQ LAC MSTR AMD 

IBM CSIQ MSFT NXPI ESTC ENPH PDD MRNA

TSLA LRCX FSR JKS PANW.....

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE came back nicely from its Friday's slump. Internals were mixed. There is lot of concern about OMICRON variant as much is unknown but it is in most countries by now, there has not been any serious reaction yet. Scientist from South Africa who discovered this variant assured WHO and everyone that, based on what he has seen & observed, it is of mild reaction.

BLOG does NOT give buy or sell.

Saleem

US stock market faces a new challenge OMICRON.....

 Everything was going good in US & world stock markets, economy was opening up in an accelerated format......

Oil was hitting highest point in 7 years.....

Most Indices were making series of new all time highs.....

Fed had steady & continuity in leadership under Powell..

Stimulus bill passed in USA.....

AAPL was making series of new all time highs as holiday sales were percolating...

Bitcoin was hitting new all time highs...

AND YES...there was lot to be thankful on this "Thanksgiving day "

BUT

Everything was put on hold by a variant of COVID-19 which is much faster to spread with no known cure which now has a name as of Friday " OMICRON "

Most nations are very quickly reacting to control this new variant by imposing total ban from many countries in Africa......

South Africa is upset that restriction is being imposed and feels being penalized for discovering OMICRON instead of being appreciated...OMICRON did not originate in South Africa for the record....it was a neighboring country.

The question is what OMICRON will do to all the preparation to normalcy worldwide, my guess is that with proper protocol which includes vaccination, booster shots, things may proceed on its own pace.

Markets are deeply oversold as of Friday's close.

Opportunistic buying should be done with exposure to all sectors.

Technology stocks behaved much better overall especially @ home stocks came to life again.

I do not believe that we are going back to lockdown days with new variant.

From Monday, I expect pragmatic and workable solution to deal with OMICRON will be implemented.

Most protocol is in place with added screening from impacted countries to follow.

Good luck with your own analysis of OMICRON variant.

BLOG does NOT give buy or sell.

Saleem

Indices closed down 2.23% to 2.53%.....

 Indices closed down in reaction to South African variant of COVID-19 which is much more contagious, many countries have banned passengers from that & surrounding countries or who have travelled to those destinations or have been exposed. Nobody was ready for this news thus sharp selling on the news.

S&P 500 @ 4594.62, low 4585.43, high 4664.63

RSI @ 44.44

CMF @ 0.081

Internals were :

Down volume led by 8.14 to 1 in NYSE & 2.42 to 1 in Nasdaq

Declining stocks led by 5.84 to 1 in NYSE & 3.99 to 1 in Nasdaq

Net new 52 wk lows were leading by 264 in NYSE & 310 in Nasdaq

VIX UP 54.04% @ 28.62

Oil @ $69.22

Gold @ $1808.90

Canadian $ @ .7235

Stocks which closed green included SNAP

AFRM ROKU AI DASH BIDU PINS

PFE MRNA NVAX DMNG SNOW

NEM DOCU ZM CRWD DDOG

BYND TWLO AEM NFLX....

Here is my portfolio weighting :

MGM      26.19%

CNX       23.32%

HST       23.13%

SNAP    11.22%

UAL         9.92%

NCLH      6.22% 

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed.....

 Indices closed mixed.

S&P 500 @ 4701.46, high 4702.87, low 4659.89

RSI @ 65.87

CMF @ 0.166

Internals were :

UP volume led by 1.29 to 1 in NYSE & 2.45 to 1 in Nasdaq

Advancing stocks led by 1.15 to 1 in NYSE & 1.46 to 1 in Nasdaq

Net new 52 wk lows were leading by 49 in NYSE & 208 in Nasdaq

VIX Down 4.13% @ 18.58

Oil @ $78.39

Gold @ $1784.30

Canadian $ @ .7339

Portfolio CNX HST MGM SNAP NCLH UAL

 Stocks which closed UP 2% or more included PLTR

XPEV AFRM RIOT SU SQ LSPD BYD ROKU 

NVTA CNQ FUBO AI AMD SNOW PANW

PENN SHOP NTAP PDD NVDA TWLO

BABA DDD LNG MA V TLRY....

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE behaved much better with much better participation from all sector including technology. Indices closed mixed, Internals were also mixed. Jobs picture remained tight. World markets are open on Thursday while USA celebrates Thanksgiving. Friday should be a positive day after recent selling.

BLOG does NOT give buy or sell.

Enjoy your Thanksgiving!!

Next BLOG on Friday around 7 PM....

Saleem

Indices closed Mixed....

 Indices closed mixed.

