Indices closed mixed.
S&P 500 @ 2709.80, high 2718.05, low 2703.79
RSI @ 60.82
CMF @ 0.365
Internals were :
UP volume led by 1.45 to 1 in NYSE & 1.14 to 1 in Nasdaq
Advancing stocks led by 1.82 to 1 in NYSE & 1.52 to 1 in Nasdaq
Net new 52 wk highs were leading by 86 in NYSE & 33 in Nasdaq
VIX UP 1.59% @ 15.97
Oil @ $52.41
Gold @ $1311.90
Stocks which were UP 2% or more included TSLA
WB SWN FEYE CIEN CSIQ MRVL OLED TK
FSLR JKS MLNX CMG X.....
AH news....BV UP 15.38%, PYX UP 12.04%
CHGG UP 9.48%, EA UP 6.03%
AH Futures UP
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE was in neutral mode waiting for development on shutdown and trade meeting with China & US, shutdown has an agreement / framework in place which is lifting futures.
I will call today's action as positive as mixed close is more than OK. We must watch how we close daily which is more important than open.
BLOG does NOT give buy or sell.
Saleem
Monday, February 11, 2019
Indices mixed.....
Indices are mixed despite China USA on table to discuss trade this week. Shutdown again in focus and traders are not happy.
S&P 500 @ 2707.19, low 2704.98, high 2718.05
Internals are positive.
Oil Down 48 cents
Gold Down $6.40
Canadian $ Down 23 tick @ .6701
VIX UP 3.44% @ 16.26
Portfolio SQ TSLA TWTR
Most stocks are UP
@ 2.06 PM following are red :
FB BIDU NVDA AMD MU NIU ROKU AEM
CGC TLRY EXPE NFLX PANW ALDR
LNG BIDU WYNN MS OSTK ....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2707.19, low 2704.98, high 2718.05
Internals are positive.
Oil Down 48 cents
Gold Down $6.40
Canadian $ Down 23 tick @ .6701
VIX UP 3.44% @ 16.26
Portfolio SQ TSLA TWTR
Most stocks are UP
@ 2.06 PM following are red :
FB BIDU NVDA AMD MU NIU ROKU AEM
CGC TLRY EXPE NFLX PANW ALDR
LNG BIDU WYNN MS OSTK ....
BLOG does NOT give buy or sell.
Saleem
Sunday, February 10, 2019
USA China trade stalemate may affect stock market....
China & USA are heading into a very difficult stage of trade negotiations, Trump wants all the concessions which he has outlined, but Chinese team are not going to fall for it, thus a stalemate and it can get worse.
How all this will affect stock market is unknown, Kudlow the pragmatic may lose out to hawk / clones of Trump in the team.
Let us look @ RSI where it is sitting :
Nasdaq 59.50
DOW 60.18
S&P 500 60.52
SOX 61.12
RUT 62.00
IF we look @ RSI, it is showing a picture of bull market, pretty much in 60 area. 60 area is considered overbought in a normal market, we did go well above close to 70 in SOX and it has pulled back.
Other way is to look @ chart where 200 DMA rules as point of resistance or breakout in current scenario.
Based on charts, SOX and DOW are above 200 DMA while Nasdaq & RUT are weakest in relationship to how far they are down from 200 DMA....
To say the least chart is NOT giving a clear picture of strength or weakness, I will say, it is neutral @ best.
SO...based on two analysis verdict is neutral and may go in either direction based on when Trump blinks and rekindles hope for a trade deal with China.
SO...be ready for a trade driven roller coaster ride.
Most FANG stocks are not the leader this time around which is a concern, we need strong leadership stocks which is missing CMG is doing well.
SO...I have been in an " underweight mode " until I feel there is a trade deal which looks imminent.
We have only 14 trading days left for March 1st trade deal deadline, market hates uncertainty.
Good luck with your own strategy and comfort level.
BLOG does NOT give buy or sell.
Saleem
How all this will affect stock market is unknown, Kudlow the pragmatic may lose out to hawk / clones of Trump in the team.
Let us look @ RSI where it is sitting :
Nasdaq 59.50
DOW 60.18
S&P 500 60.52
SOX 61.12
RUT 62.00
IF we look @ RSI, it is showing a picture of bull market, pretty much in 60 area. 60 area is considered overbought in a normal market, we did go well above close to 70 in SOX and it has pulled back.
