Indices closed down 1.51% to 1.71%....

 Indices closed down @ low of the day @ the end of a bad day, bad week, bad month and bad quarter. September was the worse month since 2002.

S&P 500 @ 3585.62, low 3584.13, high 3671.44

RSI @ 28.47

CMF @ -0.040

Internals were :

Down volume led by 1.44 to 1 in NYSE & 2.37 to 1 in Nasdaq

Declining stocks led by 1.45 to 1 in NYSE & 1.38 to 1 in Nasdaq

Net new lows were leading by 795 in NYSE & 515 in Nasdaq

VIX Down .69% @ 31.62

Oil @ $79.49

Gold @ $1672.00

Canadian $ @ .6216

Stocks which closed green included PLTR SOL SOFI

JKS FSLR SPWR SHOP TJX HOOD AG COIN 

TWTR PAAS GOLD AEM DDOG BABA 

PDD MSTR PENN .....

Here is my portfolio weighting :

ARKK          30.88%

MGM         19.11%

UAL           17.11%

LSPD        11.30%

PLTR          9.50%

SOFI          6.28%

SOL           4.42%

XPEV       1.40%

Next post by 6 PM on Sunday

BLOG does NOT give buy or sell.

Saleem

Indices closed down 1.54% to 2.84%....

 Indices closed down.

S&P 500 @ 3640.47, low 3610.40, high 3687.01

RSI @ 30.97

CMF @ 0.068

Internals were :

Down volume led by 6.54 to 1 in NYSE & 5.29 to 1 in Nasdaq

Declining stocks led by 5.02 to 1 in NYSE & 3.07 to 1 in Nasdaq

Net new lows were leading by 1177 in NYSE & 741 in Nasdaq

VIX UP 5.50% @ 31.84

Oil @ $81.23

Gold @ $1668.60

Canadian $ @ .6216

Portfolio ARKK LSPD PLTR MGM SOL SOFI UAL XPEV

Stocks which closed green included PLTR

APA TECK FCX PAAS AEM GOLD

CNQ OXY SLB LNG V....

AH Futures Down

AH Asian Markets Down

AH Oil Down

AH Gold UP

About market, TAPE was weak again and closed lower. Yield was UP again and hawkish statement by Fed official put the fear of " pain " back in the psyche of traders / Investors. Internals were weak. Very few stocks made it in the green by close.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 1.88% to 2.05%...NICE !!!

 Indices closed UP.

S&P 500 @ 3719.04, high 3736.74, low 3640.61

RSI @ 35.01

CMF @ 0.027

Internals were :

UP volume led by 10.96 to 1 in NYSE & 5.82 to 1 in Nasdaq

Advancing stocks led by 5.82 to 1 in NYSE & 3.66 to 1 in Nasdaq

Net new lows were leading by 433 in NYSE & 333 in Nasdaq

VIX Down 7.42% @ 30.18

Oil @ $82.15

Gold @ $1670.00

Canadian $ @ .6346

Portfolio ARKK LSPD PLTR MGM SOL SOFI UAL XPEV

Stocks which were UP 4% or more included ARKK LSPD PLTR

NCLH SHOP RIOT HST CNX APA PYPL TECK SQ M BMBL

PAAS LAC MGNI MSTR PINS GOLD PENN NEM AEM

DOCU ZI TOL KBH DHI PHM ESTC BA BYND TWLO

META BABA NFLX OXY DLB LNG RH BROS ...

AH Futures Down

AH Asian Markets UP

AH Oil & Gold Down

About market, TAPE started red but as yields went down Indices kept going UP closing near high of the day. Internals were strong. Most sectors participated in today's rally which saw high single digit gains. Sentiment improved substantially for traders & Investors while bears were nowhere to be seen. Most technicians are predicting max 5% rally from lows.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 3647.29, low 3623.28, high 3717.53

RSI @ 26.86

CMF @ -0.024

Internals were :

UP volume led by .96 to 1 in NYSE & 1.51 to 1 in Nasdaq

Advancing stocks led by .80 to 1 in NYSE & 1.03 to 1 in Nasdaq

Net new lows were leading by 1475 in NYSE & 859 in Nasdaq

VIX UP 1.05% @ 32.60

Oil @ $78.50

Gold @ $1636.20

Canadian $ @ .6256

Portfolio ARKK LSPD PLTR MGM SOL SOFI UAL XPEV

Stocks which were UP 2% + ARKK LSPD SOL UAL

NCLH CNX APA SNAP RUN CCL RCL NTR MOS

FSLR CSIQ HOOD MU CCJ M X JBLU BMBL CLF 

MSTR DKNG LYFT ZI CRWD ESTC NVAX EAT

MRNA TSLA EXPE LNG YELP RH GOOS....

