Indices closed down .10% to .71%...

 Indices closed down.

S&P 500 @ 3970.15, low 3968.98, high 3997.50

RSI @ 42.16

CMF @ 0.087

Internals were :

Down volume led by 1.43 to 1 in NYSE & .80 to 1 in Nasdaq

Declining stocks led by 1.13 to 1 in NYSE & .79 to 1 in Nasdaq

Net new highs were leading by 38 in NYSE & 3 in Nasdaq

VIX Down 1.19% @ 20.70

Oil @ $77.05

Gold @ $1836.70

Canadian $ @ .6380

Portfolio ARKK AI LCID MRVL SHOP SOL

Stocks which closed UP 2% or more included ARKK LCID

LSPD EXAS XPEV PDD JKS UAL SNAP RUN AMAT

AFRM HOOD SQ COIN X ROKU BMBL WYNN LVS

AAL FCX CLF DOCU CIEN LITE VICR TWLO META 

AH Futures Down

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE closed near low of the day after being UP @ open, NOT a great technical picture, looks like another retest of support coming shortly. Weakness needs to be bought and any profits must be taken. Rotation seems to be working which IS a good thing.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .22% to .63%...NICE !!!!

 Indices closed UP.

S&P 500 @ 3982.24, high 4018.05, low 3973.55

RSI @ 43.36

CMF @ 0.096

Internals were :

UP volume led by 1.13 to 1 in NYSE & 1.99 to 1 in Nasdaq

Advancing stocks led by 1.69 to 1 in NYSE & 1.42 to 1 in Nasdaq

Net new highs were leading by 40 in NYSE & lows by 1 in Nasdaq

VIX Down 3.32% @ 20.95

Oil @ $75.68

Gold @ $1824.90

Canadian $ @ .6420

Portfolio ARKK AI LCID MRVL SHOP SOL

Stocks which closed UP 1% or more included LCID MRVL SOL

GOOS DAL XPEV PDD JKS TPR RUN FSLR SPWR ENPH

SEDG MOS MGA CCJ TECK X RCL LAC MGNI CLF 

MSTR BIDU DKNG SNOW CSIQ PANW DOCU TOL

DDOG UPS ELF BA VICR TSLA EXPE NFLX LAC

FSR CMG....

AH Futures UP

AH Asian Markets UP

AH Oil & Gold Down

About market, TAPE tried to recover from last week deeply oversold condition and closed green. Internals were positive. Treasury yield backed off which gave Nasdaq room to find pulse. It Is going to be a slow recovery in equities as many were caught in last week selloff, Investors / traders confidence was shaken which takes time & funds.

BLOG does NOT give buy or sell.

Saleem

US Stock market selloff an opportunity....

 US stock market is in sell sell mode.

PCE took the wind out of optimism for peak in Fed funds rate...

Stock market does not like surprise in any indicator least of all inflation

Inflation has been in upward swing in 4 set of stats lately, that is an overwhelming statistics to deal with...

SO bad news on Inflation came and we tanked accordingly....

BUT that is done and over with....

Market knows now that we may go to 5.5% in Fed Funds rate

Based on known facts now.....US stock market starts regrouping and takes small steps for traders and Investors.

YES...Warren Buffett is right when he says " be greedy where there is blood on the street "

Look @ ARKK & my portfolio, It got decimated last week...enough blood already..

SO...start buying or adding which I have been doing for an eventual recovery in equity prices...

SO...look @ your portfolio and see IF you have been too optimistic in some of your holdings and may need trimming or outright sale....

There is always opportunity in every selloff, no different this time...

Fastest money Is made when you buy near the end of selloff or near end.

Good luck with your own thesis and comfort level.

BLOG does NOT give buy or sell.

Saleem

Indices closed down1.02% to 1.69%....

 Indices closed down due to bogey of inflation which slightly ticked higher than expected, believe It or NOT, we closed near high of the day in much feared S&P 500.

S&P 500 @ 3970.04, low 3943.08, high 3978.25

RSI @ 41.81

CMF @ 0.118

Internals were :

Down volume led by 2.48 to 1 in NYSE & 3.61 to 1 in Nasdaq

Declining stocks led by 3.0 to 1 in NYSE & 2.98 to 1 in Nasdaq

Net new lows were leading by 19 in NYSE & 108 in Nasdaq

VIX UP 2.51% @ 21.67

Oil @ $76.32

Gold @ $1817.10

Canadian $ @ .6376

Stocks which closed green included

CNX SU CCJ GE SQ SAVE

CNQ CVX SLBSCHW

BYND OLED.....