Other way is to look @ chart where 200 DMA rules as point of resistance or breakout in current scenario.
Based on charts, SOX and DOW are above 200 DMA while Nasdaq & RUT are weakest in relationship to how far they are down from 200 DMA....
To say the least chart is NOT giving a clear picture of strength or weakness, I will say, it is neutral @ best.
SO...based on two analysis verdict is neutral and may go in either direction based on when Trump blinks and rekindles hope for a trade deal with China.
SO...be ready for a trade driven roller coaster ride.
Most FANG stocks are not the leader this time around which is a concern, we need strong leadership stocks which is missing CMG is doing well.
SO...I have been in an " underweight mode " until I feel there is a trade deal which looks imminent.
We have only 14 trading days left for March 1st trade deal deadline, market hates uncertainty.
Good luck with your own strategy and comfort level.
BLOG does NOT give buy or sell.
Saleem
Friday, February 8, 2019
Indices closed mixed.....
Indices closed mixed but @ high of the day. China & USA are heading for a showdown in trade dispute after 14 trading days, that may not bode well for market long before that, so jitters continue.
S&P 500 @ 2707.88, high 2708.07, low 2681.83
RSI @ 60.62
CMF @ 0.414
Internals were :
Down volume led by 1.19 to 1 in NYSE & .89 to 1 in Nasdaq
Declining stocks led by 1.15 to 1 in NYSE & 1.04 to 1 in Nasdaq
Net new 52 wk highs were leading by 58 in NYSE & 3 in Nasdaq
VIX Down 3.97% @ 15.72
Oil @ $52.72
Gold @ $1312.50
Canadian $ @ .6724
Stocks which were UP 2% or more included SQ
SHOP ESTC IQ ROKU SPLK EXPE PANW
NTNX TK YELP SINA OSTK.....
Here is my portfolio allocation :
TWTR 39.70%
SQ 37.80%
TSLA 22.50%
Based on 40% exposure...
Next post by 6 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2707.88, high 2708.07, low 2681.83
RSI @ 60.62
CMF @ 0.414
Internals were :
Down volume led by 1.19 to 1 in NYSE & .89 to 1 in Nasdaq
Declining stocks led by 1.15 to 1 in NYSE & 1.04 to 1 in Nasdaq
Net new 52 wk highs were leading by 58 in NYSE & 3 in Nasdaq
VIX Down 3.97% @ 15.72
Oil @ $52.72
Gold @ $1312.50
Canadian $ @ .6724
Stocks which were UP 2% or more included SQ
SHOP ESTC IQ ROKU SPLK EXPE PANW
NTNX TK YELP SINA OSTK.....
Here is my portfolio allocation :
TWTR 39.70%
SQ 37.80%
TSLA 22.50%
Based on 40% exposure...
Next post by 6 PM on Sunday.
BLOG does NOT give buy or sell.
Saleem
Thursday, February 7, 2019
Indices closed down .87% to 1.18%.....
Indices closed down.
S&P 500 @ 2706.05, low 2687.26, high 2719.32
RSI @ 60.25
CMF @ 0.414
Internals were :
Down volume led by 2.69 to 1 in NYSE & 2.25 to 1 in Nasdaq
Declining stocks led by 2.20 to 1 in NYSE & 2.07 to 1 in Nasdaq
Net new 52 wk high were leading by 36 in NYSE & lows by 1 in Nasdaq
VIX UP 6.44% @ 16.37
Oil @ $52.24
Gold @ $1313.60
AH news...HAIN Down 8.67%, ANGI Down 6.05%
SKX UP 18.23%, MAT UP 17.80%
AH Futures Down
AH Asian markets Mixed
Oil & Gold Down
About market, TAPE was under selling pressure from open but closed above lows of the day in midpoint, culprit seems to be overbought conditions & China US trade seems to be wide apart from any solutions, thus market may remain under pressure for Friday's. There is only a closing BLOG on Friday's around 7 PM.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2706.05, low 2687.26, high 2719.32
RSI @ 60.25
CMF @ 0.414
Internals were :
Down volume led by 2.69 to 1 in NYSE & 2.25 to 1 in Nasdaq
Declining stocks led by 2.20 to 1 in NYSE & 2.07 to 1 in Nasdaq
Net new 52 wk high were leading by 36 in NYSE & lows by 1 in Nasdaq
VIX UP 6.44% @ 16.37
Oil @ $52.24
Gold @ $1313.60
AH news...HAIN Down 8.67%, ANGI Down 6.05%
SKX UP 18.23%, MAT UP 17.80%
AH Futures Down
AH Asian markets Mixed
Oil & Gold Down
About market, TAPE was under selling pressure from open but closed above lows of the day in midpoint, culprit seems to be overbought conditions & China US trade seems to be wide apart from any solutions, thus market may remain under pressure for Friday's. There is only a closing BLOG on Friday's around 7 PM.
