US stock market shifting into bull mode...

 It has been a relentless downtrend since start of 2022.

Technology stocks has been in a spiraling slump since Q 2 of 2021...a long 15 months bear market.

Airlines Cruise lines Casinos are in a bear market of their own

Crypto currencies got crushed

BUT all that are slowly changing course or are about to....

TAN or Solar stocks are in a fast bull market with an RSI of 72.69...highest in my universe...

JETS or Airlines have the lowest RSI of 53.53 in my universe...

Rest of all indices are above 60 including XLF which is @ 61.97.....

Internals or technicals of this market has turned UP even of worst performing sector, a sign of " bull market in making "

It is time to have more conviction in your own selections instead of chasing new hot stocks

Patience is key when market turns inti bull mode, they all take turns in going UP FAST...

Good luck with your own take on market and your own comfort level.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .97% to 1.88%...NICE !!!

 Indices closed UP 3 day's in a row. Market is looking ahead to mild dip in economy and then GDP growth. Indices closed near high of the day.

S&P 500 @ 4130.29, high 4140.15, low 4079.22

RSI @ 65.90

CMF @ 0.397

Internals were :

UP volume led by 2.58 to 1 in NYSE & 1.33 to 1 in Nasdaq

Advancing stocks led by 2.92 to 1 in NYSE & 1.41 to 1 in Nasdaq

Net new lows were leading by 448 in NYSE & 33 in Nasdaq

VIX Down 4.48% @ 21.33

Oil @ $98.62

Gold @ $1781.80

Canadian $ @ .7193

Stocks which were UP 2% or more included PLTR

SOL SNAP NTR MOS SPWR RUN FSLR AFRM

LULU TECK X LSPD AAPL MRVL CNQ SU 

CVX OXY SLB LNG FCX CLF MSTR AMD

SNOW GOOS DDOG ENPH TSLA LRCX

AMZN JWN RH NKE....

Here is my portfolio weighting ;

ARKK          30.45%

MGM          17.35%

UAL           15.94%

HST          12.87%

PLTR          9.98%

BTCC        5.51%

NCLH       5.27%

RIOT        1.41%

SOFI       1.27%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 1.03% to 1.21%...NICE !!!

 Indices closed UP.

S&P 500 @ 4072.43, high 4078.95, low 3992.97

RSI @ 62.61

CMF @ 0.364

Internals were :

UP volume led by 2.88 to 1 in NYSE & 2.27 to 1 in Nasdaq

Advancing stocks led by 3.56 to 1 in NYSE & 1.65 to 1 in Nasdaq

Net new lows were leading by 444 in NYSE & 47 in Nasdaq

VIX Down 3.92% @ 22.33

Oil @ $96.42

Gold @ $1750.30

Canadian $ @ .7165

Portfolio ARKK BTCC HST MGM NCLH PLTR RIOT SOFI UAL

Stocks which were UP 4% or more included BTCC NCLH

SOL FSLR SPWR ENPH LSPD COIN SAVE BMBL

RCL LAC SCHW MSTR RUN CSIQ LYFT EAT

NKE BROS GOOS OSTK.....

AH Futures Mixed

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE showed strength and gave a very bullish strength by showing back to back gains. Indices closed near high of the day. After hour AMZN & AAPL lit the bullish fire again ensuring Friday to be again hot in technology. Solar stocks ran away based on agreement in US Senate.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 1.37% to 4.06%...NICE !!!

 Indices closed UP.

S&P 500 @ 4023.61, high 4039.56, low 3951.43

RSI @ 53.67

CMF @ 0.322

Internals were :

UP volume led by 5.82 to 1 in NYSE & 4.61 to 1 in Nasdaq

Advancing stocks led by 5.27 to 1 in NYSE & 3.11 to 1 in Nasdaq

Net new lows were leading by 457 in NYSE & 86 in Nasdaq

VIX Down 5.87% @ 23.24

Oil @ $97.26

Gold @ $1719.10

Canadian $ .7113

Portfolio ARKK BTCC HST MGM NCLH PLTR RIOT SOFI UAL

Stocks which were UP 6% or more included ARKK BTCC PLTR RIOT

SOL SHOP AFRM PYPL AG SQ LSPD COIN TRIP ROKU BMBL

MSTR RUN DKNG SNOW MSFT LYFT DOCU ENPH BYND

NVDA TWLO META TSLA GOOG NFLX CMG....

