Indices closed UP 1.09% to 1.67%...NICE !!!

 Indices closed UP.

S&P 500 @ 4076.60, high  4077.16, low 4020.44

RSI @ 61.96

CMF @ 0.225

Internals were :

UP volume led by 9.00 to 1 in NYSE 3.48 to 1 in Nasdaq

Advancing stocks led by 4.91 to 1 in NYSE & 3.12 to 1 in Nasdaq

Net new highs were leading by 108 in NYSE & 105 in Nasdaq

VIX Down 2.71% @ 19.40

Oil @ $78.87

Gold @ $1945.30

Canadian $ @ .6663

Portfolio ARKK LCID LSPD MGM SOL

Stocks which were UP 3% or more included ARKK LSPD MGM 

GOOS XPEV JKS TPR SHOP RUN NTR FSLR SPWR AFRM

TECK COIN BYD ROKU RCL WYNN AI CSIQ DOCU ZI

TOL CRWD UBER KBH ENPH SEDG UPS DHI PHM

TSLA LRCX JWN BROS....

AH Futures Down

AH Asian Markets UP

AH Oil UP

AH Gold Down

About market, TAPE closed @ high of the day, more than reversing yesterday's losses. Internals were strong. Tomorrow @ 2 PM It IS all about Fed policy announcement followed by Q&A. I expect a change in Fed policy with smaller token higher rates of 25 basis. IF that happens, expect all Indices to make higher highs well above resistance.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .77% to 1.96%...

 Indices closed down.

S&P 500 @ 4017.77, low 4015.55, high 4063.85

RSI @ 56.88

CMF @ 0.208

Internals were :

Down volume led by 3.23 to 1 in NYSE & 2.44 to 1 in Nasdaq

Declining stocks led by 2.40 to 1 in NYSE & 2.07 to 1 in Nasdaq

Net new highs were leading by 59 in NYSE & 70 in Nasdaq

VIX UP 7.73% @ 19.94

Oil @ $77.90

Gold @ $1939.20

Canadian $ @ .6647

In my portfolio bought LCID @ $13.00

Portfolio ARKK LCID LSPD MGM SOL

Stocks which closed green included

GOOS CCJ CRM M JWN

SCHW IBM PENN ENPH

ELF SOFI SNAP SLI ULTA....

AH Futures UP

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TSPE closed near low of the day, It was nothing more than a down close after 6 days of gains. Please do NOT overthink, please get the market direction right, rest is easy and you will enjoy this ride higher & higher after few pause along the way. Let the bear do the doomsday scenario on every down day.

BLOG does NOT give buy or sell.

Saleem

US stock market uptrend started....

 US stock market is on a well defined uptrend.

All major Index / Indices are above 50 DMA & 200 DMA, a classic definition of a technically strong market.

Nasdaq which was much maligned by most pundits has given the-best performance in last 4 weeks.

Nasdaq is showing highest strength among major Indices with an RSI of 68.37

US stock market is showing so much strength with high volume that an aggressive allocation is highly desirable.

Very seldom we see high volume positive action near lows.

Most sectors are above 64 RSI in my universe, only TAN is below @ 54.42

Most participants are extremely cautious near lows as they are still afraid of another downtrend.

YES market may pull back BUT it will be another chance to add strong stocks.

Please do not go bargain hunting, that is a short cut to underperformance.

Wednesday @ 2 PM Fed may finally announce a PAUSE in hikes, a strategy already announced by Canada's Central Bank.

IF that happens, expect a very strong run to higher level.

SO...do your homework and see IF you have strong stocks in your portfolio.

 Some speculative stock is OK but 80% should be in stocks showing strength.

Good luck with your own analysis and comfort level.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 0.08% to 0.95%...NICE !!!

 Indices closed UP in record breaking week where technology ruled. TSLA went straight UP giving ARKK best month ever.