S&P 500 @ 4690.70, high 4699.39, low 4652.66

RSI @ 64.26

CMF @ 0.072

Internals were :

Down volume led by .78 to 1 in NYSE & 1.06 to 1 in Nasdaq

Declining stocks led by 1.27 to 1 in NYSE & 1.39 to 1 in Nasdaq

Net new 52 wk lows were leading by 166 in NYSE & 416 in Nasdaq

VIX UP 1.10% @ 19.38

Oil @ $78.50

Gold @ $1783.80

Canadian $ @ .7284

In my portfolio :

Sold XPEV @ $51.20

Added 60% MGM @ $42.51

Portfolio CNX HST MGM SNAP NCLH UAL

Stocks which were UP 2% or more included HST SNAP XPEV

AFRM BITO SU CCJ APA CNQ FCX TD KBH JD CVX 

WB LRCX EXPE OXY SLB MA MS.....

AH Futures Mixed

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, TAPE was mixed @ close with DOW firmly UP with S&P 500 closing green, Nasdaq was weak again and closed lower, this confirmation of down cycle for Nasdaq is very disturbing for overall market as majority of investors & traders are technology focus. This TAPE has become very difficult, booking any profit has to be a very high priority. Only Oil / Energy sector seems to have bullish trend.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 4682.94, low 4582.17, high 4743.83

RSI @ 63.09

CMF @ 0.013

Internals were :

Down volume led by .82 to 1 in NYSE & 1.68 to 1 in Nasdaq

Declining stocks led by 1.28 to 1 in NYSE & 1.76 to 1 in Nasdaq

Net new 52 wk highs were leading by 24 in NYSE & lows by 339 in Nasdaq

VIX UP 7.04% @ 19.17

Oil @ $76.75

Gold @ $1806.30

Canadian $ @ .7310

Portfolio CNX HST MGM SNAP XPEV NCLH UAL

Stocks which were UP 1% or more included XPEV 

MU NIO GE TECK APA X BYD WYNN LVS

AAL SCHW CLF DKNG GAN PANW UPS

PENN NVAX MRNA TSLA OXY MS 

ULTA .....

AH Futures Mixed

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, TAPE made a u turn @ close and closed @ low of the day, technically, it was a negative reversal day with Nasdaq showing serious selling. S&P 500 made an intraday new all time high but closed negative. Internals were mostly negative with Nasdaq internals were sharply negative. Tuesday close should be watched closely to see IF confirmation of today's negativity comes.

BLOG does NOT give buy or sell.

Saleem

Message of US stock market.....

 US stock market has confused many participants since COVID-19.

We all have have been surprised initially by the strength of stay @ home stocks which quadrupled.

Then we were surprised by the strength of Vaccine related stocks which also quadrupled.

Then we thought that this is too simplistic focus, cannot last forever....

So many focus were shifted to Fed & and its policies....

Inflation was ramping big time..

Chips shortage developed

Fear of interest rate hikes were talked about

Shipping cost jumped many fold

Oil jumped to 7 year high

Crypto currency were making new highs

World economies were opening up

But shortage of many goods persists

Labor were in short supply all of a sudden

Wages spiked to new highs in all sector

Despite all of the above challenges, somehow Nasdaq & SOX seems to be winning big time

Confused or not Technology kept making new highs..

Famous technology names are the easiest way to riches.....

Those who handicap their bets are losing out big time, as same old same old keep working.

When I look @ RSI SOX is strongest with RSI of 74.70 and is hitting new all time high...

Nasdaq is also hitting new all time high with RSI @ 69.13

Can you imagine even well known DOW 30 stocks are gone to the dogs with RSI @ 46.29

Russell 2000 is struggling and near 50 DMA with RSI of 48.65

Absolutely 3 weakest in my universe is JETS, XLE & XLF their RSI @ 36.59, 37.45 & 38.94

SO this is not a market of " all boats are being lifted "

This is a very " selective stock market " where strong is getting stronger " & " weak getting weaker "

A lesson we all need to learn & adjust quickly this reality of " current Wall Street "

SO let us go back to drawing board and get involved in winning group as soon as possible...

Time & $$$ waits for nobody!

Good luck with your own analysis & comfort level/

BLOG does NOT give buy or sell.

Saleem

Indices Closed Mixed.....

 Indices closed mixed but Nasdaq made another new all time high, a habit which major Indices are doing repeatedly. Internals were mostly negative thus a truly mixed close.

