Indices closed UP 1.17% to 2.48%....NICE !!!!

 Indices closed UP.

S&P 500 @ 3960.28, high 3964.46, low 3864.11

RSI @ 48.00

CMF @ -0.004

Internals were :

UP volume led by 3.05 to 1 in NYSE & 2.86 to 1 in Nasdaq

Advancing stocks led by 2.80 to 1 in NYSE & 1.95 to 1 in Nasdaq

Net new lows were leading by 180 in NYSE & 232 in Nasdaq

VIX Down 12.05% @ 22.99

Oil @ $68.35

Gold @ $1923.00

Canadian $ @ .6233

Portfolio ARKK AI SHOP

Stocks which closed UP 3% or more included ARKK AI

COIN TTD GOOS MRVL RBLX PDD RIOT AMAT

MU TSM ROKU RCL QCOM QRVO SWKS MSTR

DASH BIDU PINS AMD INTC MSFT PANW LYFT

PENN DOCU ZI CRWD TER NVDA META LRCX

AMZN GOOG OLED SNAP OXY....

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE closed @ high of the day despite ongoing banking woes. Almost $250 billion was borrowed by banks from Fed window vs $4 Billion previous week, a sure sign of funding shortfall in US banks. Most sector participated in Today's rally which Is very encouraging. Banking issues may have been discounted by market. Nasdaq remained strongest by a factor of 2.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 3891.93, low 3838.34, high 3894.26

RSI @ 40.29

CMF @ -0.029

Internals were :

Down volume led by 3.40 to 1 in NYSE & 1.44 to 1 in Nasdaq

Declining stocks led by 3.34 to 1 in NYSE & 2.37 to 1 in Nasdaq

Net new lows were leading by 331 in NYSE & 401 in Nasdaq

VIX UP 10.16% @ 26.14

Oil @ $67.68

Gold @ $1931.30

Canadian $ @ .6197

In my portfolio added 25% AI @ $20.20

Portfolio ARKK AI SHOP

Stocks which closed green included ARKK

XPEV HOOD COIN PYPL SQ M AAPL ROKU 

BMBL SCHW DASH AMD NVDA PFE INTC

MSFT LYFT NEM AEM DOCU ZI ZM CRWD

ESTC DDOG EAT ELF MCD TWLO META

AMZN GOOG NFLX JWN ULTA....

AH Futures UP

AH Asian Markets Down

AH Oil UP

AH Gold Down

About market, TAPE was under severe distress due to aftermath of effects of inverted yield curve. Credit Suisse Is the latest blowup of faulty and aggressive policies of Central Banks who just follow the herd mentality without looking @ consequences. Fed can forget any hikes after this rude wake up call. All the banks are looking very vulnerable due to high high Interest rates. In this rout only quality Nasdaq seems to be the right place to be.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 1.06% to 2.14%...NICE !!!

 Indices closed UP.

S&P 500 @ 3920.56, high 3937.29, low 3873.63

RSI @ 42.71

CMF @ -0.086

Internals were :

UP volume led by 2.87 to 1 in NYSE & 1.53 to 1 in Nasdaq

Advancing stocks led by 2.60 to 1 in NYSE & 1.83 to 1 in Nasdaq

Net new lows were leading by 109 in NYSE & 181 in Nasdaq

VIX Down 10.52% @ 23.73

Oil @ $71.33

Gold @ $1910.90

Canadian $ @ .6322

Portfolio ARKK AI SHOP

Stocks which were UP 4% or more included SHOP

LSPD COIN TTD RBLX SQ CRM

SCHW DASH PONS AMD NVDA

DOCU MTCH CRWD UBER META

TSLA RIOT....

AH Futures Mixed

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE was green in pre market and got further boost with inline CPI report. Inflation IS very far in Fed mind with all the reset in yield already in market place, low bond yield has given its verdict which decides mortgage interest. Nasdaq had 2 days of gains already in the bag. There was calm even in banking sector with Regional banks showing outsized gains.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 5I00 @ 3855.76, low 3808.86, high 3905.05

RSI @ 34.15

CMF @ -0.082

Internals were :

Down volume led by 2.39 to 1 in NYSE & 1.09 to 1 in Nasdaq

Declining stocks led by 2.31 to 1 in NYSE & 1.62 to 1 in Nasdaq

Net new lows were leading by 402 in NYSE & 592 in Nasdaq

VIX UP 6.94% @ 26.52

Oil @ $74.80

Gold @ $1916.50

Canadian $ @ .6309

Portfolio ARKK AI SHOP

 Stocks which were UP 2% or more included ARKK AI

COIN RUN EXAS RBLX PLTR PDD

SPWR AG PAAS MSTR SNOW GOLD

MSFT NEM AEM ZM ESTC SEDG....

