Indices closed down .11% to .25%....

 Indices closed down on the last day of trading of 2022. Internals were mostly negative. 

S&P 500 @ 3839.50, low 3800.34, high 3839.85

RSI @ 45.18

CMF @ -0.032

Internals were :

Down volume led by 1.50 to 1 in NYSE & .63 to 1 in Nasdaq

Declining stocks led by 1.50 to 1 in NYSE & 1.03 to 1 in Nasdaq

Net new lows were leading by 71 in NYSE & 76 in Nasdaq

VIX UP 1.07% @ 21.67

Oil @ $80.26

Gold @ $1826.20

Canadian $ @ .6463

Stocks which closed green included MGM

GOOS DAL TPR MRVL HST APA SU 

SLB OXY CVX SNAP MOS FSLR 

LULU COIN M WYNN LVS SCHW

AI MSTR PINS CSIQ LYFT MTCH

CRWD LITE SEDG BA TWLO

TSLA NFLX .....

Here is my portfolio weighting :

ARKK      61.95%

MGM       21.51%

LSPD      11.07%

SOL         5.47%

Next post by 6 PM on Monday

BLOG does NOT give buy or sell.

HAPPY NEW YEAR !!!

Saleem

Indices closed UP 1.05% to 2.59%...NICE !!!

 Indices closed UP.

S&P 500 @ 3849.28, high 3858.18, low 3805.45

RSI @ 46.00

CMF @ -0.065

Internals were :

UP volume led by 9.80 to 1 in NYSE & 8.14 to 1 in Nasdaq

Advancing stocks led by 4.80 to 1 in NYSE & 4.30 to 1 in Nasdaq

Net new lows were leading by 51 in NYSE & 120 in Nasdaq

VIX Down 3.16% @ 21.44

Oil @ $78.12

Gold @ $1826.00

Canadian $ @ .6450

Portfolio ARKK LSPD MGM SOL

Stocks which were UP 5% or more included ARKK LSPD SOL

XPEV SHOP SQ COIN MGNI AI DASH LYFT 

DOCU ZI DDOG BYND TSLA....

AH Futures Down

AH Asian Markets UP

AH Oil UP

AH Gold Down

About market, TAPE was green and closed near high of the day, Nasdaq was the strongest. This was a deeply oversold rally and cannot be taken as change in direction. Tomorrow is the last day of trading which may reflect IF losses are being booked or 2023 allocation is kicking in. Please look @ your portfolio for 2023 exposure, IF changes are needed, then selling losers may not be a bad idea on last day of trading.

BLOG does NOT give buy or sell.

Saleem

Indices closed down 1.10% to 1.35%.....

 Indices closed down.

S&P 500 @ 3783.22, low 3780.78, high 3848.32

RSI @ 39.07

CMF @ -0.009

Internals were :

Down volume led by 5.18 to 1 in NYSE & 1.80 to 1 in Nasdaq

Declining stocks led by 3.77 to 1 in NYSE & 1.97 to 1 in Nasdaq

Net new lows were leading by 189 in NYSE & 404 in Nasdaq

VIX UP 2.26% @ 22.14

Oil @ $78.96

Gold @ $1815.80

Canadian $ @ .6408

Portfolio ARKK LSPD MGM SOL

Stocks which closed green included

SCHW DKNG SNOW LYFT

UBER DOCU MTCH NVAX

ELF TWLO TSLA NTNX....

AH Futures Mixed

AH Asian Markets Down

AH Oil & Gold Down

About market, TAPE was under selling pressure again due to year end loss selling. Internals were negative. Many market theories have been put to bed by this relentless bear market, this bear has cut most stocks into minimum half some by 75%. Stay with your highest conviction picks, sooner or later they should come to life.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed.....

 Indices closed mixed.

S&P 500 @ 3829.25, low 3813.22, high 3846.65

RSI @ 42.61

CMF @ .024

Internals were :

Down volume led by .87 to 1 in NYSE & 2.74 to 1 in Nasdaq

Declining stocks led by 1.18 to 1 in NYSE & 1.93 to 1 in Nasdaq

Net new lows were leading by 126 in NYSE & 434 in Nasdaq

VIX UP 3.74% @ 21.65

Oil @ $79.53

Gold @ $1823.10

Canadian $ @ .6409

Portfolio ARKK LSPD MGM SOL

Stocks which closed green included MGM

JD PDD BABA BIDU TPR CNX APA

SU CNQ CVX OXY SLB MGA LULU

AG CCJ GE TECK CRM WYNN LVS

PAAS SCHW FCX CLF IBM GOLD

NEM AEM CIEN LITE ELF NKE

BA MA V X M ULTA....

AH Futures UP

AH Asian Markets Mixed

AH Oil UP

 AH Gold Down

About market, TAPE was under selling pressure again BUT DOW closed higher while Nasdaq took it on the chin again with TESLA AAPL & semiconductors were weak. Year end selling has taken a hold. It IS a tough market to navigate until a new catalyst comes into play.

BLOG does NOT give buy or sell.

Saleem

Difficult US stock market continues....

 As we are in the-most bullish week in trading calendar, which IS week of Christmas .....

What will happen IS NOT the question BUT which sector will benefit remains very elusive.

This market rewards different stocks sporadically

Market is still trying to handicap US economy and its winners or losers

So far results are mixed....

