Indices are slightly down on profit taking.
S&P 500 @ 2729.73, low 2724.15, high 2738.08
Internals are mostly negative
Oil UP 79 cents
Gold Down $7.70
Canadian $ Down 75 tick @ .6801
VIX Down 1.09% @ 15.40
Portfolio SQ TSLA TWTR
Most stocks are down
@ 2.32 following are UP :
SQ NVDA AMD MU IQ UAL FSLR AMAT
CRUS CSIQ EXPE FFIV JKS LRCX
MRVL OLED PANW QRVO ALDR
YELP WYNN LVS OSTK TSM
SWKS IBM
BLOG does NOT give buy or sell.
Saleem
Wednesday, February 6, 2019
Tuesday, February 5, 2019
Indices closed UP .47% to .74% ...NICE !!!!
Indices closed UP.
S&P 500 @ 2737.70, high 2738.98, low 2724.03
RSI @ 67.52
CMF @ 0.443
Internals were :
UP volume led by 1.68 to 1 in NYSE & 1.39 to 1 in Nasdaq
Advancing stocks led by 2.01 to 1 in NYSE & 1.30 to 1 in Nasdaq
Net new 52 wk highs were leading by 111 in NYSE & 57 in Nasdaq
VIX Down 1.02% @ 15.57
Oil @ $53.66
Gold @ $1319.20
Stocks which were UP 2% or more included TSLA
MOMO IQ MTCH PHM VICR BABA EXPE
OLED SPWR WYNN GS TRIP OSTK...
AH news...SNAP UP 19.46%, SWKS UP 5.37%
MCHP UP 4.4%, EA Down 17.52%
AH Futures Down
AH Asian Markets Mixed
AH oil UP
AH Gold Down
About market, TAPE overcame lower guidance from GOOG and it actually closed higher after opening down. Earnings are better tonight also from SNAP & chip sector. Internals closed higher. State of the union normally have positive effect but with wall hanging in the air, it may be different this time.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2737.70, high 2738.98, low 2724.03
RSI @ 67.52
CMF @ 0.443
Internals were :
UP volume led by 1.68 to 1 in NYSE & 1.39 to 1 in Nasdaq
Advancing stocks led by 2.01 to 1 in NYSE & 1.30 to 1 in Nasdaq
Net new 52 wk highs were leading by 111 in NYSE & 57 in Nasdaq
VIX Down 1.02% @ 15.57
Oil @ $53.66
Gold @ $1319.20
Stocks which were UP 2% or more included TSLA
MOMO IQ MTCH PHM VICR BABA EXPE
OLED SPWR WYNN GS TRIP OSTK...
AH news...SNAP UP 19.46%, SWKS UP 5.37%
MCHP UP 4.4%, EA Down 17.52%
AH Futures Down
AH Asian Markets Mixed
AH oil UP
AH Gold Down
About market, TAPE overcame lower guidance from GOOG and it actually closed higher after opening down. Earnings are better tonight also from SNAP & chip sector. Internals closed higher. State of the union normally have positive effect but with wall hanging in the air, it may be different this time.
BLOG does NOT give buy or sell.
Saleem
Indices UP .16% to .46%....NICE !!!!
Indices are higher on inflow into equities, GOOG poor guidance had minimum effect on stock and technology.
S&P 500 @ 2730.56, high 2738.46, low 2724.03
Internals are mixed
Oil Down 82 cents
Gold Down 60 cents
Canadian $ Down 26 tick @ .6864
VIX Down 1.91% @ 15.43
Portfolio SQ TSLA TWTR
Most stocks are UP
@ 2.07 following are red :
AMD SWN AEM GG FSLR CRON CGC TLRY
PRNB CIEN CSIQ EAF PANW ALDR CHK RIG
LNG YELP FNSR SINA SU CMG ....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2730.56, high 2738.46, low 2724.03
Internals are mixed
Oil Down 82 cents
Gold Down 60 cents
Canadian $ Down 26 tick @ .6864
VIX Down 1.91% @ 15.43
Portfolio SQ TSLA TWTR
Most stocks are UP
@ 2.07 following are red :
AMD SWN AEM GG FSLR CRON CGC TLRY
PRNB CIEN CSIQ EAF PANW ALDR CHK RIG
LNG YELP FNSR SINA SU CMG ....
BLOG does NOT give buy or sell.
Saleem
Monday, February 4, 2019
Indices UP .68% to 1.15%....NICE !!!!
