Indices closed down .39% to .91%....

 Indices closed down.

S&P 500 @ 3871.98, low 3863.18, high 3893.73

RSI @ 57.10

CMF @ -0.022

Internals were :

Down volume led by 1.41 to 1 in NYSE & 1.54 to 1 in Nasdaq

Declining stocks led by 1.29 to 1 in NYSE & 1.22 to 1 in Nasdaq

Net new lows were leading by 60 in NYSE & 28 in Nasdaq

VIX UP .50% @ 25.88

Oil @ $86.53

Gold @ $1640.70

Canadian $ @ .6354

Portfolio ARKK LSPD PLTR MGM SOL SOFI UAL XPEV

Stocks which were UP 1% or more included PLTR SOL

PDD JKS FSLR CSIQ SPWR RUN NCLH HST 

CNX OXY SLB LNG NTR JBLU SAVE ROKU 

WYNN LVS PENN DKNG ULTA....

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE closed lower after being overbought, internals were negative. Solar stocks came to life again led by FSLR. Fed meeting will start tomorrow and pindits will weigh in with their predictions, I expect change in wording which should be enough for this rally to get into overdrive on Wednesday.

BLOG does NOT give buy or sell.

Saleem

US stock market on fire.....

 US stock market has been on fire.....

October 2022 will go down in history as when US stock market rocketed UP fast & furious....

DOW performed the-best...went from a low of 28,725.51 to high of 32889.80 a gain of 4164.29 or 14.49% ....all in one month of October 2022

This is DOW 30 DUD stocks where most of the "dogs of DOW resides "

What happened to Nasdaq

What happened to SOX

That is the sad part of the story......

BOTH Nasdaq & SOX are sitting below 50 DMA & 200 DMA 

Only TAN ( Solar ) stocks has performed worst based on RSI of 48.20..also below 50 DMA & 200 DMA

" what happened to ....world we knew "

As you have gathered by now DOW is healthiest RSI @ 71.34...above 50 DMA & 200 DMA

Second place goes to XLE @ 70.43...... also above 50 DMA & 200 DMA...

Third strongest sector is JETS Airlines ETF @ 65.71 RSI...above 50 DMA

Message of the market is clear......

Nasdaq & SOX needs to be " underweight "

DOW & S&P 500 is where the action IS and could be going forward...

Russell 2000 or IWM is behaving much better @ 62.53 RSI

For the curious mind who wants to know Nasdaq & SOX are @ 52.98 RSI & 54.03 RSI....only above from the bottom

This is what stock market is all about, IT CHANGES ON A DIME

We may get policy moderation from Fed this week in terms of " language " which may propel this market in buying euphoria......

Factor reality of this market in a well diversified format not ignoring overweight & underweight sectors

NEVER FIGHT THE TAPE

Good luck with your own strategy & comfort level.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 2.46% to 2.87%...NICE !!!

 Indices closed UP on lower US$ and lower to stable yield. AAPL stole the show by gaining $10.94 in regular trading. Technology stocks was the biggest gainer of 2.87%. Indices closed near high of the day.

S&P 500 @ 3901.06, high 3905.42, low 3808.26

RSI @ 59.49

CMF @ 0.029

Internals were :

UP volume led by 2.72 to 1 in NYSE & 2.02 to 1 in Nasdaq

Advancing stocks led by 2.87 to 1 in NYSE & 2.12 to 1 in Nasdaq

Net new lows were leading by 61 in NYSE & 74 in Nasdaq

VIX Down 5.99% @ 25.75

Oil @ $87.90

Gold @ $1644.60

Canadian $ @ .6372

Stocks which were UP 2% or more included ARKK LSPD MGM

NCLH SNAP AMAT LULU GE CRM AAPL ROKU BMBL

RCL WYNN LVS PENN QCOM QRVO SWKS MSTR

PINS AMD PFE MRNA INTC MSFT NXPI CIEN

TOL EAT ASML BYND NVDA MCD LRCX

GOOG RH MA MS ULTA CMG IBM.....

Here is my portfolio weighting :

ARKK       28.39%

MGM        20.63%

UAL         20.52%

LSPD      11.08%

PLTR       9.01%

SOFI       6.25%

SOL        3.41%

XPEV      .71%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed.....