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE closed UP and near high of the day. Fed policy statement was as expected which market liked, BUT next day we do NOT get follow through as rethink takes hold. Most sectors came alive including Crypto currencies. Solar had a good day.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .71% to 1.87%.....

 Indices closed down.

S&P 500 @ 3921.05, low 3910.74, high 3953.22

RSI @ 51.87

CMF @ 0.239

Internals were :

Down volume led by 2.28 to 1 in NYSE & 1.92 to 1 in Nasdaq

Declining stocks led by 1.73 to 1 in NYSE & 1.72 to 1 in Nasdaq

Net new lows were leading by 449 in NYSE & 121 in Nasdaq

VIX UP 5.69% @ 24.69

Oil @ $94.98

Gold @ $$1717.70

Canadian $ @ .7107

Portfolio ARKK BTCC HST MGM NCLH PLTR RIOT SOFI UAL

Stocks which were UP 1% or more included

CNX AG PAAS GOLD NEM AEM PFE

NVAX LITE VICR MCD FFIV LNG....

AH Futures UP

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE was under selling pressure which accelerated into close, Indices closed near low of the day. After hours earnings from GOOG TXN CMG were greeted with relief and were UP in late trading. It IS all about 2 PM announcement by Fed about its policy statement and rate hike, there may be something positive for bulls...

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 3966.84, high 3975.30, low 3943.46

RSI @ 56.30

CMF @ 0.241

Internals were :

UP volume led by 1.86 to 1 in NYSE & .84 to 1 in Nasdaq

Advancing stocks led by 1.55 to 1 in NYSE & .94 to 1 in Nasdaq

Net new lows were leading by 444 in NYSE & 94 in Nasdaq

VIX UP 1.43% @ 23.36

Oil @ $96.53

Gold @ $1719.10

Canadian $ @ .7151

Portfolio ARKK BTCC HST MGM NCLH PLTR RIOT SOFI UAL

Stocks which were UP 2% or more included HST

CNX SU NTR MOS FSLR CSIQ ENPH SEDG 

JKS LAC CLF PDD JD CVX OXY SLB LNG...

AH Futures Down

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, TAPE closed mixed, DOW & S&P 500 closed near high of the day & in green, Nasdaq was slightly red. Internals were mixed. After hours Walmart guiding lower EPS which put pressure on WMT stock Down around 10%. Tone of the market remained OK so far as we are looking towards next 6 months.

BLOG does NOT give buy or sell.

Saleem

US stock market in ascending pattern.....

 Despite Friday's weakness US stock market remains in uptrend.

Market is in an ascending patter.

Technically we are looking healthy in key indices like DOW, S & P 500,

Nasdaq & Russell 2000

This is a time to build portfolio for a better return 

YES...we will go through periodic pullbacks like Friday to react to gains or market related issues, but trend remains intact.

Wednesday another rate & policy decision will be announced, It  will be same pattern, hawkish & 75 basis hike...

Market may react in advance or after the news, but sooner or later everything will be baked in.

Russia & Ukraine agreed to export of grains, which IS a step in right direction, a huge positive for inflation fighting and world grains stock.

China is slowly coming out of its Covid-19 clampdown, which IS also positive for world trade & supplies plus commercial activities like shipping & Casinos.

YES...all of the issues related to COVID-19 and war impact is well known, adjustments being made worldwide directly or indirectly.

Fight for inflation control is in high gear worldwide, we may be looking @ last 2 major hikes in interest rates, then a pause...

A pause in hikes will be greeted with a huge sigh of relief and a long awaited rally.

Please factor some optimism in your calculation / risk in this market....

Good luck with your own analysis & conclusions.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .43% to 1.87%....

 Indices closed down in a tech laden selloff which engulfed most sectors. Indices closed near low of the day.

