Indices closed down .41% to .63%....

 Indices closed down.

S&P 500 @ 4179.83, low 4166.15, high 4195.44

RSI @ 55.27

CMF @ 0.046

Internals were :

Down volume led by 1.56 to 1 in NYSE & 1.13 to 1 in Nasdaq

Declining stocks led by 1.39 to 1 in NYSE & 1.37 to 1 in Nasdaq

Net new lows were leading by 126 in NYSE & 152 in Nasdaq

VIX UP 2.75% @ 17.94

Oil @ $68.08

Gold @ $1982.10

Canadian $ @ .6406

In my portfolio Bought AI @ $38.80

Portfolio ARKK AI MRVL SHOP

Stocks which closed UP 1% or more included ARKK

LSPD SQ COIN RBLX JD CNX NIO TECK CRM

SAVE PAAS AAL PFE SNOW INTC NEM ZM

DDOG TWLO TSLA AEM BABA SOFI LNG

NTNX MSTR....

AH Futures UP

AH Asian Markets Down

AH Oil Down

AH Gold UP

About market, TAPE was weak on weak Chinese data. It was a weak close reflecting pullback from massive gains in AI related stocks. AH earnings reports did not fared well @ all, worst one was AI which guided in line after huge run. It IS important to re-evaluate every stock on near term prospects. YES this TAPE remains tough. There is excitement tonight on Final passage of Debt ceiling.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 4205.52, high 4231.10, low 4192.18

RSI @ 59.44

CMF @ 0.042

Internals were :

Down volume led by 1.40 to 1 in NYSE & .63 to 1 in Nasdaq

Declining stocks led by 1.12 to 1 in NYSE & 1.20 to 1 in Nasdaq

Net new highs were leading by 5 in NYSE & lows by 17 in Nasdaq

VIX unchanged @ 17.46

Oil @ $69.46

Gold @ $1977.10

Canadian $ @ .6400

In my portfolio :

Bought MRVL @ $62.00

Sold AI @ $41.00

Portfolio ARKK MRVL SHOP

Stocks which closed UP 1% or more included ARKK AI

IONQ RIOT LSPD COIN RUN TTD PLTR SPWR

AFRM PYPL CRM AAPL ROKU QCOM MSTR 

SNOW INTC ZI ESTC ENPH ELF NVDA 

TWLO TSLA NFLX RH AMZN.....

AH Futures Mixed

AH Asian Markets Down

AH Oil & Gold UP

About market, TAPE closed mixed with Nasdaq @ sky high valuation BUT DOW plus Russell 2000 in dog house. Have not witnessed such a huge deviation in key indices. Tomorrow is last day of May, sell in May & go away may be a good strategy until next earnings report.

BLOG does NOT give buy or sell.

Saleem

US Stock market in major uptrend.....

 US stock market has displayed tremendous amount of strength when faced with recent challenges ....be it higher and higher interest rates...still interest rates going further UP

Highest inflation in decades has not deterred stock market from going UP & UP

Based on 2 factors above stated, stock market is sitting @ highest level since mid 2022....

IF you think we are overbought, it will be a huge error in investing / trading....

Majority of sectors / index are in deep neutral territory

Only Nasdaq is showing strength based on traditional measurements....like RSI....of 70.10 

SOX is best in entire market with RSI of 76.13

BUT....IF you look @ RSI of NVDA @ 83.70 & MRVL with RSI of 89.01......then everything else has lot of room to run.....

Moral of the story IS....in current TAPE you need to be patient even when you touch 80 RSI.....

Every market IS different, this IS a major bull market where many records / new all time highs could be shattered....

WHY you ask ?

I am sure, you have NOT heard of AI @ all.....???

This is a new paradigm....shift into series of new all time highs...

Look for your own preferred AI buy & sleep stock....

This IS a much bigger than Y2K.....

AI AI AI....keep repeating this mantra.....

Good luck with your own love with past or join the AI phenomenon...

AI will live for decades ....just like PC, Smartphone.....

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 1.00% to 2.19%...NICE !!!

