Indices closed mixed....

 Indices closed mixed after being UP earlier. close was was mixed in anticipation of jobs report Friday @ 830 AM.

S&P 500 @ 4507.66, low 4507.39, high 4532.26

RSI @ 57.19

Internals were :

Down volume led by 1.36 to 1 in NYSE & .97 to 1 in Nasdaq

Declining stocks led by 1.04 to 1 in NYSE & 1.26 to 1 in Nasdaq

Net new highs were leading by 97 in NYSE & lows by 11 in Nasdaq

VIX Down 2.23% @ 13.57

Oil @ $83.63

Gold @ $1965.90

Canadian $ @ .6455

In my portfolio :

Bought AAPL In Toronto @ $28.15..same % moves as Nasdaq

Portfolio AAPL NVDA SHOP TSLA BTCC

Today was end of month which had many strategies taking place like booking profit. Hopefully, Friday brings equity reallocation for September.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .11% to .54%...NICE !!!!

 Indices closed UP near high of the day. Nice to see continued uptrend in all Indices.

S&P 500 @ 4514.87, high 4521.65, low 4493.59

RSI @ 58.28

Internals were :

UP volume led by 1.32 to 1 in NYSE & 1.44 to 1 in Nasdaq

Advancing stocks led by 1.76 to 1 in NYSE & 1.24 to 1 in Nasdaq

Net new highs were leading by 112 in NYSE & 4 in Nasdaq

VIX Down 3.94% @ 13.88

Oil @ $81.63

Gold @ $1973.00

Canadian $ @ .6481

In my portfolio :

Sold PLTR @ $15.53

Sold AI @ $31.14

Portfolio NVDA SHOP TSLA BTCC

Thursday & Friday is news driven, IF market friendly rally continues IF NOT a pause for a day.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .85% to 1.74%...NICE !!!

 Indices closed @ high of the day in high volume. DOW, S&P 500 & Nasdaq all closed well above 50 DMA, a great technical picture.

S&P 500 @ 4497.63, high 4500.14, low 4431.68

RSI @ 56.44

Internals were :

UP volume led by 5.38 to 1 in NYSE & 4.31 to 1 in Nasdaq

Advancing stocks led by 5.09 to 1 in NYSE & 2.59 to 1 in Nasdaq

Net new highs were leading by 64 in NYSE & lows by 59 in Nasdaq

VIX Down 4.18% @ 14.45

Oil @ $81.16

Gold @ $1965.10

Canadian $ @ .6406

Portfolio AI NVDA PLTR SHOP TSLA BTCC

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .62% to .84%....NICE !!!!

 Indices closed higher near high of the day.

S&P 500 @ 4433.31, high 4439.56, low 4414.98

RSI @ 48.59

Internals were :

UP volume led by 4.25 to 1 in NYSE & 1.43 to 1 in Nasdaq

Advancing stocks led by 3.18 to 1 in NYSE & 1.61 to 1 in Nasdaq

Net new highs were leading by 32 in NYSE & lows by 105 in Nasdaq

VIX Down 3.83% @ 15.08

Oil @ $80.10

Gold @ $1946.80

Canadian $ @ .6398

Portfolio AI NVDA PLTR SHOP TSLA BTCC

Today was a low volume day. Do not discount a dull day as long as we keep making progress. This week PCE & Jobs report will keep many in fearful mode BUT @ the end of the week, I expect this week to be productive for bulls & patient traders.

BLOG does NOT give buy or sell.

Saleem

US stock market ready for bullish move.....

 US stock market has been waiting for many key data and policy statement.....they have come & gone..

NOW WHAT.....

Fed speak caused a mini rally....

Many stocks have pulled back to a level where equity allocation will be in force....

Those 5% yield will look nothing compared to 25% gains which lies ahead in many equities by end of Q1 2024

Smart traders & investors have remained OPTIMISTIC despite INFLATION & HIGHER RATE LONGER fed strategy....

Even when you have a 1 year time frame strategy in key stocks, 5X gains are possible compared to safe & guaranteed T bills.....

Here is a list of select few key equities in terms of RSI :

AI        36.33

SHOP  41.29

META  41.30

PLTR   41.54

AAPL  44.08

MSFT  46.16

TSLA   47.06

AMZN  48.84

CRWD 49.23

GOOG  54.72

NVDA  55.49

AS you can clearly see many world class growth driven companies have been trashed lately.

