US stock market going with less AI focus....

 US stock market has enjoyed AI bonanza in a big way by making series of new highs....

AI did give traders / investors new focus in this phenomenon....

Lot has been learned about AI & its many infestations....

AI has entered a new routine based phase as part of overall trading strategy...

AI did reach a " frenzied  " status where every AI stock shot UP..

After each frenzy comes a major digestive time....

We may have entered " digestive zone already "

NVDA for sure needs a basing period....

BUT AI fever may shift to other stocks like AAPL which has " huge potential of growth "

My guess IS AAPL may have better prospect going forward than many stocks due its " captive audience "

I can almost predict that AAPL has "opposite strategy than NVDA "

NVDA is hardware based while AAPL may have upper hand with " software optimization "

It will be interesting to see how AAPL VS NVDA battle emerges in terms of " gains going forward "

For the record RSI for NVDA is 63.99 vs RSI for AAPL is 61.68.....

US stock market needs to move on its own momentum going forward...

I expect less frenzied & less AI driven going forward....

Now may be a good time to go back to basic in Investing 101....

Many aspect of US stock market is " underinvested "

Money may rotate out of AI to other sectors which were left behind...

From next week forward, It will be Q2 reporting time.....

Good luck with your own take on which sector may do better going forward..

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed, internals were mixed also.

S&P 500 @ 5464.62, low 5452.03, high 5478.31

RSI @ 71.30

Internals :

UP volume led by .91 to 1 in NYSE & 1.29 to 1 in Nasdaq

Advancing stocks led by .97 to 1 in NYSE & 1.03 to 1 in Nasdaq

Net new highs were leading by 25 in NYSE & lows by 135 in Nasdaq

VIX Down .60% @ 13.20

Oil @ $80.73

Gold @ $2331.20

Canadian $ @ .6296

In my portfolio...Added 50% SMCI.NE @ $30.65

Here is my weighting :

SHOP      45.31%

SMCI      19.72%

MSFT     13.76%

AAPL     12.71%

BTCC      6.65%

CG          1.85%

BLOG does NOT give buy or sell.

Next post by 6 PM on Sunday.

Saleem

Indices closed mixed...

 Indices closed mixed with DOW UP almost 300 points.

S&P 500 @ 5473.17, low 5455.56, high 5505.53

RSI @ 73.43

Internals :

Down volume led by .71 to 1 in NYSE & 1.18 to 1 in Nasdaq

Declining stocks led by 1.03 to 1 in NYSE & 1.33 to 1 in Nasdaq

Net new highs were leading by 130 in NYSE & lows by 109 in Nasdaq

VIX UP 7.97% @ 13.28

Oil @ $82.17

Gold @ $2369.00

Canadian $ @ .6292

In my portfolio...added 110% in pre market SHOP @ $64.44

Portfolio AAPL MSFT SMCI SHOP BTCC CG

There is no panic selling,  just an average down day in key technology shares.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .03% to .25%...NICE!!!

 Indices closed near high of the day.

S&P 500 @ 5487.03, high 5490.38, low 5471.32

RSI @ 76.90

Internals :

UP volume led by 1.46 to 1 in NYSE & 1.25 to 1 in Nasdaq

Advancing stocks led by 1.78 to 1 in NYSE & .78 to 1 in Nasdaq

Net new highs were leading by 166 in NYSE & lows by 78 in Nasdaq

VIX Down 3.53% @ 12.30

Oil @ $81.57

Gold @ $2344.10

Canadian $ @ .6273

In my portfolio :

Bought BTCC.TO @ $12.08

Bought SHOP.TO @ $88.12

Bought CG.TO @ $9.33

20% exposure in market

Market remains vulnerable to pullbacks as strong stocks gets narrower & narrower, NOT a sign of a  healthy market.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .49% to .95%...NICE !!!

 Indices closed UP near high of the day, another new all time highs for Nasdaq & S&P 500.