AH Futures UP

AH Asian Markets Down

AH Oil & Gold Down

About market, TAPE was extremely confused today, It was a very conflicting set of stats making round Fed funds futures collapsed from 5%+ to 3%+ a monumental slump. Bonds yield collapsed also mortgage rates crashing down in both US & Canada. Goldman Sachs predicting ZERO hike by Fed in next meeting vs much trumpeted 50 basis and high rates longer, how things change overnight. Moral of the story IS do not believe all the talk make your own calls right or wrong because others are equally wrong or right that DEPENDS.

BLOG does NOT give buy or sell.

Saleem

US stock market, FEAR vs OPPORTUNITY...

 US stock market is going through another panic selling, SVB is the latest casualty in pain driven FED policy of hike hike & hawkish drum rolling.....

Do not be surprised IF Fed takes a somber look @ the destruction they are causing all over....

Fed is known to flip flop when they are proven wrong @ each turn.....

Fed is either too easy or too hawkish, a middle of the road approach is a wiser one...

NOW FEAR IS @ its PEAK......

BE GREEDY when others are PANICKING...

We have gone through these crisis before and It was a great time to accumulate where conviction is high.

YES there will be more CASUALTY just like what is happening in CRYPTOLAND..one blow up after another.....

BUT....this is the time to buy buy buy

NO CRISIS stays forever...crisis have a shelf life of few days...

IF you can believe It....SOX is above both 50 DMA & 200 DMA

GLD is above also both 50DMA & 200 DMA

WORST is Russell 2000 which has an RSI of 29.60...talk of being silly oversold condition

All major Indices are trading in an RSI range of 34.60 for S&P 500 & 39.29 in Nasdaq

I know I know...lot of bad news...BUT someone has to take the other side of the trade when It Is this oversold....

Good luck with your own analysis and comfort level.

BLOG does NOT give buy or sell.

Saleem

Indices closed down 1.07% to 1.76%.....

 Indices closed down NOT on higher rates BUT rates actually collapsed the-most in a very long time in 2 years & 10 years BUT due due to collapse & shut down of SVB in California, venture capital bank.SO panic sets in and then sell sell sell.

S&P 500 @ 3861.59, low 3846.32, high 3934.05

RSI @ 34.60

CMF @ -0.045

Internals were :

Down volume led by 19.63 to 1 in NYSE & 3.70 to 1 in Nasdaq

Declining stocks led by 4.75 to 1 in NYSE & 4.27 to 1 in Nasdaq

Net new lows were leading by 229 in NYSE & 512 in Nasdaq

VIX UP 9.69% @ 24.80

Oil @ $76.68

Gold @ $1867.20

Canadian $ @ .6192

Stocks which closed green included 

RBLX PDD BMBL PAAS

BIDU INTC PANW NEM

AEM ABBV MRNA BA

MCD TSLA LNG ULTA....

Here is my portfolio weighting :

SHOP      44.68%

ARKK     31.07%

AI           24.25%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed down 1.66% to 2.05%....

 Indices closed down.

S&P 500 @ 3918.32, low 3908.70, high 4017.81

RSI @ 39.05

CMF @ -0.041

Internals were :

Down volume led by 12.85 to 1 in NYSE & 3.72 to 1 in Nasdaq

Declining stocks led by 5.12 to 1 in NYSE & 3.83 to 1 in Nasdaq

Net new lows were leading by 70 in NYSE & 237 in Nasdaq

VIX UP 18.32% @ 22.61

Oil @ $75.72

Gold @ $1834.60

Canadian $ @ .6218

In my portfolio :

Sold LCID @ $8.02

Added 30% AI @ $22.92

Portfolio ARKK AI SHOP

Stocks which closed green included 

PYPL GE AG CCJINTC

DHI VICR AEM CMG....

AH Futures Down

AH Asian Markets Down

AH Oil Down

AH Gold UP

About market, TAPE slumped on regional bank liquidity issue, mainstream banks also hit the skids with related concern about liquidity and inverted yield related concern. This was a reaction to broad based impact of Fed aggressive policies, nobody can predict far reaching effect of any policies. This IS what a deeply oversold market looks like, relentless selling from nowhere puts fear in all market participants. BUT there is jobs report @ 830 AM which should cut through one sided negativity and we may see green by close.

BLOG does NOT give buy or sell.

Saleem