S&P 500 @ 4697.96, low 4694.22, high 4717.75

RSI @ 67.02

CMF @ 0.144

Internals were :

Down volume led by 2.71 to 1 in NYSE & .98 to 1 in Nasdaq

Declining stocks led by 1.94 to 1 in NYSE & 1.63 to 1 in Nasdaq

Net new 52 wk lows were leading by 4 in NYSE & 160 in Nasdaq

VIX UP 1.82% @ 17.91

Oil @ $76.10

Gold @ $1851.60

Canadian $ .7364

Stocks which closed UP 1% or more included

RIOT MU COIN AAPL FSLR LAC CLF

RUN SPWR CSIQ JKS ENPH SEDG

PANW DADA JD MRNA NKE NVDA

FB TSLA LRCX YY QS FSR OSTK....

Here is my portfolio weighting :

HST       23.80%

CNX      22.70%

MGM    17.17%

SNAP   11.48%

UAL     10.73%

XPEV     8.49%

NCLH    5.63%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Will write BLOG from Friday the 19th November....

 Got in last night from Michigan, not feeling well @ all.

Hoping to write BLOG from this Friday around 7 PM...

Thanks Stocktrader1996 for your comments, recap and rationale for your trading activity

Saleem

US stock market a runaway bull market...

 US stock market has not given this clear signal for a major bull market since 1999 for Y2K stampede.

There was tremendous fear back then as to what will happen to all computers because of famous four digits 2000.....

Lot of selling took place as all computers were facing imminent problems due to 1999 turning into 2000...midnight was feared the most on the eve of Y2K....

As we all know that it was the biggest bull run which took place in whole 1999 many stocks went into valuation which made no sense, NO SALES ZERO HOPE for profit all valuations were based on eyeballs.

Most were technology companies....many went bust many survived...

NOW

Due to COVID-19 many industries or sectors came to a full stop like ZERO business like cruise lines...many business went to 10% of business in shutdown around the world like Airlines, Casinos, Hotels, Ride Sharing....

This was a horrendous drop in business for many many Industries.....

SO...NOW we are getting back to normalcy in all of those above mentioned Industries.....

SO from major losses and raised financing to survive....these industries are going to be profitable from NOW to 2nd half of 2022.....

This slow improvement in profitability will show in major averages going forward.....

All major averages have already made series of new highs, those were the result of most Technology companies became mega success story of @ home trend.....

NOW the trend is reversing.....technology is taking a back seat while restart economy stocks will be in vogue for many years.....

Rethink your strategy and allocate appropriately....

Good luck with your own comfort level!

I am away for 1 week to meet my mother in Michigan USA, hopefully Stocktrader1996 will update his thought, strategy and trades under message of this page. His rationale for all buys & sell is based on solid research and timing. Have know him since heady days of Yahoo message boards which was bigger than current well advertised wallstreet page / message board...those were the days of 1996...thus his handle reflects that!

BLOG does NOT give buys or sell.

Saleem

Indices closed UP .20% to .56%....NICE !!!!

 Indices closed UP near high of the day & in new all time highs. Jobs report cheered everyone up and restart stocks took off. Most sectors participated in today's run for the roses. Internals were all positive.

RSI @ 76.39

CMF @ 0.370

Internals were :

UP volume led by 2.09 to 1 in NYSE & 1.19 to 1 in Nasdaq

Advancing stocks led by 2.16 to 1 in NYSE & 1.22 to 1 in Nasdaq

Net new 52 wk highs were leading by 484 in NYSE & 352 in Nasdaq

VIX UP 6.74% @ 16.48

Oil @ $81.27

Gold @ $1816.80

Canadian $ @ .7556

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

AG GE BYD JBLU SAVE TRIP RCL WYNN LVS QCOM CNQ

AAL CCL PINS PFE GOLD LYFT GOOS DAL UBER DDOG

LITE EAT ELF EXPE FSR MA V.....

Here is my portfolio weighting :

HST      23.52%

CNX     22.29%

MGM   17.91%

UAL    11.25%

SNAP 10.90%

XPEV  7.70%

NCLH 6.43% 

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 4680.06, high 4683.00, low 4662.59

RSI @ 75.04

CMF @ 0.361

Internals were :

Down volume led by 1.95 to 1 in NYSE & .96 to 1 in Nasdaq

Declining stocks led by 1.12 to 1 in NYSE & 1.23 to 1 in Nasdaq

Net new 52 wk highs were leading by 386 in NYSE & 320 in Nasdaq

VIX UP 2.25% @ 15.44

Oil @ $78.81

Gold @ $1793.50

Canadian $ @ .7536

Portfolio CNX HST MGM SNAP XPEV NCLH UAL

Stocks which were UP 1% or more included XPEV

AFRM MU SU LULU APA CRM TSM MRVL

QCOM AMD SNOW NXPI GOOS ZI PLAN

SHOP CIEN MTCH CRWD ESTC DDOG 

LITE EAT TER DHI PHM NKE LSCC

ASML NVDA MCD FB TSLA LRCX

AMZN AMAT GOOG LAC NIO 

AMAT MA CMG....