The minute you think some stocks are looking strong, then comes the news either from China or Fed and everything is taken to cleaners bar no one......

SO we keep going back to drawing board more confused than ever....

SO...here is the confused take on current state of US stock market....

Based on my only indicator which guides which IS RSI.......

GLD is is the undisputed leader as of Friday above both 50 DMA & 200 DMA with an RSI of 55.99

XLE is in second place above 200 DMA but below 50 DMA with RSI of 52.60

Ironically I have zero exposure in both.....DOW is in 3rd place above 50 DMA but below 200 DMA with RSI of 48.73

Guess which IS the weakest, It was a given ...world famous NASDAQ below 50 & 200 DMA , RSI of 39.00

2nd worst Is TAN / Solar below 50 & 200 DMA, RSI @ 40.86

Based on the above and based on the-best week of the year IF you are exposed to GLD & XLE you are in great shape relatively speaking depending when & where you got exposure...see nothing is a given on wall & broad...too many variables.....

For others like me who are into other sectors which IS making new lows, It Is a long wait.....

Some sectors of market is really really out of favor like Technology and Semiconductors and Semi equipment makers.

There is not much one can do in this hyper-rotation market where each sector is beaten down day after day.

Popular focus among technician Is that AAPL & MSFT must make new lows for market to make a real bottom.....

Hopefully this week may bring some $$ to beaten down stocks to celebrate Christmas week.

Good luck with your own exposure and your take on future direction of this market.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .21% to .59%...NICE!!!

 Indices closed @ high of the day despite rising yield. It was an oversold bounce with highest negativity with more bearish predictions.

S&P 500 @ 3844.82, high 3845.80, low 3797.01

RSI @ 43.85

CMF @ -0.005

Internals were :

UP volume led by 2.50 to 1 in NYSE & 1.32 to 1 in Nasdaq

Advancing stocks led by 2.06 to 1 in NYSE & 1.09 to 1 in Nasdaq

Net new lows were leading by 68 in NYSE & 203 in Nasdaq

VIX Down 5.01% @ 20.87

Oil @ $79.56

Gold @ $1804.20

Canadian $ @ .6409

Stocks which were UP 1% or more included

HST CNX APA SLB CVX OXY SU

NTR TJX MU CCJ COIN M TRIP

AAL SCHW FCX AMD LYFT AEM

MTCH AMZN EXPE GOOG JWN

LNG OSTK....

Here is my portfolio weighting :

ARKK         62.12%

MGM          21.75%

LSPD         10.56%

SOL            5.37%

Next post by 6 PM on Monday.

MERRY CHRISTMAS !

BLOG does NOT give buy or sell.

Saleem

Indices closed down 1.05% to 2.18%....

 Indices closed down.

S&P 500 @ 3822.39, low 3764.49, high 3853.26

RSI @ 41.57

CMF @ -0.040

Internals were :

Down volume led by 2.90 to 1 in NYSE & 1.76 to 1 in Nasdaq

Declining stocks led by 3.78 to 1 in NYSE & 2.04 to 1 in Nasdaq

Net new lows were leading by 229 in NYSE & 390 in Nasdaq

VIX UP 9.47% @ 21.97

Oil @ $78.29

Gold @ $1795.30

Canadian $ @ .6343

Portfolio ARKK LSPD MGM SOL

Stocks which closed green included

TPR HST SNAP AG CLF NEM

KBH LITE EAT ELF DHI PHM

NKE BABA BROS ULTA....

AH Futures UP

AH Asian Markets Down

AH Oil & Gold UP

About market, TAPE surprised everyone by slumping from open and made lower lows then recovered to close above low of the day, some good news some bad news. Technology has resumed its downward spiral in many key stocks and sectors Semiconductors & TSLA in particular, not a good omen for this market.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 1.49% to 1.60%...NICE !!!

 Indices closed UP.

S&P 500 @ 3878.44, high 3889.82, low 3839.49

RSI @ 45.90

CMF -0.032

Internals were :

UP volume led by 6.92 to 1 in NYSE & 1.99 to 1 in Nasdaq

Advancing stocks led by 3.43 to 1 in NYSE & 2.10 to 1 in Nasdaq

Net new lows were leading by 59 in NYSE & 236 in Nasdaq

VIX Down 6.56% @ 20.07

Oil @ $78.29

Gold @ $1825.40

Canadian $ @ .6374

In my portfolio :

Sold PLTR @ $6.20

Added 20% LSPD @ $13.81

Portfolio ARKK LSPD MGM SOL

Stocks which were UP 3% or more included PLTR XPEV

JD BIDU TPR CNX APA RUN ENPH CSIQ FSLR

CCL NIO LULU GE X AAL MGNI DASH AMD

SNOW DOCU NKE BA NFLX SNAP RH....

AH Futures UP

AH Asian Markets UP

AH Oil & Gold UP

About market, TAPE closed near high of the day and confirmed this reversal. Internals were positive. Today's green close gave much needed boost to die hard bulls who have suffered for last 2 years in a very difficult COVID-19 related environment of investing. Hopefully, this is a start of major run UP above resistance on the chart.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .01% to .28%...NICE !!!

 Indices closed UP.