From the above list only NVDA GOOG & AMZN are above 50 DMA & 200 DMA....SO IF you want to play strongest card buy all 3 & wait with conviction for 1 year.....

Rest of 8 stocks are all ABOVE 200 DMA

OR

Pick any 5 from above list based on your OWN CRITERIA / PREFERENCE...chances are very high that NOT only you will beat market return plus more....

YES...cloud has cleared

YES...there IS sunshine

BE OPTIMISTIC

We have worried enough since end of July about inflation & Interest rates....they are all discounted by now....

Good luck with your OWN pick with PATIENCE & CONVICTION...

Thou shall REAP & PROSPER....

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .67% to .94%....NICE !!!!

 Indices closed the week positive despite jaw boning by Fed Chief.

S&P 500 @ 4405.71, high 4418.46, low 4356.29

RSI @ 44.61

Internals were :

UP volume led by 1.64 to 1 in NYSE & 1.66 to 1 in Nasdaq

Advancing stocks led by 1.51 to 1 in NYSE & 1.21 to 1 in Nasdaq

Net new lows were leading by 54 in NYSE & 174 in Nasdaq

VIX Down 8.84% @ 15.68

Oil @ $79.83

Gold @ $1939.90

Canadian $ @ .6369

Here is my portfolio weighting 80% exposure :

SHOP       53.52%

NVDA      16.36%

PLTR       12.92%

AI            11.66%

TSLA       5.30%

BTCC       .24%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed down 1.08% to 1.87%....

 Indices closed down on sell the news of NVDA & Fed speech @ 10 AM on Friday.

S&P 500 @ 4376.31, low 4375.55, high 4458.30

RSI @ 40.03

Internals were :

Down volume led by 1.57 to 1 in NYSE & 4.34 to 1 in Nasdaq

Declining stocks led by 2.95 to 1 in NYSE & 2.57 to 1 in Nasdaq

Net new lows were leading by 53 in NYSE & 177 in Nasdaq

VIX UP 7.63% @ 17.20

Oil @ $79.05

Gold @ $1947.10

Canadian $ @ .6431

In my portfolio :

Sold AI @ $33.84 in pre market

Sold PLTR @ $15.74 in pre market

Bought AI @ $28.50

Bought PLTR @ $13.92

Portfolio AI NVDA PLTR SHOP TSLA BTCC

Today was a classic day where being optimistic has to be mixed with ongoing realism as we all knew about Fed speak on Friday, BUT we all forget next news may be more important than news @ hand ie NVDA blowout report.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .54% to 1.59%....NICE !!!

 Indices closed near high of the day as yields backed down.

S&P 500 @ 4436.01, high 4443.18, low 4396.44

RSI @ 47.44

Internals were :

UP volume led by 1.87 to 1 in NYSE & 2.24 to 1 in Nasdaq

Advancing stocks led by 3.74 to 1 in NYSE & 2.02 to 1 in Nasdaq

Net new lows were leading by 22 in NYSE & 109 in Nasdaq

VIX Down 5.83% @ 15.98

Oil @ $78.91

Gold @ $1948.10

Canadian $ @ .6455

In my portfolio ...bought TSLA @ $22.14 in Toronto....gets the same % move as NYSE....

AI NVDA PLTR SHOP TSLA BTCC

After hour came shocker that NVDA could do better than last quarterly report and most traders either stayed away from NVDA or shorted for a quick buck.....BUT YES NVDA did way better than last Quarter and predicting massive growth in Q3...NOT because of any double order as stated by geniuses on CNBC....every country / company in this planet is ordering AI chips to enhance productivity, latest to give a huge order was Saudi Arabia which stunned skeptics by giving an order worth $5 Billion of AI chips......

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed after reversing earlier gains.

