Indices closed down .41% to .67%.....

 Indices closed down.

S&P 500 @ 4132.15, low 4104.88, high 416834

RSI @ 52.04

CMF @ 0.124

Internals were :

Down volume led by 2.74 to 1 in NYSE & 1.65 to 1 in Nasdaq

Declining stocks led by 1.82 to 1 in NYSE & 1.41 to 1 in Nasdaq

Net new lows were leading by 465 in NYSE & 47 in Nasdaq

VIX UP 1.83% @ 26.19

Oil @ $114.67

Gold @ $1848.40

Canadian $ @ .7355

Portfolio ARKK BTCC MGM NCLH PLTR RIOT SOFI UAL

Stocks which were UP @ close included BTCC MGM

XPEV NIO NTR MOS MGA COIN WYNN LVS 

QCOM MSTR CSIQ JKS SHOP TD BMO PDD

JD ELF NKE AMZN BABA GOOG NFLX 

MU.....

AH Futures UP

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE all over UP in pre market, down after open then UP again then closing lower, a sign of mini overbought condition, interest yield were slightly higher and some hawkish comments of above neutral interest rates from a voting Fed member. We should resume uptrend after new money allocation for equities in June.

BLOG does NOT give buy or sell.

Saleem

Buy in May and stay put till July.....

 Buy in May.....

YES still 2 day's left to buy in May...

A famous technical analyst in Canada whom I follow is predicting this uptrend has legs and will continue whole June...my disclaimer...usual UPS & Downs not withstanding...YES he has been wrong many times like most technical analysts

Overexposure near lows has been profitable for me ...most of the time I am a tad early which is fine.....

Markets in USA has been tough tough tough since January but extremely tough for Technology stocks for almost 1 straight year....

A prolonged weakness in any one sector has been repeated many times in the past even for Technology stocks.....

Last huge slump came right after Y2K mega rally, when this slump was over many Technology stocks lost 50% of its value and some filed for Bankruptcy.....

This time retreat has been much faster and more intense like pullbacks of over 70% more like norm..

Good news IS that we are NOW coming out of this slump....

Expect huge rallies due to strength of this comeback and " short covering "

SO..It IS wise to be " overweight technology stocks "

Reopen stocks will have much more sustained rally going into 3 year UP cycle...where prices will surprise most players...

Most world markets are UP today due to relaxation of COVID-19 rules by China, another huge May surprise...

Expect a very strong day on Tuesday in US stock market.....

Do NOT overthink...things are changing very fast....

Good luck with your own analysis and comfort level.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 1.76% to 3.33%...NICE !!!!

 Indices closed @ high of the day with a confident UP week. All Indices scored gains. Internals were mostly positive. DOW is looking strongest ready to take out 200 DMA.

S&P 500 @ 4158.24, high 4158.49, low 4077.43

RSI @ 53.72

CMF @ 0.173

Internals were :

UP volume led by 7.15 to 1 in NYSE & 4.08 to 1 in Nasdaq

Advancing stocks led by 6.49 to 1 in NYSE & 4.10 to 1 in Nasdaq

Net new lows were leading by 446 in NYSE & 61 in Nasdaq

VIX Down 6.47% @ 25.72

Oil @ $115.07

Gold @ $1857.30

Canadian $ @ .7256

Stocks which were UP 5% or more included

ARKK NCLH PLTR RIOT SOFI UAL

SNAP FSLR SPWR AFRM HOOD

PYPL BB SQ COIN ROKU MRVL AAL 

CCL DASH RUN SHOP CRWD ESTC

DDOG PDD NVAX SEDG BYND

TWLO TSLA SPLK JWN ULTA....

Here is my portfolio weighting :

ARKK        32.19%

UAL          22.06%

MGM        19.43%

PLTR          8.96%

NCLH        7.38% 

BTCC       7.10%

RIOT        1.47%

SOFI        1.41%

Next post on Monday by 6 PM, US market closed for Memorial Day but world markets and Toronto open.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 1.61% to 2.68%...NICE !!!!

 Indices closed UP.