S&P 500 @ 4070.56, high 4094.21, low 4048.70

RSI @ 64.01

CMF @ 0.279

Internals were :

UP volume led 1.35 to 1 in NYSE & 2.05 to 1 in Nasdaq

Advancing stocks led by 1.40 to 1 in NYSE & 1.34 to 1 in Nasdaq

Net new highs were leading by 128 in NYSE & 84 in Nasdaq

VIX Down 1.17% @ 18.51

Oil @ $79.68

Gold @ $1929.40

Canadian $ @ .6683

Stocks which went UP 4% or more included ARKK LSPD

XPEV SNAP RUN SPWR NIO AFRM HOOD COIN

ROKU BMBL AI MSTR DKNG SNOW LYFT

BYND TSLA LCID SLI BROS OSTK....

Here is my portfolio weighting :

ARKK        56.02%

LSPD        21.37%

MGM       18.40%

SOL          4.21%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .61% to 1.76%...NICE !!!

 Indices closed UP.

S&P 500 @ 4060.43, high 4061.57, low 4013.29

RSI @ 63.19

CMF @ 0.251

Internals were :

UP volume led by 1.96 to 1 in NYSE & 1.50 to 1 in Nasdaq

Advancing stocks led by 2.35 to 1 in NYSE & 1.45 to 1 in Nasdaq

Net new highs were leading by 126 in NYSE & 82 in Nasdaq

VIX Down 1.83% @ 18.73....52 wk low is 18.01

Oil @ $81.01

Gold @ $1930.00

Canadian $ @ .6647

Portfolio ARKK LSPD MGM SOL

Stocks which were UP 1% or more included ARKK MGM

EXAS XPEV JD PDD BIDU MRVL CNX APA CVX 

OXY SLB SNAP BTR MOS FSLR NIO PYPL MU

CRM AAPL WYNN LVS QCOM QRVO SWKS

MGNI CLF AI SNOW MSFT PANW NXPI ZI

ZM CRWD ESTC DDOG NVDA META TSLA

GOOG BROS AMZN CMG X SHOP....

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE closed @ highest point despite attempt to react to better than expect economic data in USA. Nasdaq strength has put credibility of many pundits into serious question, never try to even think that one is smarter than market. Friday could be another winning day despite super bad earning from INTC.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed...

 Indices closed mixed.

S&P 500 @ 4016.22, low 3949.06, high 4019.55

RSI @ 59.43

CMF @ 0.202

Internals were :

UP volume led by 1.64 to 1 in NYSE & 1.07 to 1 in Nasdaq

Advancing stocks led by 1.25 to 1 in NYSE & 1.13 to 1 in Nasdaq

Net new highs were leading by 46 in NYSE & 56 in Nasdaq

VIX Down .62% @ 19.08

Oil @ $80.15

Gold @ $1942.60

Canadian $ @ .6583

Portfolio ARKK LSPD MGM SOL

Stocks which were UP 1% or more included

LCID GOOS DAL AAL UAL SHOP

CCL TJX CCJ X M SWKS LAC FCX

CLF BIDU GOLD LYFT NEM ELF

MCD AEM NFLX SLB OSTK.....

AH Futures Mixed

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE staged a huge rebound from lows and almost erased all the losses and closed mixed. Today was a huge victory for the bulls and credit may go Canadian Central Bank for raising only .25% Interest and announced a halt to future rate hikes to see how the economy absorbs 4.50% Interest. Expect a strong close on Thursday as TSLA delivered with a beat on Top & Bottom line.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 4016.95, low 3989.79, high 4023.92

RSI @ 59.52

CMF @ 0.191

Internals were :

UP volume led by .74 to 1 in NYSE & 1.11 to 1 in Nasdaq

Advancing stocks led by 1.01 to 1 in NYSE & .85 to 1 in Nasdaq

Net new highs were leading by 71 in NYSE & 78 in Nasdaq

VIX Down 3.08% @ 19.20

Oil @ $80.13

Gold @ $1935.40

Canadian $ @ .6627

Portfolio ARKK LSPD MGM SOL

Stocks which closed green included MGM

JD PDD HST SNAP GE TECK BYD

AAPL RCL PAAS LAC SCHW DKNG

GOLD PANW TOL KBH ELF DHI

PHM BA AEM NFLX MA ORCL

ULTA.....