 Indices closed mixed.

S&P 500 @ 3807.30, low 3803.78, high 3859.95

RSI @ 53.69

CMF @ -0.079

Internals were :

UP volume led by 1.25 to 1 in NYSE & .45 to 1 in Nasdaq

Advancing stocks led by 1.18 to 1 in NYSE & .91 to 1 in Nasdaq

Net new lows were leading by 82 in NYSE & 72 in Nasdaq

VIX UP .40% @ 27.39

Oil @ $89.08

Gold @ $1665.60

Canadian $ @ .6465

Portfolio ARKK LSPD PLTR MGM SOL SOFI UAL XPEV

Stocks which were UP 1% or more included UAL

JKS SHOP MRVL HST RUN SPWR ENPH

SEDG NTR TJX SQ BYD JBLU BMBL

SCHW CSIQ CIEN CRWD EAT BA

NVDA MCD SPLK LNG.....

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE came under selling and closed near low of the day while DOW was green. Internals were mixed. After hours AMZN guided lower while AAPL was greeted with optimism. Friday may close positive based on the momentum and options expiry.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed.....

 Indices closed mixed.

S&P 500 @ 3830.68, low 3824.07, high 3886.15

RSI @ 55.52

CMF @ -0.041

Internals were :

UP volume led by 1.73 to 1 in NYSE & 1.13 to 1 in Nasdaq

Advancing stocks led by 1.71 to 1 in NYSE & 1.41 to 1 in Nasdaq

Net new lows were leading by 57 in NYSE & 14 in Nasdaq

VIX Down 4.15% @ 27.28

Oil @ $87.91

Gold @ $1669.20

Canadian $ @ .6446

Portfolio ARKK LSPD PLTR MGM SOL SOFI UAL XPEV

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

JD PDD BIDU JD ENPK SEDG CSIQ FSLR RUN APA AG

CCJ GE X BYD SAVE PAAS FCX CLF MSTR DKNG NEM

MRNA AEM NFLX OXY LVS RH MA V......

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE closed mixed but was UP nicely after open but went down in anticipation of after hours earnings report, META reported a huge miss in EPS and guide down, ended sharply lower by 19.66% plus down 5.59% during regular hours. NOW was UP 13.12% in after hours on a beat. Internals were positive. Solar getting a bid on good earnings from ENPH.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 1.07% to 2.25%...NICE !!!

 Indices closed UP.

S&P 500 @ 3859.11, high 3862.85, low 3799.44

RSI @ 57.77

CMF @ 0.030

Internals were :

UP volume led by 6.56 to 1 in NYSE & 7.53 to 1 in Nasdaq

Advancing stocks led by 5.35 to 1 in NYSE & 3.67 to 1 in Nasdaq

Net new lows were leading by 135 in NYSE & 84 in Nasdaq

VIX Down 4.66% @ 28.46

Oil @ $84.58

Gold @ $1658.00

Canadian $ @ .6380

Portfolio ARKK LSPD PLTR MGM SOL SOFI UAL XPEV

Stocks which were UP 4% or more ARKK PLTR SOL SOFI XPEV

PDD JKS RIOT MRVL RUN SPWR NIO AFRM PYPL LULU

SQ COIN BMBL MSTR DASH AMD DKNG SNOW LYFT

ZI TOL MTCH ZM DDOG KBH ENPH NVAX SEDG 

BYND NVDA META TSLA SPLK SNAP....

AH Futures Down

AH Asian Markets UP

AH Oil & Gold Down

About market, TAPE was in a bullish mode again thanks to good earnings report and lower yield. Internals were strong. Indices closed near high of the day again. After hours earnings report were weaker than expected MSFT, GOOG & TXN all were lower. Buy on weakness strong acting stocks.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .86% to 1.34%...NICE !!!

 Indices closed UP.