S&P 500 @ 4057.84, high 4076.14, low 3984.60

RSI @ 47.67

CMF @ 0.084

Internals were :

UP volume led by 6.09 to 1 in NYSE & 4.82 to 1 in Nasdaq

Advancing stocks led by 5.16 to 1 in NYSE & 2.95 to 1 in Nasdaq

Net new lows were leading by 452 in NYSE & 134 in Nasdaq

VIX Down 3.07% @ 27.50

Oil @ $114.09

Gold @ $1847.60

Canadian $ @ .7207

Portfolio ARKK BTCC MGM NCLH PLTR RIOT SOFI UAL

Stocks which closed UP 3%+ included ARKK MGM NCLH PLTR RIOT UAL

SNAP AMAT XPEV AFRM LULU SQ LSPD COIN M BYD SAVE ROKU 

MRVL RCL TWTR WYNN AAL LAC CCL BIDU BABA LYFT PENN

DOCU SHOP DAL ZM CRWD ENPH BA NVDA TSLA SPLK LVS

RH OSTK ULTA MSTR.....

AH Futures Down

AH Asian Markets UP

AH Oil & Gold Down

About market, TAPE was strong and closed near high of the day, Internals were strong, most sectors participated. Earnings have been much better lately and have improved the confidence of most traders. Friday's positive close will be a huge boost to traders and Investors before Memorial Day long weekend.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .60% to 1.51%...NICE !!!!

 Indices closed UP.

S&P 500 @ 3978.73, high 3999.33, low 3926.03

RSI @ 42.14

CMF @ 0.089

Internals were :

UP volume led by 4.60 to 1in NYSE & 3.74 to 1 in Nasdaq

Advancing stocks led by 3.56 to 1 in NYSE & 2.23 to 1 in Nasdaq

Net new lows were leading by 451 in NYSE & 270 in Nasdaq

VIX Down 3.61% @ 28.37

Oil @ $110.33

Gold @ $1846.30

Canadian $ @ .7158

Portfolio ARKK BTCC MGM NCLH PLTR RIOT SOFI UAL

Stocks which closed UP 4% or more included ARKK PLTR SOFI

HST APA SNAP AFRM LSPD COIN M BYD JBLU TRIP ROKU

BMBL AAL MGNI AI DASH PINS DKNG PANW DOCU ZI

TOL ZM CRWD KBH ENPH BYND NVDA TSLA SPLK

NFLX JWN LNG RH OSTK.....

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE zig zagged about Fed minutes were released but took off and closed near high of the day. Most sectors participated in today's run. Internals were mostly positive. CMF positive for two day's in a row. NVDA earnings after hours missed guidance as expected, after initial dip Futures are ignoring a generally OK earnings report. 

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 3941.48, low 3875.13, high 3955.68

RSI @ 39.33

CMF @ 0.047

Internals were :

Down volume led by 1.75 to 1 in NYSE & 3.97 to 1 in Nasdaq

Declining stocks led by 1.27 to 1 in NYSE & 2.40 to 1 in Nasdaq

Net new lows were leading by 461 in NYSE & 495 in Nasdaq

VIX UP 3.41% @ 29.45

Oil @ $109.77

Gold @ $1865.40

Canadian $ @ .7155

Portfolio ARKK BTCC MGM NCLH PLTR RIOT SOFI UAL

Stocks which were UP 1% or more included 

CNX VUZI IBM PFE GOLD NEM

ZM MCD AEM CSIQ SU TECK.....

AH Futures UP

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE was under major selling from open thanks to SNAP which brought heavy selling in Nasdaq, by close only DOW mustered a green close. YES this market does not like negative surprise even from a smaller company like SNAP and reflects it into all related companies. This market is testing nerves of best traders and investors but stay the course as treasury yields are showing moderation.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 1.59% to 1.98%...NICE !!!!

 Indices closed UP.

S&P 500 @ 3973.75, high 3981.88, low 3907.04

RSI @ 40.93

CMF @ -0.030

Internals were :

UP volume led by 3.32 to 1 in NYSE & 1.67 to 1 in Nasdaq

Advancing stocks led by 2.43 to 1 in NYSE & 1.43 to 1 in Nasdaq

Net new lows were leading by 458 in NYSE & 184 in Nasdaq

VIX Down 3.23% @ 28.48

Oil @ $111.35

Gold @ $1847.80

Canadian $ @ .7160

Portfolio ARKK BTCC MGM NCLH PLTR RIOT SOFI UAL

Stocks which closed UP 1% or more included UAL

APA AMAT NTR MOS MGA TJX CCJ TECK

LSPD MX SAVE AAPL MRVL CNQ AAL

LAC SCHW FCX CLF AMD IBM MSFT 

PANW LYFT DOCU SHOP DAL CVX BA

NVDA MCD FB LRCX GOOG OXY SLB

BROS MA V MS....

