Indices closed down .82% to 1.33%....

 Indices closed down.

S&P 500 @ 3785.38, low 3738.67, high 3818.99

RSI @ 41.53

CMF @ -0.057

Internals were :

Down volume led by 2.90 to 1 in NYSE & 2.14 to 1 in Nasdaq

Declining stocks led by 1.75 to 1 in NYSE & 1.52 to 1 in Nasdaq

Net new lows were leading by 454 in NYSE & 511 in Nasdaq

VIX UP 1.95% @ 28.71

Oil @ $109.78

Gold @ $1807.30

Canadian $ @ .7127

Portfolio ARKK BTCC HST MGM NCLH PLTR RIOT SOFI UAL

Stocks which closed green included

SOL FSLR SPWR SAVE AI RUN

IBM PFE CSIQ JKS ENPH SEDG 

PANW TOL KBH UPS ELF CMG

ORCL....

AH Futures Mixed

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE closed down in a slow drip drip bearish mode. Internals were negative. Solar was the bright star and they were strong. Friday will be a low volume day due to 4th of July long weekend. Most participant will be happy with this long weekend as we all need to recover. Canada is closed tomorrow for July 1st independence day holiday.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 3818.83, low 3788.02, high 3836.50

RSI @ 43.41

CMF @ -0.084

Internals were :

Down volume led by 3.18 to 1 in NYSE & 1.11 to 1 in Nasdaq

Declining stocks led by 1.96 to 1 in NYSE & 1.79 to 1 in Nasdaq

Net new lows were leading by 448 in NYSE & 330 in Nasdaq

VIX Down .71% @ 28.16

Oil @ $109.78

Gold @ $1817.50

Canadian $ @ .7135

Portfolio ARKK BTCC HST MGM NCLH PLTR RIOT SOFI UAL

Stocks which closed green included

SNAP LI LULU JBLU AAPL PINS

PFE NVAX MRNA MSFT PLAN DDOG

PDD JD UPS DHI NKE BYND MCD

META AMZN BROS MA V ORCL

ULTA....

AH Futures Down

AH Asian Markets Down

AH Oil Down

AH Gold UP

About market, TAPE closed mixed with DOW being in green. Economic / inflation indicators decides direction of this market, so far it is south bound in a bearish mode. It IS a bad market which IS testing many nerves. Looks like new lows may be coming soon.

BLOG does NOT give buy or sell.

Saleem

Indices closed down 1.56% to 2.98%.....

 Indices closed down.

S&P 500 @ 3821.55, low 3820.14, high 3945.88

RSI @ 43.56

CMF @ -0.093

Internals were :

Down volume led by 2.93 to 1 in NYSE & 2.09 to 1 in Nasdaq

Declining Stocks led by 2.28 to 1 in NYSE & 2.73 to 1 in Nasdaq

Net new lows were leading by 451 in NYSE & 157 in Nasdaq

VIX UP 5.23% @ 28.36

Oil @ $111.76

Gold @ $1821.20

Canadian $ @ .7115

Portfolio ARKK BTCC HST MGM NCLH PLTR RIOT SOFI UAL

Stocks which closed green included HST

CNX APA SU CNQ OXY SLB LNG

NTR MOS TECK SAVE WYNN LVS

QCOM MS....

AH Futures Down

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE opened @ high of the day and closed @ low of the day, another day and another bear confirmation. Internals were negative. Economic data is being hyper-scrutinized for any indication of slowing economy and that triggered negative reversal in market.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .20% to .72%....

 Indices closed down.

S&P 500 @ 3900.11, low 3889.66, high 3927.72

RSI @ 47.98

CMF @ -0.010

Internals were :

Down volume led by .90 to 1 in NYSE & 1.03 to 1 in Nasdaq

Declining stocks led by .86 to 1 in NYSE & 1.02 to 1 in Nasdaq

Net new lows were leading by 461 in NYSE & 118 in Nasdaq

VIX Down 1.03% @ 26.95

Oil @ $109.57

Gold @ $1824.80

Canadian $ @ .7123

Portfolio ARKK BTCC HST MGM NCLH PLTR RIOT SOFI UAL

Stocks which were UP 2% or more included

SOL CSIQ SEDG JKS SPWR

APA SU CNQ OXY SLB LNG

NTR MOS HOOD TECK BIDU

JD ELF LAC ....

