US stock market going UP.....

 US stock market is in a very strong position currently.

Job growth was better than expected.....

DELTA variant has scared enough non compliant that vaccination is in focus, thus a solution may be on the way.

China is cracking down on major companies and on gaming addiction, this will reroute money in relatively safer from regulations / crackdown in US companies

Most countries are doing smart lockdown to deal with Delta variant means act fast and shut down only areas impacted

US stock markets are not overbought, many are non- believers in this rally and waiting for correction / pullback

DOW, S&P 500 NASDAQ & SOX are @ or near all time high but are showing reasonable RSI numbers, DOW is actually showing 57.56 RSI @ new all time high...never heard of this kind of disbelief by traders / investors......

Highest RSI is @ 62.43 in SOX which is near all time high......

Most undervalued from RSI point of view is SLV @ 32.91 silver is an industrial metal used in many products.....

Surprisingly XLE RSI is 46.06, energy stocks has been trashed lately along with slight downward pressure in Oil....which can reverse to new 6 years high in a hurry.....

JETS RSI @ 46.57 is attractive as bookings are near pre 2019 level for September....a prediction which may become reality in days....

Markets will do what it wants to do, you have to buy stocks before it rockets UP, a wise & productive trading / investing strategy.

US stock market profile is changing fast, one needs to position accordingly.....

There was a time to be " all in technology "...currently may not be a very productive approach...

Technology needs to be underweight in your portfolio.....

Restart  of economy stocks needs to be overweight.....

A little patience & conviction is a good trading / investing strategy.......

Please evaluate your exposure and make a very quick adjustment to reflect US & world economy are eager to open everything up with social distancing.

Good luck with your own strategy & comfort level.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed.....

 Indices closed mixed with Nasdaq down and DOW plus S&P 500 higher and @ new all time closing high. Jobs report was almost 100,000 higher than expected. 10 year yield ticked up despite that technology stocks behaved much better than expected.

S&P 500 @ 4436.52, high 4440.82, low 4429.07

RSI @ 62.15

CMF @ 0.169

Internals were :

UP volume led by 1.65 to 1 in NYSE & 1.19 to 1 in Nasdaq

Advancing stocks led by 1.33 to 1 in NYSE & 1.06 to 1 in Nasdaq

Net new 52 wk highs were leading by 206 in NYSE & 80 in Nasdaq

VIX Down 6.54% @ 16.15

Oil @ $68.28

Gold @ $1763.10

Canadian $ @ .7432

Stocks which were UP 2% or more included HST NCLH RIOT

HOOD SOL X CNQ CCL MGNI SCHW FCX CLF MSTR

DKNG UBER SEDG KRA JWN YELP.....

Here is my portfolio weighting :

HST        26.14%

CNX       22.46%

UAL       12.85%

XPEV       8.65%

WEED     7.50%

MGM      7.16%

NCLH     6.72%

RIOT      5.24%

PLTR     3.28%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .60% to .78%...NICE!!!!

 Indices closed UP.

S&P 500 @ 4429.10, high 4429.76, low 4408.86

RSI @ 61.22

CMF @ 0.197

Internals were :

UP volume led by 2.50 to 1 in NYSE & 2.54 to 1 in Nasdaq

Advancing stocks led by 2.06 to 1 in NYSE & 2.23 to 1 in Nasdaq

Net new 52 wk highs were leading by 194 in NYSE & 72 in Nasdaq

VIX Down 3.84% @ 17.28

Oil @ $69.09

Gold @ $1808.90

Canadian $ @ .7509

Portfolio CNX HST MGM WEED XPEV NCLH PLTR RIOT UAL

Stocks which were UP 4% or more included

HST MGM WEED NCLH UAL

BB SQ LSPD ACB COIN M

BYD JBLU SAVE AAL DAL

TRIP RCL CCL FUBO MSTR

LYFT ZI ESTC DDOG EXPE

DDD JWN WYNN LVS OSTK...

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE closed @ high of the day with S&P 500 @ new all time high. Most restart stocks participated in a big way along with stay home with good earnings. Internals were strong. Its all about jobs report @ 830 AM 85000 job growth expected which should be an  easy target.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 4402.66, low 4400.23, high 4416.17

RSI @ 57.81

CMF @ 0.178

Internals were :

Down volume led by 3.95 to 1 in NYSE & 1.13 to 1 in Nasdaq

Declining stocks led by 2.03 to 1 in NYSE & 1.84 to 1 in Nasdaq

Net new 52 wk highs were leading by 189 in NYSE & 20 in Nasdaq

VIX Down .39% @ 17.97

Oil @ $68.15

Gold @ $1814.50

Canadian $ @ .7447

Portfolio CNX HST MGM WEED XPEV NCLH PLTR RIOT UAL

Stocks which closed green included MGM RIOT XPEV

HOOD MU NIO LULU CRM LSPD COIN NVTA 

SNAP MSTR AMD GAN PANW NXPI DOCU

ZI SHOP ZM CRWD ESTC ENPH JD NVAX

MRNA NVDA TWLO FB LRCX BABA

NFLX OLED.....

AH Futures UP

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE closed mixed with Nasdaq closing near high of the day while DOW & S&P 500 closed red and near low of the day. Internals were negative. Stay home & technology stocks did well. After hour earnings report reaction was negative.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .55% to .82%...NICE !!!!

Indices closed UP.

S&P 500 @ 4423.15, high 4423.79, low 4373.00

RSI @ 61.72

CMF @ 0.255

Internals were :

UP volume led by 2.06 to 1 in NYSE & 1.29 to 1 in Nasdaq

Advancing stocks led by 1.60 to 1 in NYSE & .95 to 1 in Nasdaq

Net new 52 wk highs were leading by 190 in NYSE & 10 in Nasdaq

VIX Down 7.30% @ 18.04

Oil @ $70.56

Gold @ $1814.10

Canadian $ @ .7447

Portfolio CNX HST MGM WEED XPEV NCLH PLTR RIOT UAL

Stocks which were UP 1% or more included CNX UAL

HOOD AFRM MU SU LULU GE APA MX M FSLR

QRVO CNQ CLF PINS RUN AMD SNOW CSIQ

ZI KL DDOG ENPH SEDG MRNA NKE BA 

ASML AMZN FFIV LNG ORCL ULTA CMG...

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE opened lower but closed @ high of the day. Most sectors participated. Internals were mixed. AH earnings were better than expected which should help on open. Many stocks are over extended thus booking profit may be a very good idea.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed...

 Indices closed mixed.

S&P 500 @ 4387.16, low 4384.81, high 4422.18

RSI @ 56.97

CMF @ 0.224

Internals were :

UP volume led by .71 to 1 in NYSE & 1.76 to 1 in Nasdaq

Advancing stocks led by .94 to 1 in NYSE & 1.05 to 1 in Nasdaq

Net new 52 wk highs were leading by 260 in NYSE & 85 in Nasdaq

VIX UP 6.69% @ 19.46

Oil @ $71.26

Gold @ $1822.20

Canadian $ @ .7531

Portfolio CNX HST MGM WEED XPEV NCLH PLTR RIOT UAL

Stocks which were UP 1% or more included PLTR RIOT XPEV

HOOD AFRM NIO SQ LSPD BYD NVTA FSLR QRVO SWKS

MSTR DASH RIDE BIDU AMD DKNG LYFT NXPI ZI SHOP

DHI BZUN TSLA AMAT BABA JWN JKS....

AH Futures UP

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE celebrated progress in Infrastructure bill with green open but then faded by close, Indices closed near low of the day. Internals were mixed. Only Nasdaq closed in green. Fed voting member comments about taper brought the market lower.

BLOG does NOT give buy or sell.

Saleem

US stock market going forward......

 US stock market is facing many challenges in near term.....

DELTA variant is raging all over the world including China...

WHO is very concerned about Chinese Delta variant....

Earnings are either peaked or are already priced in.....

Stay @ home or reopening trades have been played out with mixed results...

Vaccination is picking up again due to fear of being infected and dying...

New restrictions are being placed all over again, even CDC is retracting many guidance..

There is a serious bottleneck in " supply chain "

Chip shortages remains a serious issue and impacting many many products from Cars to Industrial equipment.....anything digital is feeling the pinch....

Direction of short term interest rates will remain a hot topic...

Labor shortage is a " new twist " as most employees do not want to be stuck in traffic for hours and waste their precious time anymore....online has given most an easy answer to previous lifestyle....

Wages are going UP and bonus are in vogue BUT few takers...

Many of these will result in higher cost and will impact earnings.....

Inflation is spiking UP worldwide from Gasoline to raw cost...

All of the above was very evident in many conference calls thus guidance has been not so hot generally speaking.....

SO...what is the answer for Investors, Traders and Day traders.....

All need a rethink based on the above....

Investors need to go with ETF in new ideas which is not impacted by current challenges or minimum impact.....

Traders / Swing traders need to understand rotation which is happening on a daily basis.....

Day traders go with TAPE....buy whatever is moving UP or DOWN based on long / short approach

Those who are unsure as to what type of trader / Investor they are, they must learn to refocus on due diligence which includes Fundamental Analysis and Technical Analysis. They must show patience and conviction in a broad based portfolio...lately I am falling into this category.....

Markets generally looks 6 months ahead, It sees many things manageable .....

YES...there may be violent reaction in market based on Delta variant / Inflation / direction of short term Interest rates from time to time....

Every market goes through pullbacks / correction and this market is NO EXCEPTION.....

BUT it IS IMPOSSIBLE to predict market movement in entirety, so no need to be a non expert...many pundits try everyday only to be embarrassed .....

Stay in the market with all the known risk.

Good luck with your own conclusion and comfort level.

BLOG does NOT give buy or sell.

Saleem