Indices shot UP to close @ high of the day. Fed statement and Q&A reinforced 3 cuts are coming in 2024.
S&P 500 @ 5224.62, high 5226.19, low 517155
RSI @ 67.40
Internals were :
UP volume led by 4.58 to 1 in NYSE & 4.07 to 1 in Nasdaq
Advancing stocks led by 3.76 to 1 in NYSE & 2.88 to 1 in Nasdaq
Net new highs were leading by 562 in NYSE & 116 in Nasdaq
VIX Down 5.64% @ 13.04
Oil @ $83.47
Gold @ $2161.00
Canadian $ @ .6431
Portfolio AMD GOOG INTC META MSFT NVDA SHOP SOUN
Stocks are getting into overdrive mode which is going to catch shorts with poor prediction.
BLOG does NOT give buy or sell.
Saleem
3 comments:
Dear Saleem,
I am so sorry to hear of your of your loss. Please accept my heartfelt condolences on the loss of your wife.
Prayers
Joe
Hi Saleem,
Sold SMCI @ 972.38 to take profits
The chart looks very ominous, and the secondary did not get immediately gobbled up and they had to wait until after close instead of before open. It also bothers me that the main competitive advantage for this company is just faster time to market than anyone else, which means when the chip supply eases, there will be alternatives.
Stocktrader
Hi Saleem,
Bought ENPH @ 112.83 on energy demand and moderating rates
With a comprehensive energy solution, they are clearly well positioning should any rebound in solar occur.
Added small to FLYW and DCBO.
Stocktrader
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