AH Futures Down

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, TAPE was strong until close, most traders felt comfortable as to direction of this market. After close all that changed with SNAP gave a shocking update in their guidance, guiding lower and other negative updates in their business which is a bad reflection to their peers FB, TWTR, PINS & GOOG.

BLOG does NOT give buy or sell.

Saleem

US stock market to stage oversold bounce....

 US stock market has been deeply deeply oversold since reaching its peak in January 2022 when S&P 500 was @ 4818.62, currently @ 3901.36, a relentless selling for almost 5 months where we lost almost 1000 S&P points or 20% intraday .....

Not all issues are resolved, but many potential impact are known when Fed completes its inflation control measures.

YES..it is painful for many to go through daily whipsaw in trading.....

Not all stocks have seen its low yet....

Inflation & higher interest rates going to take a toll on many sectors yet.....

BUT a cautious and opportunistic buying may be in order.

IF you do a well diversified buying / trading strategy, chances are high of getting ahead.

It IS better to start buying when sentiment is most negative....

Best buying opportunities are when " fear is rampant "

We are overdue for a sustained two week rally with usual volatility....

It is better to start when prices are @ least 50% lower which IS the case right now..

This environment may be testing everybody's patience over & over BUT conviction is the key going forward.

In this long 5 months slump I did very little change in my portfolio and will continue to maintain most of my holdings, sometimes biggest gain in a well diversified portfolio comes when you let it breathe through many UPS and DOWNS...

Please focus on stocks to buy and understand its business plans for current environment which IS challenging 

It IS almost like buying at another potential low point in averages, which is very rare...looks like an equivalent to buying in March 2020 when S&P 500 reached a low of 2191.86 then it went UP to 4800++in 22 months....

History is always a good guide to winning strategies.....

Good luck with your own analysis of market and your own comfort level.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed in an UP / DOWN session. S&P 500 did reached 20% decline intraday but closed positive on the day along with DOW. Nasdaq closed slightly down.

S&P 500 @ 3901.36, high 3943.42, low 3810.32

RSI @ 35.47

CMF @ -0.015

Internals were :

Down volume led by 1.08 to 1 in NYSE & 1.45 to 1 in Nasdaq

Declining stocks led by 1.16 to 1 in NYSE & 1.24 to 1 in Nasdaq

Net new lows were leading by 454 in NYSE & 472 in Nasdaq

VIX UP 0.27% @ 29.43

Oil @ $110.28

Gold @ $1842.10

Canadian $ @ .7160

Stocks which were UP 1% or more included MGM SOL

APA LULU CCJ CRM LSPD TWTR QRVO AI PFE

CSIQ ENPH SEDGE PANW NXPI PENN NEM 

CRWD UPS DHI PHM NKE MCD TWLO FB

SPLK NFLX JKS MA ORCL SWKS CMG....

Here is my portfolio weighting :

ARKK      31.93%

UAL         21.08%

MGM       20.33%

PLTR         8.69%

BTCC        7.64%

NCLH       7.41%

RIOT        1.47%

SOFI        1.45%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .26% to .75%.....

 Indices closed down.

S&P 500 @ 3900.19, low 3876.58, high 3945.96

RSI @ 35.43

CMF @ -0.078

Internals were :

UP volume led by 1.16 to 1 in NYSE & 1.53 to 1 in Nasdaq

Advancing stocks led by 1.15 to 1 in NYSE & 1.31 to 1 in Nasdaq

Net new lows were leading by 460 in NYSE & 447 in Nasdaq

VIX Down 5.20% @ 29.35

Oil @ $109.89

Gold @ $1841.20

Canadian $ @ .7170

Portfolio ARKK BTCC MGM NCLH PLTR RIOT SOFI UAL

Stocks which closed UP 5% or more included ARKK SOFI

SPWR CSIQ ENPH SEDG NIO AFRM PYPL AG LSPD

ARKF BMBL PAAS LAC MGNI AI MSTR DASH

SNOW LYFT GOOS DOCU SHOP ZM ESTC

DDOG PDD JD NVAX AEM EXPE SQ RH...