S&P 500 @ 3821.62, high 3838.24, low 3795.62

RSI @ 40.01

CMF @ -0.019

Internals were :

UP volume led by 1.50 to 1 in NYSE & .88 to 1 in Nasdaq

Advancing stocks led by 1.12 to 1 in NYSE & 1.07 to 1 in Nasdaq

Net new lows were leading by 180 in NYSE & 381 in Nasdaq

VIX Down 4.19% @ 21.48

Oil @ $76.19

Gold @ $1825.40

Canadian $ @ .6376

Portfolio ARKK LSPD PLTR MGM SOL

Stocks which were UP 1% or more included

XPEV UAL SHOP MOS AG GE TECK

SQ X WYNN PAAS CNQ SLB CVX

SCHW IBM SNOW GOLD PENN 

NEM AEM ZI CIEN CRWD MRNA

BA META SPLK BROS RH....

AH futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE finally closed in green barely. Internals were mixed. Selling exhaustion was obvious. TSLA keeps going down as does AAPL. Since we are deeply oversold with RSI hitting digit 30's an oversold bounce is in order.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .49% to 1.49%...

 Indices closed down.

S&P 500 @ 3817.66, low 3800.04, high 3854.86

RSI @ 39.59

CMF @ -0.022

Internals were :

Down volume led by 2.68 to 1 in NYSE & 3.62 to 1 in Nasdaq

Declining stocks led by 2.80 to 1 in NYSE & 2.63 to 1 in Nasdaq

Net new lows were leading by 199 in NYSE & 454 in Nasdaq

VIX Down .88% @ 22.42

Oil @ $75.47

Gold @ $1787.70

Canadian $ @ .6357

Portfolio ARKK LSPD PLTR MGM SOL

Stocks which closed green included

JD JKS FSLR ENPH TJX GE CRM

CNQ CIEN CNX UPS BA BABA

SLB ORCL....

AH Futures UP

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE was in selling mode again for 4th day in a row. Selling looks exhausted and we are deeply oversold. Internals were negative. Too much bearish talk on CNBC just going with negative flow, ignore the noise and stay in the market with conviction & patience, this soon shall pass. It may be a turnaround Tuesday.

BLOG does NOT give buy or sell.

Saleem

US stock market reversal ?

 US stock market is in deep trouble.

Fed has given another " double dose of pain "

US stock market is below support in S&P 500 & Nasdaq

Most traders have lost hope for any relief

BUT like everything else in life, there is a ray of hope....

DOW is above 50 & 200 DMA

DOW has made a Golden Cross...a very bullish formation

TAN / Solar ETF is also above 50 & 200 DMA

XLE is also above 200 DMA but below 50 DMA

Can we get this Comatose market into life on Monday with the above positivity, very good chance of that.....

Worst performing sector is XLF much maligned Financial ETF@ 38.87 RSI....GS just announced layoff of thousands...just what Fed was hoping for....

2nd worst ETF is Russell 2000 with an RSI of 39.96

Based on RSI of 46.81 SOX is the-best performing ETF in my universe...

Based on all my rehash of numbers.....stay the course....we are going to get benefit of our CONVICTION / PATIENCE / DUE DILIGENCE

Big gains in US stock market is made when SENTIMENT is this NEGATIVE.....

PESSIMISM is rampant which IS a sure sign of REVERSAL coming soon on Wall & Broad St

Good luck with your own thesis and comfort level.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .85% to 1.11%....

 Indices closed down again on continued bearish sentiment coming from Fed " new & improved policy statement ".Internals were negative. Few stocks bucked selling by closing green.

S&P 500 @ 3852.36, low 3827.91, high 3890.91

RSI @ 42.01

CMF @ 0.011

Internals were :

Down volume led by 3.61 to 1 in NYSE & 2.26 to 1 in Nasdaq

Declining stocks led by 2.47 to 1 in NYSE & 1.66 to 1 in Nasdaq

Net new lows were leading by 197 in NYSE & 391 in Nasdaq

VIX Down .92% @ 22.62

Oil @ $74.29

Gold @ $1800.20

Canadian $ @ .6305

Stocks which closed green Included ARKK SOL

XPEV JKS AMAT AG PAAS GOLD AEM

NEM TECK X FCX CLF X WYNN 

MGNI SCHW AI EAT TER BA

BYND META YELP BABA....

Here is my portfolio weighting ;

ARKK       59.01%

MGM        20.47%

LSPD        8.32%

PLTR        7.20%

SOL          5.00%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed down 2.25% to 3.23%.....

 Indices closed down.

S&P 500 @ 3895.75, low 3879.45, high 3958.37

RSI @ 45.23

CMF @ 0.069

Internals were :

Down volume led by 6.56 to 1 in NYSE & 1.92 to 1 in Nasdaq

Declining stocks led by 4.36 to 1 in NYSE & 2.81 to 1 in Nasdaq

Net new lows were leading by 127 in NYSE & 291 in Nasdaq

VIX UP 7.99% @ 22.83

Oil @ $76.11

Gold @ $1794.40

Canadian $ @ .6348

Portfolio ARKK LSPD PLTR MGM SOL

Stocks which closed green included

JKS CNX TOL KBH DHI PHM

TSLA RH.....

AH Futures Mixed

AH Asian Markets Down

AH Oil & Gold Down

About market, TAPE was under severe selling pressure engineered by Fed's hawkish statement & policies. Economic data in US was weaker than expected but had no impact on selling. According to a famous chartist we have 2% more to go down in S&P 500 FWIW.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .42% to .76%....