S&P 500 @ 4387.55, low 4382.17, high 4418.59

RSI @ 38.91

Internals were :

Down volume led by 1.72 to 1 in NYSE & 1.59 to 1 in Nasdaq

Declining stocks led by 1.43 to 1 in NYSE & 1.44 to 1 in Nasdaq

Net new lows led by 92 in NYSE & 196 in Nasdaq

VIX Down .93% @ 16.97

Oil @ $80.35

Gold @ $1926.00

Canadian $ @ .6448

In my portfolio :

Sold M @ $13.22

Sold TSLA @ $ 22.22

Bought NVDA @ $44.75 & $43.66

Portfolio AI NVDA PLTR SHOP BTCC

NVDA reports after hours Wednesday expecting an 11% +- move after earning. NVDA reached $481.87 a new all time high during today's trading, a sign of good things to come.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed despite rising yield with 10 year hitting highest rate since 2008. 30 year fixed mortgage hit 7.48%. Internals were mostly negative.

S&P 500 @ 4399.77, high 4407.55, low 4360.30

RSI @ 40.45

Internals were :

Down volume led by 1.13 to 1 in NYSE & .84 to 1 in Nasdaq

Declining stocks led by 1.44 to 1 in NYSE & 1.09 to 1 in Nasdaq

Net new lows were leading by 99 in NYSE & 169 in Nasdaq

VIX Down .98% @ 17.13

Oil @ $80.72

Gold @ $1923.00

Canadian $ @ .6431

In my portfolio :

Sold CAVA @ $42.25

Bought M @ 414.80....reports before open on Tuesday....

Portfolio AI M PLTR SHOP TSLA BTCC

Today's TAPE was disappointing as DOW & Russell 2000 both closed lower, VIX barely budged....

BLOG does NOT give buy or sell.

Saleem

US stock market ready for an UP day....

 US stock market has been under severe selling pressure since 3rd week of July....

US Stock Indices went below 50 DMA

Russell 2000 went below 200 DMA

All of the above is a reflection of intense selling and liquidation of equities

Money market funds are competing with US equities for a guaranteed 5% return

Most of the high fliers AAPL TSLA META DDOG FSLR SHOP AI PLTR all were trashed into bear market losses or close to It.....

Most of the bad news have been discounted...

Even high flying 10 year rate has tipped lower to 4.25%, indicating overbought condition....

All of the above should result in some kind of stabilization in equities

Based on RSI.......

XLE    was the-best performing with 62.27 RSI

Nasdaq was the-most oversold with 32.68 RSI

IWM was the 2nd worst with 34.54 RSI

YES ...It IS much safer to buy many bargains which I have named above....

Risk / Reward is pretty good now favoring bullish posture.

US stock market always goes in extreme, either more bullish than anybody predicted or more bearish than most pundits.....

It IS very important to be ready for both extreme always....

Sometimes " relative value " may trigger a change in strategy which is always a sign of good trader....

NOW is the time to think & act bullish....

Making money is NEVER easy in stock market but having an open strategy works...

Good luck with your own take on where we are in US markets...

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Yield kept climbing but US stock market showed sign of stabilization by closing mixed. Nasdaq was the weakest again.

S&P 500 @ 4369.71, low 4335.31, high 4381.82

RSI @ 34.54

Internals were :

UP volume led by 1.68 to 1 in NYSE & 1.18 to 1 in Nasdaq

Advancing stocks led by 1.16 to 1 in NYSE & 1.18 to 1 in Nasdaq ( not a typo )

Net new lows were leading by 123 in NYSE & 227 in Nasdaq

VIX Down 3.30% @ 17.30

Oil @ $81.25

Gold @ $1916.50

Canadian $ @ .6437

In my portfolio :

Bought CAVA @ $43.25

Bought TSLA in Toronto @ $20.05

Here is my portfolio weighting @ 80% exposure :

SHOP     54.97%

AI           14.58%

TSLA     12.34%

PLTR     11.68%

CAVA      6.17%

BTCC       .26%

Next post by 6 PM on Sunday

BLOG does NOT give buy or sell.

Saleem

Indices closed down .77% to 1.17%....

 Indices closed near low of the day again after reversing from green open to deep red.