In my portfolio bought MRVL @ $$43.60

Here is my portfolio weighting :

ARKK          31.46%

SHOP         30.16%

AI              18.34%

MRVL      11.96%

LCID        6.50%

SOL         1.58%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .33% to .72% NICE !!!

 Indices closed UP.

S&P 500 @ 4012.32, high 4028.30, low 3969.18

RSI @ 45.86

CMF @ 0.141

Internals were :

UP volume led by 1.43 to 1 in NYSE & 1.24 to 1 in Nasdaq

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

Net new highs were leading by 16 in NYSE & lows  by 49 in Nasdaq

VIX Down by 5.16% @ 21.14

Oil @ $75.39

Gold @ $1826.80

Canadian $ @ .6430

In my portfolio added 100% AI @ $22.34

Portfolio ARKK AI LCID SHOP SOL

Stocks which were UP 2% or more included AI

MRVL PDD JKS UAL APA SNAP

AMAT AMD MU TSM QRVO TER

MOS BMBL LAC TOL KBH SEDG

NVDA LNG ORVL....

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE was going UP after open then inflation scare came in downward revision of GDP in USA and market went down in a hurry. By close there was no inflation and market went UP and closed green in all Indices. Tomorrow @ 830 AM world will stop breathing again due to inflation phobia, IF negative for market keep buying good stocks as they go on sale.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 3991.05, low 3976.90, high 4017.37

RSI @ 43.29

CMF @ 0.164

Internals were :

Down volume led by 1.02 to 1 in NYSE & .87 to 1 in Nasdaq

Declining stocks led by 1.03 to 1 in NYSE & 1.08 to 1 in Nasdaq

Net new lows were leading by 15 in NYSE & 77 in Nasdaq

VIX Down 2.54% @ 22.29

Oil @ $73.95

Gold @ $1841.50

Canadian $ @ .6455

Portfolio ARKK AI LCID SHOP SOL

Stocks which closed UP 1% or more included ARKK AI SHOP

EXAS JKS CSIQ FSLR TPR UAL BTR MOS FSLR NIO

AFRM GE SQ CRM ROKU BMBL POMS PANW DDOG 

PENN SOCU ZI ZM TOLMTCH CRWD ESTC EAT

BYND TSLA AMZN SPLK LNG LVS BROS ULTA....

AH Futures UP

AH Asian Markets Down

AH Oil UP

AH Gold Down

About market, TAPE closed mixed despite Fed minutes being released and repeat of same old same old, thus a big yawn from traders / Investors. Nasdaq showing its muscle again and after hours NVDA lit fire for Nasdaq, happy days may be here again & again.

BLOG does NOT give buy or sell.

Saleem

Indices closed down 2.00% to 2.50%....

 Indices closed down

S&P 500 @ 3997.34, low 3995.19, high 4052.35

RSI @ 43.86

CMF @ 0.204

Internals were :

Down volume led by 7.19 to 1 in NYSE & 3.81 to 1 in Nasdaq

Declining stocks led by 7.08 to 1 in NYSE & 4.23 to 1 in Nasdaq

Net new lows were leading by 2 in NYSE & 79 on Nasdaq

VIX UP 7.72% @ 22.87

Oil @ $76.16

Gold @ $1842.59

Canadian $ @ .6483

Portfolio ARKK AI LCID SHOP SOL

Stocks which closed green included 

TOST HST SU NTR PYPL X

TRIP FVX CLF PINS ABBV

AEM SLB LVS.....

AH Futures UP

AH Asian Markets Down

AH Oil & Gold UP

About market, TAPE was under intense selling pressure because economic news in USA & Canada was better than expected, thus fear of higher Interest rated for longer time put fear in most trader and Fed was smiling. AH earnings report were better than expected, futures looking green.

BLOG does NOT give buy or sell.

Saleem

US stock market minus DOW....real story $$$$

 US stock market has surprised many in the last 3 years....

First many stocks quadrupled in stay @ home frenzied buying, It was an all IN investing idea.