S&P 500 @ 3797.34, high 3810.74, low 3741.65

RSI @ 54.03

CMF @ -0.037

Internals were :

UP volume led by 1.38 to 1 in NYSE & 1.11 to 1 in Nasdaq

Advancing stocks led by 1.36 to 1 in NYSE & 1.03 to 1 in Nasdaq

Net new lows were leading by 400 in NYSE & 377 in Nasdaq

VIX UP .54% @ 29.85

Oil @ $84.58

Gold @ $1654.10

Canadian $ @ .6292

Portfolio ARKK LSPD PLTR MGM SOL SOFI UAL XPEV

Stocks which closed green included LSPD MGM SOFI UAL

NCLH RIOT APA SNAP AMAT FSLR MGA TJX SQ M

JBLU SAVE AAPL RCL TWTR SWKS AAL MSTR

PINS IBM PFE MSFT LYFT PENN DOCU DAL

CIEN CRWD UPS MRNA NVDA LRCX GOOG

SLB BROS MA......

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE closed higher & near high of the day despite extremely negative reaction for Chinese listed stocks , Solar & Macau gaming stocks. Internals were mostly positive. S&P 500 has quietly moved UP near 50 DMA and we may move higher this week, a positive sign of improving technicals and buying interest.

BLOG does NOT give buy or sell.

Saleem

Make or break week for US stock market....

 Lot of earnings, news this week which will set the direction of US stock market.

On news front most important will be China's delayed Q 3 GDP report which may show slowest growth this year....

US GDP is also will be released slower growth of the year

UK Prime Minister may be in place to fight rising inflation

Australian inflation data to come out which may show 30 year high inflation

Earnings from technology giants are in the card Alphabet, META, AMZN & AAPL most will show slowest growth in Sales, EPS & Margins.....

Non Technology stocks like CMG may show improving Sales & EPS....

ENPH in Solar can be the key for this sector

All of the above can be quite stressful to think clearly as of the direction or impact for stock market, most will be negative....

SO...the question IS.....

How do we adjust to a very heavy news week.....

By staying the course is the-best strategy

Stock market seems to be on the mend after 2 years of downward move....

As stock market looks 6 months ahead....It may be looking @ lowering of interest rates...

Current stressful scenario may turn into optimism...

World GDP may be on growth path...

Thus go through this rough patch with hope & future optimism about future bull market..

Good luck with your own take of current & future environment.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 2.31% to 2.47%...NICE !!!

 Indices closed near high of the day as yield backed off and positive sentiment prevailed for pivot by Fed after November hike. Most sectors participated in todays rally even Solar stocks got mini bid.

S&P 500 @ 3752.76, high 3757.89, low 3647.42

RSI @ 51.14

CMF @ -0.101

Internals were :

UP volume led by 5.22 to 1 in NYSE & 3.66 to 1 in Nasdaq

Advancing stocks led by 2.59 to 1 in NYSE & 2.03 to 1 in Nasdaq

Net new lows were leading by 644 in NYSE & 387 in Nasdaq

VIX Down .97% @ 29.69

Oil @ $85.05

Gold @ $1656.30

Canadian $ @ .6316

Stocks which were UP 3% or more included PLTR MGM UAL 

PDD NCLH RIOT MRVL HST APA SU AMAT MOS FSLR

TJX MU AG GE TECK COIN M X RCL QCOM QRVO SWKS

CNQ LAC SCHW CLF MSTR PENN CIEN ENPH NVAX

MRNA ASML TWLO AEM LRCX AMZN NFLX OXY

SLB WYNN LVS RH ORCL MS.....

Here is my portfolio weighting 

ARKK       27.95%

MGM        20.76%

UAL         20.25%

LSPD      11.05%

PLTR       9.22%

SOFI       6.30%

SOL        3.55%

XPEV       .92%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .30% to .80%....

 Indices closed down.

S&P 500 @ 3665.78, low 3656.44, high 3736.08

RSI @ 44.85

CMF @ -0.144

Internals were :

Down volume led by 1.44 to 1 in NYSE & .99 to 1 in Nasdaq

Declining stocks led by 2.11 to 1 in NYSE & 1.34 to 1 in Nasdaq

Net new lows were leading by 507 in NYSE & 304 in Nasdaq

VIX Down 2.54% @ 29.98

Oil @ $85.98

Gold @ $1634.68

Canadian $ @ .6279

Portfolio ARKK LSPD PLTR MGM SOL SOFI UAL XPEV

Stocks which were UP 3% or more included LSPD XPEV

SHOP CCL AG WYNN IBM PENN ZM

DDOG ASML TWLO LRCX LVS ORCL...