S&P 500 @ 4370.36, low 4364.83, high 4421.17

RSI @ 34.61

Internals were :

Down volume led by 1.58 to 1 in NYSE & 2.99 to 1 in Nasdaq

Declining stocks led by 2.43 to 1 in NYSE & 2.02 to 1 in Nasdaq

Net new lows were leading by 117 in NYSE & 263 in Nasdaq

VIX UP 6.62% @ 17.89

Oil @ $80.39

Gold @ $1915.20

Canadian $ @ .6472

In my portfolio:

Sold 50% SHOP @ $52.99

Bought AI @ $29.80

Bought PLTR @ $14.16

Portfolio AI PLTR SHOP BTCC

Nasdaq is down 8% from high getting close to deeply oversold condition. Nobody buys @ absolute low of any pullback, so I get IN when I feel its close enough and stocks I am keeping or buying are oversold enough.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .52% to 1.15%....

 Indices closed down @ low of the day. 

S&P 500 @ 4404.33, low 4403.55, high 4449.95

RSI @ 38.32

Internals were :

Down volume led by 3.13 to 1 in NYSE & 1.05 to 1 in Nasdaq

Declining stocks led by 3.36 to 1 in NYSE & 2.68 to 1 in Nasdaq

Net new lows were leading by 111 in NYSE & 239 in Nasdaq

VIX UP 1.94% @ 16.78

Oil @ $79.38

Gold @ $1922.00

Canadian $ @ .6479

Portfolio SHOP BTCC

Nasdaq high volume selling is of major concern plus going deeper below 50 DMA, support may be many % below.....

BLOG does NOT give buy or sell.

Saleem

Indices closed down 1.02% to 1.16%....

 Indices closed near low of the day. DOW, S&P 500 & Nasdaq all closed below 50 DMA. Internals were extremely bearish as you will see below.

S&P 500 @ 4437.86, low 4432.19, high 4478.87

RSI @ 42.49

Internals were :

Down volume led by 6.71 to 1 in NYSE & 1.54 to 1 in Nasdaq

Declining stocks led by 5.24 to 1 in NYSE & 2.54 to 1 in Nasdaq

Net new lows were leading by 84 in NYSE & 159 in Nasdaq

VIX UP 11.07% @ 16.46

Oil @ $80.99

Gold @ $1935.20

Canadian $ @ .6521

Portfolio SHOP BTCC

Close was extremely bearish. Recommend reducing exposure in market by 50% ASAP.....

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .07% to 1.05%...NICE !!!

 Indices closed UP after opening lower. Internals were negative and small cap closed lower.

S&P 500 @ 4489.72, high 4490.33, low 4453.44

RSI @ 50.37

Internals were :

Down volume led by 1.60 to 1 in NYSE & .91 to 1 in Nasdaq

Declining stocks led by 1.46 to 1 in NYSE & 1.40 to 1 in Nasdaq

Net new lows were leading by 20 in NYSE & 145 in Nasdaq

VIX Down .13% @ 14.82

Oil @ $82.51

Gold @ $1944.00

Canadian $ @ .6543

Portfolio SHOP BTCC

We need to have another positive close to confirm this turnaround. On the positive side DOW S&P 500 & Nasdaq all closed above 50 DMA.....

BLOG does NOT give buy or sell.

Saleem

US stock market oversold.....

 US stock market is close to support, another dip then we are due for an oversold bounce....

US stock market profile has changed since 3rd week of July.....

There is no real catalyst left.....

AI hype has not only calmed down BUT has caused tremendous losses to believers...

NVDA AI PLTR....all have lost major support...

Market may mark time to heal itself from hyper bullish mode to more normal level

YES normal gets changed after every major rally or major selling....

It IS difficult to chart a course of action when we are still trying to find support in major index..

Investment climate is murky @ best

High savings rate is another competition

Many traders / investors are caught in this downdraft

It IS better to wait till Q3 results are due....which means 60 days of patience and NO FIX for trading juices...

I am showing my conviction with only 1 stock in a big way....NO It Is NOT guts...pure & simple " due diligence "

You all have your own trading / investing style, either hone it further or live with your well researched and high comfort stocks....

When stock market is IN doldrum which it IS these days, It is not fun...

Good luck with your own analysis.....

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed.....

 Indices closed mixed with rising 10 year rate & higher inflation.

S&P 500 @ 4464.05, low 4443.98, high 4476.23

RSI @ 45.75

Internals were :

UP volume led by 1.07 to 1 in NYSE & 1.05 to 1 in Nasdaq

Declining stocks led by 1.08 to 1 in NYSE & 1.22 to 1 in Nasdaq

Net new highs were leading by 1 in NYSE & lows by 119 in Nasdaq

VIX Down 6.37% @ 14.84

Oil @ $83.19

Gold @ $1946.60

Canadian $ @ .6557

Here is my portfolio weighting with 40% exposure :

SHOP       98.75%

BTCC         1.25%

Next post by 6 PM on Sunday

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .03% to .15%....NICE !!!

