North Korea conflict fear gripped the market last week, the question is what happens this week.
Before we can answer that question, we have to look @ RSI, they are :
TAN 56.13
DOW 55.67
Nasdaq 43.27
SOX 42.71
S&P 500 39.94
XLE 36.29
RUT 31.43
Based on the above RSI number, it can safely be said that TAN & DOW is the place to be.
Nasdaq & SOX are in a recovery mode.
S&P 500, XLE & RUT are the weakest place to be.
BABA is reporting on Thursday before open, it has earning momentum, expecting to do well going forward.
NVDA may counter some of the negativity, Data center revenue growth was called into question, reasoning were spelled out in conference call.
TAPE should overcome North Korea conflict issue as diplomacy should prevail, but we have an urge to tweet about non issues.
It is important to have a good handle on your own portfolio in terms of fundamentals and technical pattern.
Sometimes market do test 50 DMA on indices and stocks, it does not necessarily means sell.
Hopefully by Friday of this week, we should repair most of the technical damage.
Good luck with your own interpretation of events and your comfort level.
BLOG does NOT give buy or sell.
Saleem
Sunday, August 13, 2017
Friday, August 11, 2017
Indices closed UP .07% to .64%....NICE !!!!
Indices closed higher on deeply oversold condition.
S&P 500 @ 2441.32, high 2448.09, low 2437.85
RSI @ 39.94
CMF @ 0.199
Internals were :
UP volume led by .81 to 1 in NYSE & 1.84 to 1 in Nasdaq
Advancing stocks led by 1.15 to 1 in NYSE & 1.10 to 1 in Nasdaq
Net new 52 wk lows were leading by 141 in NYSE & 103 in Nasdaq
VIX Down 3.30% @ 15.51
Oil @....NA
Gold @...NA
Canadian $ UP 65 tick @ .7324
Stocks which were UP 1% or more included SPWR
AAPL MCHP AMZN MU SWIR TWTR JKS COH
QRVO MSFT NFLX CSIQ FFIV MRVL TK RIG
LNG YELP FSLR TRIP DATA SHOP SPLK
ULTA SWKS OPK CMG LRCX......
Here is my portfolio weighting :
FB 40.54%
NVDA 26.05%
MOMO 15.62%
OCLR 12.61%
SPWR 5.18%
Next post by 2 PM on Sunday
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2441.32, high 2448.09, low 2437.85
RSI @ 39.94
CMF @ 0.199
Internals were :
UP volume led by .81 to 1 in NYSE & 1.84 to 1 in Nasdaq
Advancing stocks led by 1.15 to 1 in NYSE & 1.10 to 1 in Nasdaq
Net new 52 wk lows were leading by 141 in NYSE & 103 in Nasdaq
VIX Down 3.30% @ 15.51
Oil @....NA
Gold @...NA
Canadian $ UP 65 tick @ .7324
Stocks which were UP 1% or more included SPWR
AAPL MCHP AMZN MU SWIR TWTR JKS COH
QRVO MSFT NFLX CSIQ FFIV MRVL TK RIG
LNG YELP FSLR TRIP DATA SHOP SPLK
ULTA SWKS OPK CMG LRCX......
Here is my portfolio weighting :
FB 40.54%
NVDA 26.05%
MOMO 15.62%
OCLR 12.61%
SPWR 5.18%
Next post by 2 PM on Sunday
BLOG does NOT give buy or sell.
Saleem
Thursday, August 10, 2017
Indices closed down .93% to 2.13%.......
Indices closed down.
S&P 500 @ 2438.21, low 2437.75, high 2465.38
RSI @ 37.94
CMF @ 0.212
Internals were :
Down volume led by 6.67 to 1 in NYSE & 4.27 to 1 in Nasdaq
Declining stocks led by 6.56 to 1 in NYSE & 3.85 to 1 in Nasdaq
Net new 52 wk lows were leading by 83 in NYSE & 118 in Nasdaq
VIX UP 44.37% @ 16.04
Oil @ $48.59
Gold @ $1290.10
AH ER.....SNAP Down 16.78%, NVDA Down 6.71%
NVDA earnings report was stellar & better than anybody's expectation.
NVDA big beat on Sales , EPS and guidance.
Conference call was extremely upbeat and got around 4 congratulations from analysts.....why the slump during the day or AH....who knows????
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE reacted finally to North Korea's situation and closed @ low of the day, S&P 500 and Nasdaq closed well below 50 DMA, this resulted in more selling going into close and after hour. Many technicians are covering their portfolio with protection in many forms. Dow is well above 50 DMA, unless this important and strongest index stays above 50 DMA, i will not read too much into current technical weakness. CMF remained positive in all 3 major indices. Nasdaq RSI @ 37.72 is telling me that we may be near bottom of this slump. There is only a closing BLOG on Friday's, this time it will be right after regular close around 430PM.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2438.21, low 2437.75, high 2465.38
RSI @ 37.94
CMF @ 0.212
Internals were :
Down volume led by 6.67 to 1 in NYSE & 4.27 to 1 in Nasdaq
Declining stocks led by 6.56 to 1 in NYSE & 3.85 to 1 in Nasdaq
Net new 52 wk lows were leading by 83 in NYSE & 118 in Nasdaq
VIX UP 44.37% @ 16.04
Oil @ $48.59
Gold @ $1290.10
AH ER.....SNAP Down 16.78%, NVDA Down 6.71%
NVDA earnings report was stellar & better than anybody's expectation.