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE tried to rally again on extremely oversold conditions but bears still prevailed except for Nasdaq which closed green after a major fight. All day Transport gave a clear " contrary signal " that all is not bad and they were not confirming DOW theory today. Internals were mixed. Many sectors showed green by close, a good sign for bulls.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .60% to 1.11%.....

 Indices closed down.

S&P 500 @ 3655.04, low 3644.76, high 3715.67

RSI @ 27.20

CMF @ -0.015

Internals were :

Down volume led by 6.48 to 1 in NYSE & 2.50 to 1 in Nasdaq

Declining stocks led by 5.35 to 1 in NYSE & 2.31 to 1 in Nasdaq

Net new lows were leading by 1760 in NYSE & 961 in Nasdaq

VIX UP 7.82% @ 32.36

Oil @ $76.71

Gold @ $1633.40

Canadian $ @ .6252

Portfolio ARKK LSPD PLTR MGM SOL SOFI UAL XPEV

Stocks which closed green included PLTRXPEV

RIOT MGA LULU COIN AAPL WYNN

MSTR BIDU PINS PANW PDD 

JD TWLO TSLA AMZN LVS...

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE was green @ open then higher yield threw cold water on this rally, Indices closed near low of the day. EV & Crypto related stocks did OK. Internals were very weak. VIX Spiked UP near 52 wk high. Hopefully " turnaround Tuesday " really turns it around.

BLOG does NOT give buy or sell.

Saleem

US stock market to stage deeply oversold bounce....

 US stock market is in deepest technical trouble since 2008.

US stocks are making new lows in many many sectors, some are making 2 year lows 

We have come down fast in a hurry taking out key technical levels since Wednesday's Fed meeting.

YES we are deeply oversold....

YES we are ready for a bounce.....

How long this deeply oversold bounce will last, based on technical weakness, we may make lower highs and then lower lows.

The bigger question IS, IF we are heading to new lows, then 2000+ is next support.....

This may take few months like end of this year....

Based on technical picture, every trader and investor has to factor this new lows scenario.

Portfolio needs to be based on conviction and then show patience, it may be a very long haul before you see green in your portfolio.

A broad based portfolio with exposure to many sectors should workout, no more hoping for a or many homeruns....

Based on RSI read as of Friday's close :

DOW               27.39

S&P 500         28.90

Russell 2000  28.91

XLB               29.21

Nasdaq          29.90

JETS             29.90

GLD              30.29

SOX              30.60

TAN              32.12

XLE             32.13

Based on above read, you can quickly see that in my universe of sectors strongest read is 32.13 which is XLE.

Four sectors have violated June lows.....

DOW is @ below support and @ lower low...

SOX @ new low

XLB @ new low

JETS @ new low

GLD @ new low

All sectors are below both 50 & 200 DMA.....something rarely seen in markets...

Understanding the under pinning is extremely important.

Investment & trading expectation needs to be realistic

Being prepared for worst scenario can be a good strategy, it definitely will bring your expectations way down which may be good for stress management......

Good luck with your own understanding of this market.

BLOG does NOT give buy or sell.

Saleem

Indices closed down 1.62% to 1.80%...

 Indices closed down on " pain jitters ". Every sector was in deep trouble violating key support. Internals were extremely negative worst in decade.

S&P 500 @ 3693.23, low 3647.47, high 3727.14

RSI @ 28.90

CMF @ -0.020

Internals were :

Down volume led by 9.68 to 1 in NYSE & 2.74 to 1 in Nasdaq

Declining stocks led by 7.89 to 1 in NYSE & 3.94 to 1 in Nasdaq

Net new 52 wk lows were leading by 1739 in NYSE & 1207 in Nasdaq

VIX UP 9.40% @ 29.92...high today 32.31, 52 wk high 38.94

Oil @ $78.74

Gold @ $1655.60

Canadian $ @ .6417

Stocks which closed green included PLTR

SHOP MU SQ TWTR QRVO SNOW

TOL KBH DHI PHM BYND LVS...

Here is my portfolio weighting :

ARKK       30.94%

MGM       19.31%

UAL         17.39%

LSPD      10.81%

PLTR         8.65%

SOFI         6.82%

SOL          4.48%

XPEV      1.60%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem