Indices closed down .54% to .85%....

 Indices closed down due to profit taking and overbought conditions. Lot of talk about market correction keeping buyers away.

S&P 500 @ 4181.17, low 4174.85, high 4198.10

RSI @ 61.96

CMF @ 0.200

Internals were :

Down volume led by 3.21 to 1 in NYSE & 1.32 to 1 in Nasdaq

Declining stocks led by 2.13 to 1 in NYSE & 2.14 to 1 in Nasdaq

Net new 52 wk highs were leading by 245 in NYSE & 64 in Nasdaq

VIX UP 5.68% @ 18.61

Oil @ $63.58

Gold @ $1767.70

Canadian $ @ .7706

Stocks which closed green included MGM NIO BTCC-U.TO

X COIN JBLU SAVE NCLH RCL AAL CCL RIOT CLF

MSTR SNOW DAL MRNA MCD TSLA UAL NFLX

LNG OSTK CMG X.....

Here is my portfolio weighting 90% exposure :

SQ          28.89%

MGM      22.18%

SU          13.57%

NIO           8.79%

AG            8.67%

HST          7.48%

CNX         7.32%

BTCC-U  1.92%

ACB        1.18%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .22% to .71%...NICE !!!!

 Indices closed UP.

S&P 500 @ 4211.47, high 4218.78, low 4176.81

RSI @ 68.13

CMF @ 0.276

Internals were :

UP volume led by 1.17 to 1 in NYSE & .56 to 1 in Nasdaq

Advancing stocks led by 1.08 to 1 in NYSE & .85 to 1 in Nasdaq

Net new 52 wk highs were leading by 640 in NYSE & 217 in Nasdaq

VIX UP 1.91% @ 17.61

Oil @ $65.01

Gold @ $1768.30

Canadian $ @ .7701

Portfolio ACB CNX AG HST MGM NIO BTCC-U SQ SU

Stocks which closed green included HST SU

SAVE LULU QCOM QRVO SNAP SWKS 

CNQ SCHW PINS MU INTC NXPI TOL

KBH CIEN CVX EAT UPS DHI PHM

NKE FB FEYE GOOG SLB ORCL

MS OSTK MCD ULTA CMG V....

AH Futures Down

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, TAPE was strong @ open then lost it all and went into negative then came back UP to close near high of the day. Internals were mixed. AH earning reaction were mixed with AMZN beating expectations and actually moved UP. Friday can take less drama and a positive close.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .08% to .48%.....

 Indices closed down.

S&P 500 @ 4183.18, low 4181.78, high 4201.53

RSI @ 65.12

CMF @ 0.207

Internals were :

UP volume led by 1.72 to 1 in NYSE & 1.69 to 1 in Nasdaq

Advancing stocks led by 1.44 to 1 in NYSE & 1.27 to 1 in Nasdaq

Net new 52 wk highs were leading by 462 in NYSE & 156 in Nasdaq

VIX Down 1.59% @ 17.28

Oil @ $63.86

Gold @ $1773.90

Canadian $ @ .7642

In my portfolio :

Sold APA @ $20.50

Added 75% MGM @ $41.89 minutes before close.

Portfolio ACB CNX AG HST MGM NIO BTCC-U SQ SU

Stocks which were UP 2% or more included ACB CNX SU APA

VUZI SNAP RIOT LYFT SHOP CGC UBER CVX UPS 

PHM GOOG OXY SLB CVX LNG TLRY...

AH Futures UP

AH Asian Markets UP

AH Oil Down

AH Gold UP

About market, TAPE closed near low of the day while internals were positive. There was no surprise in Fed minutes or Q&A. There was anxious wait for earnings from AAPL & FB which were more than exceeding expectations. QCOM was way better than expectations. MGM also reported much better than expectations in both Sales & EPS with an easy beat. It is State of the Union address which could add to patriotic fervor and bullish mode.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 4186.72, low 4176.22, high 4193.35

RSI @ 65.85

CMF @ 0.259

Internals were :

Down volume led by .90 to 1 in NYSE & 1.19 to 1 in Nasdaq

Declining stocks led by 1.04 to 1 in NYSE & 1.23 to 1 in Nasdaq

Net new 52 wk highs were leading by 373 in NYSE & 148 in Nasdaq

VIX Down .45% @ 17.56

Oil @ $62.94

Gold @ $1778.80

Canadian $ @ .7601

In my portfolio Bought ACB @ $8.55

Portfolio APA ACB CNX AG HST MGM NIO BTCC-U SQ SU

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

BYD WYNN LVS MGNI SCHW MSTR DASH RIDE

PENN MTCH JD NVAX KRA UPS MRNA PHM

JWN GPRO M.....