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE tried to hold its gains and it succeeded for the most part with Indices closing mixed with DOW being green @ close. Internals were weak. After hours Technology earnings guidance was a miss. Wednesday close will bring much awaited TSLA earnings, lot of skepticism built in due to margin pressure, BUT I believe, It will be a much better than expected report.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .76% to 2.01%...NICE !!!

 Indices closed UP.

S&P 500 @ 4019.81, high 4039.31, low 3971.64

RSI @ 59.86

CMF @ 0.178

Internals were :

UP volume led by 2.85 to 1 in NYSE & 5.51 to 1 in Nasdaq

Advancing stocks led by 2.77 to 1 in NYSE & 1.73 to 1 in Nasdaq

Net new highs were leading by 87 in NYSE & 81 in Nasdaq

VIX Down .20% @ 19.81

Oil @ $81.62

Gold @ $1928.60

Canadian $ @ .6615

Portfolio ARKK LSPD MGM SOL

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

XPEV SHOP MRVL AMAT FSLR NIO MU SQ TSM ROKU

QCOM QRVO SWKS MSTR DASH AMD ZI DDOG TER

SEDG ASML BYND NVDA TSLA JWN JKS RH....

AH Futures UP

AH Asian Markets UP

AH Oil & Gold UP

About market, TAPE closed higher near high of the day on higher than average volume, crossing a major resistance higher than last resistance. IF we close higher again, then it will be a complete victory for bulls. Semiconductors & technology stocks were the strongest, too many shorts were hiding in those sectors. Expect more short covering and new 2023 allocations to equities.

BLOG does NOT give buy or sell.

Saleem

US stock market on the move higher....

 US stock market has a clear message for traders, Investors & Fed.....we are going much higher....

Message of the market is to get on board or lose first 20% of UP move

US stock market is looking 6 months ahead, when Interest rates will be further down, we are talking mortgage rates, lending rates and deposit rates....Fed Interest rates can stay artificially higher but market has already voted lower rates for weeks...

Even those who reads charts after the fact, they will discover a real change in direction for most stocks...northbound it IS.....

Those who always wait for all clear from Fed...It may be a long wait still

Message of the market is very clear....storm has passed....

Those who look for guarantees, market NEVER give guarantees in best of the market, because there are laggards even @ peak of the bull market....

It IS all about " risk / reward "...It IS the best it has been in last 31 months....

Laggards & blow up asides, you are looking @ one of the best time to trade / invest....

Market is never this easy as it IS @ this stage of Fed rediscovering their mistakes again....

Most sectors are deeply oversold...

Technology is being maligned as worst sector....

All of the above is a sure shot sign of bottom.....

How to Invest is based on your comfort level....

Where to Invest can be done in multiple ways....

Day trading can work

Momentum Investing can work

Short term strategy can work

Long term strategy can work

All of this strategy requires lot of home work or give your funds to multiple ETF

Market is looking very healthy, stars are aligned...

Invest  / trade with confidence, market is looking good going forward.

Any selling is another chance to add or start a new position.

Rarely we get a chance to buy near lows, this opportunity must be availed.

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

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 1.00% to 2.66%...NICE !!!

 Indices closed UP after pulling back for 2 days. Technology was the-superstar with best gain for the week & into close. Internals were positive & strong. 

S&P 500 @ 3972.61, high 3972.96, low 3897.86

RSI @ 56.00

CMF @ 0.182

Internals were :

UP volume led by 6.26 to 1 in NYSE & 6.37 to 1 in Nasdaq

Advancing stocks led by 3.55 to 1 in NYSE & 2.63 to 1 in Nasdaq

Net new highs were leading by 42 in NYSE & 60 in Nasdaq

VIX Down 3.27% @ 19.85

Oil @ $81.64

Gold @ $1928.20

Canadian $ @ .6579

Stocks which were UP 3% or more included ARKK SOL

GOOS XPEV HST NCLH SHOP RIOT SNAP AMAT 

NTR AFRM HOOD PYPL MU CCJ SQ CRM COIN 

TRIP ROKU RCL QCOM QRVO SWKS LAC MSTR

DASH BIDU AMD DKNG SNOW MSFT PANW

LYFT PENN DOCU MTCH ZM CRWD ESTC

UBER DDOG EAT BYND TSLA AMZN SPLK

GOOG NFLX CMG.....

