Indices closed down 1.51% to 1.71%....

 Indices closed down @ low of the day @ the end of a bad day, bad week, bad month and bad quarter. September was the worse month since 2002.

S&P 500 @ 3585.62, low 3584.13, high 3671.44

RSI @ 28.47

CMF @ -0.040

Internals were :

Down volume led by 1.44 to 1 in NYSE & 2.37 to 1 in Nasdaq

Declining stocks led by 1.45 to 1 in NYSE & 1.38 to 1 in Nasdaq

Net new lows were leading by 795 in NYSE & 515 in Nasdaq

VIX Down .69% @ 31.62

Oil @ $79.49

Gold @ $1672.00

Canadian $ @ .6216

Stocks which closed green included PLTR SOL SOFI

JKS FSLR SPWR SHOP TJX HOOD AG COIN 

TWTR PAAS GOLD AEM DDOG BABA 

PDD MSTR PENN .....

Here is my portfolio weighting :

ARKK          30.88%

MGM         19.11%

UAL           17.11%

LSPD        11.30%

PLTR          9.50%

SOFI          6.28%

SOL           4.42%

XPEV       1.40%

Next post by 6 PM on Sunday

BLOG does NOT give buy or sell.

Saleem

Indices closed down 1.54% to 2.84%....

 Indices closed down.

S&P 500 @ 3640.47, low 3610.40, high 3687.01

RSI @ 30.97

CMF @ 0.068

Internals were :

Down volume led by 6.54 to 1 in NYSE & 5.29 to 1 in Nasdaq

Declining stocks led by 5.02 to 1 in NYSE & 3.07 to 1 in Nasdaq

Net new lows were leading by 1177 in NYSE & 741 in Nasdaq

VIX UP 5.50% @ 31.84

Oil @ $81.23

Gold @ $1668.60

Canadian $ @ .6216

Portfolio ARKK LSPD PLTR MGM SOL SOFI UAL XPEV

Stocks which closed green included PLTR

APA TECK FCX PAAS AEM GOLD

CNQ OXY SLB LNG V....

AH Futures Down

AH Asian Markets Down

AH Oil Down

AH Gold UP

About market, TAPE was weak again and closed lower. Yield was UP again and hawkish statement by Fed official put the fear of " pain " back in the psyche of traders / Investors. Internals were weak. Very few stocks made it in the green by close.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 1.88% to 2.05%...NICE !!!

 Indices closed UP.

S&P 500 @ 3719.04, high 3736.74, low 3640.61

RSI @ 35.01

CMF @ 0.027

Internals were :

UP volume led by 10.96 to 1 in NYSE & 5.82 to 1 in Nasdaq

Advancing stocks led by 5.82 to 1 in NYSE & 3.66 to 1 in Nasdaq

Net new lows were leading by 433 in NYSE & 333 in Nasdaq

VIX Down 7.42% @ 30.18

Oil @ $82.15

Gold @ $1670.00

Canadian $ @ .6346

Portfolio ARKK LSPD PLTR MGM SOL SOFI UAL XPEV

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

NCLH SHOP RIOT HST CNX APA PYPL TECK SQ M BMBL

PAAS LAC MGNI MSTR PINS GOLD PENN NEM AEM

DOCU ZI TOL KBH DHI PHM ESTC BA BYND TWLO

META BABA NFLX OXY DLB LNG RH BROS ...

AH Futures Down

AH Asian Markets UP

AH Oil & Gold Down

About market, TAPE started red but as yields went down Indices kept going UP closing near high of the day. Internals were strong. Most sectors participated in today's rally which saw high single digit gains. Sentiment improved substantially for traders & Investors while bears were nowhere to be seen. Most technicians are predicting max 5% rally from lows.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 3647.29, low 3623.28, high 3717.53

RSI @ 26.86

CMF @ -0.024

Internals were :