Second other travel related stocks tanked losing 75% of its value....

Then came supply and Inflation shocker......

Retirement took hold resulting in labor shortage & wages shooting skyward..

Finally, demand all but dried up for stay @ home stocks

Nasdaq took its biggest hit finally and went straight down for 30 months and finally hit the floor

NOW as we saw 2023 approaching......performance & sectors reemerged.....

By 17th of February, 2023..less than 3 months later we have very interesting performance...

DOW has stayed flat in last 6 months.....a huge laggard...who could have predicted this...not even famous chartists, gurus and all pundits put together....

In less than 3 months following performance has emerged:

S&P 500 went UP 8.36%

RUSSELL 2000 went UP by 13.38%

Nasdaq went UP by 15.48%

SOX went UP by 22.93%

IF we listen to SOX...we are in a confirmed bull market notwithstanding Fed Governors efforts to bring equities to its knees....Fed has failed to stem inflows which will come with more intensity going forward.

YES...we are staring @ a strong bull market in strong sectors...

This week Nasdaq , SOX and Russell 2000 will move UP very quickly...writing is on the wall.....of Wall & Broad....

SO....ignore Fed, It IS all factored IN 5% rate is in the market....

SO...look @ your portfolio and see where your overweighting IS, hopefully in the right group of stocks...

We have a long long way to go to a series of new all time highs and DOW may limp along....

Good luck with your own analysis & conclusions....

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed after being under selling pressure on rising yield, 10 year yield went south and stock market went north. DOW was the superstar and it closed green. All Indices closed near high of the day.

S&P 500 @ 4079.09, low 4047.95, high 4081.51

RSI @ 52.17

CMF @ 0.267

Internals were :

Down volume led by 1.44 to 1 in NYSE & 1.27 to 1 in Nasdaq

Declining stocks led by 1.45 to 1 in NYSE & .92 to 1 in Nasdaq

Net new highs were leading by 39 in NYSE & 12 in Nasdaq

VIX Down .74% @ 20.02

Oil @ $76.34

Gold @ $1850.20

Canadian $ @ .6510

Stocks which closed green included LCID SOL

GOOS DAL UAL RIOT RUN AMAT SPWR

MGA TJX CCJ TECK BYD SAVE WYNN

MGNI MSTR PFE DKNG LYFT PENN

ENPH ABBV GILD NKE BYND MCD

META TSLA ROKU ...

In my portfolio :

Sold LSPD @ $22.10 in Toronto

Sold RBLX @ $41.40

Added 15% ARKK @ $41.00

Added 30% SHOP @ $43.30

Here is my portfolio weighting :

ARKK        39.79%

SHOP        37.23%

AI             11.33%

LCID        8.66%

SOL         2.99%

Next post on Monday around 6 PM as markets are closed in USA & Canada.

BLOG does NOT give buy or sell.

Saleem

Indices closed down 1.26% to 1.78%....

 Indices closed down.

S&P 500 @ 4090.41, low 4089.49, high 4136.64

RSI @ 53.48

CMF @ 0.277

Internals were :

Down volume led by 2.90 to 1 in NYSE & 2.56 to 1 in Nasdaq

Declining stocks led by 2.68 to 1 in NYSE & 1.99 to 1 in Nasdaq

Net new highs were leading by 67 in NYSE & 30 in Nasdaq

VIX UP 10.64% @ 20.17

Oil @ $78.49

Gold @ $1851.80

Canadian $ @ .6545

In my portfolio Sold 50% LSPD seconds before close @ $23.23 in Toronto

Portfolio ARKK AI LCID RBLX SHOP LSPD SOL

Stocks which closed green included

MGM XPEV JD PDD CNX

NTR MOS TECK ROKU

PAAS LAC MGNI FCX

CLF DOCU TWLO

LVS ULTA....

AH Futures Down

AH Asian markets Mixed

AH Oil & Gold Down

About market, TAPE was under pressure with PPI report which was hotter than expected, then came Fed brigade with their 50 basis next increase prediction, please note one speaker was not even a voting member BUT damage was done and we closed near low of the day. Further selling continued in after hours. We have just about eliminated all the " froth " from this market in after hours low low price. Monday we are close, so any buying / repositioning should be done on Friday as RSI is very tempting on most stocks NOW.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .11% to .92%...NICE !!!