 Indices closed down.

S&P 500 @ 3995.32, low 3965.65, high 4053.76

RSI @ 54.06

CMF @ 0.068

Internals were :

Down volume led by 1.82 to 1 in NYSE & 1,22 to 1 in Nasdaq

Declining stocks led by 1.39 to 1 in NYSE & 1.42 to 1 in Nasdaq

Net new lows were leading by 62 in NYSE & 147 in Nasdaq

VIX Down 6.25% @ 21.14

Oil @ $77.28

Gold @ $1818.70

Canadian $ @ .6430

Portfolio ARKK LSPD PLTR MGM SOL

Stocks which closed green included LSPD

DAL JD PDD JKS CSIQ FSLR SPWR

ENPH SEDG RUN LULU SNAP 

TECK COIN M MSTR DASH PFE

LYFT GOOS DOCU ZI ESTC UBER

DDOG MRNA TWLO META ORCL....

AH Futures Mixed

AH Asian Markets Down

AH Oil & Gold Down

About market, TAPE was under pressure as Fed policy statement was not " bull friendly " target for interest rates has been lifted higher to 5%, Interest rates to remain high for quite some time said Fed. Market closed much better than my expectations based on " more pain policy by Fed "

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .30% to 1.01%...NICE !!!!

 Indices closed UP.

S&P 500 @ 4019.65, high 4100.96, low 3993.03

RSI @ 56.56

CMF @ 0.088

Internals were :

UP volume led by 1.84 to 1 in NYSE & 2.00 to 1 in Nasdaq

Advancing stocks led by 2.83 to 1 in NYSE & 1.49 to 1 in Nasdaq

Net new highs were leading by 21 in NYSE & lows by 124 in Nasdaq

VIX Down 9.80% @ 22.55

Oil @ $75.39

Gold @ $1825.50

Canadian $ @ .6463

Portfolio ARKK LSPD PLTR MGM SOL

Stocks which were UP 2% or more included PLTR SOL

PDD JKS RUN FSLR SPWR SEDG SQ QRVO CNQ

CVX SLB LAC MSTR BIDU BABA PINS GOLD AEM

DOCU ZI MTCH ESTC NVAX MRNA EAT ELF NVDA

TWLO META LRCX AMZN GOOG RH.....

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE tried to celebrate lower than expected CPI report BUT rally was derailed completely by those who were caught on the wrong side of trade BUT it was managed skillfully by friends on the right trading desk, once favor was completed, TAPE was allowed to go in the direction It wanted to go, we closed higher. FED decision will be as expected 50 basis and a change to softer pain.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 1.26% to 1.58%...NICE !!!

 Indices closed UP.

S&P 500 @ 3990.56, High 3990.71, low 3935.30

RSI @ 54.21

CMF @ 0.065

Internals were :

UP volume led by 3.31 to 1 in NYSE & 2.63 to 1 in Nasdaq

Advancing stocks led by 1.67 to 1 in NYSE & 1.43 to 1 in Nasdaq

Net new lows were leading by 69 in NYSE & 207 in Nasdaq

VIX UP 9.51% @ 25.00

Oil @ $73.17

Gold @ $1792.30

Canadian $ @ .6343

Portfolio ARKK LSPD PLTR MGM SOL

Stocks which were UP 1% or more ARKK LSPD PLTR MGM

DAL UAL AAL JBLUMRVL APA OXY SLB LNG RUN 

AFRM MGA HOOD CCJ SQ COIN WYNN LVS QCOM

QRVO SWKS DASH AMD NVDA DKNG PENN SBOW

MSFT LYFT ZI ZM CRWD ESTC DDOG UPS BA TWLO

LRCX BROS MA V MS AAPL NKE CMG....

AH Futures Down

AH Asian Markets UP

AH Oil & Gold UP

About market, TAPE surprised everyone by closing strongly @ high of the day. Internals were positive. Most sectors participated in this rally. Tomorrow @ 830 AM, It Is all about CPI, based on today's strong close and VIX being UP 9.51% It can go either way. Hopefully we can close higher back to back to confirm year end rally.

BLOG does NOT give buy or sell.

Saleem

US Stock market fighting the Fed......

 US stock market has only one known obstacle....It IS FED policy

NOISE is very loud for Wednesday's Fed policy statement

PPI has thrown FEAR in traders trading strategy and they are selling in FEAR

Like in life, nothing IS predictable all the time, when you are most sure, opposite happens

WHO KNOWS CPI may be below consensus......

IF CPI is below....party on Wall & Broad will start like magic

That is why...NEVER be out of market,,..,, more so near end of hyper tightening cycle where we are now

Despite PPI and possibly CPI numbers, FED may very well decide to PAUSE with minor hikes...they know US economy is teetering on serious recession....

SO stay calm and focus on your own portfolio instead of listening to " chart laden pundits "

Every chartist or technical guru is so right @ bottom, BUT we make money in positioning for future which may start next week.....

Looking @ overall market @ Friday's close, there is room for some optimism...a silver lining...DOW is only 250 points away from making a " golden cross "

Of all the sector XLF is ready to make a " golden cross " which is only 42 points away

XLB materials sector is strongest and is above 50 & 200 DMA

DOW is above 50 & 200 DMA

TAN is above 50 & 200 DMA

XLF is above 50 & 200 DMA

SO after being down for most of last week, internals are giving hope.....