UP volume led by .96 to 1 in NYSE & 1.51 to 1 in Nasdaq

Advancing stocks led by .80 to 1 in NYSE & 1.03 to 1 in Nasdaq

Net new lows were leading by 1475 in NYSE & 859 in Nasdaq

VIX UP 1.05% @ 32.60

Oil @ $78.50

Gold @ $1636.20

Canadian $ @ .6256

Portfolio ARKK LSPD PLTR MGM SOL SOFI UAL XPEV

Stocks which were UP 2% + ARKK LSPD SOL UAL

NCLH CNX APA SNAP RUN CCL RCL NTR MOS

FSLR CSIQ HOOD MU CCJ M X JBLU BMBL CLF 

MSTR DKNG LYFT ZI CRWD ESTC NVAX EAT

MRNA TSLA EXPE LNG YELP RH GOOS....

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE tried to rally again on extremely oversold conditions but bears still prevailed except for Nasdaq which closed green after a major fight. All day Transport gave a clear " contrary signal " that all is not bad and they were not confirming DOW theory today. Internals were mixed. Many sectors showed green by close, a good sign for bulls.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .60% to 1.11%.....

 Indices closed down.

S&P 500 @ 3655.04, low 3644.76, high 3715.67

RSI @ 27.20

CMF @ -0.015

Internals were :

Down volume led by 6.48 to 1 in NYSE & 2.50 to 1 in Nasdaq

Declining stocks led by 5.35 to 1 in NYSE & 2.31 to 1 in Nasdaq

Net new lows were leading by 1760 in NYSE & 961 in Nasdaq

VIX UP 7.82% @ 32.36

Oil @ $76.71

Gold @ $1633.40

Canadian $ @ .6252

Portfolio ARKK LSPD PLTR MGM SOL SOFI UAL XPEV

Stocks which closed green included PLTRXPEV

RIOT MGA LULU COIN AAPL WYNN

MSTR BIDU PINS PANW PDD 

JD TWLO TSLA AMZN LVS...

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE was green @ open then higher yield threw cold water on this rally, Indices closed near low of the day. EV & Crypto related stocks did OK. Internals were very weak. VIX Spiked UP near 52 wk high. Hopefully " turnaround Tuesday " really turns it around.

BLOG does NOT give buy or sell.

Saleem

US stock market to stage deeply oversold bounce....

 US stock market is in deepest technical trouble since 2008.

US stocks are making new lows in many many sectors, some are making 2 year lows 

We have come down fast in a hurry taking out key technical levels since Wednesday's Fed meeting.

YES we are deeply oversold....

YES we are ready for a bounce.....

How long this deeply oversold bounce will last, based on technical weakness, we may make lower highs and then lower lows.

The bigger question IS, IF we are heading to new lows, then 2000+ is next support.....

This may take few months like end of this year....

Based on technical picture, every trader and investor has to factor this new lows scenario.

Portfolio needs to be based on conviction and then show patience, it may be a very long haul before you see green in your portfolio.

A broad based portfolio with exposure to many sectors should workout, no more hoping for a or many homeruns....

Based on RSI read as of Friday's close :

DOW               27.39

S&P 500         28.90

Russell 2000  28.91

XLB               29.21

Nasdaq          29.90

JETS             29.90

GLD              30.29

SOX              30.60

TAN              32.12

XLE             32.13

Based on above read, you can quickly see that in my universe of sectors strongest read is 32.13 which is XLE.

Four sectors have violated June lows.....

DOW is @ below support and @ lower low...

SOX @ new low

XLB @ new low

JETS @ new low

GLD @ new low

All sectors are below both 50 & 200 DMA.....something rarely seen in markets...

Understanding the under pinning is extremely important.

Investment & trading expectation needs to be realistic

Being prepared for worst scenario can be a good strategy, it definitely will bring your expectations way down which may be good for stress management......

Good luck with your own understanding of this market.

BLOG does NOT give buy or sell.

Saleem

Indices closed down 1.62% to 1.80%...

 Indices closed down on " pain jitters ". Every sector was in deep trouble violating key support. Internals were extremely negative worst in decade.

