Sunday, March 19, 2023

US stock market verdict is in.....

 US stock market has given a clear verdict in all this turmoil of regional banking sector...

FED is retracting

ECB is retracting

Yield is coming down

Bond is in turmoil

Gold is flying

Crypto is IN

HOW THINGS changed in few business days.....

Wall Street & Stock market surprises everyone including the best & seasoned institutions

Few days ago all Fed officials were super super hawkish...NOW no one is coming to CNBC morning or afternoon...guess why.....NOW PAIN is their own trading accounts BLIND TRUST or OPEN

In all this hawkish scenario......for months......

TWO sectors have defied any logic as prevails on Wall Street for months.....

They are

Nasdaq & SOX

Both are above 50 DMA, 200 DMA

& GUESS WHAT

They both are making Golden Cross decisively

That is the-real trend in this difficult market.....

AMD has broken out....YES

NVDA is outperforming in a hurry

Next wave of AI is behind all this

MSFT META all got a bid

Making money in Wall Street IS NEVER easy but getting on board a TREND is the name of the game

In RSI numbers SOX @ 57.74 is the-best performing followed by Nasdaq @ 53.56

SO..in all major technical reading SOX & Nasdaq keep outperforming

Guess which IS the-WORST sector IS based on RSI XLF with a reading of 25.36....

2nd worst IS XLE @ 29.32

IWM is third-worst @ 31.27

Moral of the story IS...there is a well defined UPTREND

This UPTREND IS the NEW WAVE

Get on board......

Train has left the station already, try to play CATCH UP

Good luck on your own thesis and comfort level.

BLOG does NOT give buy or sell.

Saleem


2 comments:

stocktrader_1996 said...

Hi Saleem,

Last week: -3.47% (YTD: +18.58%)
Portfolio Leaders: BMEA PINS
Portfolio Laggards: SOXS ZENV

The NASDAQ was the star of the week as a "flight to quality" rush spurred major gains, very divergent from the Russell 2000's weekly losses. I did well to reduce exposure in my risky stocks, but failed in making the SOXS investment as semiconductors were a star performer. Going forward, I am still highly concerned about the small business lending environment and think many tech stocks are vulnerable from a business outlook perspective, even as the Fed will likely pause rate hikes either now or shortly, with rate cuts potentially soon as inflation eases gradually. This leaves me with net short exposure right now, but I may move more towards neutral as the short term crisis seems more settled.

Holdings: SOXS (40%), ZENV (4%), cash 56%

Stocktrader

Stocks100 said...


Hi Stocktrader,

Last week UP 8.33%

YTD UP 18.50%

Saleem