Here is my portfolio weighting :

ARKK        55.24%

LSPD        20.98%

MGM        19.12%

SOL           4.66%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .76% to .96%...

 Indices closed down.

S&P 500 @ 3898.85, low 3885.54, high 3922.94

RSI @ 48.85

CMF @ 0.137

Internals were :

Down volume led by 2.12 to 1 in NYSE & 2.54 to 1 in Nasdaq

Declining stocks led by 1.49 to 1 in NYSE & 1.70 to 1 in Nasdaq

Net new highs were leading by 8 in NYSE & 39 in Nasdaq

VIX UP  0.88% @ 20.52

Oil @ $80.33

Gold @ $1923.90

Canadian $ @ .6503

Portfolio ARKK LSPD MGM SOL

Stocks which closed green included

JD PDD BABA BISU APA SU

CNQ CVX OXY SNAP CCJ

FCX TECK CRM WYNN

PAAS AEM NEM GOLD 

PINS MTCH META EXPE

GOOG YELP BROS V...

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE closed near low of the day again, Internals were negative. Looks like Fed team accomplished in inflicting two day's of pain to bulls but shorts benefitted. We should rally from hereon as yields remains @ low levels to convince Fed to follow the real market. Mortgage rates have peaked also and headed lower.

BLOG does NOT give buy or sell.

Saleem

Indices closed down 1.24% to 1.81%...

 Indices closed down.

S&P 500 @ 3928.86, low 3926.59, high 4014.16

RSI @ 52.04

CMF @ 0.135

Internals were :

Down volume led by 5.29 to 1 in NYSE & 2.89 to 1 in Nasdaq

Declining stocks led by 1.88 to 1 in NYSE & 1.98 to 1 in Nasdaq

Net new highs were leading by 94 in NYSE & 87 in Nasdaq

VIX UP 5.06% @ 20.34

Oil @ $79.48

Gold @ $1907.00

Canadian $ @ .6559

Portfolio ARKK LSPD MGM SOL

Stocks which closed green included 

DAL TPR RUN AMAT NTR TECK

M TSM WYNN QCOM DASH TOL

NXPI NTAP KBH MRNA OLED

LNG ULTA....

AH Futures Down

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, TAPE closed @ low of the day on Fed talk of higher interest rates by 3 Fed officials, more will do the same going forward, reason, Fed talk of higher rates because real Interest rates in open market has peaked and is headed lower, look @ treasury yields which is lowest in weeks. This divergence is a tell tale of market winning against Fed which Fed officials do not like. Any selling should be taken as gift for buying or adding stocks.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed...

 Indices closed mixed.

S&P 500 @ 3990.97, low 3984.57, high 4015.39

RSI @ 59.52

CMF @ 0.156

Internals were :

UP volume led by .83 to 1 in NYSE & 1.58 to 1 in Nasdaq

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

Net new highs were leading by 133 in NYSE & 114 in Nasdaq

VIX Down .67% @ 19.36

Oil @ $80.18

Gold @ $1909.90

Canadian $ @ .6617

In my portfolio Added 110% LSPD @ $21.60 in Toronto

Portfolio ARKK LSPD MGM SOL

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

NCLH SHOP RIOT COIN MSTR OSTK HST CCL MOS 

AFRM SQ HOOD JBLU TSM BMBL AI DASH SNOW

PANW DOCU MTCH CRWD ESTC DDOG ENPH

TWLO TSLA BROS MS....

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE closed mixed as DOW was under pressure from GS below expectations earnings. Nasdaq was the shining star and it closed UP. Internals of the market was positive and VIX was lower both good indicators. There is a rotation going on which is getting serious buying interest in beaten down sectors where hope for turnaround is obvious.

BLOG does NOT give buy or sell.

Saleem

US Stock market bullish view.....

 US stock market shocked every trader / Investor since 2020.....