S&P 500 @ 3961.63, low 3938.86, high 4012.44

RSI @ 55.91

CMF @ 0.286

Internals were :

Down volume led by 2.84 to 1 in NYSE & 2.57 to 1 in Nasdaq

Declining stocks led by 1.43 to 1 in NYSE & 2.48 to 1 in Nasdaq

Net new lows were leading by 458 in NYSE & 53 in Nasdaq

VIX Down .35% @ 23.03

Oil @ $94.70

Gold @ $1727.40

Canadian $ @ .7137

Stocks which closed green included

IBM PFE CSIQ PLAN KBH DHI

UPS PHM VICR MCD TSLA

SLB TWTR ORCL

Here is my portfolio weighting ;

ARKK        31.83%

MGM         16.73%

UAL          16.07%

HST          12.47% 

PLTR         9.67%

BTCC        5.32%

NCLH       5.30%

RIOT        1.40%

SOFI        1.21%

Next post by 6 PM on Sunday

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .51% to 1.36%...NICE !!!

 Indices closed UP.

S&P 500 @ 3998.95, high 3999.29, low 3927.64

RSI @ 59.51

CMF @ 0.344

Internals were :

UP volume led by 1.58 to 1 in NYSE & 1.74 to 1 in Nasdaq

Advancing stocks led by 1.77 to 1 in NYSE & 1.52 to 1 in Nasdaq

Net new lows were leading by 440 in NYSE & 43 in Nasdaq

VIX Down 3.22% @ 23.11

Oil @ $96.35

Gold @ $1730.40

Canadian $ @ 23.11

Portfolio ARKK BTCC HST MGM NCLH PLTR RIOT SOFI UAL

Stocks which were UP 3% or more included PLTR RIOT

SNAP PYPL X PAAS LAC CLF SHOP DHI ASML

TSLA FFIV NFLX JWN LVS...

AH Futures Down

AH Asian Markets Down

AH Oil & Gold UP

About market, TAPE was bullish again and closed @ high of the day. Internals were mostly positive. Technology was strongest with good earnings from TSLA. AH SNAP spoiled the party by reporting a so so Q and pulling fiscal year guidance, META, GOOG, PINS went down in sympathy.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .15% to 1.58%...NICE !!!!

 Indices closed UP.

S&P 500 @ 3959.90, high 3974.13, low 3932.03

RSI @ 56.80

CMF @ 0.291

Internals were :

UP volume led by 1.59 to 1 in NYSE & 4.51 to 1 in Nasdaq

Advancing stocks led by 1.94 to 1 in NYSE & 2.28 to 1 in Nasdaq

Net new lows were leading by 452 in NYSE & 15 in Nasdaq

VIX Down 2.53% @ 23.88

Oil @ $101.44

Gold @ $1700.20

Canadian $ @ .7122

Portfolio ARKK BTCC HST MGM NCLH PLTR RIOT SOFI UAL

Stocks which were UP 4% or more included ARKK NCLH PLTR SOFI

SOL SNAP AMAT SPWR AFRM LSPD COIN ROKU BMBL RCL

DASH AMD DKNG SNOW DOCU ZI SHOP ESTC UBER DDOG

TWLO META LRCX SPLK NFLX JWN SQ LVS OSTK MSTR..

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE closed UP today again. Most sectors participated in todays UP move. Internals were mostly positive. Closing was particularly impressive and had a bullish tone. Leadership of this market is well defined and should be followed for superior returns.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 2.43% to 3.11%...NICE !!!!

 Indices closed UP

S&P 500 @ 3936.89, high 3939.81, low 3860.73

RSI @ 55.15

CMF @ 0.297

Internals were :

UP volume led by 13.00 to 1 in NYSE & 2.46 to 1 in Nasdaq

Advancing stocks led by 4.88 to 1 in NYSE & 3.40 to 1 in Nasdaq

Net new lows were leading by 450 in NYSE & 57 in Nasdaq

VIX Down 3.16% @  24.50

Oil @ $104.22

Gold @ $1710.70

Canadian $ @ .7108

Portfolio ARKK BTCC HST MGM NCLH PLTR RIOT SOFI UAL

Stocks which were UP 4% or more included 

ARKK HST BTCC RIOT SOFI UAL

APA AMAT NTR MOS AFRM MGA PYPL

LULU CCJ GE SQ COIN X JBLU MRVL WYNN

QCOM SWKS AAL LAC CCL CLF MSTR TER

NKE BA NVDA TWLO LRCX GOOG NFLX OXY

 LNG OSTK....

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE finally showed its bullish pattern in high volume, high positive breadth and crossing above 50 DMA in S&P 500 DOW Nasdaq & Russell 2000, a rarity of all closing above 50 DMA on same day. Looks like another positive close @ hand on Wednesday.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .69% to .84%....