 Indices closed UP on optimism about debt ceiling and AI push by technology companies. Internals were strong. Nasdaq was the strongest and almost took 13000 out.

S&P 500 @ 4205.45, high 4212.87, low 4156.16

RSI @ 59.43

CMF @ 0.027

Internals were :

UP volume led by 2,41 to 1 in NYSE & 2.54 to 1 in Nasdaq

Advancing stocks led by 2.43 to 1 in NYSE & 1.82 to 1 in Nasdaq

Net new highs were leading by 14 in NYSE & lows by 16 in Nasdaq

VIX Down 6.22% @ 17.95

Oil @ $72.67

Gold @ $1943.70

Canadian $ @ .6369

Stocks which were UP 2% or more included AI SHOP

SNAP MRVL PLTR PDD AMAT MU CRM TSM

ROKU BMBL QCOM QRVO SWKS FCX AMD

INTC MSFT NXPI PENN DOCU CIEN CRWD

ESTC LITE NVDA META TSLA LRCX 

AMZN NFLX JWN IONQ,,,,

In my portfolio added 12% SHOP @ $58.60

Here is my portfolio weighting...highly concentrated..

SHOP      53.55%

AI            26.48%

ARKK     19.97%

Next post by 6 PM on Monday.

Enjoy your long weekend!

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500  @ 4151.28, high 4165.74, low 4129.73

RSI @ 52.98

CMF @ 0.044

Internals were :

Down volume led by 2.28 to 1 in NYSE & 1.22 to 1 in Nasdaq

Declining stocks led by 1.98 to 1 in NYSE & 2.08 to 1 in Nasdaq

Net new lows were leading by 132 in NYSE & 115 in Nasdaq

VIX Down 4.44% @ 19.14

Oil @ $71.83

Gold @ $1943.70

Canadian $ .6359

In my portfolio:

Sold 46% ARKK @ 38.50

Added 60% AI @ $27.59

Portfolio ARKK AI SHOP

Stocks which closed UP 2% or more included AI

DAL AAL PLTR CCL AMAT MU TSM SCHW

AMD MSFT NXPI TOL ZM NTAP LITE 

SEDG ELF TER ASML NVDA LRCX

EXPE GOOG NTNX ORCL MS....

AH Futures Down

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, TAPE closed mixed in a stellar day where few stocks outperformed in the name of AI. On a day when Nasdaq was UP 1.71% internals were negative, never saw that before. Extremely narrow UP moves happening in this market.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .61% to .77%....

 Indices closed down.

S&P 500 @ 4115.24, low 4103.98, high 4132.96

RSI @ 47.85

CMF @ 0.084

Internals were :

Down volume led by 3.57 to 1 in NYSE & 2.15 to 1 in Nasdaq

Declining stocks led by 3.71 to 1 in NYSE & 2.34 to 1 in Nasdaq

Net new lows were leading by 108 in NYSE & 75 in Nasdaq

VIX UP 8.09% @ 20.03

Oil @ 74.34

Gold @ $1964.60

Canadian $ @ .6402

In my portfolio :

Sold SNAP @ $9.70

Added 25% AI @ $26.61...both in pre market

Portfolio ARKK AI SHOP

Stocks which closed UP 1% or more included AI SHOP

RBLX APA CRM M ROKU PINS SNOW PANW

TOL CRWD ELF BYND TWLO META AMZN

NFLX JWN RH BROS OSTK KBH....

AH Futures Mixed

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE was weak again but closed well above lows of the day. It is waiting game for debt limit negotiations / agreement. NVDA lit the fire in technology stocks in highlighting robust growth in AI.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .69% to 1.26%....

 Indices closed down.

S&P 500 @ 4145.58, low 4142.54, high 4185.68

RSI @ 52.31

CMF @ 0.056

Internals were :

Down volume led by 1.39 to 1 in NYSE & 1.54 to 1 in Nasdaq

Declining stocks led by 1.72 to 1 in NYSE & 1.26 to 1 in Nasdaq

Net new lows were leading by 14 in NYSE & highs by 11 in Nasdaq

VIX UP 7.67% @ 18.53

Oil @ $72.91

Gold @ $1974.50

Canadian $ @ .6510

In my portfolio :

Sold MGM @ $40.30

Added 150% AI @ $26.97

Portfolio ARKK AI SHOP SNAP

Stocks which closed green included SNAP

SQ RUN SAL UAL APA VVJ BMBL

MTCH PAAS PINS IBM CSIQ ESTC

CVX MRNA TWLO OXY LNG

YELP JKS.....