Based on RSI reading XLB & SOX are 2 strongest sector with 55.04 & 54.49

DOW is 3rd strongest with an RSI read of 51.01

SO sit back and relax, we may be @ the end of this painful bear market.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .70% to .90%...

 Indices closed @ low of the day on hotter than expected PPI, fear of inflation and prolonged higher interest rates caused selling in closing hour.

S&P 500 @ 3934.38, low 3933.04, high 3977.02

RSI @ 49.28

CMF @ 0.063

Internals were :

Down volume led by 1.89 to 1 in NYSE & 1.54 to 1 in Nasdaq

Declining stocks led by 2.19 to 1 in NYSE & 1.73 to 1 in Nasdaq

Net new lows were leading by 36 in NYSE & 177 in Nasdaq

VIX UP 2.42% @ 22.83

Oil @ $71.02

Gold @ $1810.70

Canadian $ @ .6391

Stocks which closed green included DAL UAL JKS

SQ CRM ROKU BMBL MSTR DASH PINS

SNOW CSIQ LYFT DOCU ZI CRWD BA

NTAP DDOG META TSLA SPLK EXPE

NFLX RH MS....

Here is my portfolio weighting :

ARKK  59.46%

MGM  20.18%

LSPD   8.28%

PLTR  7.18%

SOL    4.90%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .55% to 1.13%...NICE!!!

 Indices closed UP.

S&P 500 @ 3963.51, high 3974.19, low 3935.83

RSI @ 51.97

CMF @ 0.172

Internals were :

UP volume led by 1.75 to 1 in NYSE & 1.73 to 1 in Nasdaq

Advancing stocks led by 1.43 to 1 in NYSE & 1.38 to 1 in Nasdaq

Net new lows were leading by 39 in NYSE & 142 in Nasdaq

VIX Down 1.72% @ 22.29

Oil @ $71.46

Gold @ $1801.50

Canadian $ @ .6420

Portfolio ARKK LSPD PLTR MGM SOL

Stocks which were UP 2% or more included ARKK SOL

XPEV JD PDD MRVL AMAT NIO HOOD MU TECK

SQ COIN TRIP QCOM QRVO MGNI FCX CLF PFE

MSTR BIDU DKNG SNOW LYFT NXPI GOOS 

DOCU CIEN MTCH ZM ESTC DDOG LITE

EAT MRNA TER NKE BYND LRCX AMZN

SPLK BABA EXPE LVS SWKS....

AH Futures UP

AH Asian Markets UP

AH Oil & Gold UP

About market, TAPE closed green near high of the day after being oversold on Fed Interest rates direction. Finally Nasdaq was the-best performer after being beaten down for days. Most sectors participated in this rally, looking for a confirmation with a positive close on Friday.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed...

 Indices closed mixed.

S&P 500 @ 3933.92, low 3922.68, high 3957.57

RSI @ 49.36

CMF @ 0.103

Internals were :

Down volume led by 1.55 to 1 in NYSE & 1.59 to 1 in Nasdaq

Declining stocks led by 1.04 to 1 in NYSE & 1.31 to 1 in Nasdaq

Net new lows were leading by 99 in NYSE & 259 in Nasdaq

VIX UP 2.30% @ 22.68

Oil @ $72.01

Gold @ $1798.00

Canadian $ @ .6357

Portfolio ARKK LSPD PLTR MGM SOL

Stocks which were UP 1% or more included PLTR

AMAT PYPL AG M BMBL PAAS LAC MGNI

DASH PFE MRNA NVAX GOLD AEM NEM

ZI TOL KBH DHI PHM ENPH SEDG TER

ASML BYND LNG RH ULTA....

AH Futures Down

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE closed mixed on rate jitters. Canadian Central Bank increased by 50 basis but is calling for pause to see how economy cools down, Fed next Wednesday could be following the same script. Internals were negative Housing stocks moved UP sharply on TOL good earnings.

BLOG does NOT give buy or sell.

Saleem

Indices closed down 1.03% 2.00%....

 Indices closed down.

S&P 500 @ 3941.26, low 3918.39, high 4001.51

RSI @ 49.98

CMF @ 0.127

Internals were :

Down volume led by 2.39 to 1 in NYSE & 4.05 to 1 in Nasdaq

Declining stocks led by 2.61 to 1 in NYSE & 2.34 to 1 in Nasdaq

Net new lows were leading by 110 in NYSE & 245 in Nasdaq

VIX 6.84% @ 22.17

Oil @ $74.25

Gold @ $1782.40

Canadian $ @ .6344

Portfolio ARKK LSPD PLTR MGM SOL

Stocks which were UP 1% or more included 

XPEV JD UAL NIO TECK 

X AAL CLF EAT ELF 

BYND BABA.....

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE was under selling pressure again on nervousness about strong US data and its impact on direction of Interest rates. Fed will announce its decision @ 2 PM tomorrow about hike & its current take on its policies, I expect it to be 50 basis increase and then gradual increase as needed, this should give a boost to bullish sentiment after 2 day slump.

BLOG does NOT give buy or sell.

Saleem

Indices closed down 1.40% to 1.93%.....

 Indices closed down.