 Indices closed down.

S&P 500 @ 3830.85, low 3818.63, high 3902.44

RSI @ 46.45

CMF @ 0.245

Internals were :

UP volume led by 1.67 to 1 in NYSE & 1.80 to 1 in Nasdaq

Advancing stocks led by 1.20 to 1 in NYSE & .94 to 1 in Nasdaq

Net new lows were leading by 444 in NYSE & 77 in Nasdaq

VIX UP 4.42% @ 25.30

Oil @ $102.60

Gold @ $1710.20

Canadian $ @ .7078

Portfolio ARKK BTCC HST MGM NCLH PLTR RIOT SOFI UAL

Stocks which were UP 2% or more included BTCC NCLH RIOT

APA FSLR CSIQ ENPH SEDG AFRM M X ROKU RCL CCL

CNQ LAC FCX CLF MSTR DASH RUN LYFT UBER GOOS 

SHOP DAL JD JWN OXY SLB....

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE opened strong with Nasdaq trading well above 50 DMA, then AAPL story hit wire that they are curtailing on hiring, fear of recession took hold on Wall Street and indices closed near low of the day, a complete reversal. Internals were mostly positive. 

BLOG does NOT give buy or sell.

Saleem

US stock market trying to get out of trading range....

 US stock market is in the process of making a move higher...

50 DMA is first target for DOW, S&P 500 & Nasdaq

Nasdaq is gain sitting 83 points away from taking out 50 DMA again, that could take a good morning open move...

Nasdaq strength is being noticed by everyone, volatile, BUT in an ascending pattern.

Bear market bottom is extremely painful for every participant, confidence is shattered and we all go totally demoralized in the process, every bear market does this to everyone.

BUT like all market pattern, bear market does end......

Sometimes bottom is tested repeatedly, other times, it is the length of back & fill, time spent in a defined range becomes the signal...we may be witnessing time spent since mid June low...4 to 5 weeks have gone by without going below with one retest which was above low.

Leadership of this market looks like, will be totally different than last 10 years....

Technology will still lead but with different stocks....

Overweight technology should still work...

Diversified into emerging sector in a broad based format

Pay attention to hourly market leaders and closing gains

Also pay attention to emerging technical strength

No matter what RSI strength should be played NOT weak RSI....

Look @ fundamental picture like Earnings & Sales trends

PE matters when stuck in a bear market

Bottom line is, it IS time for homework and due diligence.

Good luck with your own version of home work, as long it works should be fine.

BLOG does NOT give buy or sell

Saleem

Indices closed UP 1.79% to 2.15%...NICE !!!

 Indices closed UP on deeply oversold condition and better retail sales. Banks fared better today.

S&P 500 @ 3863.16, high 3863.62, low 3817.18

RSI @ 49.16

CMF @ 0.247

Internals were :

UP volume led by 8.11 to 1 in NYSE & 3.03 to 1 in Nasdaq

Advancing stocks led by 4.53 to 1 in NYSE & 2.37 to 1 in Nasdaq

Net new lows were leading by 448 in NYSE & 128 in Nasdaq

VIX Down 8.22% @ 24.23

Oil @ $97.59

Gold @ $1703.60

Canadian $ @ .6952

Stocks which were UP 4% or more included NCLH RIOT SOFI

PYPL TECK SQ BYD ROKU RCL TWTR CCL MGNI MSTR

PINS DKNG LYFT PENN DOCU UBER NVAX MRNA 

ASML BYND TWLO META SPLK RIG RH MS.....

Here is my portfolio weighting :

ARKK        31.49%

UAL          17.60%

MGM        16.39%

HST         12.21%

PLTR        9.22%

NCLH      5.41%

BTCC      5.14%

SOFI       1.20%

RIOT      1.14%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 3790.38, low 3721.56, high 3796.41

RSI @ 42.13

CMF @ 0.209

Internals were :

Down volume led by 5.38 to 1 in NYSE & 1.00  to 1 in Nasdaq

Declining stocks led by 3.11 to 1 in NYSE & 2.12 to 1 in Nasdaq

Net new lows were leading by 448 in NYSE & 425 in Nasdaq

VIX Down 1.57% @ 26.40

Oil @ $95.78

Gold @ $1705.80

Canadian $ @ .6896

Portfolio ARKK BTCC HST MGM NCLH PLTR RIOT SOFI UAL

Stocks which were UP 1% or more included BTCC RIOT

AMAT FSLR AFRM CCJ TSM AAPL MRVL QCOM

MSTR AMD IBM INTC NXPI ENPH TER BA LNG

LRCX LVS BROS SWKS....