AH Futures UP

AH Asian Markets Down

AH Oil & Gold UP

About market, TAPE closed @ low of the day, Nasdaq was the weakest. This was a normal day in a wait & see to debt limit progress, so far reports indicating that progress is being made. Internals were weak. It was a good day to rejuggle portfolio.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 4192.63, high 4209.22, low 4179.68

RSI @ 60.42

CMF @ 0.046

Internals were :

UP volume led by 1.81 to 1 in NYSE & 2.44 to 1 in Nasdaq

Advancing stocks led by 1.54 to 1 in NYSE & 1.74 to 1 in Nasdaq

Net new highs were leading by 56 in NYSE & 16 in Nasdaq

VIX UP 2.38% @ 17.21

Oil @ $71.99

Gold @ $1977.20

Canadian $ @ .6482

In my portfolio...bought SNAP @ $9.90

Portfolio ARKK AI MGM SHOP SNAP

Stocks which were UP 3% or more included ARKK SHOP AI

SQ LSPD COIN RUN PDD RIOT NIO SPWR AFRM

CCJ ROKU BMBL DKNG CSIQ PENN DOCU

ZI MTCH TWLO TSLA JWN....AH Futures UP

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE closed mixed while Nasdaq making higher highs. Most sectors participated in today's mixed market. Internals were positive. AH debt ceiling off to an optimistic start which IS keeping futures in green.

BLOG does NOT give buy or sell.

Saleem

US stock market in " rotational stock pickers mode "

 US stock market generally speaking, is not an easy place to make money.

Gains have been concentrated either in few stocks or in an index.

After World War 2...It was industrial, railroads stocks

Then came nifty fifty

Then came Technology boom with PC

NOW it is all about AI

IF you are stuck in wrong stocks or in wrong sector...wait is endless to make money

Thus It is important to sense a change which IS taking place

It was almost 17 to 19 months ago that we made new all time highs in key averages....

Markets may have been slumping since BUT some key stocks are back to new all time highs while others lagged badly.

Thus It is important NOT to focus on headline numbers OR what is happening in majority of stocks....focus on emerging stocks which IS generally not talked about...

In order to get your focus right, It is important to see where general strength IS...

Based on latest RSI read ....Nasdaq remained hot hot hot with 67.83 RSI

SOX is second hottest with a read of 65.22 RSI

S&P 500 is in 3rd place with 60.34 RSI

The above read is important for those who want to invest / trade ETF

IF you want to know how far major indices are from all time high...

S&P 500 is only 12.45% away

SOX is only 21.2% away

Nasdaq is only 21.9% away

There is serious rotation happening on a daily basis, so it IS a trading market, daytrading or swing trading should be the focus....getting singles instead of home runs should be the style....

IF you look @ MSFT, AAPL & NVDA...these stocks are in new all time high arena.....CMG is doing great.....

BUT all the above may be taken over by new and emerging stocks...that is the issue with looking in rear view mirror.....

SO...do your own due diligence and find stocks which may " outperform " past / recent winners.....

Good luck with your own analysis and conclusions...

BLOG does NOT give buy or sell.

Saleem

Indices closed down .14% to .33%...

 Indices closed down on non resolution of debt ceiling.

S&P 500 @ 4191.98, low 4180.20, high 4212.91

RSI @ 60.34

CMF @ 0.077

Internals were :

Down volume led by 1.56 to 1 in NYSE & 1.37 to 1 in Nasdaq

Declining stocks led by 1.36 to 1 in NYSE & 1.19 to 1 in Nasdaq

Net new highs were leading by 50 in NYSE & 12 in Nasdaq

VIX UP 4.74% @ 16.81

Oil @ $71.55

Gold @ $1981.60

Canadian $ @ .6488

Stocks which closed green included SNAP

LSPD EXAS MRVL APA NIO MGA GE

AAPL CNQ PINS INTC NEM CIEN

CRWD CVX MCD TWLO TSLA

OXY SLB ORCL CMG IBM....