AH Futures Down

AH Asian Markets Down

AH Oil UP

AH  Gold Down

About market, TAPE lost its upside momentum and closed lower on UK PM resignation, higher yield & Fed speak which was much more hawkish. AH earnings report from SNAP Down 27.06% was lower than revised Sales numbers which brought many advertisement related & social media stocks tanking. Solar stocks kept going down.

BLOG does NOT give buy or sell.

Saleem

Indices closed Down .33% to .85%...

 Indices closed down.

S&P 500 @ 3695.16, low 3666.51, high 3728.58

RSI @ 46.74

CMF @ -0.134

Internals were :

Down volume led by 2.96 to 1 in NYSE & 1.50 to 1 in Nasdaq

Declining stocks led by 3.28 to 1 in NYSE & 2.67 to 1 in Nasdaq

Net new lows were leading by 409 in NYSE & 271 in Nasdaq

VIX UP .85% @ 30.76

Oil @ $85.55

Gold @ $1634.20

Canadian $ @ .6215

Portfolio ARKK LSPD PLTR MGM SOL SOFI UAL XPEV

Stocks which closed green included UAL

MRVL QCOM QRVO ASML NVDA

LRCX AMAT CNX APA SU CVX

OXY SLB LNG CNQ SNAP MU

AAL DAL LAC MCD TSLA

SPLK NFLX OLED ....

AH Futures Down

AH Asian Markets Down

AH Oil UP

AH Gold Down

About market, TAPE came under minor selling pressure due to higher yield in USA. Internals were negative. Airlines & Semiconductors were strong as a group, Energy was strong as a group. Solar continues to sink towards new lows.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .90% to 1.14%...NICE !!!

 Indices closed UP.

S&P 500 @ 3719.98, high 3762.79, low 3686.53

RSI @ 48.33

CMF @ -0.176

Internals were :

UP volume led by 4.58 to 1 in NYSE & 2.73 to 1 in Nasdaq

Advancing stocks led by 2.70 to 1 in NYSE & 1.88 to 1 in Nasdaq

Net new lows were leading by 130 in NYSE & 82 in Nasdaq

VIX Down 2.77% @ 30.50

Oil @ $82.82

Gold @ $1655.80

Canadian $ @ .6207

Portfolio ARKK LSPD PLTR MGM SOL SOFI UAL XPEV

Stocks which closed UP 3% or more included SOFI UAL

PDD NCLH RCL CCL SHOP MOS AFRM GE CRM

M TRIP AAL MSTR PINS DKNG SNOW PANW

LYFT DOCU MTCH CRWD UBER ENPH 

SEDG DHI PHM TWLO BROS.....

AH Futures UP

AH Asian Markets UP

AH Oil & Gold UP

About market, TAPE continued its oversold bounce for day 2, Internals were mostly positive. Not all sectors participated today. After hours earnings were very good for NFLX & UAL which has lifted futures which entails a strong open. Good time to review your trades & make switch to better relative performers.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 1.86% to 3.43%...NICE !!!

 Indices closed UP.

S&P 500 @ 3677.95, high 3689.73, low 3638.65

RSI @ 45.40

CMF @ -0.164

Internals were :

UP volume led by 14.80 to 1 in NYSE & 5.63 to 1 in Nasdaq

Advancing volume led by 4.79 to 1 in NYSE & 2.98 to 1 in Nasdaq

Net new lows were leading by 134 in NYSE & 142 in Nasdaq

VIX Down 2.03% @ 31.37

Oil @ $85.46

Gold @ $1664.00

Canadian $ @ .6275

Portfolio ARKK LSPD PLTR MGM SOL SOFI UAL XPEV

Stocks which were UP 5% or more included

ARKK LSPD PLTR MGM SOFI

SHOP SNAP AFRM PYPL CCJ

COIN SQ ROKU BMBL LAC

MSTR DASH PINS DKNG

SNOW LYFT GOOS MTCH

ZM DDOG EAT NVDA 

TWLO META TSLA AMZN

SPLK EXPE JWN BABA BROS...

AH Futures UP

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE staged a deeply oversold bounce on reversal of policies in UK plus all US yields were lower. Most sectors shot UP from low low levels, internals were strong. Solar was a mixed bag. Morgan Stanley market strategist bear made a near term bullish call which also helped. Enjoy this bounce while it last.