AH Futures UP

AH Asian Markets Down

AH Oil & Gold UP

About market, TAPE closed mixed as Nasdaq finished green. Internals were negative. Gold lost more ground. Semiconductors stocks were strong. Crypto started breathing again. Banks are under pressure as earnings were below expectations so far.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .15% to .67%....

 Indices closed down.

S&P 500 @ 3801.78, low 3759.07, high 3829.44

RSI @ 42.99

CMF @ 0.161

Internals were :

Down volume led by 1.25 to 1 in NYSE & .78 to 1 in Nasdaq

Declining stocks led by 1.36 to 1 in NYSE & 1.07 to 1 in Nasdaq

Net new lows were leading by 437 in NYSE & 275 in Nasdaq

VIX down 1.72% @ 26.82

Oil @ $96.30

Gold @ $1735.50

Canadian $ @ .7038

Portfolio ARKK BTCC HST MGM NCLH PLTR RIOT SOFI UAL

Stocks which were UP 1% or more included BTCC RIOT

CNX XPEV NTR MOS FSLR NIO AG TECK X TSM

MRVL TWTR QCOM SWKS NXPI PAAS LAC CLF 

BIDU JD AMD SNOW CIEN ESTC ENPH SEDG

NKE ASML TWLO TSLA AEM LRCX AMZN

NFLX ULTA CMG MSTR....

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE closed lower due to higher than expected CPI inflation. From tomorrow it is all about Banks guidance starting before bell, expect no bullish news on that front. Bear market goes in rotation in different sectors it is XLF time now. Semiconductor stocks and select Solar stocks were the stars of the day.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .62% to .95%...

 Indices closed down.

S&P 500 @ 3818.80. low 3802.36, high 3873.41

RSI @ 44.25

CMF @ 0.107

Internals were :

Down volume led by 1.60 to 1 in NYSE & .92 to 1 in Nasdaq

Declining stocks led by 1.37 to 1 in NYSE & 1.18 to 1 in Nasdaq

Net new lows were leading by 444 in NYSE & 183 in Nasdaq

VIX UP 4.28% @ 27.29

Oil @ $95.84

Gold @ $1724.80

Canadian $ @ .6991

Portfolio ARKK BTCC HST MGM NCLH PLTR RIOT SOFI UAL

Stocks which were UP 1% or more included

ARKK HST MGM NCLH UAL

NIO AFRM PYPL SQ MGA MU

BYD JBLU ROKU RCL WYNN

LVS DKNG SWKS CCL MGNI

LYFT UBER PENN GOOS DAL

PDD BA BYND JWN AAL TWTR

RH....

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE closed lower after being UP earlier. Internals were weak. It is all about CPI numbers @ 830AM, even IF its worse than expected, there may be a silver lining which will get the focus, worse of inflation is behind us and a rally may take hold.

BLOG does NOT give buy or hold.

Saleem

Indices closed down .52% to 2.26%....

 Indices closed down.

S&P 500 @ 3854.43, low 3847.22, high 3880.94

RSI @ 46.93

CMF @ 0.081

Internals were :

Down volume led by 4.60 to 1 in NYSE & 2.25 to 1 in Nasdaq

Declining stocks led by 2.41 to 1 in NYSE & 2.81 to 1 in Nasdaq

Net new lows were leading by 440 in NYSE & 153 in Nasdaq

VIX UP 6.21% @ 26.17

Oil @ $104.09

Gold @ $1731.70

Canadian $ @ .7016

Portfolio ARKK BTCC HST MGM NCLH PLTR RIOT SOFI UAL

Stocks which closed green included

IBM PLAN CNX MA V

ORCL MCD ULTA....

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE was under selling pressure from open to close. Indices closed near low of the day. Internals were negative. Losses were steep in most stocks. Chinese regulatory environment is getting stricter and close monitoring of Chinese companies data. Covid-19 outbreak and closing for 1 week of Macau played into negativity.