First it went parabolic with stay @ home stocks then it tanked into a serious bear market om inflation & its fight through higher Interest rates by world Central banks....

Now we have entered last phase of hikes in rates thus a major reset to bull scenario from extreme bear.

US stock market has reacted nicely to this changing scenario.

We have moved UP to cross first resistance....

VIX has fallen to lowest level in months....

All this means that, we may have to digest recent gains....which takes time...

We may trade in a very narrow range until interest policy changes,,,

Few weeks of digestion is not such a bad thing...

We all can plan & look forward to s sustained bull market in 2023....

One should focus on stocks to keep and new investing stocks to add when possible.

Nasdaq went down to 30 months low in last week of December 2022, It may not be out of possibility to think that we may be looking @ bull run for minimum 30 months....

The way we showed conviction in bear market, we must display the same in this new bull run...whenever it reasserts its existence.

Generally bull market is twice as long as bear market, thus preparation for bull market may be profitable like Y2k or 2008 low.....

Market will go through its own pace which involves UP days and few down days.....

We are looking @ a very profitable juncture which started in December 2022...

Where to invest or trade is a personal approach, some like It risky, some highest risk, some medium risk and some very conservative or lowest risk, you have to look for stocks based on your own investment objective.

Most sectors are looking good and investible, RSI is a good way of knowing when to buy or add.

There are other overbought / oversold technical indicators which one can use for an entry point.

Bottom line is, market has changed, long term bull market has started already but It IS overbought in near term....

Good luck with your own analysis and understanding of where we are in in this investing cycle, we are proven wrong @ any juncture.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .33% to .71%...NICE !!!

 Indices closed UP despite mixed earnings from Banks & DAL. All Indices are making a real break through resistance. All sectors participated in this rally into close. Close was @ high of the day.

S&P 500 @ 3999,09, high 4003.95, low 3947.67

RSI @ 60.58

CMF @ 0.152

Internals were :

UP volume led by 1.59 to 1 in NYSE & 1.38 to 1 in Nasdaq

Advancing stocks led by 1.79 to 1 in NYSE & 1.73 to 1 in Nasdaq

Net new highs were leading by 101 in NYSE & 103 in Nasdaq

VIX Down 2.55% @ 18.35

Oil @ $79.86

Gold @ $1921.70

Canadian $ @ .6584

Stocks which were UP 1% or more included ARKK MGM

PDD NCLH SHOP MRVL SNAP RUN SEDG ENPH

CCL AFRM HOOD GE COIN M JBLU AAPL ROKU 

WYNN PAAS AAL MSTR BIDU DKNG PANW NEM

CRWD UBER DDOG ELF MRNA NVDA TWLO

AEM AMZN BABA OLED LVS MS....

Here is my portfolio weighting :

ARKK       61.77%

MGM        21.95%

LSPD       10.90%

SOL           5.38%

Next post by 6 PM on Monday.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .34% to .64%...NICE !!!

 Indices closed UP.

S&P 500 @ 3983.17, high 3997.76, low 3937.56

RSI @ 59.26

CMF @ 0.093

Internals were :

UP volume led by 3.07 to 1 in NYSE & 2.56 to 1 in Nasdaq

Advancing stocks led by 3.75 to 1 in NYSE & 2.50 to 1 in Nasdaq

Net new highs were leading by 95 in NYSE & 113 in Nasdaq

VIX Down 10.72% @ 18.83

Oil @ $78.39

Gold @ $1898.80

Canadian $ @ .6617

Portfolio ARKK LSPD MGM SOL

Stocks which were UP 2% or more included ARKK SOL

GOOS DAL AAL UAL SAVE NCLH CCL RCL RIOT

COIN MRVL CNX APA RUN FSLR SEDG MOS

AFRM CRM M X BYD TSM BMBL WYNN 

QCOM LAC CLF MSTR AMD DKNG LYFT

UBER PENN BA BYND NVDA TWLO 

META CMG....