AH Futures Mixed

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE was neutral by close to digest gains. AH earnings were mostly above estimates. Internals are mostly negative. Wednesday Fed policy statement is due @ 2 PM, expect no surprise. Stocks are on rotation which is healthy.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed...

 Indices closed mixed.

S&P 500 @ 4187.62, high 4194.19, low 4182.36

RSI @ 66.02

CMF @ 0.271

Internals were :

UP volume led by 2.15 to 1 in NYSE & 6.79 to 1 in Nasdaq

Advancing stocks led by 1.80 to 1 in NYSE & 2.13 to 1 in Nasdaq

Net new 52 wk highs were leading by 599 in NYSE & 221 in Nasdaq

VIX UP 1.79% @ 17.64

Oil @ $61.91

Gold @ $1780.10

Canadian $ @ .7598

In my portfolio added 200% MGM @ 41.65

Portfolio APA CNX AG HST MGM NIO BTCC-U SQ SU

Stocks which were UP 2% or more included APA NIO BTCC-U SQ

TECK X COIN TSM ROKU VUZI QRVO SWKS AAL FCX CLF

AMD GAN PLAN SHOP ESTC DDOG ENPH SEDG TWLO

QS SLB MU AMZN LRCX MSTR TLRY.....

AH Futures UP

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE was strong and closed near high of the day, Internals were strong. S&P 500 and finally Nasdaq made a new all time high, new highs gets series of new highs in Nasdaq. Many pundits are nervous and have called top in this market since last 2 weeks which should give more short covering to make new highs.

BLOG does NOT give buy or sell.

Saleem

US stock market on the mend......

 US stock market has gone through many gyrations lately.

Capital Gains tax is lurking / simmering

3rd wave playing havoc in many places like Michigan, Canada, India, Pakistan to name a few ..

Borders are being closed in Canadian intra province travel

US, Canada & Mexico border remains closed till end of May 14 months already....

All this plus Interest rate direction seems to crop up as an issue

Canadian Vaccination is going @ snail pace, only 3.2% got first vaccine so far, my second vaccination is almost 4 months later......which is normal duration for everyone.....

OF all the reasons listed above, COVID-19 3rd wave remains as real issue to impact economies of the world plus stock market.....

Last Friday, stock market close was full of optimism....

Earnings have been better than expected

Important earnings continues this week, TSLA, AAPL, MSFT to be in focus along with many others.....

Here is the RSI read for a take in sectors / index :

S&P 500          65.32

XLB                 63.65

DOW               62.92

Nasdaq          59.43

GLD              56.89

IWM              55.08

SLV              54.24

TAN             54.06

JETS           45.78

XLE            44.56

Surprisingly Energy / Oil stocks have slumped to last place or most oversold position, I am overweight in this sector with CNX APA SU....

Airlines have stumbled badly on poor earnings reports

Solar stocks have lost majority of its gains very quickly

Steels, Copper, Nickle and Zinc are 2nd best performer and remains in bull mode

Nasdaq & Russell 2000 remains undervalued and are coming back....

SO....lot of optimism in US stock market for a quick GDP turnaround, same story all over the world from China to Canada.....

A well diversified portfolio is a smart way to optimize gains a mix of top 3 to bottom 3 may do the trick.

Good luck with your own interpretation of this YO YO market.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .67% to 1.44%...NICE !!!!

 Indices closed strong mostly negating yesterday's slump. Internals were strong. Most sector participated in today's rally.

S&P 500 @ 4180.17, high 4194.17, low 4138.78

RSI @ 65.32

CMF @ 0.325

Internals were :

UP volume led by 4.68 to 1 in NYSE & 4.39 to 1 in Nasdaq

Advancing stocks led by 3.62 to 1 in NYSE & 2.82 to 1 in Nasdaq

Net new 52 wk highs were leading by 465 in NYSE & 139 in Nasdaq

VIX Down 7.38% @ 17.33

Oil @ $62.14

Gold @ $1777.80

Canadian $ @ .7502

Stocks which were UP 3% or more included APA NIO 

SAVE VUZI ACB TLRY CGC TWTR QRVO SNAP

SWKS AAL MGNI SCHW RIOT FCX CLF AI

DASH PINS RUN SPWR ENPH AMD GAN LYFT 

DADA PLAN PDD MRNA TER DHI VICR

HUYA ASML UAL YY QS MS OSTK X....

In my portfolio added 100% SQ @ $243.10

Here is my portfolio weighting with 75% exposure :

SQ           32.67%

SU          14.50%

AG         10.48%

NIO       10.21%

APA          9.03%

CNX         8.33%

HST          8.02%

MGM       4.82%

BTCC-U  1.94%

Next post by 6 PM on Sunday

BLOG does NOT give buy or sell.

Saleem