AH Futures UP

AH Asian Markets UP

AH Oil & Gold Down

About market, TAPE saw another down day but most high growth stocks were not only green but were UP 5%+++ another sign that "all is not bad ". Most pundits are busy telling everyone how low can we go, some are predicting another 30% lower. We can worry about " opinions " or work hard in finding great stocks @ fire sale prices, its your choice. Markets go UP and markets go down but many stocks buck the trend.

BLOG does NOT give buy or sell.

Saleem

Indices closed down 3.57% to 4.73%....

 Indices closed down.

S&P 500 @ 3923.68, low 3911.91, high 4051.98

RSI @ 36.35

CMF @ -0.105

Internals were :

Down volume led by 15.30 to 1 in NYSE & 4.31 to 1 in Nasdaq

Declining stocks led by 5.09 to 1 in NYSE & 3.53 to 1 in Nasdaq

Net new lows were leading by 456 in NYSE & 331 in Nasdaq

VIX UP 18.62% @ 30.96

Oil @ $109.59

Gold @ $1815.90

Canadian $ @ .7158

Portfolio ARKK BTCC MGM NCLH PLTR RIOT SOFI UAL

Stocks which closed green included SOFI

TJX RUN CSIQ JKSNVAX FSR....

AH Futures Down

AH Asian Markets Down

AH Oil UP

AH Gold Down

About market, TAPE was under tremendous selling pressure thanks to TGT which gave biggest blow to profitability, margin and inventory management, there is a scare about entire retail sector despite great report from TJX. CSCO earnings are no help AH. Fear / negativity is @ optimum in the market now which may be a contrary indicator.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 1.34% to 2.76%....NICE !!!!

 Indices closed UP.

S&P 500 @ 4088.85, high 4090.72, low 4033.93

RSI @ 43.96

CMF @ -0.084

Internals were :

UP volume led by 6.38 to 1 in NYSE & 3.75 to 1 in Nasdaq

Advancing stocks led by 2.92 to 1 in NYSE & 3.18 to 1 in Nasdaq

Net new lows were leading by 460 in NYSE & 202 in Nasdaq

VIX Down 4.99% @ 26.10

Oil @ $112.40

Gold @ $1818.90

Canadian $ @ .7156

Portfolio ARKK BTCC MGM NCLH PLTR RIOT SOFI UAL

Stocks which were UP 5% or more included ARKK NCLH RIOT UAL

AMAT XPEV NIO AFRM TECK SQ COIN ARKF JBLU

SAVE BMBL MRVL QRVO AAL CCL MSTR RUN

AMD CSIQ DAL NVAX SEDG NVDA LRCX

BABA MU.....

AH Future Mixed

AH Asian Markets UP

AH Oil UP

AH Gold Down

About market, TAPE was strong once Fed chief had spoken which was much firmer in tone and focus to contain inflation. Indices closed @ high of the day which more than confirms recent turnaround as too many confident bears are roaming around CNBC and making no sense now.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 4008.01, low 3983.99, high 4046.46

RSI @ 38.06

CMF @ -0.094

Internals were :

Down volume led by 1.02 to 1 in NYSE & 1.37 to 1 in Nasdaq

Declining stocks led by .92 to 1 in NYSE & 1.35 to 1 in Nasdaq

Net new lows were leading by 456 in NYSE & 309 in Nasdaq

VIX Down 4.85% @ 27.47

Oil @ $114.20

Gold @ $1814.00

Canadian $ @ .7115

Portfolio ARKK BTCC MGM NCLH PLTR RIOT SOFI UAL

Stocks which were UP 2% or more included SOFI

NTR CCJ TECK SAVE CNQ CVX 

OXY SLB.....

AH Futures UP

AH Asian Markets UP

AH Oil & Gold UP

About market, TAPE rested today after major move UP by Friday. VIX closed down as market is stable now. Internals were slightly negative. Nasdaq saw renewed selling. Hopefully we build from here and see positive action in many many sectors. Stay diversified with conviction.

BLOG does NOT give buy or sell.

Saleem

US stock market on the mend....

 US stock market has finally found a bottom based on current issues.....

Inflation is not rising anymore

10 year rates are below 3% and has not breached its recent high of 3.15% ++

Ukraine war is in a stalemate

Corporate profit downward adjustments is happening

Wage inflation is tapering now as many corporations are rethinking hiring needs

Only area of concern is Gasoline prices which keeps climbing and affects every consumer in more than one way....

1 negative and so many positive development is bringing confidence back into US stock market

Technology saw the biggest turnaround in stock prices which is a great source of confidence as most traders and investors are always exposed.

I have a feeling that Technology will lead again much more than reopen stocks as gasoline prices / fuel prices giving a huge hit

Exposure needs to be increased in 70/30 format with technology in 70%

Most sectors corrected just about the same %...but moving UP will be much faster for key technology stocks.

Please do your own homework and see where is your comfort level.

It is never easy to make money in stock market where " noise takes over from facts "

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 1.47% to 3.82%...NICE!!!!

 Indices closed UP near high of the day with buyers very active. Internals were mostly positive. All sectors participated in today's strength.

S&P 500 @ 4023.89, high 4038.88, low 3863.90

RSI @ 38.81

CMF @ -0.082

Internals were :

UP volume led by 11.89 to 1 in NYSE & 8.17 to 1 in Nasdaq

Advancing stocks led by 3.73 to 1 in NYSE & 2.91 to 1 in Nasdaq

Net new lows were leading by 464 in NYSE & 463 in Nasdaq

VIX Down 9.13% @ 28.87

Oil @ $110.49

Gold @ $1808.20

Canadian $ @ .7068

Stocks which were UP 5% or more included 

ARKK BTCC NCLH PLTR RIOT SOFI

SNAP AFRM HOOD LULU SQ LSPD

COIN ROKU WYNN MSTR DASH 

PINS RUN AMD DKNG SNOW LYFT

DOCU SHOP DDOG ENPH BYND 

SPLK XPEV OXY JKS LVS.....

Here is my portfolio weighting :

ARKK       31.93%

MGM        20.80%

UAL         20.37%

PLTR         8.72%

NCLH       7.64%

BTCC       7.59%

RIOT       1.67%

SOFI      1.28%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed.....

 Indices closed mixed.

S&P 500 @ 3930.08, low 3858.87, high 3964.80

RSI @ 31.45

CMF @ -0.155

Internals were :

UP volume led by 1.30 to 1 in NYSE & 1.92 to 1 in Nasdaq

Advancing stocks led by .87 to 1 in NYSE & 1.13 to 1 in Nasdaq

Net new lows were leading by 465 in NYSE & 1811 in Nasdaq

VIX Down 2.43% @ 31.77

Oil @ $106.13

Gold @ $1824.60

Canadian $ @ .6940

Portfolio ARKK BTCC MGM NCLH PLTR RIOT SOFI UAL

Stocks which closed UP 5% or more included ARKK PLTR RIOT 

AFRM HOOD SQ COIN ARKF ROKU ARKG DASH PINS

DKNG SNOW GOOS SHOP MTCH JWN KBH MTCH

NVAX MRNA TWLO SPLK ....

AH Futures UP

AH Asian Markets UP

AH Oil UP

AH Gold Down

About market, TAPE finally gave some indication that selling has dried up. Internals improved and VIX gave another signal that all is not that bad. Many of the "so called junk / garbage stocks were flying in double digit UP moves " It IS all about making money, sometimes those winners are given " reprehensible names " by those whose stocks are not performing.

BLOG does NOT give buy or sell.

Saleem

Indices closed Down 1.02% to 3.18%.....

 Indices closed down.

S&P 500 @ 3935.18, low 3928.82, high 4049.09

RSI @ 31.64

CMF @ -0.146

Internals were :

Down volume led by 2.38 to 1 in NYSE & 4.26 to 1 in Nasdaq

Declining stocks led by 2.16 to 1 in NYSE & 3.62 to 1 in Nasdaq

Net new lows were leading by 461 in NYSE & 1599 in Nasdaq

VIX Down 1.30% @ 32.56

Oil @ $104.68

Gold @ $1853.70

Canadian $ @ .7052

In my portfolio...