S&P 500 @ 5473.23, high 5488.50, low 5420.40

RSI @ 75.85

Internals :

UP volume led by 1.70 to 1 in NYSE & 1.74 to 1 in Nasdaq

Advancing stocks led by 1.44 to 1 in NYSE & 1.04 to 1 in Nasdaq

Net new highs were leading by 124 in NYSE & lows by 84 in Nasdaq

VIX UP .71% @ 12.75

Oil @ $80.33

Gold @ $2330.10

Canadian $ @ .6280

Internals were mostly positive which IS a CHANGE from last several days, need a confirmation of this positive change.

Portfolio....No position....

BLOG does NOT give buy or sell.

Saleem

US stock market ripe for pullback....

 US stock market has been on a tear for a long time...

Nasdaq & S&P 500 has made series of new all time highs.....

NVDA has become poster child of AI growth & euphoria....

AVGO is not far behind.......

This market has become of AI vs rest of the market....

YES...AI has an unbelievable future.....

BUT stocks gains are " too fast too much "

Here is the RSI table as of Friday's close :

AVGO          81.99

NVDA          80.82

Nasdaq       77.38

XLK            77.13

AAPL         75.90

SOX           73.36

S&P 500    72.31

ADBE        71.48

The above is a clear cut picture of a market which IS overbought...

All of the above needs a " digestive period "

Marking time or pullback is a natural result of euphoria...

Internals of the market is giving a clear signal that " health of this market is questionable @ the moment "

It IS important to pay attention to " real message of market "

There is time to be aggressive BUT now is the time to be conservative

Reducing exposure is one way to deal with exuberance which is very prevalent NOW

It IS important to read " traders sentiment which IS euphoric "

Euphoria ends with quick pullback

In any pullback hard earned equity is reduced substantially in a hurry...

It IS highly desirable to " lock in any gains "

When market is oversold then move back in with higher exposure...

Good luck with your own strategy & comfort level...

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed with only Nasdaq barely in green.....

S&P 500 @ 5431.60, low 5403.75, high 5432.39

RSI @ 72.31

Internals:

Down volume led by 3.30 to 1 in NYSE & 1.40 to 1 in Nasdaq

Declining stocks led by 2.40 to 1 in NYSE & 2.51 to 1 in Nasdaq

Net new lows were leading by 5 in NYSE & 149 in Nasdaq

VIX UP 6.03% @ 12.66

Oil @ $78.67

Gold @ $2334.70

Canadian $ @ .6258

No exposure in Canadian or US market...subject to opportunistic trade IF ....

Next post on Sunday by 6 PM

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed BUT Nasdaq & S&P 500 @ new all time high.

S&P 500 @ 5433.74, high 5441.93, low 5402.51

RSI @ 72.82

Internals :

Down volume led by 2.08 to 1 in NYSE & 1.13 to 1 in Nasdaq

Declining stocks led by 1.58 to 1 in NYSE & 1.90 to 1 in Nasdaq

Net new highs were leading by 91 in NYSE & lows by 36 in Nasdaq

VIX Down .83% @ 11.94

Oil @ $77.79

Gold @ $2318.90

Canadian $ @ .6247

In my portfolio :

Sold NVDA.NE @ $122.15

Sold SHOP.TO @ $89.93

Sold PLTR @ $24.06

SOLD SMCI.NE 55% @ $28.00 , 45% @ $30.00...

Portfolio BTCC.TO ( negligible may add )

AVGO gave further boost to AI phenomenon.....Internals were negative while 2 major Indices made a new all time highs....showing technical weakness.....

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed.....

 Indices closed mixed with Nasdaq & S&P 500 @ new all time highs despite Fed hawkish change in policy.....only one .25% cut in 2024.....sure sure.....

S&P 500 @ 5421.03, high 5447.25, low 5409.13

RSI @ 71.72....caution warranted

Internals :

UP volume led by 1.33 to 1 in NYSE & 2.54 to 1 in Nasdaq

Advancing stocks led by 2.81 to 1 in NYSE & 1.76 to 1 in Nasdaq

Net new highs were leading by 354 in NYSE & 125 in Nasdaq

VIX Down 6.30% @ 12.04...caution warranted

Oil @ $79.32

Gold @ $2339.50

Canadian $ @ .6303

Portfolio NVDA SHOP SMCI PLTR BTCC 

RSI & VIX are flashing " caution "...please adjust your strategy accordingly...