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE closed near high of the day as yield went south against wishes and jaw boning of Fed officials. Russell 2000 was the strongest and is looking most healthy technically speaking. Internals were positive and VIX closed @ lowest level in a while. Market is overbought and may regroup & catch its breadth.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .80% to 1.76%...NICE !!!

 Indices closed UP.

S&P 500 @ 3969.61, high 3970.07, low 3928.54

RSI @ 58.16

CMF @ 0.031

Internals were :

UP volume led by 2.82 to 1 in NYSE & 4.24 to 1 in Nasdaq

Advancing stocks led by 3.78 to 1 in NYSE & 2.22 to 1 in Nasdaq

Net new highs were leading by 79 in NYSE & 98 in Nasdaq

VIX UP 2.48% @ 21.09

Oil @ $77.41

Gold @ $1878.90

Canadian $ @ .6575

Portfolio ARKK LSPD MGM SOL

Stocks which were UP 3% or more included ARKK SOL

GOOS EXAS JKS RUN ENPH SEDG SPWR UAL 

MRVL HST AFRM GE M ROKU BMBL SWKS

LAC PINS MSFT LYFT ZI DDOG BYND 

TSLA AMZN GOOG EXPE JWN BROS OSTK...

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE closed @ its high of the day and have & are ready to cross a major technical resistance, a task which was declared impossible by majority of chartist. Internals were positive, most sectors participated in this breakout. Tomorrow it is all about CPI @ 830 AM, expectation is 6.5% for December year over year, I believe we should beat this easily.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .56% to 1.01%...NICE !!!

 Indices closed UP.

S&P 500 @ 3919.25, high 3950,57, low 3877.29

RSI @ 53.84

CMF @ 0.031

Internals were :

UP volume led by 3.04 to 1 in NYSE & 4.04 to 1 in Nasdaq

Advancing stocks led by 2.33 to 1 in NYSE & 2.45 to 1 in Nasdaq

Net new highs were leading by 46 in NYSE & 64 in Nasdaq

VIX Down 6.33% @ 20.58

Oil @ $75.12

Gold @ $1876.50

Canadian $ @ .6563

Portfolio ARKK LSPD MGM SOL

Stocks which were UP 3% or more included MGM SOL

GOOS DAL AAL UAL JBLU LULU JKS CSIQ FSLR

SPWR RIOT COIN NIO GE ROKU BMBL WYNN

FCX CLF MSTR PINS DKNG LYFT NXPI BABA 

NFLX OLED RH BROS ULTA,,,,

AH Futures Mixed

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, TAPE ignored Powell's speech & another Fed voting member repeat of uber hawkish Statement and rallied to close higher, a huge victory for bulls. Internals were all positive, VIX touching recent lows. There is a great chance we close higher on Wednesday.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed...

 Indices closed mixed.

S&P 500 @ 3892.09, low 3890.92, high 3950.57

RSI @ 51.32

CMF @ -0.054

Internals were :

UP volume led by 1.44 to 1 in NYSE & 2.06 to 1 in Nasdaq

Advancing stocks led by 1.85 to 1 in NYSE & 1.50 to 1 in Nasdaq

Net new highs were leading by 96 in NYSE & 81 in Nasdaq

VIX UP 3.98% @ 21.97

Oil @ $76.63

Gold @ $1877.80

Canadian % @ .6624

Portfolio ARKK LSPD MGM SOL

Stocks which were UP 2% or more included ARKK LSPD 

GOOS EXAS DAL AAL JKS CSIQ MRVL NIO TSLA 

HOOD CRM COIN TSM ROKU BMBL RCL MSTR

AMD SNOW LYFT UBER DOCU ZI ESTC DDOG

NVDA SPLK BABA OLED DLB LVS AMAT 

RH BROS CMG....

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE was strong @ open then a Fed official had extremely negative remark, that, there will not be any decrease in Fed Funds rate until 2024, a far cry from 2nd half expectations. DOW & S&P 500 went red only Nasdaq ignored negativity and closed higher. Internals were mostly strong @ close.

BLOG does NOT give buy or sell.

Saleem

Message of US stock market....

