Indices closed mixed.
S&P 500 @ 2163.78, low 2159.01, high 2164.63
RSI @ 64.92
CMF @ 0.226
Internals were :
Down volume led by 1.62 to 1 in NYSE & 1.98 to 1 in Nasdaq
Declining stocks led by 1.43 to 1 in NYSE & 1.87 to 1 in Nasdaq
Net new 52 wk highs were leading by 167 in NYSE & 55 in Nasdaq
VIX Down 3.78% @ 11.97...not good for bulls
Oil @ $44.65
Gold @ $1332.30
AH ER ...MSFT UP 4.24%
AH Futures Down
AH Asian Markets Mixed
AH Oil & Gold UP
About market, Dow made another closing all time high, while Nasdaq and S&P 500 took a well deserved rest. TAPE is in the process of digesting gains and may need few more days of down to sideways action. Internals were negative after a long time which is a good thing. Overbought conditions are being dealt with, RSI in 50+++ will be healthy. Individual story stocks are behaving better than rest. It may be a good time to create a buy list on any pullback, i have mine ready.
BLOG does NOT give buy or sell.
Saleem
Tuesday, July 19, 2016
Indices down .02% to .47%......
Indices are slightly lower on overbought conditions and lower oil, despite strong earnings from GS & Johnson and Johnson.
S&P 500 @ 2160.68, low 2159.01, high 2164.63
Internals are negative by almost 2 to 1
Oil Down 49 cents
Gold UP $4.40
Canadian $ Down 86 tick @ .6971
VIX UP 1.85% @ 12.67
Portfolio CNQ CMG NXPI JCP SBUX UA VRX
Most stocks are down
@ 2.15 following are green :
CMG UA AMZN FB V YHOO EXPE YUM FFIV GOOG
WB PANW LRCX MCD CRUS MA DATA .....
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2160.68, low 2159.01, high 2164.63
Internals are negative by almost 2 to 1
Oil Down 49 cents
Gold UP $4.40
Canadian $ Down 86 tick @ .6971
VIX UP 1.85% @ 12.67
Portfolio CNQ CMG NXPI JCP SBUX UA VRX
Most stocks are down
@ 2.15 following are green :
CMG UA AMZN FB V YHOO EXPE YUM FFIV GOOG
WB PANW LRCX MCD CRUS MA DATA .....
BLOG does NOT give buy or sell.
Saleem
Monday, July 18, 2016
Indices closed UP .09% to .52%....NICE !!!!
Indices closed UP.
S&P 500 @ 2166.89, high 2168.35, low 2159.63
RSI @ 66.07
CMF @ 0.178
Internals were :
UP volume led by 2.31 to 1 in NYSE & 2.18 to 1 in Nasdaq
Advancing stocks led by 1.72 to 1 in NYSE & 1.25 to 1 in Nasdaq
Net new 52 wk highs were leading by 199 in NYSE & 125 in Nasdaq
VIX Down 1.82% @ 12.44
Oil @ $45.24
Gold @ $1329.30
Stocks which were UP 2% or more included NXPI JCP VRX
COH SPWR QRVO FB KGC NTES TWTR TSLA CHK
TK WB VDSI WYNN MLNX......
AH ER...VMW UP 9%, NFLX Down 13.19%
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE continues to make new all time highs in S&P 500 and Dow, Nasdaq keeps going towards old highs. Internals remained positive. VIX is flashing warning sign and RSI is getting close to overbought 70 reading, a good move is to book profit, which i did today and added NXPI whose RSI was below 50 upon purchase. No matter how you position, it is all about making money.
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2166.89, high 2168.35, low 2159.63
RSI @ 66.07
CMF @ 0.178
Internals were :
UP volume led by 2.31 to 1 in NYSE & 2.18 to 1 in Nasdaq
Advancing stocks led by 1.72 to 1 in NYSE & 1.25 to 1 in Nasdaq
Net new 52 wk highs were leading by 199 in NYSE & 125 in Nasdaq
VIX Down 1.82% @ 12.44
Oil @ $45.24
Gold @ $1329.30
Stocks which were UP 2% or more included NXPI JCP VRX
COH SPWR QRVO FB KGC NTES TWTR TSLA CHK
TK WB VDSI WYNN MLNX......
AH ER...VMW UP 9%, NFLX Down 13.19%
AH Futures Mixed
AH Asian Markets Mixed
AH Oil & Gold Down
About market, TAPE continues to make new all time highs in S&P 500 and Dow, Nasdaq keeps going towards old highs. Internals remained positive. VIX is flashing warning sign and RSI is getting close to overbought 70 reading, a good move is to book profit, which i did today and added NXPI whose RSI was below 50 upon purchase. No matter how you position, it is all about making money.
BLOG does NOT give buy or sell.
Saleem
Indices UP .07% to .57%...NICE !!!!