Sold SOL @ $3.88

Added 50% SOFI @ $5.35

Portfolio ARKK BTCC MGM NCLH PLTR RIOT SOFI UAL

Stocks which closed green included SOFI

APA SU CVX OXY SLB LNG NTR 

MOS LI TECK TRIP SCHW IBM

NEM TD XLE EXPE MA V....

AH Futures UP

AH Asian Markets Down

AH Oil Down

AH Gold UP

About market, TAPE has reached a deeply oversold condition with very little room left for downside, this is based on RSI read for many decades, when stocks trades in 20s RSI we are almost done with last sellers. VIX was actually down today in this relentless selling, another signal that this selling is just about over, plus everyone is extremely afraid of this bear market, another reliable sentiment / contrary indicator......

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed

S&P 500 @ 4001.05, high 4068.82, low 3958.17

RSI @ 34.14

CMF @ -0.128

Internals were :

Down volume led by 1.45 to 1 in NYSE & .92 to 1 in Nasdaq

Declining stocks led by 1.36 to 1 in NYSE & 1.35 to 1 in Nasdaq

Net new lows were leading by 458 in NYSE & 1416 in Nasdaq

VIX Down 5.06% @ 32.99

Oil @ $99.76

Gold @ $1841.00

Canadian $ @ .6964

Portfolio ARKK BTCC MGM NCLH PLTR RIOT SOFI SOL UAL

Stocks which closed UP 3% or more included MGM

MOS LULU SAVE TRIP ARKG LAC MGNI 

DASH DKNG PANW NXPI EAT LSCC

NVDA SPLK EXPE SPWR CMG....

AH Futures UP

AH Asian Markets Down

AH Oil UP

AH Gold Down

About market, TAPE remains in a bear mode, struggling and fading with any UP move. It is all about inflation numbers @ 830 AM, numbers should show moderation NOT elevated level of 8%++++ numbers. Any rally attempt on better inflation numbers should be monitored as to how we close. Losing 500+ DOW points or 200+ Nasdaq points is a given in a bear market.

BLOG does NOT give buy or sell.

Saleem

Indices closed down 1.99% to 4.29%....

 Indices closed down.

S&P 500 @ 3991.24, low 3975.48, high 4081.27

RSI @ 33.42

CMF @ -0.156

Internals were :

Down volume led by 11.38 to 1 in NYSE & 5.21 to 1 in Nasdaq

Declining stocks led by 7.18 to 1 in NYSE & 5.51 to 1 in Nasdaq

Net new lows were leading by 459 in NYSE & 1674 in Nasdaq

VIX UP 15.10% @ 34.75

Oil @ $103.09

Gold @ $1858.60

Canadian $ @ .7032

Portfolio ARKK BTCC MGM NCLH PLTR RIOT SOFI SOL UAL

Stocks which closed green included

KBH UPS MRNA....

AH Futures Down

AH Asian Markets Down

AH Oil & Gold Down

About market, TAPE was extremely weak on no news but by its own negative momentum. Internals were extremely negative specially in Nasdaq where there was a wholesale rout in everything technology, intensity which I have not witnessed in my 6 decade of exposure. Market breached all its support and is in a very negative picture. Even mighty oil & gas stocks were looking extremely weak.

BLOG does NOT give buy or sell.

Saleem

Fear has crept into US stock market....

 Fear has finally crept into US stock market....

Everyone is afraid of this market....

Even those who are bullish have very low confidence in the direction of US stock market....

Biggest stumbling block is ongoing war in Ukraine....

Ukraine has become biggest question mark which is preventing this market to find a bottom..

Inflation has an end point

Interest hike has an end point point

In normal market environment Inflation & Interest hikes would have created a bottom in US stock market but with uncertainty about Ukraine, nobody knows and can predict.....

This market environment can only create more opportunities for shorts and bulls are suffering...

Last week was a clear tell tale that nothing is changing anytime soon....

It is becoming extremely difficult to even analyze technicals or fundamental as everything is intertwined badly.....

I am expecting more downside until Ukraine gets resolved.....

Inflation is subsiding based on my analysis....which is a good thing...