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed but Nasdaq & S&P500 closed @ new all time high,

S&P 500 @ 5375.32, high 5375.95, low 5327.25

RSI @ 67.30

Internals :

Down volume led by 2.01 to 1 in NYSE & .89 to 1 in Nasdaq

Declining stocks led by 1.52 to 1 in NYSE & 1.17 to 1 in Nasdaq

Net new highs were leading by 67 in NYSE & lows by 43 in Nasdaq

VIX UP .86% @ 12.85

Oil @ $77.90

Gold @ $2336.60

Canadian $ @ .6230

In my portfolio :

Sold SOUN @ $4.65

Bought BTCC.TO @ $12.49

Portfolio NVDA SHOP SMCI PLTR BTCC

CPI should be bull friendly while Fed policy statement should be a big yawn.

BLOG does NOT give buy or sell

Saleem

Indices closed UP .18% to .35%...NICE !!!!

 Indices closed UP near high of the day.

S&P 500 @ 5360.79, high 5365.79, low 5331.52

RSI @ 65.72

Internals were :

UP volume led by 1.13 to 1 in NYSE & 1.76 to 1 in Nasdaq

Advancing stocks led by 1.06 to 1 in NYSE & 1.01 to 1 in Nasdaq

Net new highs were leading by 46 in NYSE & lows by 87 in Nasdaq

VIX UP 4.26% @ 12.74

Oil @ $77.74

Gold @ $2328.50

Canadian $ @ .6241

Portfolio NVDA SHOP PLTR SMCI SOUN

Market kept moving UP on its own rhythm defocusing Fed & its non-decision on Wednesday 2 PM....

BLOG does NOT give buy or sell.

Saleem

US stock market & key AI stocks......

 US stock market is ignoring most fundamental issues like Interest rates, inflation & Fed policies as Wall Street is " too excited about AI " and its many benefits....

AI is all about making " more money " which overrides many " minor issues mentioned above...

AI is a worldwide phenomenon NOW....

Countries are not only competing for AI hardware / software but also getting data centers...

AI is a new race for enhancing productivity, leadership for excellence....

Every Industry is being impacted.....a new Industrial Revolution taking place....

As most investors / traders know this has " just started "

NOW that everyone understands that AI is real deal......BUT they are afraid of " valuations " of key stocks....

Here is a look @ their RSI as of Friday's close :

NVDA       74.87

AAPL        71.14

ARM         69.26

CRWD      59.85

MSFT       55.29

SMCI       41.36

As you can clearly see that leaders have healthy RSI .....

SMCI is a clear bargain .....

Best way to play AI is to have key players in your portfolio...like 3 from the above list to diversify in AI also.....

Whenever " new thing emerge on wall street " It is best to engage quickly and with conviction...

YES...you can always trade to book profit and reenter .....

You need to play your own trading style.....long term / short term / swing / daytrade

Hopefully most participants understand, AI is a faster way to make money these days.....

Good luck with your own strategy and comfort level.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .11% to 1.12%....

 Indices closed well above low of the day, mini reversal despite hotter than expected jobs data.

S&P 500 @ 5346.99, low 5331.33, high 5375.08

RSI @ 64.20

Internals :

Down volume led by 2.63 to 1 in NYSE & 1.40 to 1 in Nasdaq

Declining stocks led by 2.72 to 1 in NYSE & 2.60 to 1 in Nasdaq

Net new highs were leading by 73 in NYSE & lows by 88 in Nasdaq

VIX Down 2.86% @ 12.22

Oil @ $75.53

Gold @ $2323.80

Canadian $ @ .6240

In my portfolio :

Sold BTCC.TO @ $13.41

Bought SMCI.NE @ $26.30

Here is my portfolio weighting :

NVDA          37.29%

SHOP         30.09%

PLTR         21.94%

SMCI         9.16%

SOUN       1.52%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed in anticipation of Jobs report.

S&P 500 @ 5352.96, low 5335.36, high 5362.35

RSI @ 65.37

Internals :

UP volume led by 1.03 to 1 in NYSE & 1.11 to 1 in Nasdaq

Advancing stocks led by 1.05 to 1 in NYSE & .72 to 1 in Nasdaq

Net new highs were leading by 210 in NYSE & 5 in Nasdaq

VIX Down .40% @ 12.58

Oil @ $75.55

Gold @ $2393.00

Canadian $ @ .6311

Portfolio NVDA SHOP PLTR SOUN BTCC

Its all about jobs report, based on momentum, rally continues.....

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .25% to 1.96%...NICE !!!

 Indices closed @ high of the day and made new all time highs.

S&P 500 @ 5354.03, high 5354.16, low 5297.64

RSI @ 65.56

Internals :

UP volume led by 2.10 to 1 in NYSE & 2.50 to 1 in Nasdaq

Advancing stocks led by 2.39 to 1 in NYSE & 1.85 to 1 in Nasdaq

Net new highs were leading by 193 in NYSE & lows by 3 in Nasdaq

VIX Down 4.03% @ 12.63

Oil @ $74.07

Gold @ $2375.70

Canadian $ @ .6292

Portfolio NVDA SHOP PLTR BTCC SOUN

NVDA keeps making new all time highs and its market cap is higher than AAPL....tomorrow after close NVDA split 10 to 1 comes into effect as Thursday is date of record to qualify for this split.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .15% to .36%...NICE !!!

 Indices closed near high of the day on weaker economic data.

S&P 500 @ 5291.34, high 5298.80, low 5257.63

Internals :

Down volume led by 2.09 to 1 in NYSE & 1.11 to 1 in Nasdaq

Declining stocks led by 1.32 to 1 in NYSE & 1.88 to 1 in Nasdaq

Net new highs were leading by 35 in NYSE & lows by 89 in Nasdaq

VIX UP .38% @ 13.16

Oil @ $72.81

Gold @ $2347.40

Canadian $ @ .6311

Portfolio NVDA SHOP PLTR BTCC SOUN 

Internals were negative @ close which is NOT healthy.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed as economic data was weaker than expected.

S&P 500 @ 5283.40, high 5302.11, low 5234.32

RSI @ 57.77

Internals :

UP volume led by .68 to 1 in NYSE & 1.69 to 1 in Nasdaq

Advancing stocks led by 1.03 to 1 in NYSE & .96 to 1 in Nasdaq

Net new highs were leading by 144 in NYSE & lows by 2 in Nasdaq

VIX UP 1.47% @ 13.11

Oil @ $74.22

Gold @ $2368.60

Canadian $ @ .6369

In my portfolio :

Sold AMD.NE @ $31.54

Added 175% NVDA.NE @ $106.86

Here is my updated portfolio weighting :

NVDA     37.46%

SHOP      30.52%

PLTR      20.99%

BTCC      9.38%

SOUN     1.65%

Nasdaq continues its positive MOMO & NVDA going for new all time highs AGAIN....

BLOG does NOT give buy or sell.

Saleem

US stock market ready to rally again.....

 US stock market rally was stopped due to interest rate jitters.....

Finally on Friday there was capitulation followed by a " major reversal "

Hopefully we should go on for " series of new highs "

Technology remains a favorite place to overweight

Many sectors are performing on a selective / rotation basis

It IS important to have broad based portfolio to gain benefit from " rotation "

AI has been a success story where frontline players like NVDA stole the limelight but second tier may dent their absolute leadership by bringing also ran chips which may be 1 generation behind....

AI race is ON...with more players playing catchup......

Any new 52 week highs is worth noting in any sector...

Stock splitting season is here with NVDA & CMG as lead players....

May is gone with all its volatility BUT a much more calm June is here, take a look @ your portfolio and see IF it needs revamping...

Good luck with your own take of market / sectors...

BLOG does NOT give buy or sell.

Saleem