S&P 500 @ 3693.23, low 3647.47, high 3727.14

RSI @ 28.90

CMF @ -0.020

Internals were :

Down volume led by 9.68 to 1 in NYSE & 2.74 to 1 in Nasdaq

Declining stocks led by 7.89 to 1 in NYSE & 3.94 to 1 in Nasdaq

Net new 52 wk lows were leading by 1739 in NYSE & 1207 in Nasdaq

VIX UP 9.40% @ 29.92...high today 32.31, 52 wk high 38.94

Oil @ $78.74

Gold @ $1655.60

Canadian $ @ .6417

Stocks which closed green included PLTR

SHOP MU SQ TWTR QRVO SNOW

TOL KBH DHI PHM BYND LVS...

Here is my portfolio weighting :

ARKK       30.94%

MGM       19.31%

UAL         17.39%

LSPD      10.81%

PLTR         8.65%

SOFI         6.82%

SOL          4.48%

XPEV      1.60%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .35% to 1.37%....

 Indices closed down.

S&P 500 @ 3757.99, low 3749.45, high 3790.90

RSI @ 32.06

CMF @ 0.008

Internals were :

Down volume led by 3.69 to 1 in NYSE & 2.61 to 1 in Nasdaq

Declining stocks led by 4.90 to 1 in NYSE & 3.78 to 1 in Nasdaq

Net new lows were leading by 1100 in NYSE & 906 in Nasdaq

VIX Down 2.29% @ 27.35

Oil @ $83.49

Gold @ $1681.10

Canadian $ @ ,6497

Portfolio ARKK LSPD PLTR MGM SOL SOFI UAL XPEV

Stocks which closed green included

NIO GE TECK FCX CRM RCL TWTR

IBM PFE MSFT NEM CIEN PDD

META GOOG NFLX SLB LNG...

AH Futures UP

AH Asian markets Mixed

AH Oil & Gold UP

About market, TAPE was under selling pressure again despite deeply oversold conditions. Interest rate jitters keep affecting investors psyche. Patience & conviction is the key to ride out this storm. Internals were negative. VIX was down today which confirms oversold status of this market.

BLOG does NOT give buy or sell.

Saleem

Indices closed down 1.70% to 1.79%....

 Indices closed down.

S&P 500 @ 3789.93, low 3789.49, high 3907.07

RSI @ 33.74

CMF @ 0.044

Internals were :

Down volume led by 6.06 to 1 in NYSE & 2.89 to 1 in Nasdaq

Declining stocks led by 2.41 to 1 in NYSE & 2.45 to 1 in Nasdaq

Net new lows were leading by 588 in NYSE & 587 in Nasdaq

VIX UP 3.06% @ 27.99

Oil @ $82.94

Gold @ $1675.70

Canadian $ @ .6599

Portfolio ARKK LSPD PLTR MGM SOL SOFI UAL XPEV

Stocks which closed UP included LSPD PLTR SOL 

RIOT JKS MRVL FSLR CSIQ GOLD ZI CIEN

DDOG EAT ELF TER NVDA JWN RH....

AH Futures Down

AH Asian Markets Down

AH Oil & Gold Down

About market, TAPE was under selling pressure in reaction to Fed's hawkish press conference after raising interest rate by 75 basis. Market closed @ low of the day. Lot of questions were raised after listening to Fed policy & Q&A, most decided to sell and call it a day. Surprisingly VIX remained calm gained only 3.06% which may give hope to die hard bulls.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .95% to 1.13%.....

 Indices closed down.

S&P 500 @ 3855.93, low 3827.54, high 3867.01

RSI @ 37.53

CMF @ 0.069

Internals were :

Down volume led by 8.39 to 1 in NYSE & 2.89 to 1 in Nasdaq

Declining stocks led by 5.26 to 1 in NYSE & 2.66 to 1 in Nasdaq

New new lows were leading by 625 in NYSE & 528 in Nasdaq

VIX UP 5.43% @ 27.16

Oil @ $83.94

Gold @ $1671.10

Canadian $ @ .6656

Portfolio ARKK LSPD PLTR MGM SOL SOFI UAL XPEV

Stocks which closed green included MGM XPEV

CCJ TRIP WYNN LYFT PDD MRNA 

BA OLED LVS SU AAPL TWTR....