In my portfolio :

Sold SNAP @ $9.60

Bought AI @ $25.71

Added 25% SHOP @ $60.58 

Here is my portfolio weighting :

SHOP       47.97%

ARKK      36.10%

MGM      10.73%

AI            5.20%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .34% to 1.51%....NICE !!!!

 Indices closed UP.

S&P 500 @ 4198.05, high 4202.20, low 4153.50

RSI @ 61.40

CMF @ 0.120

Internals were :

Up volume led by 1.37 to 1 in NYSE & 1.50 to 1 in Nasdaq

Advancing stocks led by 1.30 to 1 in NYSE & 1.14 to 1 in Nasdaq

Net new highs were leading by 68 in NYSE & 12 in Nasdaq

Oil @ $71.86

Gold @ $1959.80

Canadian $ .6490

In my portfolio :

Sold LSPD @ $13.57

Added 40% SHOP @ $60.95

Portfolio ARKK MGM SHOP SNAP

Stocks which closed UP 1% or more included ARKK MGM SNAP

SQ SPOT EXAS MRVL PLTR JKS CNX AFRM MU AAPL

ROKU WYNN LVS PENN QRVO SWKS AMD SNOW 

CSIQ INTC ZI ZM CRWD EAT NVDA LRCX 

NFLX TSLA JWN RH MA AMZA....

AH Futures UP

AH Asian Markets UP

AH Oil & Gold UP

About market, TAPE closed @ high of the day and @ highest point since August 2022, a real breakout, an eight month resistance is taken out, Nasdaq looking very strong. Nasdaq closed strongest a runaway situation. Semiconductors came alive and raced higher with NVDA making a new high.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 1.19% to 1.28%...NICE!!!

 Indices closed UP.

S&P 500 @ 4158.77, high 4164.67, low 4113.62

RSI @ 56.84

CMF @ 0.073

Internals were :

UP volume led by 4.33 to 1 in NYSE & 4.49 to 1 in Nasdaq

Advancing stocks led by 2.95 to 1 in NYSE & 2.45 to 1 in Nasdaq

Net new lows were leading by 15 in NYSE & 58 in Nasdaq

VIX Down 6.23% @ 16.87

Oil @ $72.83

Gold @ $1984.90

Canadian $ @ .6512

In my portfolio added 20% SHOP @ $60.63

Portfolio ARKK LSPD MGM SHOP SNAP 

Stocks which closed UP 2% or more included ARKK LSPD MGM SNAP

SQ AI COIN MRVL DAL JKS UAL NCLH CCL M X WYNN

AAL MSTR CSIQ NXPI PENN DOCU ESTC NVDA RH

TSLA LRCX....

AH Futures Down

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, TAPE was strong and closed near high of the day, it was all about hope for a debt ceiling agreement by end of next week. Most stocks participated in this rally including regional banks which makes it quite broad based and technically strong rally. Internals were strong.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .18% to 1.01%....

 Indices closed down.

S&P 500 @ 4109.90, low 4109.86, high 4135.54

RSI @ 50.03

CMF @ 0.055

Internals were :

Down volume led by 5.72 to 1 in NYSE & 1.63 to 1 in Nasdaq

Declining stocks led by 4.05 to 1 in NYSE & 2.28 to 1 in Nasdaq

Net new lows were leading by 68 in NYSE & 130 in Nasdaq

VIX UP 5.08% @ 17.99

Oil @ $70.86

Gold @ $1933.00

Canadian $ @ .6541

In my portfolio :

Sold SQ @ $55.32

Bought SHOP @ $60.52

Portfolio ARKK LSPD MGM SHOP

Stocks which closed green included SPOT TTD

RBLX DAL UAL JD CRM TSM RCL LAC

BIDU AMD CSIQ MSFT ZI TOL DHI PHM

NVDA TSLA LRCX AMZN GOOG OLED

LAC ORVL CMG.....

AH Futures UP

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, TAPE closed @ low of the day. Internals were negative. Only technology performed well especially semiconductors & chips / Chip equipment makers. It IS the Washington stalemate which may go to the last second of deadline and markets may be in turmoil unless serious progress is made.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .14% to .66%...NICE !!!

 Indices closed UP.

S&P 500 @ 4136.28, high 4141.25, low 4110.27

RSI @ 54.32

CMF @ 0.100

Internals were :

UP volume led by 2.74 to 1 in NYSE & 2.39 to 1 in Nasdaq

Advancing stocks led by 2.10 to 1 in NYSE & 1.85 to 1 in Nasdaq

Net new lows were leading by 3 in NYSE & 83 in Nasdaq

VIX UP .53% @ 17.12

Oil @ $70.04

Gold @ $2022.70

Canadian $ @ .6514

In my portfolio :

SOLD AI @ $21.50

Sold SHOP @ $61.68

Bought LSPD @ $14.19

Added 150% SQ @ $56.58

Portfolio ARKK LSPD MGM SNAP SQ

Stocks which were UP 2% or more included ARKK SQ 

AI COIN TTD JD PDD TPR RIOT NIO CCL AMAT

NTR MOS MU GE TECK TSM QCOM QRVO 

SWKS SCHW AMD SNOW INTC LYFT NEM

AEM DOCU ZI ZM MTCH CRWD ESTC 

NTAP TER NVDA META LRCX SPLK

BABA OSTK M MSTR...

AH Futures Down

AH Asian Markets UP

AH Oil UP

AH Gold Down

About market, TAPE closed UP, Internals were positive. Many sectors participated in today's rally BUT Nasdaq was the strongest again. Debt ceiling talk is starting on Tuesday, hopefully they make some progress which will improve market sentiment.

BLOG does NOT give buy or sell.

Saleem

US stock market stuck in debt ceiling stalemate...

 US stock market is stuck in debt ceiling debate as agreement is not in sight.

US stock market got the inflation friendly reports back to back but markets backed off.

Until we have definitive signal of a debt ceiling agreement, we may be stuck in a narrow trading range.

YES this stalemate is affecting stock prices as they are pulling back slightly to support level.

SO...this waiting for agreement gives us a chance to handicap our portfolio, which may include locking gains, adding near support or to start a new position.

SO far this year as expected Technology is the leader sector wise BUT some stocks in technology area are showing incredible gains of up to 50%+++YTD

Also as expected worst sector remains XLE sporting an RSI of 36.49

Nasdaq RSI is the hottest @ 58.00

IF you are not comfortable in making any changes, then sit tight and wait this new storm out.

A well diversified portfolio with strategic weighting is the best approach to mini uncertainty of budget and all its haggling...

Every portfolio needs few winners only to have superb performance IF the weighting is appropriate.

Try to look for better performing stocks when it comes to upcoming quarterly reports, IF you get it right then you have another winner.

SO...It comes to doing your homework with anticipatory fundamental analysis based on new reality and IF possible a technical turning point.

Market has faced these debt ceiling issues quite frequently and it did get resolved even after Government shutdown and layoff.....BUT it shocks stock market until resolution.

Good luck with your own interpretation of debt ceiling crisis which may be mild or painful in the short run.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .03% to .35%....

 Indices closed down but off the worst level of the day, weekly option expiry played a role.

S&P 500 @ 4124.08 low 4099.12, high 4143.74

RSI @ 52.57

CMF @ 0.114

Internals were :

Down volume led by 1.61 to 1 in NYSE & 1.68 to 1 in Nasdaq

Declining stocks led by 1.46 to 1 in NYSE & 1.49 to 1 in Nasdaq

Net new lows were leading by 81 in NYSE & 177 in Nasdaq

VIX UP .59% @ 17.03

Oil @ $70.04

Gold @ $2019.80

Canadian $ @ .6455

Stocks which closed green included EXAS TPR CNX

AMAT FSLR TJX TECK SCHW FCX IBM NXPI

DDOG ENPH SEDG EAT ELF FFIV GOOG

NTNX ORCL MCD ULTA PANW....