 Indices closed UP.

S&P 500 @ 4147.60, high 4148.11, low 4103.98

RSI @ 60.57

CMF @ 0.304

Internals were :

UP volume led by 1.63 to 1 in NYSE & 2.0 to 1 in Nasdaq

Advancing stocks led by 1.21 to 1 in NYSE & 1.71 to 1 in Nasdaq

Net new highs were leading by 79 in NYSE & 30 in Nasdaq

VIX Down 3.60% @ 18.23

Oil @ $78.59

Gold @ $1845.30

Canadian $ @ .6595

In my portfolio :

Sold MRVL @ $46.50

Bought RBLX @ $$44.00

Added 250% SHOP.TO @ $71.41

Portfolio ARKK AI LCID LSPD RBLX SHOP SOL

Stocks which were UP 5% or more included

ARKK AI LCID LSPD RVLX SHOP

TTD PLTR RUN SPWR AFRM

HOOD COIN ROKU MGNI

MSTR DASH DKNG CSIQ

LYFT SEDG BYND RIOT

OSTK....

AH Futures UP

AH Asian Markets UP

AH Oil & Gold UP

About market, TAPE erased all the losses from higher than expected retail sales and closed in green @ high of the day what a reversal on every strong data. This market has the feel of famous Y2K rallies which kept going and going. Most earnings report after hours has been better than expected except SHOP whose Sales guidance was shy of expectations, high teens vs 20% expected.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 4136.13, low 4095.01, high 4159.77

RSI @ 59.58

CMF @ 0.213

Internals were :

Down volume led by 1.03 to 1 in NYSE & ,73 to 1 in Nasdaq

Declining stocks led by 1.02 to 1 in NYSE & 1.14 to 1 in Nasdaq

net new highs were leading by 101 in NYSE & 5 in Nasdaq

VIX Down 7.03% @ 18.91

Oil @ $79.06

Gold @ $1865.40

Canadian $ @ .6629

In my portfolio bought SHOP.TO @ $65.50

Portfolio ARKK AI LCID LSPD MRVL SHOP SOL

Stocks which were UP 2% or more included ARKK AI MRVL SHOP

TTD PLTR RIOT CCL AFRM MU SQ COIN X TRIP ROKU

DASH AMD DKNG SNOW LYFT DOCU CRWD DDOG

MRNA LSCC NVDA TSLA EXPE LAC OXY RH

PANW MSTR....

AH Futures Down

AH Asian Markets Mixed

AH Oil Down

AH  Gold UP

About market, TAPE was under pressure from higher than expected CPI BUT Nasdaq closed green which shows where the strength IS in this market. Retail Sales are next any weakness will give huge boost to overall market. Momentum is on the buy side which should be obvious to even skeptics. Do NOT overthink this market, the ball is in Nasdaq court.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 1.11% to 1.48%...NICE !!!

Indices closed UP.

S&P 500 @ 4137.29, high 4138.90, low 4092.67

RSI @ 59.72

CMF @ 0.172

Internals were :

UP volume led by 3.51 to 1 in NYSE & 1.96 to 1 in Nasdaq

Advancing stocks led by 2.96 to 1 in NYSE & 1.67 to 1 in Nasdaq

Net new highs were leading by 85 in NYSE & 16 in Nasdaq

VIX Down .93% @ 20.34

Oil @ $80.14

Gold @ $1863.50

Canadian $ .6647

Portfolio ARKK AI LCID LSPD MRVL SOL

Stocks which closed UP 2% or more included MRVL SOL

EXAS LULU PDD BIDU NCLH RCL CCL RUN FSLR

SEDG SPWR MGA SQ CRM JBLU RCL QRVO MSTR

DASH AMD NVDA CLOU SNOW MSFT ZI ZM CRWD

ESTC DDOG ELF META EXPE NFLX RH BROS 

ORCL OSTK...

AH Futures Down

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, TAPE was strong and closed @ high of the day, Internals were positive. Nasdaq was the strongest again, momentum is IN. It is all about CPI which may become a non event by close as TAPE wants to go UP. When FEAR is rampant about any single event and market has rested then it goes against grain / pundits.

BLOG does NOT give buy or sell.