 Message of the stock market is very different from " noise of the market "

Noise generally is about trend which has happened

Message of the market is about "subtle change in internals of the market "

After 30 months of noise and bear trend.....there IS hope

First of all, all noise aside, October low was NOT taken out in relentless selling of year end booking of losses, it was very easy to take out October lows BUT we did not....

Not only October lows were NOT taken out but June 2020 lows were not taken out either, so 30 months lows were in tact......

Noise was @ loudest going into year end selling, but more smart buyers were waiting for any selling and kept buying.....

Friday's TAPE was very significant, we broke the downtrend line and closed higher than that resistance.

Besides technical action for the positive, inflation rate is finally trending down NOT for 1 month but last month was also revised down 2 notches from .6% which caused horrendous selling to .4% and this month stat came in better than expected .3%....from a feared .6% wage inflation we are down 50% to .3% wage inflation.....thus a strong rally .....

Looking @ obvious facts of the market which becomes noise, Oil & Gold has performed well...BUT that could be yesterday's news.....

On Friday's rally ..guess which sector was the-best performing....Not Oil Not Gold....BUT much ignored and much hated Technology stocks.....QQQ was UP 2.76% 

Hopefully, we are transitioning from " noise based " to " real message of the market "

It IS important to be positioned in beaten down frothy stocks of past....AAPL TSLA all celebrating new lows...BUT may be headed into future new high list IF we stay patient...

Based on the change in " inflation picture " we may be headed higher in the near term...

Based on the above, we may be looking @ minimum 5% higher in Nasdaq, S&P 500 & DOW

Then normal market action, consolidation & UP.

YES...you need a well diversified portfolio of strong fundamentals like Gaming, Restaurants, Technology.....

This market has build a strong base in last 7 months which may result in downtrend to be decisively broken in next move.

Good luck with your own understanding & strategy.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 2.13% to 2.56%...NICE !!!

 Indices closed up despite hotter than expected jobs report, wage inflation was .1% lower than expected which fueled this rally. Even TSLA & AAPL closed in green. TSLA reduced prices in China which prompted a new low before rallying.

S&P 500 @ 3895.08, high 3906.19, low 3809.56

RSI @ 51.61

CMF @ 0.015

Internals were :

UP volume led by 7.12 to 1 in NYSE & 2.04 to 1 in Nasdaq

Advancing stocks led by 6.69 to 1 in NYSE & 2.56 to 1 in Nasdaq

Net new highs were leading by 44 in NYSE & 32 in Nasdaq

VIX Down 5.92% @ 21.13

Oil @ $73.77

Gold @ $1869.70

Canadian $ @ .6545

Stocks which were UP 4% or more included MGM SOL

JKS CSIQ FSLR AMAT MRVL MOS CCJ TECK SQ

CRM X CNQ MGNI FCX CLF ZM ELF TER ASML

NVDA LRCX OLED CIEN MA OSTK....

Here is my portfolio weighting :

ARKK       60.14%

MGM        23.07%

LSPD       11.36%

SOL          5.43%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed down 1.02% to 1.47%....

 Indices closed down.

S&P 500 @ 3808.10, low 3802.42, high 3839.74

RSI @ 42.97

CMF @ -0.042

Internals were :

Down volume led by 1.61 to 1 in NYSE 1.37 to 1 in Nasdaq

Declining stocks led by 1.58 to 1 in NYSE & 1.44 to 1 in Nasdaq

Net new highs were leading by 0 in NYSE & 17 in Nasdaq

VIX UP 2.04% @ 22.46

Oil @ $73.67

Gold @ $1840.60

Canadian $ @ .6417

Portfolio ARKK LSPD MGM SOL

Stocks which closed green included

GOOS DAL XPEV PDD UAL AAL NCLH

CCL RIOT NTR MOS TJX MU LULU

CCJ GE TECK RCL FCX CLF KBH 

CVX SLB OXY SU EAT BROS 

BYND EXPE RH ULTA....

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE was under selling pressure again and closed @ low of the day. ADP jobs data was strong thus fear of Fed higher for longer crept in. @ 830 AM, It Is again about jobs data which IS extremely volatile and may give bulls a break.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .40% to .75%...NICE !!!