S&P 500 @ 3998.84, low 3984.49, high 4052.45

RSI @ 55.00

CMF @ 0.187

Internals were :

Down Volume led by 12.16 to 1 in NYSE & 2.61 to 1 in Nasdaq

Declining stocks led by 5.28 to 1 in NYSE & 2.92 to 1 in Nasdaq

Net new lows were leading by 13 in NYSE & 60 in Nasdaq

VIX UP 8.87% @ 20.75

Oil @ $76.93

Gold @ $1781.30

Canadian $ @ .6424

Portfolio ARKK LSPD PLTR MGM SOL 

Stocks which were UP 1% or more included MGM SOL

UAL AAL PDD BISU NVAX SEDG EAT BA OLED...

AH Futures UP

AH Asian Markets Down

AH Oil & Gold UP

About market, TAPE was in sell mode thanks to strong US$ as recent economic data in USA accounts for stronger than expected numbers reigniting fears about higher Interest rates scenario. Internals were weak. Nasdaq was the weakest. Turnaround Tuesday is here for bulls.

BLOG does NOT give buy or sell.

Saleem

US stock market wants to go higher.....

 US stock market has been confounding market bears and hot shot technicians.

Even hot hot jobs report could not put any dent in any averages....

Bulls Bears ratio is also confused with bulls @ 38.4% and bears @ 31.5%...who could have predicted a total stalemate when DOW is breaking out

Bears are firmly restating that new lows are on track

Technicians pointing their arrows south....

This only means that there is all the buying left in this TAPE....

By the time Bears & Technicians are convinced no more new lows, we should be making new highs in many Indices.

RSI reading are showing many indices are in 60 area with XLB & DOW @ 68.97 & 66.00 these are number 1 & 2 best relative performance

Worst one from RSI point of view is XLE @ 51.43....lowest ranked

This is a market where you ignore the noise and stay in the market with your best ideas

This Stock Market is definitely looking six months ahead and see lot of good things in US economy thus a very strong stock market.

Market has a mind of its own, stable when noise is very loud and unstable when everyone is calm.

Biggest lead signal is " never fight the TAPE "

Fed meeting & decision is all baked in, looking ahead is the name of the game....

Good luck with your own analysis and comfort level.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed despite hotter than expected jobs report, this showed US markets inner conviction that " all IS well "

S&P 500 @ 4071.70, low 4026.63, high 4080.48

RSI @ 61.46

CMF @ 0.237

Internals were :

UP volume led by 1.31 to 1 in NYSE & 1.39 to 1 in Nasdaq

Advancing stocks led by 1.15 to 1 in NYSE & 1.33 to 1 in Nasdaq

Net new highs were leading by 34 in NYSE & lows by 32 in Nasdaq

VIX Down 3.93% @ 19.06

Oil @ $79.98

Gold @ $1809.60

Canadian $ @ .6548

Stocks which were UP 3% or more included SOL

XPEV JKS RUN SPWR CSIQ ENPH SEDG

JD PDD RIOT COIN NIO MGNI CLF MSTR 

BIDU BABA BA LTHM.....

Here is my portfolio weighting :

ARKK         60.15%

MGM          18.91%

LSPD          8.79%

PLTR          7.10%

SOL           5.05%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 4076.57, low 4050.87, high 4100.50

RSI @ 50.87

CMF @ 0.195

Internals were :

UP volume led by .88 to 1 in NYSE & 1.53 to 1 in Nasdaq

Advancing stocks led by 1.49 to 1 in NYSE & 1.17 to 1 in Nasdaq

Net new highs were leading by 82 in NYSE & 19 in Nasdaq

VIX Down 3.60% @ 19.84

Oil @ $81.22

Gold @ $1815.20

Canadian $ @ .6568

Portfolio ARKK LSPD PLTR MGM SOL

Stocks which were UP 1% or more included ARKK LSPD PLTR MGM

PDD SHOP SNAP AFRM AG TECK SQ RCL PAAS MGNI CLF

PFE MRNA NVAX DKNG SNOW GOLD PANW NEM AEM 

ZI ZM CRWD NVAX NKE NVDA META SPLK NFLX NTNX 

BROS MA ORCL ULTA KBH....

AH Futures Down

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE closed mixed while Nasdaq closed UP. Internals were mostly positive. Earnings are mixed with guidance being lower than expected. Tomorrow it is all about Jobs report, IF in line more or less rally continues, IF lower than expected big sigh of relief from all participants which confirms Fed moderate policy and rally goes on full steam ahead.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 2.18% to 4.41%...NICE !!!

 Indices closed UP.

S&P 500 @ 4080.11, high 4080.11, low 3938.58

RSI @ 63.46

CMF @ 0.126

Internals were :

UP volume led by 8.81 to 1 in NYSE & 2.78 to 1 in Nasdaq

Advancing stocks led by 5.40 to 1 in NYSE & 3.18 to 1 in Nasdaq

Net new highs were leading by 5 in NYSE & lows by 87 in Nasdaq

VIX Down 5.98% @ 20.58

Oil @ $80.55

Gold @ $1759.90

Canadian $ @ .6457

Portfolio  ARKK LSPD PLTR MGM SOL

Stocks which were UP 6% or more included ARKK LSPD SOL

XPEV NIO TSLA JD BABA JKS FSLR CSIQ SHOP RIOT

MRVL AMAT AFRM SQ COIN ROKU BMBL QCOM 

PAAS LAC FCX MSTR DASH BIDU DKNG MSFT 

NXPI ZI ZM MTCH BYND TWLO META GOOG NFLX

BROS LRCX....