Interest rates are on the verge of peaking based on much watched 10 year yield...

BUT Ukraine maintains status quo

All I am doing is maintaining my exposure till market psychology changes...

What you should do is based on your view of inflation, interest rate and Ukraine.....

For some waiting it out may be a better strategy when more clarity is evident.

In the meantime good luck with your homework as more and more sectors are joining ongoing pullbacks and slump.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .30% to 1.40%....

 Indices closed down and touched new lows in Nasdaq which took another selling bout.

S&P 500 @ 4123.34, low 4067.91, high 4157.69

RSI @ 38.77

CMF @ -0.134

Internals were :

Down volume led by 2.16 to 1 in NYSE & 2.92 to 1 in Nasdaq

Declining stocks led by 2.49 to 1 in NYSE & 3.04 to 1 in Nasdaq

Net new lows were leading by 454 in NYSE & 1072 in Nasdaq

VIX Down 3.24% @ 30.19

Oil @ $109.77

Gold @ $1882.80

Canadian $ @ .7107

Stocks which closed green included

HST APA SQ AAPL AMD IBM

PFE NEM CVX EAT MCD OLED

OXY SLB LNG....

Here is my portfolio weighting :

ARKK       30.77%

UAL         20.60%

MGM      20.30%

PLTR        9.13%

BTCC       8.39%

NCLH      7.92%

RIOT       1.83%

SOFI         .62%

SOL          .44%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed down 3.12% to 4.99%....

 Indices closed down.

S&P 500 @ 4146.87, low 4106.01, high 4270.43

RSI @ 39.83

CMF @ -0.126

Internals were :

Down volume led by 15.26 to 1 in NYSE & 4.79 to 1 in Nasdaq

Declining stocks led by 7.40 to 1 in NYSE & 4.99 to 1 in Nasdaq

Net new lows were leading by 458 in NYSE & 614 in Nasdaq

VIX UP 22.74% @ 31.20

Oil @ $108.26

Gold @ $1875.70

Canadian $ @ .7148

Portfolio ARKK BTCC MGM NCLH PLTR RIOT SOFI SOL UAL

Stocks which closed green included

TRIP MGNI NKLA RUN LYFT TWTR....

AH Futures Down

AH Asian Markets Down

AH Oil & Gold Down

About market, TAPE was in an extreme selling mode shocking most traders / investors. This selling had the feeling of extreme capitulation. Today's TAPE action took the confidence out of most traders in terms of even understanding how market works, extremely disappointing. Its all about jobs number which is around 400000 job creation.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 2.81% to 3.19%...NICE !!!!

 Indices closed UP.

S&P 500 @ 4300.17, high 4307.66, low 4148.91

RSI @ 47.68

CMF @ -0.090

Internals were :

UP volume led by 8.23 to 1 in NYSE & 4.59 to 1 in Nasdaq

Advancing stocks led by 3.98 to 1 in NYSE & 2.39 to 1 in Nasdaq

Net new lows were leading by 466 in NYSE & 459 in Nasdaq

VIX Down 13.09% @ 25.42

Oil @ $107.81

Gold @ $1868.80

Canadian $ @ .7178

Portfolio ARKK BTCC MGM NCLH PLTR RIOT SOFI SOL UAL

Stocks which were UP 5% or more included ARKK BTCC RIOT SOFI SOL

APA AFRM HOOD TECK COIN ROKU MGNI MSTR PINS

RUN AMD DOCU ZM KBH DHI PHM ENPH BYND FB

TWLO SLB SPWR JKS....

AH Futures Mixed

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE was in overdrive as Fed gave clear signal that more than 50 basis is not needed for next 2 meetings as inflation may have peaked. Technology was the-biggest winner in today's jump. Travel related stocks missed the party. Indices closed near high for the day, third straight positive close. Internals were strong.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .20% to .48%...NICE !!!!

 Indices closed UP.