 Indices closed UP.

S&P 500 @ 3852.97, high 3873.16, low 3815.77

RSI @ 46.99

CMF @ -0.032

Internals were :

UP volume led by 6.03 to 1 in NYSE & 4.50 to ! in Nasdaq

Advancing stocks led by 4.30 to 1 in NYSE & 2.74 to 1 in Nasdaq

Net new highs were leading by 30 in NYSE & 46 in Nasdaq

VIX Down 3.89% @ 22.01

Oil @ $72.84

Gold @ $1859.00

Canadian $ @ .6503

Portfolio ARKK LSPD MGM SOL

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

DAL UAL AAL XPEV NIO TSLA JD PDD BABA NCLH CCL RCL

SNAP AFRM MU AG PAAS GOLD GE M WYNN LVS DKNG

MSTR COIN CSIQ PENN NFLX LAC JWN ROKU RH BROS...

AH Futures Down

AH Asian Markets UP

AH Oil & Gold UP

About market, TAPE went UP & closed near high of the day despite hawkish Fed minutes and negative Fed speak by Neil Kashkari. IF we close UP on Thursday It means market may have discounted rates fear. Internals were strong. AMZN & MSFT were in bearish mode.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .03% to .76%....

 Indices closed down.

S&P 500 @ 3824.14, low 3794.33, high 3878,46

RSI @ 43.86

CMF @ -0.076

Internals were :

UP volume 1.04 to 1 in NYSE & 1.02 to 1 in Nasdaq

Advancing stocks led by 1.42 to 1 in NYSE & 1.19 to 1 in Nasdaq

Net new highs were leading by 16 in NYSE & 18 in Nasdaq

VIX UP 5.68% @ 22.90

Oil @ $76.93

Gold @ $1846.10

Canadian $ @ ,6333

Portfolio ARKK LSPD MGM SOL

Stocks which closed green included XPEV JD PDD BABA BIDU

JKS SHOP MGA PYPL CRM LULU GE SQ WYNN LVS PAAS

CLF MSTR GOLD NEM AEM DOCU UBER KBH EAT UPS

BA TWLO META AMZN ORCL NKE....

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE was under selling pressure again but trimmed its losses by close. Internals were mostly positive. TSLA & AAPL continued its downward run to new lows again. Fed minutes is being released @ 2 PM which may confirm Fed tough hawkish stand by its voting members.

BLOG does NOT give buy or sell.

Saleem

US stock market in 2023.....

 2022 US stock market is in rear view mirror....

Many traders will keep looking in rear view to deal with uncertainties of world & US stock market.

China also is a factor going forward..

COVID-19 is a factor

Inflation is a factor

Inventory hangover is a factor

Russia / Ukraine war still impacting

Last but not the least Interest rates are a huge factor

When there are so many uncertainty going forward PE is taken down....

Biggest question in the market IS........how much more BLOOD going to be after Nasdaq slumped almost 33% +-

Nasdaq has faced a long 30 month slide since July 2020.....

Nasdaq may or may NOT be @ bottom yet BUT most of the damage is already done in majority of stocks....

NOBODY even technicians predicted 33% slump or 30 months slump, most technicians came ALIVE near 4000 in S&P 500...with their well defined downtrend.....

We ended the year very badly with Put / Call ratio @ 1.5 to 1 lowest since 2001....a 22 year low....

YES all records are made to be broken BOTH on the UP move and DOWN move.....BUT we are @ historic low...

NOBODY has or can BUY @ the absolute low ever.....BUT to buy near LOWS is a stroke of GENIUS & GUTS...or may be just plain LUCK

Another factor to think of IS record amount of cash being held on the sideline, highest cash to DEPLOY since 2006...a 16 year high.....

Based on all of the above known & unknown...It IS the right time to be exposed on the bullish side...as the market shows FIRMNESS then more & more allocation should be done.

YES....we all had a very BAD year as most stocks have slumped 50% in last 30 months.....

My loss for the year is 26.54%......

Good luck with your own analysis and comfort level.

BLOG does NOT give buy or sell.

Saleem