Indices are higher despite lower oil but better BAC earning and merger of ARMH by Softbank which brought indices to its high of the day.
S&P 500 @ 2166.43, high 2167.87, low 2159.63
Internals are positive by 1.5 in NYSE & Nasdaq
Oil Down 69 cents
Gold UP $2.20
Canadian $ Down 3 tick @ .7035
VIX Down 1.42% @ 12.49
In my portfolio :
Sold NTES @ $198.29
Sold TWTR @ $18.55
Added 400% NXPI @ $81.08
Portfolio CNQ CMG NXPI JCP SBUX UA VRX
Most stocks are UP
@ 2.05 following are red :
SBUX LNG LULU SINA SU YUM FFIV SSYS
AEM......
BLOG does NOT give buy or sell.
Saleem
S&P 500 @ 2166.43, high 2167.87, low 2159.63
Internals are positive by 1.5 in NYSE & Nasdaq
Oil Down 69 cents
Gold UP $2.20
Canadian $ Down 3 tick @ .7035
VIX Down 1.42% @ 12.49
In my portfolio :
Sold NTES @ $198.29
Sold TWTR @ $18.55
Added 400% NXPI @ $81.08
Portfolio CNQ CMG NXPI JCP SBUX UA VRX
Most stocks are UP
@ 2.05 following are red :
SBUX LNG LULU SINA SU YUM FFIV SSYS
AEM......
BLOG does NOT give buy or sell.
Saleem
Sunday, July 17, 2016
Are we topping out......?
Indices has been on a tear since end of June, after breaking support we rallied hard and made new all time highs in S&P 500 & Dow.
Let us look @ RSI to see where we may be heading next :
Dow RSI 67.33
S&P 500 RSI 65.12
RUT RSI 63.82
Nasdaq RSI 62.66
As we know that Russell and Nasdaq has not made new all time high, which is a concern, here is the number to get to in those indices :
Nasdaq all time high 5231.94......4.02% away
Russell all time high 1296.00......7.52% away
Dow has some room in RSI and can go to 72 area, but may do a quick reversal.....
S&P 500 also has similar room to 70 area and may do quick reversal from there...
RUT & Nasdaq can also go to 70 RSI ..but those can reach serious overbought condition.....
BUT..the good news is that...it is a stock picker market and many stocks are behaving very well and wants to go much higher.......
ALSO...this is NOT a trading market but an " investment strategy " is the way to go......
This TAPE has the feel of a sustained bull market, which may surprise everyone by making series of new highs....
As Nasdaq has not made a new high yet, it gives us hope that it will make series of new highs first, followed by Russell few weeks further......
In conclusion, it is good to be exposed with maximum exposure, which has worked since February lows with some correction along the way.
On Friday before close, i bought NXPI @ $79.76.
Here is my weighting :
NTES 20.20%
CMG 16.76%
CNQ 15.89%
UA 12.65%
TWTR 12.47%
SBUX 7.13%
VRX 6.31%
JCP 5.84%
NXPI 2.75%
Sincere appreciation to stocktrader_1996 for doing closing recap for two weeks, i appreciated that plus all the BLOG visitors.
BLOG does NOT give buy or sell.
Saleem
Let us look @ RSI to see where we may be heading next :
Dow RSI 67.33
S&P 500 RSI 65.12
RUT RSI 63.82
Nasdaq RSI 62.66
As we know that Russell and Nasdaq has not made new all time high, which is a concern, here is the number to get to in those indices :
Nasdaq all time high 5231.94......4.02% away
Russell all time high 1296.00......7.52% away
Dow has some room in RSI and can go to 72 area, but may do a quick reversal.....
S&P 500 also has similar room to 70 area and may do quick reversal from there...
RUT & Nasdaq can also go to 70 RSI ..but those can reach serious overbought condition.....
BUT..the good news is that...it is a stock picker market and many stocks are behaving very well and wants to go much higher.......
ALSO...this is NOT a trading market but an " investment strategy " is the way to go......
This TAPE has the feel of a sustained bull market, which may surprise everyone by making series of new highs....
As Nasdaq has not made a new high yet, it gives us hope that it will make series of new highs first, followed by Russell few weeks further......
In conclusion, it is good to be exposed with maximum exposure, which has worked since February lows with some correction along the way.
On Friday before close, i bought NXPI @ $79.76.
Here is my weighting :
NTES 20.20%
CMG 16.76%
CNQ 15.89%
UA 12.65%
TWTR 12.47%
SBUX 7.13%
VRX 6.31%
JCP 5.84%
NXPI 2.75%
Sincere appreciation to stocktrader_1996 for doing closing recap for two weeks, i appreciated that plus all the BLOG visitors.
BLOG does NOT give buy or sell.
Saleem
Sunday, July 3, 2016
S&P 500 may hit new all time high this week....