BLOG does NOT give buy or sell.

Saleem

Message of US stock market....

 It has been almost 2 years since US stock market started its topping pattern.

After 2 years of relentless selling, this bear party is not over.....

Indices are experiencing turbulence more frequently than before, this may be a sign of capitulation is far from over.....

Using Fed's terminology, more pain to come and frequently than before.

Everyday is becoming a watch & suffer story as close is extremely weak....

S&P 500 is displaying that support is not found yet.

Most predictions are in the range of 3200 to 3500......for S&P 500

My gut tells me round number of 3000 can be breached easily

I am looking for support in 2900 area......

Worst target possible is as low as 2200.....

Support is far from where we are as of Friday.....

% more loss can be as low as 11% more to come or as far as 38% more downside.....

Bear market can be more painful than what most players may be ready for, thus extreme caution is warranted.....

Look @ bear market from DOW 1000 to low reached several years later after almost 30% decline

Looks like something needs to break like UK situation or something else before we get climactic selloff

NOW to something more cheery, XLE or energy @ 54.72 RSI is the strongest group in my universe. XLE is the only sector which IS above 50 DMA & 200 DMA...technically very strong....

TAN or Solar stocks are the-worst with RSI of 28.99, remember how they were the strongest only few weeks ago......

Be prepared for long haul before we see the light.

Bottom line is, manage your risk prudently, by not adding exposure.

Good luck with your own take on markets.

BLOG does NOT give buy or sell.

Saleem

Indices closed down 1.34% to 3.08%...

Indices closed down on higher yield & troubling news from UK which included instability in their GILD rates & firing of Chancellor of Exchequer, all this reversed higher opening and closing @ low of the day.

S&P 500 @ 3583.07, low 3579.68, high 3712.00

RSI @ 38.04

CMF @ -0.151

Internals were :

Down volume led by 6.78 to 1 in NYSE & 4.72 to 1 in Nasdaq

Declining stocks led by 4.19 to 1 in NYSE & 2.85 to 1 in Nasdaq

Net new lows were leading by 335 in NYSE & 277 in Nasdaq

VIX UP .25% @ 32.02

Oil @ $85.61

Gold @ $1648.90

Canadian $ @ .6123

Stocks which closed green included UAL

JKS NCLH DAL AAL BA SPLK NTNX...

Here is my portfolio weighting :

ARKK      28.71%

MGM       20.33%

UAL        19.26%

LSPD     11.19%

PLTR      9.09%

SOFI      6.38%

SOL       4.03%

XPEV    1.01%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 2.23% to 2.83%...NICE !!!

 Indices closed UP.

S&P 500 @ 3669.91, high 3685.41, low 3491.58

RSI @ 42.97

CMF @ -0.047

Internals were :

UP volume led by 4.36 to 1 in NYSE & 2.70 to 1 in Nasdaq

Advancing stocks led by 2.24 to 1 in NYSE & 2.07 to 1 in Nasdaq

Net new lows were leading by 1375 in NYSE  & 893 in Nasdaq

VIX Down 4.86% @ 31.94...high 33.87

Oil @ $89.11

Gold @ $1648.30

Canadian $ @ ,6251

Portfolio ARKK LSPD PLTR MGM SOL SOFI UAL XPEV

Stocks which were UP 3% or more included UAL

RIOT MRVL AMAT NTR MOS MGA MU GE

TECK JBLU SAVE TSM AAPL QCOM IBM

QRVO SWKS CNQ SLB OXY LNG CVX

LAC MSFT DAL TD NVAX MRNA MCD

BYND NVDA LRCX BROS MA V MS...

AH Futures Mixed

AH Asian Markets UP

AH Oil & Gold Down

About market, TAPE reacted to high CPI report then found support and made a V bottom and closed near high of the day. Internals were positive. Many technicians are of the opinion, this is not the bottom of this bear market, thus caution is advised.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .09% to .33%.....

 Indices closed down.