AH Futures Mixed

AH Asian Markets UP

AH Oil & Gold UP

About market, TAPE was down @ open on nervousness about Fed Chief Powell speech and his focus, BUT there was a surprise waiting for Christmas " no more pain " was the jest, increase in Fed funds rates will be moderate, what a change in focus, stocks closed @ absolute high of the day, giving all long traders & Investors loot of the day, a day which saw gains of UPTO 40%+++ YES It IS a change indirection which TAPE was foretelling, Bull Market has arrived.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 3957.63, low 3937.65, high 3978.77

RSI @ 55.13

CMF @ 0.020

Internals were :

UP volume led by 2.37 to 1 in NYSE & 1.76 to 1 in Nasdaq

Advancing stocks led by 1.35 to 1 in NYSE & 1.01 to 1 in Nasdaq

Net new lows were leading by 30 in NYSE & 104 in Nasdaq

VIX Down 1.44% @ 21.89

Oil @ $78.20

Gold @ $1763.70

Canadian $ @ .6359

In my portfolio :

Sold XPEV @ $7.33

Added 20% SOL @ $4.47

Portfolio ARKK LSPD PLTR MGM SOL

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

JD PDD BIDU NCLH RCL CCL HST APA SLB NIO AG

PAAS TECK WYNN LVS FCX MSTR GOLD NEM DAL

UPS BA BYND AEM BABA ....

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE was flattish by close, a victory for bulls, Internals were mostly positive. Fed Chief is giving a talk and will be super hawkish, impact may last for 2 hours when no more sellers, market may close positive.

BLOG does NOT give buy or sell.

Saleem

Indices closed down 1.45% to 1.58%...

 Indices closed down.

S&P 500 @ 3963.94, low 3955.77, high 4012.27

RSI @ 55.74

CMF @ -0.005

Internals were :

Down volume led by 6.19to 1 in NYSE & 1.58 to 1 in Nasdaq

Declining stocks led by 3.50 to 1 in NYSE & 2.66 to 1 in Nasdaq

Net new lows were leading by 12 in NYSE & 71 in Nasdaq

VIX UP 8.34% @ 22.21

Oil @ $77.94

Gold @ $1740.30

Canadian $ @ .6565

Portfolio ARKK LSPD PLTR MGM SOL XPEV

Stocks which closed green included

PDD SHOP LULU BMBL

WYNN LVS BIDU AMZN

ULTA CMG.....

AH Futures UP

AH Asian Markets Down

AH Oil Down

AH Gold UP

About market, TAPE was under selling pressure due to China's crackdown on protestors for zero tolerance of COVID-19, expect minor adjustment to this rule to pacify activists. Fed hawkish speech continued which gave US$ a lift. Indices closed near low of the day. As were overbought, this was a possibility. Expect rally to continue.

BLOG does NOT give buy or sell.

Saleem

US stock market to rally despite Fed Hawkish talk....

 US stock market has paid its dues of minimum of 11 months of base building in S&P 500 and maximum 12 months in Nasdaq.

Technology stocks like DOCU has been slumping for 15 months

PLTR has been slumping for 22 months

CHWY has been slumping for 24 months

NVTA has been slumping for 25 months

I am sure you get the picture of how long and painful this slump has been

COVID-19, WAR, Hyper inflation, highest Interest rates in decade has inflicted unbearable pain for many, PAIN was one of the objective of Fed......

Since we have gone through many economic challenges as listed above, US stock market will not slump with any Fed hawkish speech or policy statement because its all baked in.

When I look @ my universe of sectors / index 7 out of 10 are behaving technically strong, all above 50 & 200 DMA, first time in a long time....

When in doubt always look for how internals are behaving as NOISE is loudest near lows or breakout

We are on the verge of a major breakout in many many sectors which I am going to highlight below.

DOW is the strongest near breakout

RUSSELL 2000 , TAN, XLE, XLF, XLB, JETS are all above 50 & 200 DMA.

When I look @ RSI following are displaying strength :

DOW             71.21

XLB              69.45

XLF              67.32

TAN             64.87

JETS           63.90

Nasdaq       55.04

As you can see Nasdaq is the weakest of all even after 2 years of slumping action, lot of room to outperform in short order.

Please look @ your portfolio and see where they stand in terms of strength or weakness.

I have jacked up my technology exposure big time as I am expecting it to play catch up.

Good luck with your own analysis and comfort level.

Here is my portfolio weighting :

ARKK          60.31%

MGM           19.37%

LSPD            8.47%

PLTR            7.17%

SOL              3.98%

XPEV             .70%

BLOG does NOT give buy or sell.

Saleem

Next BLOG on Sunday by 6 PM......

 Next BLOG on Sunday by 6 PM.....

Enjoy your Thanksgiving holiday's....

Saleem

Indices closed UP .28% to .99%...NICE!!!

 Indices closed UP.