BLOG does NOT give buy or sell.
Saleem
Indices down 1.48% to 1.66%.....
Indices are down in reaction to overbought conditions & stalemate in trade talks between US & China ( what else is new )
S&P 500 @ 2693.43, low 2687.26, high 2719.32
Internals are negative from 2.5 to 1 to 4 to 1
Oil Down $1.54
Gold Down 10 cents
Canadian $ Down 94 tick @ .6694
VIX UP 10.79% @ 17.04
Portfolio SQ TSLA TWTR
Most stocks are down
@ 2.31 PM following are UP :
MTCH PHM LULU KORS CRON TLRY KBH
CMG M.....
TWTR reported a beat in Q 4 Sales & EPS.
But is guiding Q 1 revenue lower by $20 million
thus stock is down currently 9.72%
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2693.43, low 2687.26, high 2719.32
Internals are negative from 2.5 to 1 to 4 to 1
Oil Down $1.54
Gold Down 10 cents
Canadian $ Down 94 tick @ .6694
VIX UP 10.79% @ 17.04
Portfolio SQ TSLA TWTR
Most stocks are down
@ 2.31 PM following are UP :
MTCH PHM LULU KORS CRON TLRY KBH
CMG M.....
TWTR reported a beat in Q 4 Sales & EPS.
But is guiding Q 1 revenue lower by $20 million
thus stock is down currently 9.72%
BLOG does NOT give buy or sell.
Saleem
Wednesday, February 6, 2019
Indices closed down .08% to .36%.....
Indices closed down.
S&P 500 @ 2731.61, low 2724.15, high 2738.08
RSI @ 66.07
CMF @ 0.416
Internals were :
Down volume led by 1.99 to 1 in NYSE & 1.07 to 1 in Nasdaq
Declining stocks led by 1.49 to 1 in NYSE & 1.09 to 1 in Nasdaq
Net new 52 wk highs were leading by 68 in NYSE & 30 in Nasdaq
VIX Down 1.22% @ 15.38
Oil @ $54.01
Gold @ $1314.40
AH news...USAT Down 24.27%, FEYE Down 7.98%
CMG UP 10.42%, MTCH UP 12.28%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE rested from overbought condition and dipped slightly, this strength reflects inflow for February and good earnings. Gains may be limited very near term as we may need time to digest earnings. TWTR is on my radar for AH earnings, trend has been positive for this sector as FB & SNAP beat earnings expectations
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2731.61, low 2724.15, high 2738.08
RSI @ 66.07
CMF @ 0.416
Internals were :
Down volume led by 1.99 to 1 in NYSE & 1.07 to 1 in Nasdaq
Declining stocks led by 1.49 to 1 in NYSE & 1.09 to 1 in Nasdaq
Net new 52 wk highs were leading by 68 in NYSE & 30 in Nasdaq
VIX Down 1.22% @ 15.38
Oil @ $54.01
Gold @ $1314.40
AH news...USAT Down 24.27%, FEYE Down 7.98%
CMG UP 10.42%, MTCH UP 12.28%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE rested from overbought condition and dipped slightly, this strength reflects inflow for February and good earnings. Gains may be limited very near term as we may need time to digest earnings. TWTR is on my radar for AH earnings, trend has been positive for this sector as FB & SNAP beat earnings expectations
BLOG does NOT give buy or sell.
Saleem
Subscribe to:
Posts (Atom)