Saleem

US stock market mixed picture....

 US stock market is showing a mixed picture.....

DOW is strong

Financial strong

SOX strong

S&P & Nasdaq is showing weakness

There IS divergence NOW

Rotation is going ON

TAN or Solar is the weakest in my universe

IS Nasdaq & S&P 500 going through its normal digestive phase ?

Within Nasdaq semiconductors are showing renewed strength, so It Is a mixed picture.

Stock picking IS becoming more crucial @ this stage of rally, all boats are not being lifted anymore.

Some Nasdaq stocks are correcting very fast  from its recent surge...

Thematic selling is getting overdone like GOOG / AMZN

Going forward, It IS important to book profit when its there.

It IS becoming a day traders or swing trading market @ best....

It is very important to notice these changes in profile of this market.

Fed officials have tried very hard to push this market down and may have succeeded last week.

BUT market has its own rhythm and will show its buying frenzy this week....

Conviction plus strategy IS the key to book profit.

Oil stocks are defying low oil prices, may NOT last long.....

Good luck with your own analysis and comfort level.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed on 10 year rate direction. Market closed near high of the day despite Fed focus on higher Fed funds rates.

S&P 500 @ 4090.46, high 4094.36, low 4060.79

RSI @ 55.76

CMF @ 0.170

Internals were :

Down volume led by .84 to 1 in NYSE & 1.58 to 1 in Nasdaq

Declining stocks led by 1.03 to 1 in NYSE & 1.35 to 1 in Nasdaq

Net new highs were leading by 24 in NYSE & lows by 23 in Nasdaq

VIX Down .87% @ 20.53

Oil @ $79.72

Gold @ $1874.50

Canadian $ @ .6633

Stocks which closed green included AI SOL

JKS CNX APA NTR MOS PYPL CCJ GE

BYD AAPL CNQ SCHW IBM PFE NEM

TOL NTAP TD ENPH ABBV CVX BMO

SEDG UPS MRNA DHI PHM BA MCD

OXY SLB LNG YELP SU BROS MS

ORCL MS....

In my portfolio :

Bought AI @ $22.70

Bought MRVL @ $44.30

Here is my portfolio weighting :

ARKK       34.10%

MRVL      22.39%

LSPD       20.37%

AI            11.55%

LCID        8.40%

SOL         3.19%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .73% to 1.02%....

 Indices closed down.

S&P 500 @ 4081.50, low 4069.67, high 4156.23

RSI @ 54.98

CNF @ 0.161

Internals were :

Down volume led by 3.15 to 1 in NYSE & 2.48 to 1 in Nasdaq

Declining stocks led by 2.74 to 1 in NYSE & 2.37 to 1 in Nasdaq

Net new highs were leading by 74 in NYSE & 25 in Nasdaq

VIX UP 5.50% @ 20.71

Oil @ $98.06

Gold @ $1878.50

Canadian $ @ .6570

In my portfolio Sols MGM @ $45.00

Portfolio ARKK LCID LSPD SOL

Stocks which closed green included MGM

LULU PDD TPR CBX AMAT NTR TJX

CCJ CRM TSM TRIP WYNN SWKS

LAC SNOW CSIQ NXPI DDOG

ABBV ELF LSCC NVDA TSLA

SPLK BABA.....

AH Futures Mixed

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE was nicely UP when 10 year yield jumped and down went the market and closed near low of the day, a very disappointing action to reverse and close near low, Internals were negative. It IS important to book profit as we get overbought. Buying should be done opportunistically.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .61% to 1.68%....

 Indices closed down.

S&P 500 @ 4117.86, low 4111.67, high 4156.85

RSI @ 58.92

CMF @ 0.2444

Internals were :

Down volume led by 2.47 to 1 in NYSE & 2.32 to 1 in Nasdaq

Declining stocks led by 2.07 to 1 in NYSE & 2.21 to 1 in Nasdaq

Net new highs were leading by 65 in NYSE & 55 in Nasdaq

VIX UP 5.20% @ 19.63

Oil @ $78.47

Gold @ $1890.70

Canadian $ @ .6566

In my portfolio added 25% ARKK @ $41.90

Portfolio ARKK LCID LSPD MGM SOL

Stocks which closed green included LSPD

UAL TJX X TRIP RCL WYNN CNQ

AI DASH IBM PFE DKNG PANW

UBER DDOG SEDG BYND

TSLA NFLX SLB RH....