S&P 500 @ 4027.26, high 4033.78, low 3998.66

RSI @ 62.11

CMF @ 0.026

Internals were :

UP volume led by 1.96 to 1 in NYSE & 2.04 to 1 in Nasdaq

Advancing stocks led by 1.97 to 1 in NYSE & 1.61 to 1 in Nasdaq

Net new highs were leasing by 32 in NYSE & lows by 56 in Nasdaq

VIX Down 4.42% @ 20.35

Oil @ $77.94

Gold @ $1745.60

Canadian $ @ .6581

Portfolio ARKK LSPD PLTR MGM SOL XPEV

Stocks which were UP 2% or more included ARKK LSPD PLTR XPEV

JKS SPWR TPR SHOP RIOT SNAP NIO AFRM HOOD TECK CRM 

COIN ROKU BMBL AAL MSTR DASH BIDU PINS DKNG SNOW

LYFT DOCU ZI TOL MTCH CRWD ESTC UBER DDOG DHI

PHM NVDA TWLO TSLA BABA RH BROS OSTK....

AH Futures UP

AH Asian Markets UP

AH Oil  Down

AH Gold UP

About market, TAPE was strong & closed @ high of the day, gains got momentum on Fed meeting minutes which noted rise in Fed funds rate can be moderated going forward. Internals were positive. TSLA got a bid along with Crypto related asset. US markets are closed but Toronto & world markets are open.

HAPPY Thanksgiving!

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 1.18% to 1.36%...NICE !!!

 Indices closed UP.

S&P 500 @ 4003.58, high 4005.88, low 3956.88

RSI @ 60.66

CMF @ -0.038

Internals were :

UP Volume led by 2.98 to 1 in NYSE & 2.05 to 1 in Nasdaq

Advancing stocks led by 3.40 to 1 in NYSE & 1.56 to 1 in Nasdaq

Net new lows were leading by 8 in NYSE & 128 in Nasdaq

VIX Down 4.79% @ 21.29

Oil @ $80.95

Gold @ $1739.90

Canadian $ @ .6595

In my portfolio Added 10% ARKK @ $34.76

Portfolio ARKK LSPD PLTR MGM SOL XPEV

Stocks which were UP 3% or more included TPR MRVL

CNX APA OXY LNG NTR MOS AG CCJ TECK CRM 

COIN M X TSM PAAS MSTR AMD GOLD INTC 

ENPH EAT PHM NVDA AEM EXPE JWN ....

AH Futures Mixed

AH Asian Markets UP

AH Oil & Gold UP

About market, TAPE closed @ high of the day dispelling doom & gloom by technicians with their charts pointing down. Tomorrow is fed's meeting minutes @ 2 PM which should bring out all skeptics in drove. Market will ignore gloom & doom and will march forward as there is too much momentum building in this TAPE.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .13% to 1.09%.....

 Indices closed down.

S&P 500 @ 3944.94, low3933.34, high 3962.00

RSI @ 57.21

CMF @ -0.027

Internals were :

Down volume led by 1.46 to 1 in NYSE & 2.54 to 1 in Nasdaq

Declining stocks led by 1.27 to 1 in NYSE & 1.60 to 1 in Nasdaq

Net new lows were leading by 28 in NYSE & 179 in Nasdaq

VIX Down 3.29% @ 22.36

Oil @ $79.70

Gold @ $1739.60

Canadian $ @ .6514

In my portfolio Sold SOFI @ $4.85

Portfolio ARKK LSPD PLTR MGM SOL XPEV

Stocks which closed green included RUN CSIQ

AMAT TJX M LULU AG GE X RCL LAC

SCHW MSFT PANW ZI MTCH UPS

MCD FFIV BROS ORCL OSTK

ULTA....

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE closed lower as US $ gained ground. Oil & Gold took an early tumble while Crypto went below 16K, all in all a very negative backdrop. As this is a Thanksgiving week with market closed on Thursday & half day on Friday, many players remain busy with their holiday schedule.

BLOG does NOT give buy or sell.

Saleem

Message of US stock market....

 US stock market is confusing many " news driven " traders....

News has been terrible in past few days....

FTX collapse......and market gave a big yawn

Fed Bullard trumpeting 5% to 7% interest rates....and US stock market said...IGNORE his predictions...YES market closed higher.....

SO message of the market IS

Trade on fundamentals of each stock....

Stock market is a discounting mechanism....may have discounted more than what traders are ready for...

US stock market has been in a downward spiral for last 23 months based on averages.....for Technology stocks....it is more like 30 months since it peaked....

In the end TAPE matters NOT NEWS of the hour

SO what is behaving better than in this " news driven market "

In my universe 3 sectors are looking very good based on moving averages

IF you can believe it....DOW is a runaway success...above both 50 & 200 DMA

TAN / Solar is also above 50 & 200 DMA...hated by many, but keeps outperforming

XLE...Yes Energy stocks are also above 50 & 200 DMA....many predicting It Is going lower

Interestingly in my universe of 8 sectors all are above 50 DMA....a rarity ....

Nasdaq & IWM / Russell 2000 are weakest as of Friday's close....for those who want to know Nasdaq RSI is 54.05 IWM Is 55.59

As you can see with my analysis most sectors are behaving much better, thus It Is prudent to buy stocks in each sector who are the-best of breed...

Like it or NOT....market wants to go higher irrespective of Fed's aggressive policy, may be just may be, we may be looking @ last of the aggressive rate hikes by worlds Central Banks...my theory of course...

Good luck with your own analysis and your comfort level, Fed may say Pain BUT it could be the start of pleasure for Investors / traders .....

BLOG does NOT give buy or sell.

Saleem