US stock market needs a catalyst......

 US stock market is facing many issues....

Fed is working on tapering schedule, a negative for US stock market.

Delta variant is playing havoc with new infections all over the world....

Boris Johnson British Prime Minister is most high profile who may be exposed again and is in self isolation

Chinese US tit for tat diplomacy is hurting also

Chip shortage has no real solution yet

Car production is impacted and not recovering from chip shortage

World economies is facing major resistance to working from office instead of online and from home only

Labor shortage has pegged US wages @ minimum $15 per hour already and going higher

INFLATION is playing havoc with world economies, most items are higher priced in groceries.

Oil in $71.81 is adding to cost of everything

All of the above has no solution as of now.....

Stock market hates uncertainty......

Earnings being managed by few companies only....others are using chips, inflation as key reasons to so so guidance.

Delta variant is not ready to peak....thus uncertainty continues....

All I can suggest is to reduce your exposure or to switch to low RSI low PE stocks to mark time

I do not see much changing until we correct more from here

October may be the best time to refocus and go for growth wherever It may be.

SO...stay well diversified so you are protected from sharp pullback in any one sector.....

Every sector currently is extremely vulnerable to a quick 10% downdraft....

Good luck with your own analysis and comfort level.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .75% to .86%.....

 Indices closed near low of the day in a broad based selling affecting all sectors. Internals braved this selling by turning positive for the first time in days. Delta is taking a toll on traders sentiment as numbers are escalating all over the world.

S&P 500 @ 4327.16, low 4322.52, high 4375.09

RSI @ 55.28

CMF @ 0.184

Internals were :

UP volume led by 1.18 to 1 in NYSE & 1.24 to 1 in Nasdaq

Advancing stocks led by 1.43 to 1 in NYSE & 1.10 to 1 in Nasdaq

Net new 52 wk highs were leading by 296 in NYSE & 124 in Nasdaq

VIX UP 8.47% @ 18.45

Oil @ $71.81

Gold @ $1815.00

Canadian $ .7409

Stocks which were UP 1% or more included XPEV

SQ NVTA FUBO DOCU PLAN ZM DDOG 

NVAX MRNA TWLO ORCL.....

Here is my portfolio weighting :

HST      27.24%

CNX     24.96%

UAL     13.07%

XPEV    8.62%

WEED   8.05%

MGM    7.18%

NCLH   6.57%

RIOT    4.31%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 4360.03, low 4340.70, high 4369.02

RSI @ 62.65

CMF @ 0.248

Internals were :

Down volume led by 1.60 to 1 in NYSE & 1.19 to 1 in Nasdaq

Declining stocks led by 1.65 to 1 in NYSE & 1.59 to 1 in Nasdaq

Net new 52 wk high were leading by 70 in NYSE & low by 136 in Nasdaq

VIX UP 4.16% @ 17.01

Oil @ $71.65

Gold @ $1829.00

Canadian $ @ .7417

Portfolio CNX HST MGM WEED XPEV NCLH RIOT UAL

Stocks which were UP 1% or more included XPEV

NIO SOL BMBL AI RIDE BIDU NKLA DAL 

PDD JD BABA MRNA IQ MOMO WB YY

QS JKS V PANW....

AH Futures Down

AH Asian Markets Down

AH Oil & Gold UP

About market, TAPE was under selling pressure from pre market to close. Fed Chief testimony brought forward  new consideration of tapering shortly, a news die hard bulls could not stomach. Internals are negative again. None of the earnings report are creating any excitement except AAPL managing of news about its production which gave another boost to share price initially. Friday may not give bullish close.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 4374.30, high 4393.68, low 4362.36

RSI @ 66.21

CMF @ 0.222

Internals were :

Down volume led by 1.47 to 1 in NYSE & 1.78 to 1 in Nasdaq

Declining stocks led by 1.32 to 1 in NYSE & 2.11 to 1 in Nasdaq

Net new 52 wk high were leading by 128 in NYSE lows by 29 in Nasdaq

VIX Down 4.61% @ 16.33

Oil @ $73.13

Gold @ $1825.00

Canadian $ @ .7473

Portfolio CNX HST MGM WEED XPEV NCLH RIOT UAL

Stocks which were UP 1% or more included LULU AAPL QCOM

PAAS SWKS AAL KL KBH ELF MRNA ASML FFIV NFLX MA

V ORCL......

AH Futures Mixed

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, TAPE started in green then went to red back to green then closed mixed. S&P 500 made a new Intraday high. Internals were negative which is not a good technical indicator, we may have a sharp down day anytime as Financials failed to ignite any enthusiasm. Stay with caution until Internals improve.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .31% to .38%....

 Indices closed down.

S&P 500 @ 4369.21, low 4366.92, high 4392.37

RSI @ 65.56

CMF @ 0.230

Internals were :

Down volume led by 3.09 to 1 in NYSE & 1.07 to 1 in Nasdaq

Declining stocks led by 2.84 to 1 in NYSE & 3.07 to 1 in Nasdaq

Net new 52 wk highs were leading by 199 in NYSE & 53 in Nasdaq

VIX UP 5.88% @ 17.12

Oil @ $75.25

Gold @ $1809.90

Canadian $ @ .7487

Portfolio CNX HST MGM WEED XPEV NCLH RIOT UAL 

Stocks which closed green included LULU CRM TSM

AAPL PAAS BIDU GOLD MSFT AUY PLAN SHOP

KL MTCH ESTC PDD JD HUYA MOMO WB BZUN

AEM BABA GOOG NFLX YY MA MS OSTK V...

AH Futures Mixed

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE closed down as inflation came in much hotter than consensus. Yield ticked up slightly. VIX moved UP slightly. Internals were mostly negative. This was a pretty mild reaction to a bad CPI data which was hotter in 13 years. Hopefully we close positive despite testimony by Fed chief.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .21% to .36%....NICE !!!!

 Indices closed UP.

S&P 500 @ 4384.63, high 4386.68, low 4364.03

RSI @ 69.29

CMF @ 0.307

Internals were :

UP volume led by 1.18 to 1 in NYSE & 1.24 to 1 in Nasdaq

Advancing stocks led by 1.43 to 1 in NYSE & 1.10 to 1 in Nasdaq

Net new 52 wk highs were leading by 298 in NYSE & 124 in Nasdaq

VIX Down 0.06% @ 16.17

Oil @ $74.10

Gold @ $1805.90

Canadian $ @ .7540

Portfolio CNX HST MGM WEED XPEV NCLH RIOT UAL

Stocks which were UP 1% or more included MU SOL ACB 

M X BYD FSLR CSIQ JKS SPWR SEDG ENPH TWTR

SCHW CLF RUN INTC NXPI EAT KRA MRNA TER

ASML NVDA TSLA LRCX AMAT NIO MS CMG...

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE closed near high of the day and made all time closing high in DOW, S&P 500 & Nasdaq. Internals were positive. Rotation is back to stay home stocks thanks to Delta variant of COVID-19. Market is healthy and strong.

BLOG does NOT give buy or sell.

Saleem

US stock market going higher.....

 After 4 days of extremely poor internals, US stock market came to life on Friday and jumped to new all time high in 3 major Indices @ the same time, quite uncommon.

Above TAPE action is a clear indication that 4 day of weak internals is all we needed to shake off negativity.

Friday's TAPE was significant as all sector participated and internals were strong, a technical confirmation that " all is well "

Banks earnings are on tap this week, this may be an inflection point for financials also. buy better performing financial...GS & MS may jump higher with their earnings.

Despite Delta spreading worldwide and new shutdown in Australia, most Europe & world is opening UP their economies full blast.....more positive vs minor negative.

Delta will force non believers in COVID-19 vaccine to get religion.....thus a negative may have positive outcome.

Q2 earnings may prove to be the-low point thus buying strong Q3 earnings projection should be bought aggressively.

TAPE has discounted many bad earnings report and may look to guidance as trend.....

Many sectors are undervalued and are trading near recent lows Airlines, Cruise lines, crypto stocks all are looking like a bargain.

YES try to underweight high RSI stocks as they need rest / digestive phase or upside may be limited near term.

SO....focus on lower RSI stocks in all sectors based on your own comfort level. Gains could be well above average.

Try some aggressive ETF also like famous ARKK for quick gains......who said tagging along genius is a bad thing...

All in all, we are looking @ very good setup technically speaking, gains could be fast and much higher than normal in near term.

Good luck with your own take of this market and your own comfort level.

BLOG does NOT give buy or sell.

Saleem