AH Futures UP

AH Asian Markets UP

AH Oil & Gold UP

About market, TAPE closed down with Nasdaq showing most weakness followed by reopen stocks, Solar was the bright spot with JKS breaking out. Despite today's minor pullback, market wants to move beyond current known issues which means higher prices gradually speaking.

BLOG does NOT give buy or sell.

Saleem

Commodities slump helping US Stocks....

 US stock market saw back to back UP move in reaction to slumping commodities prices.

Lumber was the lead indicator of lower commodities prices

Lower commodities means lower inflation

Lower inflation means interest rates may not have to keep going higher and higher.

Oil related stocks also joined the bear slump in a hurry where every trader was hiding

SO...just about every sector has seen the bear market across the board

First to slump were travel related stocks, followed by technology stocks...

Technology stocks looks ready to come out of long 12 months slump......

Restart stocks have a very long way to go UP to make up for steepest loss.

Traders / Investors have been hurt badly and may have a long uphill task of recuperating two year of losses...

When there is fundamental reasons like COVID-19, inflation, recession and higher interest rate plus a long war....technicals are of no help....

Even my long followed RSI gave a constant sell and remained in sell zone for most stocks...

It IS going to be a long & drawn out recovery for most portfolio

It is good to stay with conviction & patience as an ongoing mantra....

Bear market comes and eventually goes away thus having a broad based diversified portfolio works whenever we have snap rallies.....

We may have entered a recovery phase in this bear market, which IS a welcome relief....

Good luck with your own strategy & comfort level.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 2.68% to 3.34%...NICE !!!

 Indices closed UP and @ high of the day, Internals were positive, nice to get confirmation of this UP move. All sectors participated with big gains except energy which took a back seat with modest gains.

S&P 500 @ 3911.74, high 3913.65, low 3821.75

RSI @ 48.66

CMF @ 0.035

Internals were :

UP volume led by 3.34 to 1 in NYSE & 1.68 to 1 in Nasdaq

Advancing stocks led by 4.66 to 1 in NYSE & 2.15 to 1 in Nasdaq

Net new lows were leading by 454 in NYSE & 108 in Nasdaq

VIX Down 6.27% @ 27.23

Oil @ $107.62

Gold @ $1830.30

Canadian $ @ .7077

Stocks which were UP 4% or more included 

ARKK HST MGM NCLH PLTR RIOT SOFI UAL

SNAP AMAT LRCX XPEV NIO AFRM SQ 

PYPL TJX AG GE CRM LSPD COIN BYD

PENN WYNN LVS M X CLF JBLU MRVL

RCL QCOM AAL CCL FCX DASH AMD

SNOW DOCU SHOP DAL ZM CRWD

ESTC SPLK NKE BA NVDA META TSLA

GOOG NFLX MA MS V....

Here is my portfolio weighting :

ARKK        31.59%

UAL          17.07%

MGM       16.38%

HST         12.80%

PLTR      10.03%

NCLH      5.86%

BTCC      5.02%

SOFI      1.15%

Next post by 6 PM on Sunday

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .64% to 1.62%...NICE !!!

 Indices closed UP.

S&P 500 @ 3795.73, high 3802.58, low 3743.52

RSI @ 40.92

CMF @ -0.008

Internals were :

UP volume led by 1.07 to 1 in NYSE & 2.55 to 1 in Nasdaq

Advancing stocks led by 1.41 to 1 in NYSE & 1.67 to 1 in Nasdaq

Net new lows were leading by 465 in NYSE & 251 in Nasdaq

VIX UP .35% @ 29.05

Oil @ $104.27

Gold @ $1829.80

Canadian $ @ .7016

In my portfolio added 100% HST @ $15.75 in pre market

Portfolio ARKK BTCC HST MGM NCLH PLTR RIOT SOFI UAL

Stocks which were UP 4% or more included ARKK BTCC RIOT 

SOL SNAP XPEV AFRM HOOD COIN ARKF ROKU BMBL

ARKG AI MSTR DASH PINS RUN DKNG SNOW LYFT

SHOP CIEN TOL KBH DHI PHM CRWD ESTC UBER

DDOG PDD TWLO BABA SQ OSTK...

AH Futures Down

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE closed near high of the day. Internals were mostly positive. One Day UP next day DOWN has been the trend for this bear market. Restart stocks were negative today in most sectors, not a good sign for overall health of this market.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .13% to .15%.....

 Indices closed down.

S&P 500 @ 3759.89, low 3717.69, high 3801.79

RSI @ 38.25

CMF @ -0.015

Internals were :

Down volume led by 1.48 to 1 in NYSE & .79 to 1 in Nasdaq

Declining stocks led by 1.17 to 1 in NYSE & 1.07 to 1 in Nasdaq

Net new lows were leading by 457 in NYSE & 286 in Nasdaq

VIX Down 4.11% @ 28.95

Oil @ $106.19

Gold @ $1838.40

Canadian $ @ .7062

Portfolio ARKK BTCC HST MGM NCLH PLTR RIOT SOFI UAL

Stocks which were UP 1% or more included ARKK PLTR

SNAP XPEV ROKU ARKG DASH PINS PFE DKNG

SNOW PENN DOCU SHOP KBH DHI PHM MRNA 

MCD TWLO NFLX BROS....

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE closed lower to remain firmly in bearish mode. Internals were negative. Market looking for catalyst to change direction which does not exist. It IS a wait and see for stats to roll in and see where it falls. No real improvement in inflation, war or interest rate front.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 2.15% to 2.51%...NICE !!!

 Indices closed UP.

S&P 500 @ 3764.79, high 3779.65, low 3715.31

RSI @ 38.48

CMF @ 0.021

Internals were :

UP volume led by 4.14 to 1 in NYSE & 2.72 to 1 in Nasdaq

Advancing stocks led by 2.66 to 1 in NYSE & 2.22 to 1 in Nasdaq

Net new lows were leading by 459 in NYSE & 165 in Nasdaq

VIX Down 2.71% @ 30.19

Oil @ $110.65

Gold @ $1838.80

Canadian $ @ .7070

Portfolio ARKK BTCC HST MGM NCLH PLTR RIOT SOFI UAL

Stocks which were UP 4% or more included ARKK PLTR RIOT

AMAT XPEV NIO AFRM HOOD CCJ TECK COIN SAVE 

ROKU BMBL CNQ LAC MSTR BIDU PANW ESTC DDOG 

ENPH PDD CVX BYND NVDA TSLA SPLK BABA

LNG JKS....

AH Futures Down

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE staged an oversold bounce. Internals were positive. Technicians remained extremely bearish with new lows to come. Stay in the market extremely conservative expectations & strategy. This is a full blown bear market which needs a real turn in negative factors to end its pattern.

BLOG does NOT give buy or sell.

Saleem

US stock market testing patience & conviction.....

 US stock market is displaying rare bearish action for the last 6 months in a very defined manner.

BUT technology stocks have been slumping for 14 months straight, It has been taking turns since then.

Restart has been beaten down first due to COVID-19....longest slump since March 2019 BUT NOW it is fear of recession.....

Retail is in the rotation lately of deep slump

Financials are stuck in the mud....low interest rate or higher interest rates, nothing seems to help

Solar stocks goes through its pro Biden moment then quickly fades also

Materials are sliding like there is no tomorrow...

Cryptocurrencies are facing relentless redemption...

Oil stocks have joined the slider chorus....

Homebuilders have glut and shrinking pricing power.

Trouble with all of this IS...there is no place to hide in this market unless you are holding cash.....

Now the question IS

What should be done ?

Have less exposure

Well diversified portfolio

Lots of patience & conviction...

In my humble opinion, Technology should be the first one to catch a bid as they started falling first....

Rest depends on COVID and recession

COVID-19 keeps repeating its infectious cycle in China & many countries over & over..

Recession depths nobody knows....

Thus play safe with cash or limited exposure with mega dose of patience & conviction.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed in a week which major Indices got deeper into bear territory. Nasdaq giving every indication that It has reached support and trying to turn UP.

S&P 500 @ 3674.84, high 3707.74, low 3636.87

RSI @ 31.77

CMF @ 0.015

Internals were :

UP volume led by 1.33 to 1 in NYSE & 3.47 to 1 in Nasdaq

Advancing stocks led by 1.37 to 1 in NYSE & 1.94 to 1 in Nasdaq

Net new lows were leading by 454 in NYSE & 449 in Nasdaq

VIX Down 5.52% @ 31.13

Oil @ $109.56

Gold @ $1840.60

Canadian $ @ .6943

Stocks which were UP 4% or more included

ARKK NCLH PLTR SOFI UAL

FSLR SPWR RUN ENPH NIO

AFRM HOOD LSPD JBLU AAL 

TRIP ROKU RCL MGNI AI

DASH PINS DKNG SNOW

LYFT DOCU ZI ESTC UBER

DDOG JD TWLO XPEV RH...

Here is my portfolio weighting :

ARKK        31.72%

UAL          19.06%

MGM       17.95%

PLTR         9.62%

HST          7.57%

NCLH      6.00%

BTCC      5.70%

SOFI      1.29%

RIOT     1.09%

Next post by 6 PM on Monday, as US markets are closed on Monday, world markets are open.

BLOG does NOT give buy or sell.

Saleem

Indices closed down 2.42% to 4.08%....

 Indices closed down.

S&P 500 @ 3666.77, low 3639.77, high 3728.18

RSI @ 31.14

CMF @ -0.008

Internals were :

Down volume led by 15.97 to 1 in NYSE & 3.18 to 1 in Nasdaq

Declining stocks led by 7.58 to 1 in NYSE & 4.50 to 1 in Nasdaq

Net new lows were leading by 461 in NYSE & 1128 in Nasdaq

VIX UP 11.24% @ 32.95

Oil @ $117.58

Gold @ $1849.90

Canadian $ @ .7072

Portfolio ARKK BTCC HST MGM NCLH PLTR RIOT SOFI UAL

Stocks which closed green included 

PAAS GOLD NEM

AH Futures UP

AH Asian Markets Down

AH Oil & Gold Down

About market, TAPE went into bearish mode again as world Central banks lifted their interest rates to fight inflation. Internals were negative. We need a positive close on Friday and hopefully we may get it. Stay the course, end of this bear market may be @ hand.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 1.00% to 2.50%...NICE !!!

Indices closed UP.

S&P 500 @ 3789.99, high 3837.56, low 3722.30

RSI @ 35.79

CMF @ -0.030

Internals were :

UP Volume led by 3.60 to 1 in NYSE & 4.35 to 1 in Nasdaq

Advancing stocks led by 2.80 to 1 in NYSE & 2.76 to 1 in Nasdaq

Net new lows were leading by 460 in NYSE & 355 in Nasdaq

VIX Down 9.39% @ 29.62

Oil @ $115.31

Gold @ $1819.60

Canadian $ @ .7021

In my portfolio Added 31% BTCC.TO @ $4.23

Portfolio ARKK BTCC HST MGM NCLH PLTR RIOT SOFI UAL 

Stocks which were UP 5% or more included ARKK NCLH

SOL SNAP SPWR NIO AFRM LSPD COIN ROKU ZI

BMBL MGNI MSTR DASH PINS DOCU SHOP ZM

BA BYND AMZN NFLX CMG....

AH Futures UP

AH Asian Markets UP

AH Oil & Gold UP

About market, TAPE closed UP after Fed increased its rate by 75 basis, lot of gloom was lifted from stock market. Expect a confirmation of this rally on Thursday. Many stocks are in bargain territory including Crypto Currencies. Aggressive exposure is a good idea with your risk tolerance.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 3735.48, low 3705.68, high 3778.18

RSI @ 31.59

CMF @ 0.008

Internals were :

Down volume led by 1.62 to 1 in NYSE & 1.01 to 1 in Nasdaq

Declining stocks led by 1.96 to 1 in NYSE & 1.36 to 1 in Nasdaq

Net new lows were leading by 465 in NYSE & 1004 in Nasdaq

VIX Down 3.91% @ 32.69

Oil @ $118.93

Gold @ $1813.50

Canadian $ @ .7068

Portfolio ARKK BTCC HST MGM NCLH PLTR RIOT SOFI UAL

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

XPEV NTR MOS NIO BYD SAVE TSM ROKU QCOM QRVO AI 

MSTR DKNG LVS PENN ZM CRWD DDOG PDD JD BABA

BA NVDA TSLA LNG ORCL.....

AH Futures UP

AH Asian Markets Down

AH Oil UP

AH Gold Down

About market, TAPE has finally found a tradeable bottom which should hold. Fed will raise rates by 75 basis points which will start a huge rally. Q & A by Fed chief will give more comfort that all is not lost and market will like it. Nasdaq showed sign of life which is critical to the health of world stock market.

BLOG does NOT give buy or sell.

Saleem

Indices closed down 2.79% to 4.68%....

 Indices closed down.

S&P 500 @ 3749.63, low 3734.30, high 3838.15

RSI @ 32.10

CMF @ 0.007

Internals were :

Down volume led by 43.22 to 1 in NYSE & 5.67 to 1 in Nasdaq

Declining stocks led by 16.62 to 1 in NYSE & 7.07 to 1 in Nasdaq

Net new lows were leading by 468 in NYSE & 1104 in Nasdaq

VIX UP 22.59% @ 34.02

Oil @ $120.93

Gold @ $1831.80

Canadian $ @ .7143

Portfolio ARKK BTCC HST MGM NCLH PLTR RIOT SOFI UAL

Stock which closed green MCD

AH Futures UP

AH Asian Markets Down

AH Oil UP

AH Gold Down

About market, TAPE was under tremendous selling pressure from Friday's CPI hangover plus new lockdown in China, IF that was not enough all Crypto currencies were taken down sharply to the tune of 25% due to liquidity issues, all support were taken out in all aspect of US market. IF we look @ internals, It IS clearly showing a " complete washout " which means we are very very close to end of this selling, a technical bounce is imminent.

BLOG does NOT give buy or sell.

Saleem

US stock market & Fed meeting.....

 US stock market not only is displaying a bear pattern but is also behaving in a manner that is pointing to even deeper technical deteriorating behavior.

Bear market does not go down in a straight line and stays down which is the case now.

Inflation has gone totally out of control and no end is in sight, Food inflation, Gasoline inflation, Natural Gas inflation, Home price inflation, Mortgage Interest rate hike plus consumer lending rate all going UP & UP @ a fast pace....

Most World Central banks are panicking NOW and hinting that they will hike much more than traditional 25 / 50 basis points..75 or 100 is what being hinted....

World & US stock market was not ready for War, Inflation, Higher interest rates not to mention QT which stands for Quantitative Tightening which means liquidity will be drained out of system....

NO WONDER stock market has been down 10 out of 11 weeks, never happened since 1930's.

What to do about all this.....NOT MUCH

We are stuck in a market which is being pressured more and more by unusual events and there is no end in sight....

Traders / Investors have no choice but to suffer in near term

Fed meeting and its statement will be more hawkish ...Q & A will be more of the same....

How much of hawk talk is in the market only close will tell everyday, we seems to be closing @ lows most of the days.

We have no choice but to mark time and go through a very bad patch in the market.

Good luck with your conviction & patience.

BLOG does NOT give buy or sell.

Saleem

Indices closed down 2.73% to 3.52%....

 Indices closed down sharply lower & @ low of the day. Hotter CPI data and rising yield was the reason for this major slump. Fed meeting & policy statement next Wednesday was also under focus.

S&P 500 @ 3900.86, low 3900.16, high 3974.39

RSI @ 38.17

CMF @ 0.085

Internals were :

Down volume led by 7.69 to 1 in NYSE & 3.55 to 1 in Nasdaq

Declining stocks led by 5.7 to 1 in NYSE & 4.02 to 1 in Nasdaq

Net new lows were leading by 456 in NYSE & 434 in Nasdaq

VIX UP 6.36% @ 27.75

Oil @ $120.67

Gold @ $1875.50

Canadian $ @ .7214

Stocks which closed green included

AG PAAS GOLD NEM AEM PDD

JD ELF JKS.....

In my portfolio Bought HST @ $18.76

Here is my portfolio weighting :

ARKK       29.59%

UAL         19.52%

MGM       18.42%

PLTR         8.70%

HST           7.86%

BTCC        7.41%

NCLH        6.24%

RIOT         1.13%

SOFI         1.13%

Next post by 6 PM on Sunday

BLOG does NOT give buy or sell

Saleem

Indices closed down 1.94% to 2.75%....

 Indices closed down.

S&P 500 @ 4017.82, low 4017.17, high 4119.10

RSI @ 44.16

CMF @ 0.157

Internals were :

Down volume led by 13.91 to 1 in NYSE & 1.83 to 1 in Nasdaq

Declining stocks led by 5.51 to 1 in NYSE & 2.79 to 1 in Nasdaq

Net new lows were leading by 452 in NYSE & 149 in Nasdaq

VIX UP 8.89% @ 26.09

Oil @ $121.51

Gold @ $1852.80

Canadian $ @ .7347

Portfolio ARKK BTCC MGM NCLH PLTR RIOT SOFI UAL

Stocks which closed green included 

NXPI KBH JWN

AH Futures UP

AH Asian Markets Down

AH Oil & Gold Down

About market, TAPE maintained its bearish posture by closing sharply lower but @ low of the day. Market is getting very difficult to navigate as is always the case in a bear market. Tomorrow @ 830AM it is all about CPI which may show a hair improvement over previous month which may not give any help to bulls.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .73% to 1.08%...

 Indices closed down.

S&P 500 @ 4115.77, low 4107.20, high 4160.14

RSI @ 50.30

CMF @ 0.146

Internals were :

Down volume led by 2.70 to 1 in NYSE & 1.08 to 1 in Nasdaq

Declining stocks led by 2.78 to 1 in NYSE & 1.32 to 1 in Nasdaq

Net new lows were leading by 452 in NYSE & 69 in Nasdaq

VIX Down .25% @ 23.96

Oil @ $122.11

Gold @ $1856.50

Canadian $ @ .7475

Portfolio ARKK BTCC MGM NCLH PLTR RIOT SOFI UAL

Stocks which closed green included ARKK PLTR

XPEV NIO LULU CCJ CRM ROKU WYNN

LVS DKNG AI DASH BIDU PINS SNOW 

LYFT UBER SHOP CRWD ESTC PDD

JD BABA NKE JWN SLB NFLX 

OSTK ULTA.....

AH Futures Down

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE closed down due to rising yield. Bearish action continues with no follow thru to any gains. Market is waiting for CPI numbers which may be better than feared for but without confirmation, it is wait and see. Stay the course until it confirms your patience & conviction.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .80% to .95%...NICE !!!

 Indices closed UP.

S&P 500 @ 4160.68, high 4164.86, low 4080.19

RSI @ 53.47

CMF @ 0.152

Internals were :

UP volume led by 2.53 to 1 in NYSE & 2.43 to 1 in Nasdaq

Advancing stocks led by 2.36 to 1 in NYSE & 1.67 to 1 in Nasdaq

Net new lows were leading by 455 in NYSE & 124 in Nasdaq

VIX Down 4.19% @ 24.02

Oil @ $119.41

Gold @ $1852.10

Canadian $ @ .7447

Portfolio ARKK BTCC MGM NCLH PLTR RIOT SOFI UAL

Stocks which were UP 2% or more included ARKK UAL

SOL APA XPEV NIO SPWR PYPL CRM SAVE ROKU

MRVL CNQ AAL CLF BIDU SNOW PANW DOCU 

SHOP ZM CRWD ESTC UBER DDOG PDD JD 

CLF TWLO SPLK BABA JWN SLB LNG....

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE closed near high of the day. Internals were mostly positive. Today's market action was very comforting to bulls as we held our positive ground and closing was near highs. Hopefully we can confirm this positive action by another positive close on Wednesday.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .05% to .40%...NICE !!!

 Indices closed UP.

S&P 500 @ 4121.43, high 4168.78, low 4109.18

RSI @ 43.67

CMF @ 0.073

Internals were :

UP volume led by 1.70 to 1 in NYSE & 1.14 to 1 in Nasdaq

Advancing stocks led by 1.29 to 1 in NYSE & .98 to 1 in Nasdaq

Net new lows were leading by 454 in NYSE & 133 in Nasdaq

VIX UP 1.13% @ 25.07

Oil @ $118.50

Gold @ $1843.70

Canadian $ @ .7428

Portfolio ARKK BTCC MGM NCLH PLTR RIOT SOFI UAL

Stocks which were UP 2% or more included BTCC RIOT

HST CNX SNAP XPEV SPWR NIO MGA COIN X

JBLU SAVE ROKU BMBL WYNN LAC MGNI 

FCX MSTR DASH BIDU PINS RUN DKNG

CSIQ PENN ESTC UBER ENPH PDD JD BABA

NVAX LITE SEDG JKS GOOG ULTA....

AH Futures Down

AH Asian Markets Down

AH Oil Down

AH Gold UP

About market, TAPE finished green which is a victory in this bearish environment, internals were mostly positive. Focus has shifted to CPI this week which is creating more jitters, is it going to be hotter than expected. Stay the course as market is trying to look @ all indicators as Fed is looking @ all data closely.

BLOG does NOT give buy or sell.

Saleem

US stock market mixed bag.....

 US stock market can be best described as mixed bag.

US stock market is having serious reaction to interest rate jitters.

Uptrend is impacted by any news about more than expected rate hikes.

Market is looking for clarity in interest rate hikes which does not exist.

Ukraine news is getting more digestible to markets as grain shipment may resume

Here is the current read on RSI :

TAN         63.40

XLB         55.29

IWM        53.50

SOX        52.40

DOW      51.38

XLF        50.20

S&P 500 50.14

Nasdaq  48.83

JETS     46.58

ARKK   45.70

As you can clearly see that market has no real favorites currently, TAN or Solar stocks have fared well in this uncertain market, followed by XLB materials stocks.

Russell 2000 or IWM is 3rd favorite so far,

SOX has surprisingly fared much better than popular consensus is number 4th best performing.

DOW, Financials & S&P 500 are rated 5, 6 & 7

Bottom 3 are Nasdaq, JETS & ARKK.....

Nasdaq being 3rd worst is a huge surprise this late into recovery phase...

ARKK has the unique crown of being the most laggard

RSI rating is a good way to know that old ideas or popular ideas are not working and may be a waste of capital allocation

DOG of RSI may be a contrary way of investing or trading...

Lot to think about where we stand in terms of market preference and performance.

Good luck with your own interpretation of RSI and comfort level.

Making money is never easy in a bear market, losing lots of money happens in a hurry IF your allocation is out of favor.

BLOG does NOT give buy or sell.

Saleem

Indices closed down 1.05% to 2.47%....

 Indices closed down on better jobs reports and comments from another Fed official which was @ best more hikes may come beyond September. Indices closed near low of the day and internals were mostly negative.

S&P 500 @ 4108.54, low 4098.87, high 4142.67

RSI @ 50.14

CMF @ 0.105

Internals were :

Down volume led by 3.65 to 1 in NYSE & 2.21 to 1 in Nasdaq

Declining stocks led by 2.68 to 1 in NYSE & 1.79 to 1 in Nasdaq

Net new lows were leading by 456 in NYSE & 96 in Nasdaq

VIX UP .28% @ 24.79

Oil @ $118.87

Gold @ $1850.20

Canadian $ @ .7413

Stocks which closed green included

APA SU CVX OXY SLB

FSLR TWTR AI IBM PFE

RH BROS.....

Here is my portfolio weighting :

ARKK        31.79%

UAL          21.04%

MGM        20.09%

PLTR          9.41%

BTCC         7.54%

NCLH        7.40%

SOFI          1.36%

RIOT         1.31%

Next post by 6 PM on Sunday!

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 1.33% to 2.69%....NICE !!!

 Indices closed UP.

S&P 500 @ 4176.82, high 4177.51, low 4074.37

RSI @ 54.63

CMF @ 0.095

Internals were :

UP volume led by 4.13 to 1 in NYSE & 4.98 to 1 in Nasdaq

Advancing stocks led by 3.35 to 1 in NYSE & 2.95 to 1 in Nasdaq

Net new lows were leading by 457 in NYSE & 108 in Nasdaq

VIX Down 3.78% @ 24.72

Oil @ $116.87

Gold @ $1871.40

Canadian $ @ .7410

Portfolio ARKK BTCC MGM NCLH PLTR RIOT SOFI UAL

Stocks which were UP 5% or more included

ARKK NCLH PLTR RIOT SOFI SOL

SNAP XPEV AFRM PYPL AG SQ

CRM LSPD COIN ARKF ARKG

ROKU MRVL PINS AMD DKNG 

SNOW LYFT PENN DOCU SHOP

UBER DDOG ENPH SEDG BA

BYND FB NFLX SPLK OSTK

LAC.....

AH Futures UP

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, TAPE hesitated and went down on Fed member prediction that September interest rate hike is in place. After digestion of negativity June $$ allocation kicked in and we closed @ high of the day. Most stocks were UP in double digits reflecting deeply oversold condition. Its all about jobs report weaker number from ADP may prevail and stocks will like that.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .54% to .75%.....

 Indices closed down.

S&P 500 @ 4101.23, low 4073.85, high 4166.54

RSI @ 50.04

CMF @ 0.104

Internals were :

Down volume led by 2.07 to 1 in NYSE & 1.97 to 1 in Nasdaq

Declining stocks led by 1.64 to 1 in NYSE & 1.90 to 1 in Nasdaq

Net new lows were leading by 460 in NYSE & 159 in Nasdaq

VIX Down 1.91% @ 25.69

Oil @ $115.26

Gold @ $1843.70

Canadian $ @ .7326

Portfolio ARKK BTCC MGM NCLH PLTR RIOT SOFI UAL

Stocks which closed green included

HST CNX APA SU CNQ OXY SLB LNG

AG TECK FCX CLF CRM BIDU IBM

MSFT ZI CIEN MTCH NTAP DDOG

LITE AMZN BROS.....

AH Futures UP

AH Asian Markets Mixed

AH Oil Down

 AH Gold UP

About market, TAPE closed down after being all over the map, Jamie Dimon can take full credit for today's reversal as he was vocally bearish about US economy, in a very jittery market when so-called bulls turn bearish there is a shock / surprise element. Near bottom a bear market is very reactive like today BUT we shall recover.

BLOG does NOT give buy or sell.

Saleem