Indices closed UP.
S&P 500 @ 2724.87, high 2724.99, low 2698.75
RSI @ 66.07
CMF @ 0.413
Internals were :
UP volume led by 2.36 to 1 in NYSE & 2.05 to 1 in Nasdaq
Advancing stocks led by 2.06 to 1 in NYSE & 2.19 to 1 in Nasdaq
Net new 52 wk highs were leading by 62 in NYSE & 41 in Nasdaq
VIX Down 2.54% @ 15.73
Oil @ $54.56
Gold @ $1319.30
Stocks which were UP 2% or more included TWTR
FB FEYE NIU ROKU AAPL VICR CRON JKS
NTNX RIG NFLX MSFT SU X.....
AH news...OPK Down 14.2%, GLUU Down 11.67%
GOOG Down 2.84%
AH Futures Down
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE hesitated @ open, then closed @ high of the day, GOOG came in with below expectation guidance in AH, IF market can take bad earnings from AMZN and GOOG in stride and close higher on Tuesday, it will be a victory for bull, based on inflow for February, I will not be surprised @ green close.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2724.87, high 2724.99, low 2698.75
RSI @ 66.07
CMF @ 0.413
Internals were :
UP volume led by 2.36 to 1 in NYSE & 2.05 to 1 in Nasdaq
Advancing stocks led by 2.06 to 1 in NYSE & 2.19 to 1 in Nasdaq
Net new 52 wk highs were leading by 62 in NYSE & 41 in Nasdaq
VIX Down 2.54% @ 15.73
Oil @ $54.56
Gold @ $1319.30
Stocks which were UP 2% or more included TWTR
FB FEYE NIU ROKU AAPL VICR CRON JKS
NTNX RIG NFLX MSFT SU X.....
AH news...OPK Down 14.2%, GLUU Down 11.67%
GOOG Down 2.84%
AH Futures Down
AH Asian Markets Mixed
AH Oil UP
AH Gold Down
About market, TAPE hesitated @ open, then closed @ high of the day, GOOG came in with below expectation guidance in AH, IF market can take bad earnings from AMZN and GOOG in stride and close higher on Tuesday, it will be a victory for bull, based on inflow for February, I will not be surprised @ green close.
BLOG does NOT give buy or sell.
Saleem
Indices UP .35% to 1.00%....NICE !!!!
Indices are higher as February inflow is put into equities.Indices are @ high of the day.
S&P 500 @ 2718.84, high 2718.87, low 2698.75
Internals are positive by 2 to 1
Oil Down 77 cents
Gold Down $4.20
Canadian $ Down 35 tick @ .6867
VIX Down 2.48% @ 15.74
Portfolio SQ TSLA TWTR
Most stocks are UP
@ 2.06 following are red :
MOMO AMD SWN MU MTCH PHM PRNB
AMAT BABA CIEN PANW QRVO ALDR
CHK LNG CIEN WYNN LVS SINA ULTA
KBH CNX......
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2718.84, high 2718.87, low 2698.75
Internals are positive by 2 to 1
Oil Down 77 cents
Gold Down $4.20
Canadian $ Down 35 tick @ .6867
VIX Down 2.48% @ 15.74
Portfolio SQ TSLA TWTR
Most stocks are UP
@ 2.06 following are red :
MOMO AMD SWN MU MTCH PHM PRNB
AMAT BABA CIEN PANW QRVO ALDR
CHK LNG CIEN WYNN LVS SINA ULTA
KBH CNX......
BLOG does NOT give buy or sell.
Saleem
Sunday, February 3, 2019
Indices getting overbought.....
Indices are getting overbought, we had a very nice rally since start of the year, 5 straight week we have been UP UP & UP.
Let us look @ RSI picture of various sector of this market, and they are :
Nasdaq 61.38
SOX 62.41
DOW 63.45
S&P 500 63.93
RUT 64.13
Most of the above have risen from below 30 near the end of the year, I have found RSI as a very good indicator of predicting " major turning point " and it gives me a clear signal that things are all set to reverse irrespective of bullish or bearish noise.
Obviously quick money has been made already, FDN Dow Internet index is UP 13.42% in January alone, that is well above historical average gain of 8% in a year
As this is the start of the month, there is a chance of money inflow which may push most indices into deeply overbought situation.
We are approaching or have reached major resistance of 200 DMA which needs to be monitored.
Technically speaking SOX is the most vulnerable.
Russell has lot of room from 200 DMA which is a good area to look.