S&P 500 @ 3577.03, low 3573.86, high 3608.34

RSI @ 34.55

CMF @ -0.127

Internals were :

Down volume led by 1.25 to 1 in NYSE & .85 to 1 in Nasdaq

Declining stocks led by 1.64 to 1 in NYSE & 1.13 to 1 in Nasdaq

Net new lows were leading by 688 in NYSE & 578 in Nasdaq

VIX Down .18% @ 33.57

Oil @ $87.27

Gold @ $1677.50

Canadian $ @ .6197

Portfolio ARKK LSPD PLTR MGM SOL SOFI UAL XPEV

Stocks which were UP 1% or more included 

ARKK MGM SOFI XPEV

NCLH SHOP CNX SNAP

CCL MOS AFRM SQ AG

GE TECK JBLU ROKU

RCL AAL DASH SNOW

LYFT ZI ZM DOCU UBER

NVAX MRNA AEM OXY

LNG BROS ORCL CMG...

AH Futures UP

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, TAPE closed lower after hotter than expected PPI numbers. Tomorrow is mother of all inflation data CPI, I expect it to be tamer than expected, should give us a powerful oversold bounce. Today technology behaved better than most group, sign that it is deeply oversold after 2 years of relentless selling.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 3588.84, low 3568.45, high 3640.66

RSI @ 35.16

CMF @ -0.074

Internals were :

Down Volume led by 1.31 to 1 in NYSE & 1.80 to 1 in Nasdaq

Declining stocks led by 1.50 to 1 in NYSE & 1.51 to 1 in Nasdaq

Net new lows were leading by 857 in NYSE & 783 in Nasdaq

VIX UP 3.64% @ 33.63

Oil @ $89.35

Gold @ $1686.00

Canadian $ @ .6260

Portfolio ARKK LSPD PLTR MGM SOL SOFI UAL XPEV

Stocks which were UP 1% or more included SOL

HAT CNX AFRM MU CCJ COIN

M AAL NVAX EAT NKE BYND

JWN NTNX BROS ULTA 

KBH CMG.....

AH Futures Mixed

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE was staging an oversold bounce but it all got tripped by an announcement from Bank Of England that their pension funds have until Friday to be on side, so we lost all green and went red, finally we closed mixed. Technology got another downgrade of Semiconductors / Equipment makers thus Nasdaq closed red. Its a jittery bear which reacts to any & all negative news.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .32% to 1.04%....

 Indices closed down.

S&P 500 @ 3612.39, low 3588.10, high 3652.17

RSI @ 36.36

CMF @ -0.091

Internals were :

Down volume led by 2.91 to 1 in NYSE & 2.20 to 1 in Nasdaq

Declining stocks led by 2.43 to 1 in NYSE & 1.77 to 1 in Nasdaq

Net new lows were leading by 672 in NYSE & 605 in Nasdaq

VIX UP 3.48% @ 32.45

Oil @ $91.13

Gold @ $1675.20

Canadian $ @ .6303

Portfolio ARKK LSPD PLTR MGM SOL SOFI UAL XPEV

Stocks which closed green included UAL

NTR MOS FSLR ENPH GE TECK 

FCX CLF X AAPL BMBL TWTR

QRVO LYFT NVAX MRNA

UPS BA MCD META 

NFLX LTHM ULTA..

AH Futures UP

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, TAPE was under selling pressure again and closed lower. Yield was UP, Fed speak was ON and Jamie Dimon gave bearish target of further 20% down move. Internals were negative Base metals & healthcare / pharma was green.

BLOG does NOT give buy or sell.

Saleem

Are we ready for 3 day bounce in US stock market....

 This was the week when Fed Governors took every mike they could find and kept repeating " pain is to come "

Markets obliged by tanking on every news like rising yield, higher jobs data, higher Oil prices

So we are deeply oversold again......

Based on bearish pattern which IS nicely evolving, we got 1 day oversold bounce then 2 days oversold bounce.....this week could be 3 day oversold bounce ? ..pattern points yo this kind of trend.....

Based on my famous non-patented read on RSI......only XLE RSI of 61.40 is bullish...only 1 sector survived Fed speak.....

Remember how Solar was the-strongest sector few days ago...guess what? Solar / TAN is the-weakest @ 34.41 RSI in my universe.....

The above 2 sectors which flip flopped in opposite direction proves in bear markets " nothing is safe or strong.....based on this " repeat theory...XLE may be ripe for southbound action.....

NOW that we fully understand that it IS bear market until Fed pivots.....it is good to book profit IF we are so lucky instead of hoping against hope...or looking for homeruns 

IF you are well diversified and get some stocks participating in these sporadic bounce then book profit as they go away in next 72 hours....

Based on my universe we made new lows for 2022 in S&P 500, DOW, SOX & XLB ( Materials )

Nasdaq escaped new 2022 lows by hair which may happen IF we open lower on Monday.....

XLE is the only sector which is above 50 DMA & 200 DMA but far from making new highs.....this may be as good as it gets...

Bear market goes on, we must pursue some kind of survival strategy of selling @ any profit

Please rethink your portfolio based on reality of bear market.....

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

BLOG does NOT give buy or sell.

Saleem

Indices closed down 2.11% to 3.80%...

 Indices closed down near low of the day as yield ticked up and job growth was slightly ahead of consensus. Internals were negative.

S&P 500 @ 3639.66, low 3620.73, high 3706.74

RSI @ 37.73

CMF @ -0.061

Internals were :

Down volume led by 9.69 to 1 in NYSE & 6.63 to 1 in Nasdaq

Declining stocks led by 5.78 to 1 in NYSE & 4.51 to 1 in Nasdaq

Net new lows were leading by 526 in NYSE & 362 in Nasdaq

VIX UP 2.75% @ 31.36

Oil @ $92.64

Gold @ $1709.30

Canadian $ @ .6303

Stocks which closed green included

APA CNQ DKNG JWN SLB LNG

Here is my portfolio weighting :

ARKK         29.98%

MGM          20.51%

UAL           17.39%

LSPD        11.22%

PLTR          9.30%

SOFI          6.29%

SOL           4.18%

XPEV        1.13%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .68% to 1.15%....

 Indices closed down.

S&P 500 @ 3744.52, low 3738.22, high 3782.83

RSI @ 43.64

CMF @ -0.007

Internals were :

Down volume led by 2.99 to 1 in NYSE & 1.95 to 1 in Nasdaq

Declining stocks led by 2.32 to 1 in NYSE & 1.42 to 1 in Nasdaq

Net new lows were leading by 185 in NYSE & 125 in Nasdaq

VIX UP 6.90% @ 30.52

Oil @ $88.45

Gold @ $1720.80

Canadian $ @ .6264

Portfolio ARKK LSPD PLTR MGM SOL SOFI UAL XPEV

Stocks which closed green included ARKK LSPD PLTR

TPR APA SU SNAP NTR MOS HOOD PYPL AG

COIN BMBL RCL WYNN PAAS PINS SNOW

GOLD PENN NEM ZI ZM TOL DHI KBH

PHM CRWD ESTC UBER CVX OXY SLB 

LNG TWLO AEM NFLX LVS GOOS...

AH Futures Down

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE came under selling pressure due to hawkish Fed statement and tomorrows jobs report, It Is all about inflation coming down not jobs data meeting or missing expectations by bean counters. More & more Fed officials are very hawkish and they are getting vocal, so no pivot anytime soon.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .14% to .25%....

 Indices closed down.

S&P 500 @ 3783.28, low 3722.66, high 3806.91

RSI @ 46.11

CMF @ 0.069

Internals were :

Down volume led by 1.73 to 1 in NYSE & 1.60 to 1 in Nasdaq

Declining stocks led by 2.08 to 1 in NYSE & 1.70 to 1 in Nasdaq

Net new lows were leading by 140 in NYSE & 144 in Nasdaq

VIX Down 1.79% @ 28.55

Oil @ $87.76

Gold @ $1720.80

Canadian $ @ .6333

Portfolio ARKK LSPD PLTR MGM SOL SOFI UAL XPEV

Stocks which closed green included MGM UAL

TPR CNX APA SU TJX JWN M PYPL LULU

CRM BYD TSM WYNN LVS PENN QCOM

QRVO SNOW PANW GOOS ZI CRWD

JD CVX OXY SLB LNG EAT NKE

SPLK SNAP MU MA V ORCL SWKS ...