S&P 500 @ 4175.48, high 4200.10, low 4147.08

RSI @ 38.52

CMF @ -0.177

Internals were :

UP volume led by 2.68 to 1 in NYSE & 1.73 to 1 in Nasdaq

Advancing stocks led by 1.92 to 1 in NYSE & 1.27 to 1 in Nasdaq

Net new lows were leading by 461 in NYSE & 248 in Nasdaq

VIX Down 9.45% @ 29.25

Oil @ $102.41

Gold @ $1870.60

Canadian $ @ .7160

Portfolio ARKK BTCC MGM NCLH PLTR RIOT SOFI SOL UAL

Stocks which closed green included NCLH SOFI SOL UAL

CNX NTR MOS FSLR SPWR MU TECK COIN AAPL 

PAAS AAL LAC SCHW RUN AMD PFE PENN SHOP 

NVAX CVX BA OXY SLB LNG JKS MGA MS

OSTK LRCX....

AH Futures UP

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE was all over then closed green, 2nd back to back higher close in major indices. Fed policy statement should be as expected 50 basis hike and market should rally hard . Fed statement should have enough for market to feel good as enough work has been done by 10 year rate and markets have pulled back big time.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .26% to 1.63%...NICE!!!!

 Indices closed UP.

S&P 500 @ 4155.38, high 4169.81, low 4062.51

RSI @ 36.87

CMF @ -0.138

Internals were :

UP volume led by 1.16 to 1 in NYSE & 2.54 to 1 in Nasdaq

Advancing stocks led by .66 to 1 in NYSE & 1.31 to 1 in Nasdaq

Net new lows were leading by 459 in NYSE & 709 in Nasdaq

VIX Down 3.17% @ 32.34

Oil @ $105.17

Gold @ $1863.60

Canadian $ @ .7113

Portfolio ARKK BTCC MGM NCLH PLTR RIOT SOFI SOL UAL

Stocks which were UP 3% included ARKK PLTR RIOT SOFI

SNAP XPEV AFRM HOOD PYPL MU SQ COIN ROKU

MRVL QCOM QRVO SWKS RUN AMD DKNG SNOW

PENN DOCU SHOP ZM ENPH NVAX TWLO TSLA

FB BABA JWN OXY LVS OSTK MSTR....

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE was under selling pressure again and made new trading lows in S&P 500 & Nasdaq while DOW was down 530 area as 10 year spiked UP to 3.0%. After 330 PM TAPE went into buying frenzy and we erased all the losses and closed in green. Most sectors participated in this uptrend. Interesting tid bit we did not go below 4062 in S&P 500 which was predicted by many technicians.

BLOG does NOT give buy or sell.

Saleem

US stock market ready to bounce.....?

 US stock market is ready to bounce......?

Headline may be surprising to most, but I view US stock market from sentiment point of view....

Sentiment in US stock market is reaching level seen @ bottom of 2008......14 years ago

Most traders & investors are " deeply disgusted " with Tape action .....

When everyone is " throwing up "...It Is the-best contrary indicator.....

It IS time to be most aggressive in US stock market.......

We are deeply oversold

We closed near low of the day on most days.....

RSI reading are in deep oversold territory.....here are some sample :

S&P 500 RSI 34.98

Nasdaq RSI 35.01

DOW RSI 37.93

SOX RSI 39.22

IWM RSI 34.32 ( Russell 2000 )

TAN RSI 35.94 ( Solar )

XLE RSI 46.43 ( Energy )

XLB RSI 42.72 ( Materials )

JETS RSI 50.51 ( Airlines )

ARKK RSI 30.25 ( Cathie WOOD ETF )

SO for me ARKK was a screaming buy in a most aggressive portfolio as it is down down 26% in month of April alone ..it was $155 only a year ago now $47.19 cents a drop of 69.55%......whose number 1 holding is TSLA, 2nd ZM & 3rd is COIN......In my opinion, it was the best way to own top 10 holdings of ARKK as they are very expensive to own individually....Top 10 holdings account for 49.20% of total asset....

YES ..you can have your own mini version of aggressive portfolio as per your own comfort level.....

Most of the issues are deeply discounted by Wall Street including 50 basis hike on Wednesday...War in Ukraine is not letting up.....Inflation may be peaking.... Supply chain may be peaking.....

I have found that when extreme pessimism rules, it is the-best time to have your best ideas into play....

Never waste time in catching exact bottom, It may be there same day when market makes a strong V bottom.....

Good luck with your own analysis and comfort level.

BLOG does NOT give buy or sell.

Saleem