Indices closed down .48% to .91%...

 Indices closed down on option expiry day. Internals were negative. S&P 500 closed below 50 DMA.

S&P 500 @ 4432.99, low 4427.76, high 4471.52

RSI @ 43.57

CMF @ -0.084

Internals were :

Down volume led by 2.12 to 1 in NYSE & 1.09 to 1 in Nasdaq

Declining stocks led by 1.97 to 1 in NYSE & 1.00 to 1 in Nasdaq

Net new 52 wk highs were leading by 45 in NYSE & 9 in Nasdaq

VIX UP 11.34% @ 20.81

Oil @ $71.97

Gold @ $1751.40

Canadian $ .7258

Stocks which were UP 1% or more included LSPD NCLH XPEV

HOOD SOL NIO AG NVTA RCL SNAP LAC CCL FUBO

BIDU RUN SPWR TOL ZM KBH ENPH SEDG BYND

TWLO BABA EXPE QS JKS LVS OSTK.....

Here is my portfolio weighting :

HST      24.34%

CNX     23.79%

UAL     11.11%

WEED   8.94%

XPEV    7.57%

MGM    6.90%

LSPD    6.90%

NCLH   6.38%

RIOT    4.07%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 4473.75, low 4443.80, high 4485.87

RSI @ 50.91

CMF @ 0.017

Internals were :

UP volume led by .58 to 1 in NYSE & 1.31 to 1 in Nasdaq

Advancing stocks led by .78 to 1 in NYSE & 1.05 to 1 in Nasdaq

Net new 52 wk high were leading by 64 in NYSE & lows by 2 in Nasdaq

VIX UP 2.81% @ 18.69

Oil @ $72.62

Gold @ $1756.70

Canadian $ @ .7316

In my portfolio added 15% CNX @ $12.11

Portfolio CNX HST MGM WEED LSPD NCLH RIOT UAL XPEV

Stocks which were UP 1% or more included MGM LSPD UAL

PLTR AFRM LULU SQ CRM M VUZI BYD JBLU ROKU

MRVL SWKS AAL FUBO DASH RUN GAN ESTC UBER

DDOG KBH DHI PHM AMAT OLED DDD QS JWN 

ULTA CMG PANW.....

AH Futures Down

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, TAPE was green in pre market with retail sales better than expected but then bears took full control and everything was red, by close only Nasdaq was slightly green. Market seems to be marking time to digest gains and may find catalyst to move higher or sheer selling exhaustion.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .68% to .85%....NICE !!!

 Indices closed UP.

S&P 500 @ 4480.70, high 4486.87, low 4438.37

RSI @ 52.30

CMF @ -0.051

Internals were :

UP volume led by 2.59 to 1 in NYSE & 1.71 to 1 in Nasdaq

Advancing stocks led by 2.15 to 1 in NYSE & 1.71 to 1 in Nasdaq

Net new 52 wk high were leading by 80 in NYSE & lows by 25 in Nasdaq

VIX Down 6.58% @ 18.18

Oil @ $72.61

Gold @ $1794.80

Canadian $ @ .7343

In my portfolio Sold PLTR @ $27.00

Portfolio CNX HST MGM WEED LSPD NCLH RIOT UAL XPEV

Stocks which were UP 2% or more included CNX LSPD RIOT PLTR

HOOD SU TECK APA ACB X BMBL TWTR CNQ LAC SCHW

FCX CLF MSTR DASH DADA DOCU TOL CVX FFIV SNAP

OXY SLB LNG NTNX JKS TLRY.....

AH Futures UP

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, TAPE was strong whole day and closed near high of the day. Internals were mostly positive. Oil & Energy stocks continued their strength with Nat gas @ 7 year high. Metals & copper, nickel stocks were strong also. The question IS, can we get 2 days in a row in same direction mostly positive....may be this time.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .45% to .84%.....

 Indices closed down.

S&P 500 @ 4443.05, low 4435.46, high 4485.68

RSI @ 44.68

CMF @ -0.074

Internals were :

Down volume led by 3.44 to 1 in NYSE & 2.26 to 1 in Nasdaq

Declining stocks led by 2.25 to 1 in NYSE & 2.39 to 1 in Nasdaq

Net new 52 wk high were leading by 25 in NYSE & lows by 44 in Nasdaq

VIX UP .46% @ 19.46

Oil @ $70.46

Gold @ $1807.10

Canadian $ @ .7331

Portfolio CNX HST MGM WEED LSPD NCLH PLTR RIOT UAL XPEV

Stocks which closed green included LSPD PLTR XPEV

AG TECK PYPL TWTR MGNI AMD MSFT PANW

GOOS ZI CRWD ESTC DDOG MRNA ASML

NVDA TWLO TSLA EXPE....