NVDA big beat on Sales , EPS and guidance.
Conference call was extremely upbeat and got around 4 congratulations from analysts.....why the slump during the day or AH....who knows????
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold UP
About market, TAPE reacted finally to North Korea's situation and closed @ low of the day, S&P 500 and Nasdaq closed well below 50 DMA, this resulted in more selling going into close and after hour. Many technicians are covering their portfolio with protection in many forms. Dow is well above 50 DMA, unless this important and strongest index stays above 50 DMA, i will not read too much into current technical weakness. CMF remained positive in all 3 major indices. Nasdaq RSI @ 37.72 is telling me that we may be near bottom of this slump. There is only a closing BLOG on Friday's, this time it will be right after regular close around 430PM.
BLOG does NOT give buy or sell.
Saleem
Indices down .61% to 1.60%......
North Korea rhetoric is taking a huge toll in markets today. Nasdaq is taking a huge hit.
S&P 500 @ 2448.14, low 2444.91, high 2465.38
Internals are negative by 6 to 1 in NYSE & 3 to 1 in Nasdaq
Oil Down 91 cents
Gold UP $11.91
Canadian $ Down 25 tick @ .7277
VIX UP 34.65% @ 14.96.....high today 15.49
In my portfolio :
Sold NTES $295.50
Bought MOMO @ $45.00
Added 200% OCLR @ $8.74
Sold OLED @ $112.50
Bought NVDA @ $168.41
Portfolio FB MOMO NVDA OCLR SPWR
Most stocks are down
@ 2.10 following are green :
GG ABX KGC YUM MCD AEM X.....
NVDA reports AH, here are the expectations :
Sales $1.96 billion, EPS 70 cents
Guidance next Q Sales $2.13 billion, EPS 79 cents
NVDA has a track record of beating estimates, expecting
no different this time!
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2448.14, low 2444.91, high 2465.38
Internals are negative by 6 to 1 in NYSE & 3 to 1 in Nasdaq
Oil Down 91 cents
Gold UP $11.91
Canadian $ Down 25 tick @ .7277
VIX UP 34.65% @ 14.96.....high today 15.49
In my portfolio :
Sold NTES $295.50
Bought MOMO @ $45.00
Added 200% OCLR @ $8.74
Sold OLED @ $112.50
Bought NVDA @ $168.41
Portfolio FB MOMO NVDA OCLR SPWR
Most stocks are down
@ 2.10 following are green :
GG ABX KGC YUM MCD AEM X.....
NVDA reports AH, here are the expectations :
Sales $1.96 billion, EPS 70 cents
Guidance next Q Sales $2.13 billion, EPS 79 cents
NVDA has a track record of beating estimates, expecting
no different this time!
BLOG does NOT give buy or sell.
Saleem
Wednesday, August 9, 2017
Indices closed down .04% to .28%......
Indices closed down.
S&P 500 @ 2474.02, low 2462.08, high 2474.41
RSI @ 58.86
CMF @ 0.292
Internals were :
Down volume led by 1.83 to 1 in NYSE & 1.80 to 1 in Nasdaq
Declining stocks led by 2.29 to 1 in NYSE & 2.47 to 1 in Nasdaq
Net new 52 wk lows were leading by 24 in NYSE & by 81 in Nasdaq
VIX UP 1.37% @ 11.11
Oil @ $49.56
Gold @ $1279.30
AH ER....NTES Down 2.87%
NTES earnings report was a beat....
Sales Actual $2.0 billion, expected $1.9 billion...
EPS Actual $3.86, expected $3.82
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold UP
About market, despite North Korea tension, indices closed @ high of the day, this reflects traders comfort level with this TAPE. Many strong stocks were on sale, i shuffled my portfolio for short term gains. Today's TAPE is very comforting for traders looking for opportunistic moves, both in selling and buying back. Many earnings report were not strong going into today, but one cannot tell they way we closed.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2474.02, low 2462.08, high 2474.41
RSI @ 58.86
CMF @ 0.292
Internals were :
Down volume led by 1.83 to 1 in NYSE & 1.80 to 1 in Nasdaq
Declining stocks led by 2.29 to 1 in NYSE & 2.47 to 1 in Nasdaq
Net new 52 wk lows were leading by 24 in NYSE & by 81 in Nasdaq
VIX UP 1.37% @ 11.11
Oil @ $49.56
Gold @ $1279.30
AH ER....NTES Down 2.87%
NTES earnings report was a beat....