 Indices Closed UP in reaction to CPI which was lower than consensus.

S&P 500 @ 4468.83, high 4527.37, low 4457.92

RSI @ 46.50

Internals were :

Down volume led by 1.17 to 1 in NYSE & 1.13 to 1 in Nasdaq

Declining stocks led by 1.27 to 1 in NYSE & 1.15 to 1 in Nasdaq

Net new highs led by 41 in NYSE & lows by 96 in Nasdaq

VIX Down .69% @ 15.85

Oil @ $82.82

Gold @ $1948.90

Canadian $ @ .6593

Portfolio SHOP BTCC

Market is weak needs time for base building, PPI reaction will be the same flat to lower TAPE.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .54% to 1.17%...

 Indices closed down on renewed selling, closing @ low of the day. It IS all about CPI which IS expected to be hotter and MAY exceed expectations of 4.8%, this hotter number may renew further selling.

S&P 500 @ 4467.71, low 4461.33, high 4502.44

RSI @ 46.31

Internals were :

Down volume led by 1.45 to 1 in NYSE & 1.59 to 1 in Nasdaq

Declining stocks led by 1.18 to 1 in NYSE & 1.63 to 1 in Nasdaq

Net new highs were leading by 34 in NYSE & lows by 109 in Nasdaq

VIX Down .19% @ 15.96

Oil @ $84.40

Gold @ $1950.60

Canadian $ @ .6552

Portfolio SHOP BTCC

BLOG does NOT give buy or sell.

Saleem

Indices closed down .42% to .79%....

 Indices closed down again, ironically we closed @ high of the day means a mini bounce is coming near your trading terminal.

S&P 500 @ 4499.38, low 4464.39, high 4503.31

RSI @ 51.10

Internals were :

Down volume led by 1.81 to 1 in NYSE & 1.28 to 1 in Nasdaq

Declining stocks led by 1.74 to 1 in NYSE & 1.57 to 1 in Nasdaq

Net new lows were leading by 11 in NYSE & 139 in Nasdaq

VIX UP 1.40% @ 15.99..high today today 18.14

Oil @ $82.06

Gold @ $1959.90

Canadian $ @ .6541

Portfolio SHOP BTCC

Based on how we close and VIX closed, we may get a mini rebound in averages or oversold bounce. Please do not add to your exposure, only keep highest conviction stocks which could also test or break any or all support as we go along. Market has changed for the worse.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .61% to 1.16%....NICE !!!

 Indices closed UP and @ high of the day, BUT Nasdaq Internals were all NEGATIVE ???

S&P 500 @ 4518.44, high 4519.84, low 4491.15

RSI @ 54.24

Internals were :

UP volume led by 1.91 to 1 in NYSE & .72 to 1 in Nasdaq

Advancing stocks led by 1.70 to 1 in NYSE & .90 to 1 in Nasdaq

Net new highs were leading by 74 in NYSE & lows by 101 in Nasdaq

VIX Down 7.78% @ 15.77

Oil @ $81.94

Gold @ $1970.00

Canadian $ @ .6658

In my portfolio Sold PLTR in pre market @ $18.25

Portfolio SHOP BTCC

BLOG does NOT give buy or sell.

Saleem

US stock market in " neutral mode "

US stock market had a " super bullish " first half...

Based on trading pattern of last 7 days, we are in a " cooling off " zone

@ best this pattern can be described as " neutral "

We may see rotation on a daily basis...thus a " daytrading " market

Earnings reaction has been " yawn " on better and " severe " on below expectations

Only " major surprise " was rewarded with 8% positive.....

SO....the trading environment has changed....

It IS important to understand this change and adjust further in terms of exposure which I may do on Monday...

It is NOT wise to have 100% exposure all the time, since I do NOT SHORT or play INVERSE ...I tinker with exposure based on changing trading environment...

I see this trend continuing more or less till October

Many sectors have been hyped to the hilt and deserves a REST

In case of my latest read of RSI, here is what worked and what is struggling in my universe of 7 sectors :

XLE is an absolute winner with RSI of 64.46

XLF is second best with 55.89

DOW is third best with 54.83

RUSSELL 2000 is 4th 54.71

Absolute last is S&P 500 with 47.94

2nd last is Nasdaq with 48.64

As any good lawyer always writes " govern accordingly "

Good luck with your analysis and INVERSE views.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .36% to .53%....

Indices closed down in a stunning reversal from high of the day to low of the day while 10 year went down sharply...try to figure this out....

S&P 500 @ 4478.03

RSI @ 47.94

Internals were :

Down volume led by 1.44 to 1 in NYSE & 1.68 to 1 in Nasdaq

Declining stocks led by .82 to 1 in NYSE & 1.14 to 1 in Nasdaq

Net new highs were leading by 68 in NYSE & lows by 43 in Nasdaq

VIX UP 7.41% @ 17.10....highest in months

Oil @ $82.82

Gold @ $1976.10

Canadian $ @ .6658

In my portfolio added 10% SHOP @ $59.71

Here is my portfolio weighting 60% exposure :

SHOP       67.81%

PLTR       30.27%

BTCC       1.92%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .10% to .25%....

 Indices closed down again on rate & earnings jitters.

S&P 500 @ 4501.88, low 4485.54, high 4519.49

RSI @ 51.86

Internals were :

Down volume led by 1.30 to 1 in NYSE & .51 to 1 in Nasdaq

declining stocks led by 1.84 to 1 in NYSE & 1.20 to 1 in Nasdaq

Net new highs were leading by 20 on NYSE & lows by 45 in Nasdaq

VIX Down 1.06% @ 15.92

Oil @ $81.55

Gold @ $1968.80

Canadian $ @ .6654

AH Futures UP

In my portfolio Added 75% PLTR @ $18.77

Portfolio PLTR SHOP BTCC

Today's closing Internals giving me lot of hope that this mini selling may have played out, VIX being down and no real panic to rising 10 year around 4.19% is comforting. AMZN earnings was very good as It IS a major turnaround story.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .98% to 2.17%....

 All major averages closed near low of the day in a high volume selling, Nasdaq was the-weakest.

S&P 500 @ 4513.39, low 4505.75, high 4550.93

S&P 500 RSI @ 53.82

Nasdaq RSI   @ 50.95

DOW RSI     @ 60.85

IWM RSI     @ 57.09

SOX RSI     @ 50.43

Internals were :

Down volume led by 3.62 to 1 in NYSE & 2.37 to 1 in Nasdaq

Declining stocks led by 4.00 to 1 in NYSE & 2.56 to 1 in Nasdaq

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

VIX UP 15.51% @ 16.09

Oil @ $79.45

Gold @ $1975.00

Canadian $ @ .6661

In my portfolio :

Bought PLTR @ $19.39 in pre market

Added 250% PLTR @ $18.87

Sold NVDA @ $43.20 in Toronto

Portfolio PLTR SHOP BTTC

Blame todays selling on being stretched with overbought conditions or Fitch downgrade of US or to 10 year yield of 4.08%, I will say It was a combination of all 3.....These selling are needed and one must be ready with your own game plan.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed with internals being negative.

S&P 500 @ 4576.73

RSI @ 66.76

Internals were :

Down volume led by 2.37 to 1 in NYSE & 1.28 to 1 in Nasdaq

Declining stocks led by 2.16 to 1 in NYSE & 1.67 to 1 in Nasdaq

Net new highs were leading by 152 in NYSE & 8 in Nasdaq

VIX UP 2.20% @ 13.93

Oil @ $81.33

Gold @ $1978.80

Canadian $ @ .6706

In my portfolio :

Sold PLTR @ $19.65 in pre market

Added 150% NVDA @ $44.00 in Toronto

Portfolio NVDA SHOP BTCC

TAPE showed weakness from pre market to a mixed close. In this type of market one must react either to lock any gains & be positioned to buy more with a pre set buy price....I did BOTH.

Market may show more weakness on rate going UP further and breaking UPPER range or on Fitch downgrade of US to AA+.....no matter what...one must have their own game plan NOT CNBC plan of panic & overreaction.....

BLOG does NOT give buy or sell.

Saleem