AH Futures Mixed

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE closed mixed but made new all time highs in DOW, S&P 500  and Nasdaq either on a closing basis or intraday basis. Internals were mixed. After hours earnings report were mostly negative but since it is a powerful bull market, effect of bad earnings does not last long, they always see silver lining somewhere. It is about jobs report @ 830 AM, it should be better than expected which should change gloom into happy hour again.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .29% to 1.04%....NICE !!!!

 Indices closed UP.

S&P 500 @ 4660.57, high 4663.46, low 4621.19

RSI @ 73.47

CMF @ 0.305

Internals were :

UP volume led by 2.21 to 1 in NYSE & 2.06 to 1 in Nasdaq

Advancing stocks led by 2.01 to 1 in NYSE & 2.10 to 1 in Nasdaq

Net new 52 wk highs were leading by 401 in NYSE & 310 in Nasdaq

VIX Down 5.80% @ 15.10

Oil @ $80.86

Gold @ $1763.90

Canadian $ @ .7578

Portfolio CNX HST MGM SNAP XPEV NCLH UAL

Stocks which were UP 2% or more included HST UAL

BB HOOD AFRM RIOT CCJ COIN M BYD JBLU

SAVE BMBL RCL QCOM QRVO AAL AI MSTR 

DASH AMD LYFT UBER NXPI MTCH KBH 

ASML TSLA AMZN BABA QS JWN JKS

WYNN OSTK ULTA NKE TLRY.....

AH Futures Mixed

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, TAPE closed UP after Fed statement confirmed that their policy is as verbalized over & over, skeptics had to cover their short or joined the party as we closed @ high of the day with a brand new all time highs in DOW, S&P 500 & Nasdaq. Internals were positive. Oil along with many things coming down to test their support, even US housing does not look too hot lately.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .34% to .39%....NICE !!!!

 Indices closed UP.

S&P 500 @ 4630.65, high 4635.15, low 4613.34

RSI @ 70.86

CMF @ 0.309

Internals were :

UP volume led by .67 to 1 in NYSE & 1.23 to 1 in Nasdaq

Advancing stocks led by .92 to 1 in NYSE & 1.02 to 1 in Nasdaq

Net new 52 wk highs were leading by 305 in NYSE & 240 in Nasdaq

VIX Down 2.32% @ 16.03

Oil @ $83.91

Gold @ $1789.40

Canadian $ @ .7578

Portfolio CNX HST MGM SNAP XPEV NCLH UAL

Stocks which were UP 2% or more included BITO RIOT AFRM

AI MSTR PFE GOOS CIEN NVAX LITE MRNA NVDA

JWN OSTK.....

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE ignored all the noise about upcoming Fed policy decision on Wednesday @ 2 PM and closed near high of the day and @ new all time highs in DOW, S&P 500 & Nasdaq. Fed policy statement will be the biggest non-event as everything is known even all the steps of how when & how many interest rate hikes in 2022 which is 2 hikes which will bring Fed funds rate to a sky high .75% which this entire universe wishes for. Friday's job report may be a better indicator of how many Americans are willing to work for wages.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .18% to .63%....NICE !!!

 Indices closed UP.

S&P 500 @ 4613.67, high 4520.34, low 4595.06

RSI @ 69.27

CMF @ 0.288

Internals were :

UP volume led by 3.94 to 1 in NYSE & 2.76 to 1 in Nasdaq

Advancing stocks led by 2.84 to 1 in NYSE & 3.05 to 1 in Nasdaq

Net new 52 wk highs were leading by 307 in NYSE & 257 in Nasdaq

VIX UP .92% @ 16.41

Oil @ $84.05

Gold @ $1795.80

Canadian $ @ .7641

Portfolio CNX HST MGM SNAP XPEV NCLH UAL

Stocks which were UP 4% or more included NCLH UAL BB

SOL CGC M VUZI SAVE ROKU NVTA RCL WYNN CCL

FUBO BIDU GAN PENN JD NVAX BZUN TSLA SOFI

DDD API AMD LVS TLRY....

AH Futures Down

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE surprised many by closing near high of the day, DOW, S&P 500, Nasdaq closed @ new all time high. Russell 2000 jumped the most and is staring @ new all time high, talk of confirmation from every major index, it is happening. Internals were very strong. Too many skeptics and shorts being caught off guard with their simplistic theory, its Fed tapering week thus indices will collapse, guess what, it is all priced in no surprise there.

BLOG does NOT give buy or sell.

Saleem