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE closed slightly lower as yield rose. Internals were negative. Many stocks took a well deserved rest after burning TAPE for 2 days. Solar & EV were hit hard as US pointed to child labor being used for batteries for Solar & EV in China.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 2.80% to 3.34%...NICE !!!

 Indices closed UP

S&P 500 @ 3790.93, high 3794.92, low 3726.46

RSI @ 46.60

CMF @ 0.081

Internals were :

UP volume led by 21.14 to 1 in NYSE & 10.57 to 1 in Nasdaq

Advancing stocks led by 6.80 to 1 in NYSE & 3.70 to 1 in Nasdaq

Net new lows were leading by 75 in NYSE & 98 in Nasdaq

VIX Down 3.42% @ 29.07

Oil @ $86.52

Gold @ $1730.50

Canadian $ @ .6443

Portfolio ARKK LSPD PLTR MGM SOL SOFI UAL XPEV

Stocks which were UP 5% or more included 

ARKK LSPD MGM SOL SOFI UAL

NCLH SHOP SNAP RUN AFRM LULU

SQ COIN M X BYD JBLU DAL AAL BMBL

RCL WYNN CNQ MSTR DASH DKNG SNOW

LYFT PENN UBER EAT BA ASML BYND 

TWLO JWN LVS.....

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE continued its deeply oversold bounce for 2nd day with the help of lower yield and Australian Central Bank raising rates by only 25 basis which gave hope that Fed may be see the light from other major Central Banks actions of 3 in a row. Internals were strong and just about every stock participated in today's rally.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 2.27% to 2.66%...NICE !!!

 Indices closed UP.

S&P 500 @ 3678.43, high 3698.35, low 3604.93

RSI @ 37.65

CMF @ 0.018

Internals were :

UP volume led by 10.29 to 1 in NYSE & 4.12 to 1 in Nasdaq

Advancing stocks led by 5.04 to 1 in NYSE & 2.70 to 1 in Nasdaq

Net new lows were leading by 328 in NYSE & 327 in Nasdaq

VIX Down 4.81% @ 30.10

Oil @ $83.63

Gold @ $1702.00

Canadian $ @ .6344

Portfolio ARKK LSPD PLTR MGM SOL SOFI UAL XPEV

Stocks which were UP 3% or more included LSPD SOFI

TPR SHOP MRVL HST APA SU CNQ CVX SLB OXY

AMAT FSLR ENPH RUN AG PAAS CCJ TECK X 

AAPL BMBL QCOM QRVO SWKS FCX CLF

MSTR AMD MSFT PANW NXPI ZI TOL

DHI PHM KBH MTCH TER BA NVDA 

LRCX JWN MU RH ORCL OSTK....

AH Futures UP

AH Asian markets Mixed

AH Oil & Gold UP

About market, TAPE gave a much awaited deeply oversold bounce as 10 year yield slumped and UN made an appeal to all Central Banks of the world to stop raising rates. Internals were strong many sectors were UP. Oil went sharply higher on anticipation of OPEC+ output cut by 1 million barrels.

BLOG does NOT give buy or sell.

Saleem

US market in deep bearish mode.....

 We closed @ low of the day on Friday.

Deeply oversold bounce are lasting just for a day

We are heading much lower .....

How low is undetermined but 10% more lower is a safe bet

Bank of England & Bank of Japan are going against mighty Federal Reserve of USA but failed in changing bearish tide.

Based on current determination of Fed, unless they pivot, this bear market will continue.

IF you have to plan your investment dollars deployment then after 1st quarter of next year may the most opportune time

SO there is much more pain to endure and may be much more painful than Fed prediction.

SO...think hard and listen to your rational self...

YES....6 more months of same same which we have endured in 2021 & 2022

While we all want to be " lucky " and then call  " genius " but it will all taken back with next wave of intense selling...

Bear markets are never fun, because it takes good & bad stocks down with same intensity

SO do not feel bullish with oversold bounce, may be raise some cash or reduce exposure, because 6 months is a long time to wait & suffer with reduced equity.

Understanding of current bear market is more important than just being in market and hoping for the best outcome ......

Never heard in 5 decades that any Fed wanted to " inflict pain " but this Fed is hellbent on doing it....

Stay extremely watchful & defensive.....

Good luck with your own take on Fed & markets....

BLOG does NOT give buy or sell.

Saleem