Sales Actual $2.0 billion, expected $1.9 billion...
EPS Actual $3.86, expected $3.82
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold UP
About market, despite North Korea tension, indices closed @ high of the day, this reflects traders comfort level with this TAPE. Many strong stocks were on sale, i shuffled my portfolio for short term gains. Today's TAPE is very comforting for traders looking for opportunistic moves, both in selling and buying back. Many earnings report were not strong going into today, but one cannot tell they way we closed.
BLOG does NOT give buy or sell.
Saleem
Indices down .24% to .40%.....
Indices are down but have recovered nicely from lows of the day.
S&P 500 @ 2469.14, low 2462.08, high 2472.89
Internals are negative by 2 to 1
Oil UP 20 cents
Gold UP $17.60
Canadian $ Down 37 tick @ .7298
VIX UP 8.30% @ 11.87...high today 12.63....
In my portfolio :
Sold in pre-market
Sold WB @ $85.00
Sold MOMO $45.25
Sold OCLR $9.25
Bought NTES @ $304.00
Bought FB @ $170.11
Bought OCLR @ $8.81
Portfolio FB NTES OCLR OLED SPWR
Most stocks are down
@ 2.13 following are green :
NTES WB AAPL TSLA NVDA GG ABX KGC AEM
EXPE YUM ATHM TRIP SNAP ULTA KORS
NKE OPK ......
NTES reports AH, here are the expectations :
Sales $1.9 billion, EPS $3.82
Next Q guidance Sales $1.92 billion, EPS $3.56
Expecting a beat !
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2469.14, low 2462.08, high 2472.89
Internals are negative by 2 to 1
Oil UP 20 cents
Gold UP $17.60
Canadian $ Down 37 tick @ .7298
VIX UP 8.30% @ 11.87...high today 12.63....
In my portfolio :
Sold in pre-market
Sold WB @ $85.00
Sold MOMO $45.25
Sold OCLR $9.25
Bought NTES @ $304.00
Bought FB @ $170.11
Bought OCLR @ $8.81
Portfolio FB NTES OCLR OLED SPWR
Most stocks are down
@ 2.13 following are green :
NTES WB AAPL TSLA NVDA GG ABX KGC AEM
EXPE YUM ATHM TRIP SNAP ULTA KORS
NKE OPK ......
NTES reports AH, here are the expectations :
Sales $1.9 billion, EPS $3.82
Next Q guidance Sales $1.92 billion, EPS $3.56
Expecting a beat !
BLOG does NOT give buy or sell.
Saleem
Tuesday, August 8, 2017
Indices closed down .15% to .24%......
Indices closed down.
S&P 500 @ 2474.92, low 2470.32, high 2490.87
RSI @ 59.63
CMF @ 0.273
Internals were :
Down volume led by 1.75 to 1 in NYSE & 1.64 to 1 in Nasdaq
Declining stocks led by 1.73 to 1 in NYSE & 1.47 to 1 in Nasdaq
Net new 52 wk highs were leading by 90 in NYSE & 76 in Nasdaq
VIX UP 10.37% @ 10.96
Oil @ $49.17
Gold @ $1262.60
Stocks which were UP 1% or more included OCLR
BIDU TSLA VRX SWIR UA FNSR CHK
KORS.....
AH News :
DIS Down 3.86%, NFLX Down 3.12%
PCLN Down 6.65%, TRIP Down 8.6%
AH Futures Down
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE was UP and in new all time high in DOW & S&P 500, then news of tension between US & North Korea hit the TAPE and we retreated fast. Internals were mostly negative. On Wednesday TAPE will be dictated by events / news on North Korea. News on AH earnings is mixed, some good and some bad .
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2474.92, low 2470.32, high 2490.87
RSI @ 59.63
CMF @ 0.273
Internals were :
Down volume led by 1.75 to 1 in NYSE & 1.64 to 1 in Nasdaq
Declining stocks led by 1.73 to 1 in NYSE & 1.47 to 1 in Nasdaq
Net new 52 wk highs were leading by 90 in NYSE & 76 in Nasdaq
VIX UP 10.37% @ 10.96
Oil @ $49.17
Gold @ $1262.60
Stocks which were UP 1% or more included OCLR
BIDU TSLA VRX SWIR UA FNSR CHK
KORS.....
AH News :
DIS Down 3.86%, NFLX Down 3.12%
PCLN Down 6.65%, TRIP Down 8.6%
AH Futures Down
AH Asian Markets Mixed
AH Oil Down
AH Gold UP
About market, TAPE was UP and in new all time high in DOW & S&P 500, then news of tension between US & North Korea hit the TAPE and we retreated fast. Internals were mostly negative. On Wednesday TAPE will be dictated by events / news on North Korea. News on AH earnings is mixed, some good and some bad .
BLOG does NOT give buy or sell.
Saleem
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