Brexit is in rear view mirror and TAPE is poised to hit all time highs, here are the numbers for making new highs :
S&P 500 31.78 points or 1.49%
Dow 402.00 points or 2.19%
Nasdaq 369.38 points or 7.06%
Based on a 4 day week, it appears S&P 500 is all set to march into record books....
Dow could make into record books also...
Nasdaq may need another 3 weeks to cross 5231.94......
TAPE was extremely strong and impressive last week by moving UP a fast 3% in most indices.
Most sectors were participating in last week snapback.
A diversified portfolio is the-best bet going forward.
Strong stocks needs to be overweight, as technical health should provide superior result.
July may become the month of series of new highs in all indices.....
Market is looking very strong as all central banks are in wait and see mode post Brexit.
Increasing your exposure in this environment can be profitable.
I am leaving on a 2 week vacation with my family in US starting early Monday, i am unable to write my BLOG for 2 weeks, will be back with Sunday July the 17th BLOG around 2 PM.
I am hoping that stocktrader_1996 will be able to give a closing report in comment section for 9 trading days, plus his trades as they happen. His experience in market is highly valued by me and other BLOG readers.
BLOG does NOT give buy or sell.
Saleem
S&P 500 31.78 points or 1.49%
Dow 402.00 points or 2.19%
Nasdaq 369.38 points or 7.06%
Based on a 4 day week, it appears S&P 500 is all set to march into record books....
Dow could make into record books also...
Nasdaq may need another 3 weeks to cross 5231.94......
TAPE was extremely strong and impressive last week by moving UP a fast 3% in most indices.
Most sectors were participating in last week snapback.
A diversified portfolio is the-best bet going forward.
Strong stocks needs to be overweight, as technical health should provide superior result.
July may become the month of series of new highs in all indices.....
Market is looking very strong as all central banks are in wait and see mode post Brexit.
Increasing your exposure in this environment can be profitable.
I am leaving on a 2 week vacation with my family in US starting early Monday, i am unable to write my BLOG for 2 weeks, will be back with Sunday July the 17th BLOG around 2 PM.
I am hoping that stocktrader_1996 will be able to give a closing report in comment section for 9 trading days, plus his trades as they happen. His experience in market is highly valued by me and other BLOG readers.
BLOG does NOT give buy or sell.
Saleem
Friday, July 1, 2016
Indices closed UP .11% to .41%...NICE !!!!
Indices closed UP on Higher oil and lower US$ plus better than expected manufacturing in US.
S&P 500 @ 2102.95, high 2108.71, low 2097.90
RSI @ 55.50
CMF @ 0.041
Internals were :
UP volume led by 2.07 to 1 in NYSE & 1.57 to 1 in Nasdaq
Advancing stocks led by 1.76 to 1 in NYSE & 1.67 to 1 in Nasdaq
Net new 52 wk highs were leading by 420 in NYSE & 118 in Nasdaq
VIX Down 5.50% @ 14.77
Oil @ $48.99
Gold @ $1399.00
Canadian $ @ .7085
Stocks which were UP 1% or more included TWTR VRX
LNG GOOG PCLN AMZN EGO GG KGC ABX SU
JKS NFLX TSLA YHOO DNKN EXPE EBAY
CHK SWN RIG AAL TCK SLW AEM
CSOD FCX WYNN......
In my portfolio :
Added 25% NTES @ $185.26
Here is my weighting :
NTES 20.35%
CMG 17.35%
CNQ 16.37%
UA 13.08%
TWTR 12.70%
SBUX 7.54%
JCP 6.57%
VRX 6.01%
Next post by 2 PM on Sunday
BLOG does NOT give buy or sell.
Enjoy long weekend !
Saleem
S&P 500 @ 2102.95, high 2108.71, low 2097.90
RSI @ 55.50
CMF @ 0.041
Internals were :
UP volume led by 2.07 to 1 in NYSE & 1.57 to 1 in Nasdaq
Advancing stocks led by 1.76 to 1 in NYSE & 1.67 to 1 in Nasdaq
Net new 52 wk highs were leading by 420 in NYSE & 118 in Nasdaq
VIX Down 5.50% @ 14.77
Oil @ $48.99
Gold @ $1399.00
Canadian $ @ .7085
Stocks which were UP 1% or more included TWTR VRX
LNG GOOG PCLN AMZN EGO GG KGC ABX SU
JKS NFLX TSLA YHOO DNKN EXPE EBAY
CHK SWN RIG AAL TCK SLW AEM
CSOD FCX WYNN......
In my portfolio :
Added 25% NTES @ $185.26
Here is my weighting :
NTES 20.35%
CMG 17.35%
CNQ 16.37%
UA 13.08%
TWTR 12.70%
SBUX 7.54%
JCP 6.57%
VRX 6.01%
Next post by 2 PM on Sunday
BLOG does NOT give buy or sell.
Enjoy long weekend !
Saleem
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