AH futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE was under selling pressure but managed to close above low of the day. Selling was prompted by fear of how much Fed will raise Fed funds rates, consensus is 75 basis with similar hawkish language. Hoping for a relief rally after announcement as we are deeply oversold.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .64% to .76%...NICE !!!

 Indices closed UP.

S&P 500 @ 3899.89, high 3900.45, low 3838.50

RSI @ 40.33

CMF @ 0.028

Internals were :

UP volume led by 2.74 to 1 in NYSE & 1.30 to 1 in Nasdaq

Advancing stocks led by 1.38 to 1 in NYSE & .86 to 1 in Nasdaq

Net new lows were leading by 386 in NYSE & 448 in Nasdaq

VIX Down 2.05% @ 25.76

Oil @ $85.73

Gold @ $1678.30

Canadian $ @ .6711

Portfolio ARKK LSPD PLTR MGM SOL SOLF UAL XPEV

Stocks which were UP 25 or more included MGM SOL UAL XPEV

SHOP NTR MOS SPWR NIO TECK ROKU PAAS AAL DAL LAC 

FCX PINS PENN DDOG JD NKE TWLO JWN RH BROS.....

AH Futures UP

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, TAPE was surprisingly strong IF you were listening to chartist who were predicting way way down but we closed @ high of the day. Internals were mostly positive. Many sectors participated in today's rally, solar stocks were strong as usual. IF we get confirmation on Tuesday by UP close, watch out ABOVE.

BLOG does NOT give buy or sell.

Saleem

US stock market breaking down....

 US stock market is facing many technical challenges.

We are seeing high volume selling as yields spike up.

Fed is all set to raise Fed funds rate by 75 basis again which will hit consumers hard

Consumers are getting killed with highest inflation in many decades

Fed does not see that with next hike on Wednesday, mortgage rates will go to highest level in decade

Fed is very concerned about not losing control than dealing gradually step by step and waiting for normal reset, they are into forced and painful reset in a hurry...which may backfire big time.....

Technicians are having field day with Fed / yield driven selling and have sharpened their technical skill and predicting 2200 in S&P 500......

YES...anything is possible BUT It Is not going to happen in a straight line as herd behavior may lead everyone to expect disaster in next 48 hours...

Current negativity is a great test of conviction, patience & strategy.

I suggest first, to stay put....

Second, make minor / major changes in your portfolio mix

Third, do dollar cost averaging, a winning formula in a bear market.

Technical reading of current market is as follows based on RSI:        

DOW             35.69

S&P 500        37.72

Nasdaq          37.91

SOX              38.19

Russell 2000 39.94

XLE              47.65

TAN              50.38

Based on the above, there is a need to have exposure in 2 relative strength story of Energy & Solar stocks.

Solar has seen strong uptrend with many stocks breaking out to series of new 52 week highs.

YES ...It has been tough 18 months for many portfolio, technology in particular after rising to neverland has fallen deep into a hole.....a favorite of many and overweight for most...which must be rectified to no more than market weight preferably underweight.

Good luck with your own take of technical condition and your comfort level, It may get painful before it turns.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .45% to .90%...

 Indices closed down but closed near high of the day. Reaction to Fedex guide down raised many questions about current state of US economy.

S&P 500 @ 3873.33, low 3837.08, high 38880.95

RSI @ 37.72

CMF @ -0.045

Internals were :

Down volume led by 3.89 to 1 in NYSE & 3.47 to 1 in Nasdaq

Declining stocks led by 3.04 to 1 in NYSE & 2.24 to 1 in Nasdaq

Ne new lows were leading by 511 in NYSE & 452 in Nasdaq

VIX UP 0.11% @ 26.30, high today 28.45

Oil @ $85.11

Gold @ $1683.50

Canadian $ @ .6725

Stocks which closed green included FSLR SPWR ENPH

MU M WYNN QRVO PAAS IBM PFE MRNA GOLD 

AEM NEM INTC NXPI TOL KBH PHM DHI PHM

ASML NVDA MCD NFLX JWN....

Here is my portfolio weighting :

ARKK        31.23%

MGM        19.23%

UAL          17.67%

LSPD       10.56%

PLTR         8.15%

SOFI         6.97%

SOL          4.65%

XPEV       1.54%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .56% to 1.43%....

 Indices closed down.

S&P 500 @ 3901.35, low 3888.28, high 3958.14

RSI @ 38.41

CMF @ -0.097

Internals were :

Down volume led by 2.05 to 1 in NYSE & 1.49 to 1 in Nasdaq

Declining stocks led by 2.79 to 1 in NYSE & 1.35 to 1 in Nasdaq

Net new lows were leading by 257 in NYSE & 242 in Nasdaq

VIX UP .42% @ 26.27

Oil @ $85.10

Gold @ $1677.30

Canadian $ @ .6793

Portfolio ARKK LSPD PLTR MGM SOL SOFI UAL XPEV

Stocks which were UP 2% or more included ARKK PLTR SOFI

NCLH SNAP CCL RCL HOOD ROKU WYNN

LVS PINS DKNG NFLX JWN....

AH Futures Down

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE tried to show green but it failed in its attempt for green and closed near low of the day. After hours we got more disappointing guidance from FDX & GE which took futures down in triple digits. Tomorrow could be another opportune time to do some buying or switching stocks to better relative value.

BLOG does NOT give buy or sell

Saleem

Indices closed UP .10% to .74%...NICE !!!

 Indices closed UP.

S&P 500 @ 3946.01, high 3961.04, low 3912.18

RSI @ 42.20

CMF @ -0.068

Internals were :

UP volume led by 1.06 to 1 in NYSE & 1.73 to 1 in Nasdaq

Advancing stocks led by 1.05 to 1 in NYSE & .94 to 1 in Nasdaq

Net new lows were leading by 203 in NYSE & 229 in Nasdaq

VIX Down 4.07% @ 26.16

Oil @ $88.48

Gold @ $1709.10

Canadian $ @ .6840

Portfolio ARKK LSPD PLTR MGM SOL SOLF UAL XPEV

Stocks which closed UP 2% or more included

ARKK LSPD PLTR SOL SOFI 

NCLH SHOP APA CVX OXY SLB

LNG CCL HOOD COIN RCL AAL 

DASH SNOW NXPI DAL ESTC UBER

PDD SEDG TWLO TSLA NFLX SPWR

RUN SWKS.....

AH Futures UP

AH Asian Markets UP

AH Oil UP 

AH Gold Down

About market, TAPE was higher @ close despite all the gloom & doom. Internals were mostly positive. Most sector participated in today's rally but Solar kept running away towards new highs. Airlines & Cruise lines were in vogue. Expect a good day on Thursday.

BLOG does NOT give buy or sell.

Saleem

Indices closed down 3.94% to 5.16%...

 Indices closed down.

S&P 500 @ 3932.69, low 3921.28, high 4037.12

RSI @ 41.05

CMF @ -0.082

Internals were :

Down volume led by 18.91 to 1 in NYSE & 3.56 to 1 in Nasdaq

Declining stocks led by 7.76 to 1 in NYSE & 3.64 to 1 in Nasdaq

Net new lows were leading by 158 in NYSE & 171 in Nasdaq

VIX UP 14.24% @ 27.27

Oil @ $87.31

Gold @ $1717.40

Canadian $ @ .6871

Portfolio ARKK LSPD PLTR MGM SOL SOFI UAL XPEV

Stocks which closed green included SOL

JKS MOS NIO TWTR CSIQ LNG SLI...

AH Futures Down

AH Asian Markets Mixed

AH Oil UP 

AH Gold Down

About market, TAPE was strong pre=market, then @ 830 AM came CPI report which was hotter than expected, futures went tumbling down straight until close. Internals were negative. Solar stocks plus few others mustered a green close. Hoping there is no confirmation of this negativity as there was too much pessimism today.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .71% to 1.27%...NICE !!!

 Indices closed UP.

S&P 500 @ 4110.41, high 4118.28, low 4083.87

RSI @ 54.58

CMF @ 0.002

Internals were :

UP volume led by 6.05 to 1 in NYSE & 2.64 to 1 in Nasdaq

Advancing stocks led by 3.37 to 1 in NYSE & 1.78 to 1 in Nasdaq

Net new lows were leading by 17 in NYSE & 39 in Nasdaq

VIX UP 4.74% @ 23.87

Oil @ $87.78

Gold @ $1740.60

Canadian $ @ .7021

Portfolio ARKK LSPD PLTR MGM SOL SOFI UAL XPEV

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

RIOT APA NIO AG AAPL PAAS DKNG SNOW GOOS DDOG 

BYND TWLO SPLK OSTK AMZN....

AH Futures UP

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE continued on its normal rhythm of a bull mode ignoring CPI data which should be bull friendly. Internals were mostly positive. There is a huge rotation going on from day to day, no absolute winners except Solar which keeps chugging along.

BLOG does NOT give buy or sell.

Saleem

US stock market above 50 DMA.....

 US stock market has come a long way since testing lows and support area only 4 days ago, we made higher lows and moved UP from there 3 days in a row.

VIX has responded accordingly and is sitting @ 22.79

All major US indices are above 50 DMA after dipping well below....

Last 3 days have seen a sharp upturn in indices and many stocks

It is always wise to stay in market than try to time it

Many traders / investors try to overthink stock market movement and its hysteria which is @ peak near top / bottom

Nobody can predict stock market and its movement on a daily basis or even quarterly basis, interestingly, it is of no consequence IF you are in the market long term say 5 years or longer.

Statistics about markets have been proven that it IS the-best investment compared to any other type short of homes in high demand areas like SFO, NYC DC Toronto Sydney London Hong Kong Singapore etc......

SO stay put in markets with a long term strategy and keep adjusting as we go along based on fundamentals or technicals....

It IS important to see relative performance of your portfolio vs index vs stocks in same industry, there is such a thing of " outperformance "...ensure your stock is that stock which IS beating peers and averages.

Passive investment is OK, BUT staying with DOGS is not......

As we are trying to build momentum in this TAPE make necessary adjustment to beat averages

Good luck with your own strategy & comfort level.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 1.19% to 2.11%...NICE !!!

 Indices closed near high of the day. 3 day of strong UP move is a great display of strength from Jackson Hole. Internals were strong. Most sectors participated in this rally.

S&P 500 @ 4067.36, high 4076.81, low 4022.94

RSI @ 50.94

CMF @ 0.020

Internals were :

UP volume led by 10.29 to 1 in NYSE & 3.50 to 1 in Nasdaq

Advancing stocks led by 5.14 to 1 in NYSE & 2.57 to 1 in Nasdaq

Net new lows were leading by 24 in NYSE & 49 in Nasdaq

VIX Down 3.47% @ 22.79

Oil @ $86.79

Gold 2 $1728.60

Canadian $ @ .6960

Stocks which were UP 4% or more included ARKK LSPD SOL

SHOP RIOT NTR NIO AFRM HOOD SQ COIN BMBL RCL

FCX CLF MSTR DASH PINS LYFT GOOS DOCU ZI 

MTCH CRWD ESTC NVAX EAT META SPLK RH 

OSTK....

Here is my portfolio weighting :

ARKK        31.31%

MGM        19.34%

UAL          17.72%

LSPD        11.09%

PLTR          7.81%

SOFI          6.98%

SOL           4.14%

XPEV       1.61%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .60% to .66%...NICE !!!

 Indices closed UP.

S&P 500 @ 4006.18, high 4010.50, low 3844.81

RSI @ 45.14

CMF @ -0.055

Internals were :

UP volume led by 2.23 to 1 in NYSE & 1.86 to 1 in Nasdaq

Advancing stocks led by 1.34 to 1 in NYSE & 1.45 to 1 in Nasdaq

Net new lows were leading by 126 in NYSE & 165 in Nasdaq

VIX Down 4.18% @ 23.61

Oil @ $83.54

Gold @ $1720.20

Canadian $ @ .6875

Portfolio ARKK LSPD PLTR MGM SOL SOFI UAL XPEV

Stocks which were UP 3% included LSPD SOFI

SHOP RIOT SNAP COIN X ROKU RCL FCX

MSTR RUN AMD DKNG LYFT DOCU EAT

MRNA LAC JWN SLB SQ LVS OSTK....

AH Futures UP

AH Asian Markets UP

AH Oil UP

AH Gold Down

About market, TAPE was strong and closed @ high of the day despite tough remarks on interest rates by Fed Chief. Internals were mostly positive. Today we confirmed this uptrend and may hay have staying power the way we closed @ high of the day.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 1.40% to 3.14%...NICE !!!

 Indices closed UP.

S&P 500 @ 3979.87, high 3987.88, low 3908.03

RSI @ 42.42

CMF @ -0.051

Internals were :

UP volume led by 4.93 to 1 in NYSE & 4.24 to 1 in Nasdaq

Advancing stocks led by 3.07 to 1 in NYSE & 2.55 to 1 in Nasdaq

Net new lows were leading by 177 in NYSE & 258 in Nasdaq

VIX Down 8.44% @ 24.64

Oil @ $81.94

Gold @ $1727.80

Canadian $ @ .6830

Portfolio ARKK LSPD PLTR MGM SOL SOFI UAL XPEV

Stocks which were UP 3% or more included ARKK SOFI UAL

JKS NCLH RCL SHOP MRVL SNAP FSLR SPWR RUN 

PYPL AG SQ COIN M X BYD JBLU DAL BMBL TWTR

WYNN DKNG PAAS LAC MSTR PINS CSIQ GOOS

MTCH DDOG NVAX NKE TSLA NFLX JWN RH

BROS OSTK ULTA.....

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE closed near high of the day as we were deeply oversold and yields went down, Fed talk was more balanced today. Most sectors participated BUT old leaders were lagging badly. Pay attention to new outperformers which definitely includes Solar stocks / TAN ETF. Do not forget to book profit as we go UP on day 2.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .41% to .74%.....

 Indices closed down

S&P 500 @ 3908.10, low 3886.75, high 3943.55

RSI @ 34.18

CMF @ -0.104

Internals were :

Down volume led by7 2.18 to 1 in NYSE & 1.69 to 1 in Nasdaq

Declining stocks led by 2.46 to 1 in NYSE & 2.10 to 1 in Nasdaq

Net new lows were leading by 306 in NYSE & 364 in Nasdaq

VIX UP 3.54% @ 26.91

Oil @ $86.88

Gold @ $1712.90

Canadian $ @ .6875

Portfolio ARKK LSPD PLTR MGM SOL SOFI UAL XPEV

Stocks which closed 1% or more included SOL UAL 

JKS NCLH RCL FSLR SPWR RUN ENPH SEDG

HOOD LULU TECK X CLF DKNG TSLA LAC

JWN AAL ULTA CMG.....

AH Futures Down

AH Asian Markets Down

AH Oil & Gold Down

About market, TAPE remains firmly in bearish mode, oversold bounce lasted 15 minutes @ open. Internals were weak. Solar stocks are outperforming in a big way TAN may be a good way to participate. There is some pulse in Airlines & Cruise Lines. Looks like lower lows is in the card until firm support is found.

BLOG does NOT give buy or sell.

Saleem

US stock market going through " pain ".....

 Fed wanted to inflict pain on household and businesses by raising rates to unbearable level impacting buying power....

Stock market believed every word uttered by Fed Chief in last Fed statement & Q & A post fed meeting and repeated in Jackson Hole remark...

SO we all are feeling pain through US stock market reaction via slumping indices...

Have we reached maximum pain yet......NOT according to bear market history 

Based on past lows of bear market, we have another 100 points south in S&P 500 ..which is in the range of another slump to 3900 area...

Will we go there is another issue as Fed may react prior to another real pounding of averages...

IF we go down another 20%+++ It may become " unbearable pain " which may not be the objective of Fed policy just normal pain may be enough...

Unbearable pain or normal pain which remains undecided implies booking quick profit on any technical oversold bounce...

Bear markets are extremely painful IF technicals are violated.....

SO be pro-active in your composition of portfolio

Booking singles in profit may work, though it IS hard to come by these days.

We are due for an oversold bounce which may last 1.5 day, so get your sell button ready wherever it may work.

Except for Solar where FSLR, CSIQ are are ready for a breakout.....

Rest of the stocks are in ICU..

SO be very careful with this TAPE...all is NOT well.....

Good luck with your own analysis and comfort level.

BLOG does NOT give buy or sell.

Saleem

Indices closed down 1.07% to 1.31%....

 Indices closed down despite a much desired " not too hot not too cold " jobs report. Indices rallied nicely initially but made a complete reversal on gas shutdown of Germany by Russia. Indices closed near low of the day.

S&P 500 @ 3924.26, low 3906.21, high 4018.43

RSI @ 35.23

CMF @ -0.123

Internals were :

Down volume led by 1.59 to 1 in NYSE & 2.07 to 1 in Nasdaq

Declining stocks led by 1.35 to 1 in NYSE & 1.65 to 1 in Nasdaq

Net new lows were leading by 126 in NYSE & 177 in Nasdaq

VIX Down .35% @ 25.47

Oil @ $86.87

Gold @ $1722.60

Canadian $ @ .6906

Stocks which closed green included MGM UAL

APA SU CNQ CVX SLB LNG NTR MOS

LULU AG CCJ TECK X PAAS CLF 

PENN NEM TD PDD AEM CMG....

Here is my portfolio weighting :

ARKK        31.10%

MGM        19.78%

UAL          17.39%

LSPD        10.69%

PLTR           8.10%

SOFI           6.91%

SOL            4.19%

XPEV         1.84%

Next post by 6 PM on Monday....US & Canadian markets are closed on Monday, while most Asian markets are open on Monday.

BLOG does NOT give buy or sell.

Saleem 

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 3966.85, high 3970.23, low 3903.65

RSI @ 38.11

CMF @ -0.052

Internals were :

Down volume led by 2.08 to 1 in NYSE & 1.75 to 1 in Nasdaq

Declining stocks led by 2.82 to 1 in NYSE & 1.96 to 1 in Nasdaq

Net new lows were leading by 360 in NYSE & 398 in Nasdaq

VIX down 1.20% @ 25.56

Oil @ $86.61

Gold @ $1709.30

Canadian $ @ .6832

In my portfolio added 10% SOL @ $5.64

Portfolio ARKK LSPD PLTR MGM SOL SOFI UAL XPEV

Stocks which closed green included UAL

SNAP FSLR TJX HOOD MU AAPL

ROKU QRVO SWKS SCHW BIDU

IBM PFE MRNA ZM EAT CMG

UPS MCD META TSLA AMZN 

GOOG NFLX ORCL MS ULTA 

V JWN NTNX.....

AH Futures Mixed

AH Asian Markets Down

AH Oil UP

AH Gold Down

About market, TAPE was under pressure again but managed to find support & buyers near low of the day, DOW & S&P 500 made a perfect V bottom but Nasdaq ended down for the day well above low & support. It is all about jobs report, my guess It may be weaker than expected, then only this rally can continue.

BLOG does NOT give buy or sell.

Saleem