AH Futures UP

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE was weak despite better inflation news. This market profile has been tough all along never predictable from day to day due to Covid-19 disruptions. Some stocks benefitted earlier but are pulling back. It is a uncertain rotation which is very hard to have a winning strategy. Best one can do is to understand unpredictability of this market. Stay broadly diversified with conviction & patience.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 4468.73, high 4492.99, low 4445.70

RSI @ 49.71

CMF @ 0.010

Internals were :

UP volume led by 2.35 to 1 in NYSE & 1.24 to 1 in Nasdaq

Advancing stocks led by 1.60 to 1 in NYSE & 1.02 to 1 in Nasdaq

Net new 52 wk high were leading by 87 in NYSE & lows by 13 in Nasdaq

VIX Down 7.54% @ 19.37

Oil @ $70.45

Gold @ $1794.40

Canadian $ @ .7355

Portfolio CNX HST MGM WEED LSPD NCLH PLTR RIOT UAL XPEV

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

SU AG GE APA M JBLU SAVE TRIP FSLR RCL PAAS

SWKS CNQ CCL MSTR RIDE RUN SPWR CSIQ

INTC LYFT XI KL DAL EXPE OXY SLB LNG 

JKS LVS OSTK.....

AH Futures UP

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE surprised all the technicians and pundits by staging a solid green @ open, by close only Nasdaq was slightly in red. Internals were mostly positive. Reopen, energy, silver, Solar and many technology stocks participated in today's rally.

BLOG does NOT give buy or sell.

Saleem

US Stock market and September.....

 Technicians and market pundits are predicting " a very bad September to remember "

So far by Friday the 10th September, they are generally right in their conclusion....

Mad Money is also joining in the bandwagon by predicting more pullbacks in coming weeks.....

Coming weeks means whole September should be a complete disaster.....

IF i look @ current RSI of 8 popular sectors / Indices they are only couple of days away from a major support...

I will not be surprised IF we have a " turnaround Tuesday "

DOW is sitting @ lowest RSI of 36.99.....below 30 should get support which could be coming Tuesday @ earliest....

I hate to disagree with " highly paid technicians who have the backing of billions of $ @ their call "

Markets go UP

Markets go DOWN

BUT...we have to be ready with our own strategy which could be:

BUY on weakness

SELL to book profit

STAY PUT with conviction & patience

I am in camp 3....stay put category

Market is in the process of digesting all the issues related to Delta variant and may be " nearly done "

TV & CNBC are rating driven...they go with the trend of yesterday to optimize ratings...

Best performing so far is SOX with RSI of 57.31 20 plus points higher than DOW...a good sign of "reversal coming your way "

Nasdaq @ 54.86 RSI is also showing sign of relative strength so far.....

SOX & Nasdaq being strong is a good sign that technology is alive & well...

SO.....September is just a month where bargains / strong stocks are a bit cheaper...nothing more nothing less.

Stay calm and buy when selling seems intense.....

Good luck with your own analysis & comfort level.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .77% to .87%.....

 Indices closed down on inflation fear & Delta variant impact. Indices closed @ low of the day.

S&P 500 @ 4458.58, low 4457.66, high 4520.47

RSI @ 47.54

CMF @ 0.050

Internals were :

Declining volume led by 2.83 to 1 in NYSE & 1.25 to 1 in Nasdaq

Declining stocks led by 1.83 to 1 in NYSE & 1.88 to 1 in Nasdaq

Net new 52 wk highs were leading by 115 in NYSE & 32 in Nasdaq

VIX UP 11.44% @ 20.95

Oil @ $69.72

Gold @ $1792.10

Canadian $ @ .7361

Stocks which closed green included LSPD PLTR

AFRM MU LULU CCJ TECK X TSM BMBL

FSLR QCOM QRVO LAC FUBO FCX DASH

BIDU RUN INTC PANW NXPI GOOS MTCH

ZM UPS ELF TER ASML NVDA LRCX AMAT...

Here is my portfolio weighting :

HST       23.93%

CNX      20.56%

UAL      11.06%

WEED    9.18%

XPEV     7.48%

MGM     7.03%

LSPD     6.88%

NCLH    6.13%

RIOT     4.10%

PLTR    3.65%

Next post by 6 PM on Sunday

BLOG does NOT give buy or sell.

Saleem