In my portfolio :

Sold 50% SHOP @ $62.40

Bought MGM @ $42.29

Here is my portfolio weighting :

ARKK         34.67%

SHOP        23.57%

SQ            12.78%

MGM       11.46%

AI           11.17%

SNAP     6.41%

Next post by 6 PM on Sunday

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed...

 Indices closed mixed.

S&P 500 @ 4130.62, low 4109.29, high 4132.80

RSI @ 53.60

CMF @ 0.107

Internals were :

Down volume led by 2.42 to 1 in NYSE & 1.10 to 1 in Nasdaq

Declining stocks led by 2.27 to 1 in NYSE & 1.67 to 1 in Nasdaq

Net new lows leading by 55 in NYSE & 134 in Nasdaq

VIX Down 0.06% @ 16.93

Oil @ $70.87

Gold @ $2020.50

Canadian $ @ .6507

Portfolio ARKK AI SHOP SNAP SQ

Stocks which closed green included ARKK SNAP

RBLX XPEV JD PDD NIO FSLR MGA HOOD

MU M ROKU MGNI BIDU TOL DDOG KBH

ELF META TSLA AMZN BABA GOOG OXY

NFLX RH ULTA CMG....

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE closed mixed on uncertainty about debt ceiling in USA. Internals were negative. Nasdaq showing relative strength and showing technical strength. Friday is weekly option expiry which should create exaggerated moves in market and related stocks.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed..

S&P 500 @ 4137.64, high 4154.28, low 4098.92

RSI @ 54.66

CMF @ 0.109

Internals were :

UP volume led by .94 to 1 in NYSE & 1.30 to 1 in Nasdaq

Advancing stocks led by 1.32 to 1 in NYSE & 1.37 to 1 in Nasdaq

Net new lows were leading by 1 in NYSE & 64 in Nasdaq

VIX Down 4.35% @ 16.94

Oil @ $72.56

Gold @ $2037.10

Canadian $ @ .6622

In my portfolio Added 40% SQ @ $58.89

Portfolio ARKK AI SHOP SNAP SQ

Stocks which were UP 1% or more included ARKK AI SNAP

LSPD SPOT COIN EXAS RBLX PLTR RIOT AMAT

FSLR CRM AAPL MSFT DASH AMD SNOW ZI ZM

MSTR DOCU CRWD ESTC DDOG ENPH SEDG

NVDA AMZN GOOG CMG....

AH Futures UP

AH Asian Markets Down

AH Oil & Gold UP

About market, TAPE closed mixed on better than expected inflation report in USA. Indices were volatile first UP then down then mostly UP @ close. Internals were mostly positive. Technology stocks were strong in many sectors.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .17% to .63%.....

 Indices closed down.

S&P 500 @ 4119.17, low 4116.65, high 4130.35

RSI @ 52.36

CMF @ 0.052

Internals were :

Down volume led by 1.40 to 1 in NYSE & 1.33 to 1 in Nasdaq

Declining stocks led by 1.59 to 1 in NYSE & 1.35 to 1 in Nasdaq

Net new lows were leading by 22 in NYSE & 99 in Nasdaq

VIX UP 4.30% @ 17.71

Oil @ $73.71

Gold @ $2042.90

Canadian $ @ .6595

Portfolio ARKK AI SHOP SNAP SQ

Stocks which were UP 1% or more included ARKK AI

COIN PLTR UAL RIOT VNX AFRM HOOD CCJ

CRM LAC MSTR SNOW PANW PENN ZM

ESTC DDOG EAT MRNA BA SLB RH....

AH Futures UP

AH Asian Markets Down

AH Oil & Gold Down

About market, TAPE marking time and catching its breath after huge run on Friday last week. Internals were negative. Many stocks are showing strong resilience even in down days. Looks like Wednesday may be the day for a positive close.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 4138.12, high 4142.30, low 4123.81

RSI @ 55.01

CMF @ 0.062

Internals were :

UP volume led by 1.19 to 1 in NYSE & 2.03 to 1 in Nasdaq

Declining stocks led by 1.14 to 1 in NYSE & 1.07 to 1 in Nasdaq

Net new highs were leading by 38 in NYSE & lows by 31 in Nasdaq

VIX Down 1.22% @ 16.98

Oil @ $73.16

Gold @ $2033.20

Canadian $ @ .6638

In my portfolio added 125% SQ @ $58.45

Portfolio ARKK AI SHOP SNAP SQ

Stocks which were UP 2% or more included AI SHOP SNAP

LSPD TTD RBLX PLTR UAL CCL AFRM RCL AAL

LAC PINS AMD SNOW PANW ZI CRWD UBER

DDOG ENPH TWLO NFLX AMD....

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE closed mixed with Nasdaq being relatively stronger. Internals were mixed. Few stocks are showing strength while others are taking a breather. After hours earnings report is mixed. Keep an eye on rotation which is ongoing.

BLOG does NOT give buy or sell.

Saleem

US stock market in bull mode.....

 US stock market is in a " full bull mode "

US stock market is ignoring hawkish Fed

US stock market is ignoring Hotter jobs report

US stock market is ignoring Washington funding debate

US stock market is ignoring hotter inflation reports

US stock market is ignoring lowest unemployment numbers

US stock market is ignoring liquidity crunch in regional banks

All of the above is only possible when US stock market is looking ahead and wants to go higher

US stock market has been in a higher low mode for last 4 months

US stock market has ignored all the bearish calls for new lows for almost a year

When US stock market starts to fight the Fed, It IS time to be very aggressive and go long

Friday close had the feel of " capitulation by HFT "

Whenever there is a broad based participation in a rally, may means direction has changed...

This IS the market of very reasonable RSI for even the strongest sector

Nasdaq is leading this Bull RUN with an RSI of only 58.01

2nd strongest is GOLD with RSI of 55.89....

3rd strong sector is S&P 500 with an RSI of 54.80

Message of the market IS....Technology is the place to be....stay with the strongest stocks as they have a long way to go higher and higher as they all have faltered badly for last 3 years...NOW they have high energy of UP UP & away....

Many ETF are beaten UP except Nasdaq 100 related as they are ready to make new highs on Monday

ETF may be ideal for those who are still not sure which stocks to pick

YES...It IS a stock pickers market which are already on the move...NO BARGAIN HUNTING PLEASE....

Please overweight strong stocks and IF you must play bargain hunting, please keep it small / underweight 

Good luck with your own strategy & comfort level.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 1.65% to 2.25%..NICE !!!!

Indices closed UP despite hotter than expected jobs report as we were deeply oversold. Most sectors participated in today's rally.

S&P 500 @ 4136.25, high 4147.02, low 4084.73

RSI @ 54.80

CMF @ 0.078

Internals were :

UP volume led by 8.42 to 1 in NYSE & 4.25 to 1 in Nasdaq

Advancing stocks led by 4.95 to 1 in NYSE & 2.73 to 1 in Nasdaq

Net new highs were leading by 24 in NYSE & lows by 36 in Nasdaq

VIX Down 14.44% @ 17.19

Oil @ $71.34

Gold @ $2024.80

Canadian $ @ .6575

Stocks which were UP 4% or more included ARKK AI SHOP SNAP

LSPD VOIN RUN MRVL UAL RIOT CCL RCL FSLR AFRM

MGA PYPL M AAPL ROKU MSTR DKNG SEDG NVDA

TSLA EXPE JWN.....

Here is my portfolio weighting :

SHOP     44.93%

ARKK    33.33%

AI          10.42%

SNAP      5.96%

SQ          5.36%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem 

Indices closed down .49% to .86%....

 Indices closed down.

S&P 500 @ 4061.22, low 4048.28, high 4082.61

RSI @ 45.27

CMF @ 0.083

Internals were :

Down volume led by 2.06 to 1 in NYSE & 1.25 to 1 in Nasdaq

Declining stocks led by 2.25 to 1 in NYSE & 1.53 to 1 in Nasdaq

Net new lows were leading by 255 in NYSE & 414 in Nasdaq

VIX UP 9.54% @ 20.09

Oil @ $68.56

Gold @ $2055.70

Canadian $ @ .6424

In my portfolio :

Added  500% AI @ $17.50

Added 150% SNAP @ $7.96

Portfolio ARKK AI SHOP SNAP SQ

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

LSPD EXAS XPEV JD HST NIO RCL MSTR BIDU AMD

GOLD INTC NEM AEM ZM DDOG SEDG MRNA OLED..

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, closed lower on ongoing regional bank troubles. Internals were negative. After hours earnings were mostly positive which bodes well for this oversold market.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .46% to .80%....

 Indices closed down.

S&P 500 @ 4090.75, low 4088.86, high 4148.30

RSI @ 49.05

CMF @ 0.116

Internals were :

Down volume led by 1.87 to 1 in NYSE & 2.74 to 1 in Nasdaq

Declining stocks led by 1.44 to 1 in NYSE & 1.00 to 1 in Nasdaq

net new lows were leading by 42 in NYSE & by 201 in Nasdaq

VIX UP 3.15% @ 18.34

Oil @ $68.60

Gold @ $2037.00

Canadian $ @ .6389

Portfolio ARKK AI SHOP SNAP SQ

 Stocks which closed green included AI SQ

LSPD SPOT RUN EXAS LULU HST

AMAT BMBL DASH INTC LYFT

TOL UBER DDOG ENPH PHM

LTHM CMG.....

AH Futures Mixed

AH Asian markets Mixed

AH Oil & Gold UP

About market, TAPE closed @ low of the day thanks to hawkish Q&A. Internals were negative. Few stocks bucked the trend as listed in gainers. Real market trend should emerge by Thursday close. Another regional bank was collapsing after hours.

BLOG does NOT give buy or sell.

Saleem

Indices closed down 1.08% to 1.16%...

 Indices closed down.

S&P 500 @ 4119.58, low 4089.72, high 4164.10

RSI @ 53.07

CMF @ 0.149

Internals were :

Down volume led by 5.12 to 1 in NYSE & 1.86 to 1 in Nasdaq

Declining stocks led by 3.55 to 1 in NYSE & 2.44 to 1 in Nasdaq

Net new lows were leading by 133 in NYSE & 380 in Nasdaq

VIX UP 10.57% @ 17.78

Oil @ $71.66

Gold @ $2023.30

Canadian $ @ .6369

Portfolio ARKK AI SHOP SNAP SQ

Stocks which closed green included 

COIN RIOT AG GE RCL QCOM

QRVO PAAS MSTR GOLD NXPI

NEM AEM ZI UBER DHI MCD

AMZN CRUS AMD BROS 

OSTK CMG....

AH Futures UP

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, TAPE remained under Fed induces banking crisis of inverted yield which is playing havoc with deposits. Washington lack of agreement on Government funding played a role also in today's slump. Expecting Fed statement to backtrack on highest rate for a long time mantra and do an about turn on many policies.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .04% to .14%...

 Indices closed down.

S&P 500 @ 4167.87, low 4164.12, high 4186.92

RSI @ 60.82

CMF @ 0.203

Internals were :

Down volume led by 1.28 to 1 in NYSE & 1.09 to 1 in Nasdaq

Declining stocks led by 1.36 to 1 in NYSE & 1.17 to 1 in Nasdaq

Net new highs were leading by 89 in NYSE &  lows by 97 in Nasdaq

VIX UP 1.90% @ 16.08

Oil @ $75.66

Gold @ $1992.20

Canadian $ @ .6452

Portfolio ARKK AI SHOP SNAP SQ

Stocks which were UP 1% pr more included AI

SPOT MGM MRVL RBLX DAL LULU UAL 

NCLH GE BYD RCL WYNN AAL DASH

DKNG LYFT PENN UBER UPS NVDA

META LVS MCD....

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE closed slightly down after spirited run last week. Fed meeting & action on 2PM Wednesday should be a net positive for bullish action. Regional Bank failures and resulting weakness in Major Banks is a wakeup call to Fed policies and lack of focus on impact of their actions.

BLOG does NOT give buy or sell.

Saleem