AH Futures UP

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE closed near low of the day on Fed scare tactics, Internals were weak. Nasdaq was the weakest with GOOG in AI weakness. After hours earnings were better than expected, this has lit up the futures. Market is making higher highs and higher lows on any digestion of gains.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .78% to 1.90%...NICE !!!

Indices closed UP.

S&P 500 @ 4164.00, high 4176.54, low 4088.34

RSI @ 64.36

CMF @ 0.321

Internals were :

UP volume led by 1.89 to 1 in NYSE & 1.52 to 1 in Nasdaq

Advancing stocks led by 1.68 to 1 in NYSE & 1.42 to 1 in Nasdaq

Net new highs were leading by 71 in NYSE & 63 in Nasdaq

VIX Down 3.96% @ 18.66

Oil @ $77.14

Gold @ $1884.80

Canadian $ @ .6557

Portfolio ARKK LCID LSPD MGM SOL

Stocks which were UP 1% or more included ARKK LSPD MGM

LULU NCLH MRVL APA AMAT MU QRVO QCOM SWKS

TECK BYD DKNG PENN JBLU TSM RCL LAC BIDU

AMD MSFT PANW LYFT NXPI DOCU ZI ZM

CRWD ESTC UBER DDOG CVX BA NVDA

TWLO CRUS GOOG OXY....

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE closed near high of the day after Fed Chief did not deviate from his last Q&A. Market likes no surprise. Now It IS all about State of the Union speech, market expects usual upbeat speech. Nasdaq keeps on surprising any remaining skeptics as It has become the new face of Bull Market. Tremendous money needs to be in the market for 2023 allocation.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .10% to 1.00%....

 Indices closed down.

S&P 500 @ 4111.08, low 4093.38, high 4124.63

RSI @ 60.47

CMF @ 0.239

Internals were :

Down volume led by 2.57 to 1 in NYSE & 1.39 to 1 in Nasdaq

Declining stocks led by 3.36 to 1 in NYSE & 1.98 to 1 in Nasdaq

Net new highs were leading by 41 in NYSE & 59 in Nasdaq

VIX UP 6.00% @ 19.43

Oil @ $74.11

Gold @ $1879.50

Canadian $ @ .6552

Portfolio ARKK LCID LSPD MGM SOL

Stocks which were UP 1% or more included LSPD LCID

SNAP SCHW AI DASH PINS UBER SEDG GILD

MCD TSLA.....

AH Futures UP

AH Asian Markets UP

AH Oil & Gold UP

About market, TAPE closed lower in anticipation of State of the Union address and Fed Chief take on recent data that is, Friday's jobs report. I believe that 2 days of soft close should be enough for digestion of gains of last 6 weeks. Time to add or start a new position again.

BLOG does NOT give buy or sell.

Saleem

US stock market remains strong.....

 US stock market has defied logic, chartist, shorts, pundits and Fed....

BUT...there is a change...all are changing their tune ....

Biggest surprise of 2023 is Nasdaq...which IS running away from scared traders...

Internals of this market has the hallmark of a " major bull market "

Please pat attention to technicals of market, each stocks and sectors....writing is on the wall..

Fundamentals of sectors and individual stocks are @ best " murky "

COVID-19 has played havoc with world economies thus affecting each stocks with great intensity

Too much supply disruption in 3 years of shutdown related issues.

Too much inflation

Too much wage spiral

All these are affecting Sales, EPS and balance sheets of each company

SO...It will take time and execution to recover and adjust to new realities...

World is witnessing " runaway Inflation "...get used to it...factor this in your every decision or else you will be left behind with cash flow issues...

BUT US stock market is looking ahead and see major improvements in each and every challenges

In my universe of 9 sectors which I monitor...7 sectors / Index are showing " Golden Cross "

Do not recall so many golden cross this early in any bull market....remember end of December Nasdaq was making 30 months low.....

Nasdaq & XLE are the only 2 area which IS missing " golden cross "

XLE is tanking big time with lowest RSI of 41.85

Nasdaq RSI is a very bullish 67.34...Golden Cross to come soon.....