BLOG does NOT give buy or sell.

Saleem

US stock market looking better......

 US stock market has been subjected to many many challenges in terms of northbound moves for 18 months...

After 6 months of downward sloping action, there are signs of hope.

Major indices are showing sign of stabilizing in a much more defined way.

All major indices are heading towards 50 DMA

Nasdaq is best positioned to take out 50 DMA on Monday @ open....something we could not have imagined when we were trying understand world issues impacting equities.....NOW WE CAN...

IF Nasdaq takes out 50 DMA as expected and close above, we are going to see a major UP move in Technology.

Oil is pulling back..

Gold has pulled back

Bitcoin has crashed

Commodities are in deep slump

All of these southbound action is telling us that discounting in all arena are just about over and may be we are looking @ STABILITY

I do not recall ever that we faces so many challenges all @ once from Covid-19 to War in Ukraine with runaway inflation and rising interest rate " talk of QUAD hammering "

BUT...it seems we have just about discounted everything by now and know the extent of all adjustment....

Stock market looks 6 months ahead.....2023 looking very promising.....

2023 cost will be known and companies will know how to price them in new reality...

Technology may rule again based on relative strength

Solar stocks are becoming leading indicator of a major shift in focus

SO...start putting your investing / trading hat on..as good times may be here for a long while.

Here is my portfolio weighting :

ARKK       32.75%

UAL         16.39%

MGM       16.11%

HST         11.94%

PLTR      10.15%

BTCC        5.20%

NCLH       5.18%

SOFI        1.18%

RIOT       1.10%

There was a major outage on Friday of internet for 23 hours straight for Rogers Communications customers ( RCI trades in Toronto & NYSE)..was totally out of contact with entire world as I am 100% WIFI based.

BLOG does NOT give buy or sell

Saleem

Indices closed UP 1.12% to 2.28%...NICE !!!

 Indices closed UP.

S&P 500 @ 3902.62, high 3910.63, low 3858.85

RSI @ 50.76

CMF @ 0.029

Internals were :

UP volume led by 7.67 to 1 in NYSE & 4.96 to 1 in Nasdaq

Advancing stocks led by 3.51 to 1 in NYSE & 3.04 to 1 in Nasdaq

Net new lows were leading by 450 in NYSE & 89 in Nasdaq

VIX Down 2.43% @ 26.08

Oil @ $102.73

Gold @ $1739.70

Canadian $ @ .7010

Portfolio ARKK BTCC JKS MGM NCLH PLTR RIOT SOFI UAL

Stocks which were UP 6% or more included ARKK BTCC RIOT SOFI

SOL FSLR SPWE ENPH SEDG CSIQ JKS NIO AFRM MGA COIN

TSM MRVL ARKG LAC CCL FCX CCJ MSTR OSTK DASH

SHOP NVAX MRNA SPLK LNG ....

AH Futures Down

AH Asian Markets UP

AH Oil & Gold UP

About market, TAPE was in a bull mode for a change, most sectors participated in today's UP move. Indices closed near high of the day with Internals being strong. Please pay attention to my 6%++ list of stocks, you will note none of the high fliers from last 5 years made the list so called FANG have become out of focus for new & fast money.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .23% to .36%...NICE !!!

 Indices closed UP.

S&P 500 @ 3845.08, high 3870.91, low 3809.37

RSI @ 46.21

CMF @ 0.038

Internals were :

Down volume led by 2.28 to 1 in NYSE & .73 to 1 in Nasdaq

Declining stocks led by 1.52 to 1 in NYSE & 1.36 to 1 in Nasdaq

Net new lows were leading by 454 in NYSE & 181 in Nasdaq

VIX Down 2.94$ @ 26.73

Oil @ $98.53

Gold @ $1736.50

Canadian $ @ .6743

Portfolio ARKK BTCC HST MGM NCLH PLTR RIOT SOFI UAL

Stocks which were UP 1% or more included SOFI

AFRM HOOD MU BMBL

MRVL QRVO SWKS PFE

MSFT ENPH TER BYND

NVDA GOOG BROS....

