Indices closed mixed.....

 Indices closed mixed, second day of well deserved rest after sharply higher moves.

S&P 500 @ 4508.24, high 4511.99, low 4487.83

RSI @ 68.67

Internals were :

Down volume led by 2.36 to 1 in NYSE & 1.96 to 1 in Nasdaq

Declining stocks led by 1.42 to 1 in NYSE & 2.00 to 1 in Nasdaq

Net new highs were leading by 50 in NYSE & lows by 82 in Nasdaq

VIX UP .99% @ 14.32

Oil @ $72.90

Gold @ $1986.60

Canadian $ @ .6220

Portfolio AI LYFT META MSFT NVDA PLTR SHOP SNAP

Internals were negative & Russell 2000 took a beating again.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .07% to .47%...NICE !!!!

 Indices closed UP despite mini profit taking in leading stocks.

S&P 500 @ 4502.88, high 4521.17, low 4495.31

RSI @ 68.28

Internals were :

UP volume led by 2.04 to 1 in NYSE & 1.99 to 1 in Nasdaq

Advancing stocks led by 1.36 to 1 in NYSE & 1.33 to 1 in Nasdaq

Net new highs were leading by 128 in NYSE & 21 in Nasdaq

VIX UP .14% @ 14.18

Oil @ $76.66

Gold @ $1965.10

Canadian $ @ .6329

Portfolio AI LYFT META MSFT NVDA PLTR SHOP SNAP 

Internals were positive today, sign of ongoing uptick buying.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 1.43% to 5.44%....NICE !!!

 Indices rocketed UP in one of the biggest UP move for 2023. Russell 2000 was the-Superstar today, UP a whopping 5.44% in a single day.

S&P 500 @ 4495.70, high 4508.67, low 4458.97

RSI @ 67.79

Internals were :

UP volume led by 10.25 to 1 in NYSE & 3.84 to 1 in Nasdaq

Advancing stocks led by 9.80 to 1 in NYSE & 3.57 to 1 in Nasdaq

Net new highs were leading by 151 in NYSE & lows by 22 in Nasdaq

VIX Down 4.07% @ 14.16

Oil @ $78.26

Gold @ $1966.50

Canadian $ @ .6284

In my portfolio ...added 50% PLTR @ $19.90

Portfolio AI LYFT META MSFT NVDA PLTR SHOP SNAP

TAPE had the hallmark of a major breakout which should carry into series of new highs.....

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed...

 Indices closed mixed after a strong Friday, DOW was the sole green along with mini green in Russell 2000.

S&P 500 @ 4411.55, low 4393.82, high 4421.76

RSI @ 61.25

Internals were :

UP volume led by .81 to 1 in NYSE & 1.04 to 1 in Nasdaq

Advancing stocks led by 1.08 to 1 in NYSE & .97 to 1 in Nasdaq

Net new lows were leading by 45 in NYSE & 180 in Nasdaq

VIX UP 4.16% @ 14.76

Oil @ $78.26

Gold @ $1950.20

Canadian $ @ .6169

Portfolio AI LYFT META MSFT NVDA PLTR SHOP SNAP

Inflation reports will be in focus which may be a neutral report @ worst.

BLOG does NOT give buy or sell.

Saleem

US stock market ready for series of new highs...

 In last 11 trading days Nasdaq has been UP 9 days.....it was a straight 8 days of UP move....

All major Indices have crossed their resistance points.....no more struggling with 200 DMA or 50 DMA...all have been cleared in a hurry...

WHY all this optimism Wall & Broad street ?

First of all we are in the most bullish quarter Q4, where most of the money is made and year ending Sales & profitability is in FOCUS

October generally is the most bearish month...which has departed for at least 11 months...

Most of the issues of High high Interest rates / High Inflation has been discounted and has seen its peak...

Rally will get its high throttle when 1000 of shorts try to cover in panic and eventually go long....thus a sustained UP move and spirited gains in strong sectors....

Speaking of strong sectors....none other than technology will gain the most almost 3 to 1 compared to any other sector

XHB or homebuilders are looking strong

Crypto is coming back ....

Please put your focus on leaders NOT laggards.....

YES there will be periodic pullbacks to catch bull's breath...being tired is no good.....

Expect RSI to touch 80's and stay there....

IF you are still waiting to be aggressive ...do not delay.....stars are all lined UP

Expect this UPTREND to continue into 2024....

Interest rates will see downward adjustment in Q2 of 2024 which may fuel this rally further.

Nasdaq RSI @ 63.01 is in bargain basement territory based on where its heading into 80's

Leaders in Technology will remain the stocks to be IN

SO

Do your own home work & find your best ideas and execute....

Any delay may cost you in terms of gains.

Good luck with your own take about market & sectors.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 1.15% to 2.05%...NICE !!!!

 Indices closed @ high of the day and clearing major resistance.

S&P 500 @ 4415.24, high 4418.03, low 4353.34

RSI @ 61.76

Internals were :

UP volume led by 2.55 to 1 in NYSE & 1.78 to 1 in Nasdaq

Advancing stocks led by 2.69 to 1 in NYSE & 1.57 to 1 in Nasdaq

Net new lows were leading by 82 in NYSE & 292 in Nasdaq

VIX down 7.33% @ 14.17

Oil @ $77.17

Gold @ $1937.70

Canadian $ @ .6169

Here is my portfolio weighting :

LYFT         19.98%

PLTR        15.02%

NVDA       14.76%

AI             14.28%

MSFT      11.86%

SHOP     11.71%

META     7.78%

SNAP     4.61%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .65% to 1.57%....

 Indices closed down @ low of the day.

S&P 500 @ 4347.35, low 4343.94, high 4393.40

RSI @ 55.40

Internals were :

Down volume led by 3.14 to 1 in NYSE & 2.24 to 1 in Nasdaq

Declining stocks led by 2.73 to 1 in NYSE & 2.82 to 1 in Nasdaq

Net lows were leading by 70 in NYSE & 274 in Nasdaq

VIX UP 5.81% @ 15.29

Oil @ $75.74

Gold @ $1965.40

Canadian $ @ .6228

In my portfolio :

Sold TSLA in Toronto @ $19.50

Bought SHOP @ $60.40

Portfolio AI LYFT META MSFT NVDA PLTR SHOP SNAP

TAPE was deeply overbought thus a sharp pullback was imminent, Russell 2000 is troubling many as it keeps going lower & lower...

BLOG does NOT give buy or sell.

Saleem