DOW, S&P 500 & Nasdaq are all approaching 200 DMA a major resistance area.
Investor sentiment is getting euphoric based on Fed reversal, this aspect has been played out already and may be priced in.
China & US trade talks has a deadline of end of March, it is left to be seen IF enough progress is being made, @ the conclusion of each meeting there is carefully worded optimistic picture is given, but when they both reached their base, cautionary statement and highlighting differences emerges.
Bottom line is, it is better to wait out 2 weeks before putting new ideas to work generally speaking, it looks very " calm before pullbacks "
Some technician are of the opinion that, this a bear market rally and is ready for reversal.
Good luck with your own interpretation of this market and your comfort level.
BLOG does NOT give buy or sell.
Saleem
Let us look @ RSI picture of various sector of this market, and they are :
Nasdaq 61.38
SOX 62.41
DOW 63.45
S&P 500 63.93
RUT 64.13
Most of the above have risen from below 30 near the end of the year, I have found RSI as a very good indicator of predicting " major turning point " and it gives me a clear signal that things are all set to reverse irrespective of bullish or bearish noise.
Obviously quick money has been made already, FDN Dow Internet index is UP 13.42% in January alone, that is well above historical average gain of 8% in a year
As this is the start of the month, there is a chance of money inflow which may push most indices into deeply overbought situation.
We are approaching or have reached major resistance of 200 DMA which needs to be monitored.
Technically speaking SOX is the most vulnerable.
Russell has lot of room from 200 DMA which is a good area to look.
DOW, S&P 500 & Nasdaq are all approaching 200 DMA a major resistance area.
Investor sentiment is getting euphoric based on Fed reversal, this aspect has been played out already and may be priced in.
China & US trade talks has a deadline of end of March, it is left to be seen IF enough progress is being made, @ the conclusion of each meeting there is carefully worded optimistic picture is given, but when they both reached their base, cautionary statement and highlighting differences emerges.
Bottom line is, it is better to wait out 2 weeks before putting new ideas to work generally speaking, it looks very " calm before pullbacks "
Some technician are of the opinion that, this a bear market rally and is ready for reversal.
Good luck with your own interpretation of this market and your comfort level.
BLOG does NOT give buy or sell.
Saleem
Friday, February 1, 2019
Indices closed mixed.....
Indices closed mixed.Nasdaq took a well deserved rest after being very strong for a several weeks, AMZN poor guidance also impacted.Jobs report came way hotter than expected @ 304 K with no wage inflation.
S&P 500 @ 2706.53, high 2716.66, low 2596.88
RSI @ 63.93
CMF @ 0.411
Internals were :
UP volume led by 1.22 to 1 in NYSE & 1.80 to 1 in Nasdaq
Advancing stocks led by 1.33 to 1 in NYSE & 1.37 to 1 in Nasdaq
Net new 52 wk highs were leading by 89 in NYSE & 40 in Nasdaq
VIX Down 2.60% @ 16.14
Oil @ $55.37
Gold @ $1322.00
Canadian $ @ .6901
Stocks which were UP 1% or more included TSLA
SHOP ESTC MU MTCH FEYE NIU KORS SPLK
CRON TLRY EAF EXPE LRCX PANW RIG
LNG YELP WYNN LVS MLNX MA ORCL
OSTK SWKS KBH V....
Here is my portfolio weighting :
TWTR 42.50%
SQ 35.30%
TSLA 22.20%
Above is based on 40% exposure vs normal
Next post by 6 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2706.53, high 2716.66, low 2596.88
RSI @ 63.93
CMF @ 0.411
Internals were :
UP volume led by 1.22 to 1 in NYSE & 1.80 to 1 in Nasdaq
Advancing stocks led by 1.33 to 1 in NYSE & 1.37 to 1 in Nasdaq
Net new 52 wk highs were leading by 89 in NYSE & 40 in Nasdaq
VIX Down 2.60% @ 16.14
Oil @ $55.37
Gold @ $1322.00
Canadian $ @ .6901
Stocks which were UP 1% or more included TSLA
SHOP ESTC MU MTCH FEYE NIU KORS SPLK
CRON TLRY EAF EXPE LRCX PANW RIG
LNG YELP WYNN LVS MLNX MA ORCL
OSTK SWKS KBH V....
Here is my portfolio weighting :
TWTR 42.50%
SQ 35.30%
TSLA 22.20%
Above is based on 40% exposure vs normal
Next post by 6 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
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