AH Futures UP

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, TAPE closed UP for a change but internals were weak. Market needs a major catalyst which is still missing, while it waits, it is going to be lackluster performance. Market remains tough to navigate for most participants, just show patience and conviction.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 3831.38, high 3832.19, low 3742.06

RSI @ 45.09

CMF @ 0.009

Internals were :

UP volume led by .57 to 1 in NYSE & 2.33 to 1 in Nasdaq

Advancing stocks led by .75 to 1 in NYSE & 1.37 to 1 in Nasdaq

Net new lows were leading by 457 in NYSE & 455 in Nasdaq

VIX UP 0.04% @ 27.54

Oil @ $99.50

Gold @ $1763.90

Canadian $ @ .6932

Portfolio ARKK BTCC HST MGM NCLH PLTR RIOT SOFI UAL

Stocks which were UP 7% or more included

ARKK NCLH PLTR RIOT SOFI

SNAP LULU COIN ROKU BMBL

ARKG MSTR DASH PINS DKNG

SNOW ZI SHOP ZM DDOG RH

NVAX OSTK....

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE was under selling pressure @ open due to oil being higher but oil tanked and Nasdaq took off. Internals were neutral while  VIX was higher. Technology & reopen stocks were strong and Cathie Wood funds were the superstars.

BLOG does NOT give buy or sell.

Saleem

US market remains in bear mode.....

 US market has displayed bearish trend since start of 2022, It has been on a downhill course.

In order to even understand this market one has to look @ every sector / Indices

Here is my stock market 101 which is RSI picture, here it is :

TAN             52.22

DOW           46.09

IWM            44.63

S&P 500      44.62

Nasdaq        44.22

XLF            43.80

JETS          40.14

XLE           39.40

GLD          39.03

XLB          35.73

SOX          32.74

As one can clearly see not a single sector looks technically healthy which is a read of minimum 60.

Worst sector is SOX with 32.74 RSI reading which is " alarming for technology stocks "

There is only one sector which is above 50 DMA which is TAN

XLE is the only sector which is above 200 DMA...

By default TAN is the healthiest just based on RSI score.....

After 6 months of INTENSE selling, picture has gotten worse as SOX has gone into major selling, most stocks in SOX are hitting new 52 week low...very weak picture.....

TAPE has the hallmark of making new lows in major averages....

There is " NO LEADERSHIP " in this TAPE yet.....

Next quarter is shaping to be the weakest from earnings point of view as warnings are coming daily from even previously warned companies.....

Q4 may be the only hope as by then every analyst will make the necessary cut in EPS & Sales to reflect slumping economic scenario.....

War in Ukraine keeps going

Inflation keeps ramping

Costs of doing business keeps rising

Interest rates are flying higher & higher

COVID variations keeps growing

We need couple of the above negatives to show subsiding, then there is hope that US stock market may turn from bearish to an improving mode.

Until then, we all hope our surviving strategy works in US stock market.

Good luck with your own analysis and understanding of current economic environment and your own comfort level.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .90% to 1.06%...NICE !!!

 Indices closed UP near high of the day capping a very negative week on a happy note. Internals were positive. Gold seems to be weakening closing barely above $1800. Next week is a 4 day week which may be lower in volume due to holiday coordination.

S&P 500 @ 3825.33, high 3829.82, low 3762.10

RSI @ 44.62

CMF @ -0.059

Internals were :

UP volume led by 3.39 to 1 in NYSE & 2.77 to 1 in Nasdaq

Advancing stocks led by 2.77 to 1 in NYSE & 1.58 to 1 in Nasdaq

Net new lows were leading by 455 in NYSE & 300 in Nasdaq

VIX Down 7.00% @ 26.70

Oil @ $108.40

GOLD @ $1801.50

Canadian $ @ .7127

Stocks which were UP 3% or more included ARKK MGM

AG CCJ SQ COIN TRIP BMBL ARKG  AAL AI DASH

PINS RUN SNOW PENN LVS DOCU TOL KBH DHI

PHM CRWD ESTC UBER DDOG PDD NVAX MRNA

AEM AMZN SPLK OSTK.....

Here is my portfolio weighting :

ARKK       30.59%

MGM       17.49%

UAL         17.39%

HST        12.49%

PLTR        9.83%

NCLH      5.41%

BTCC      4.79%

SOFI      1.1%

RIOT      .91%

Next post on Monday by 6 PM.

BLOG does NOT give buy or sell.

Enjoy your long weekend !

Saleem