Strongest RSI is in DOW @ 71.32

Russell 2000 is the 2nd best RSI @ 69.54...with golden cross

These were just a few summation of strong Technicals & Internals of this market...Fundamentals will follow in time...

Invest / Trade this market with lot of conviction, do not look @ normal pullbacks of a very strong market...

Patience IS key in making serious money with a clear cut strategy of strong stocks....

Good luck with your own strategy and comfort level.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .38% to 1.59%....

 Indices closed down on profit taking and reaction to super-hot jobs report in 53 years. Internals were negative BUT VIX came down again.

S&P 500 @ 4136.48, low 4123.36, high 4182.36

RSI @ 53.56

CMF @ 0.269

Internals were :

Down volume led by 3.16 to 1 in NYSE & 1.48 to 1 in Nasdaq

Declining stocks led by 2.82 to 1 in NYSE & 1.66 to 1 in Nasdaq

Net new highs were leading by 129 in NYSE & 118 in Nasdaq

VIX Down 2.14% @ 18.33

Oil @ $73.39

Gold @ $1876.60

Canadian $ @ .6601

Stocks which closed green included MGM

GOOS X BYD AAPL SCHW

AI IBM PENN CVX EAT 

ELF MCD TSLA CRUS 

JWN SLB LVS CMG V...

Here is my portfolio weighting :

ARKK       38.14%

LSPD       25.71%

MGM       19.45%

LCID       12.31%

SOL          4.39%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 4179.76, high 4195.44, low 4141.88

RSI @ 69.14

CMF @ 0.273

Internals were :

UP volume led by 1.81 to 1 in NYSE & 4.06 to 1 in Nasdaq

Advancing stocks 2.29 to 1 in NYSE & 2.55 to 1 in Nasdaq

Net new highs were leading by 253 in NYSE & 172 in Nasdaq

VIX UP 4.81% @ 18.73..new 52 wk low today 17.06

Oil @ $75.88

Gold @ $1930.80

Canadian $ @ .6679

In my portfolio :

Sold 40% ARKK @ $44.60

Added 30% LSPD @ $22.69

Added LCID @ $12.38, @ $12.30

Portfolio ARKK LCID LSPD MGM SOL

Stocks which closed UP 3% or more included ARKK SOL

EXAS UAL NCLH SHOP RIOT MRVL SNAP RUN

CCL AMAT AFRM PYPL SQ COIN JBLU ROKU 

MSTR DASH PINS AMD SNOW MSFT DOCU

ZI CRWD UBER DDOG ELF BYND META

AMZN GOOG JWN RH BROS...

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE closed @ new high in this major runup, Nasdaq was the superstar. Internals were strong, volume was high. After hour AAPL, GOOG & AMZN all disappointed with less than expected earnings, this IS taking a huge toll on Nasdaq Futures. Tomorrow @ 830 AM it IS all about jobs report and wage inflation, IF contained, then we may be able to offset earning miss to some extent.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 0.02% to 2.00%...NICE !!!!

 Indices closed UP.

S&P 500 @ 4119.21, high 4148.95, low 4037.20

RSI @ 65.17

CMF @ 0.265

Internals were :

UP volume led by 2.20 to 1 in NYSE & 4.29 to 1 in Nasdaq

Advancing stocks led by 2.86 to 1 in NYSE & 2.20 to 1 in Nasdaq

Net new highs were leading by 192 in NYSE & 150 in Nasdaq

VIX Down 7.89% @ 17.87...new 52 wk low...more to come...

Oil @ $76.41

Gold @ $1942.80

Canadian $ @ .6661

Portfolio ARKK LCID LSPD MGM SOL

Stocks which were UP 3% or more included ARKK LSPD

XPEV PDD BIDU NCLH RCL CCL RIOT COIN MRVL

RUN AMAT AFRM MU ROKU QCOM QRVO MSTR

AI AMD NVDA DKNG SNOW LYFT NXPI ZM CRWD

ESTC DDOG TSLA LRCX RH....

AH Futures Mixed

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE closed near high of the day once Fed chief acknowledged Inflation has come down and other economic activity has moderated, This was the signal market was waiting for. Watch shorts squeeze and new allocation come into play in Thursday trading. We have confirmed uptrend after today's close technically speaking. META earning was a homerun.

BLOG does NOT give buy or sell.

Saleem