US stock market goes in rotation mode....

 US stock market profile has changed completely, It Is in a daily rotation mode.

Before US stock market was a game of favorite stocks and it lasted almost a whole year.

NOW it has become fundamentally driven where PE is improving dramatically.

Most of @ home and previous darlings are playing not second but third fiddle....a serious change in market focus.

Also It Is no longer playing restart of economy stocks with any intensity

Base metals, steels, uranium, oil stocks, gas stocks, gaming stocks to name a few sectors has more of an ascending slope ....

Yes those Fangs, Technology, Shopify gets some movement but nothing to write home about...

YES...It Is a confusing mess in terms of what is working these days.....

Energy and gaming stocks seems to have lot of life left ...BUT....that too requires long term focus and patience....

US stock market now is a slow moving freight train where many sectors will keep moving slowly but surely upwards.

The only way to make money is to go in non glamorous sectors based on RSI where short term trading opportunity comes around over and over.

Redditt or zero commission outfits are only chasing few stocks on a daily basis based on forcing shorts to say uncle....

BUT those stocks can lose all the gains by end of the day when stock chasers get in.....

SO ....a well diversified approach in non glamorous industries may be more beneficial and more bang for your bucks.

Good luck with your own thesis as it seems, we are all shooting in the dark these days.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .08% to .19%...NICE !!!!

 Indices closed UP but faded by close and closed near low of the day. Long weekend played a role in today's TAPE action. Internals were mixed with CMF negative for 2 day's in a row.

S&P 500 @ 4204.11, high 4218.36, low 4203.57

RSI @ 57.57

CMF @ -0.042

Internals were :

UP volume led by .99 to 1 in NYSE & 1.72 to 1 in Nasdaq

Advancing stocks led by 1.63 to 1 in NYSE & 1.12 to 1 in Nasdaq

Net new 52 wk highs were leading by 324 in NYSE & 138 in Nasdaq

VIX UP .12% @ 16.76

Oil @ $66.32

Gold @ $1905.30

Canadian $ @ .7908

Stocks which closed green included CNX AG HST PLTR SQ

CRM ACB TSM TRIP QCOM SNAP FCX PINS AMD LYFT

DOCU PLAN CGC ZM PDD JD CVX MRNA ASML NVDA

LRCX FEYE EXPE LNG JKS MGA MS ULTA CMG....

In my portfolio :

Sold PLTR @ $23.70

Sold SQ @ $224.00

Here is my portfolio weighting based on 50% exposure :

MGM       36.13%

CNX        19.54%

NIO         17.59%

AG          15.79%

HST        10.95%

Next post on Monday by 6 PM

BLOG does NOT give buy or sell.

Enjoy your Memorial Day weekend!

Saleem 

Indices closed mixed.....

 Indices closed mixed.

S&P 500 @ 4200.88, high 4213.38, low 4197.78

RSI @ 57.17

CMF @ -0.025

Internals were :

UP volume led by 1.96 to 1 in NYSE & 2.16 to 1 in Nasdaq

Advancing stocks led by 1.85 to 1 in NYSE & 1.94 to 1 in Nasdaq

Net new 52 wk highs were leading by 287 in NYSE & 152 in Nasdaq

VIX Down 3.57% @ 16.74

Oil @ $66.85

Gold @ $1898.50

Canadian $ @ .7921

Portfolio CNX AG HST MGM NIO PLTR SQ

Stocks which were UP 2% or more included MGM NIO PLTR

TECK GE CCJ BB X BYD NCLH RCL QRVO AAL CCL 

FUBO SCHW RIOT FCX CLF DASH GOOS ZI BA

DDD OXY MU M COIN MGA OSTK MSTR ACB

TLRY....

AH Futures UP

AH Asian Markets UP

AH Oil & Gold UP

About market, TAPE has gone in an strong UP mode with many sectors participating daily. Market is predicting almost " perfect economic environment " not too hot not too cold. COVID-19 and its impact in world economies are constantly handicapped by each trader to no avail, its as smooth as it can get, so let it do its own thing and stay with your diversified position.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .03% to .59%...NICE !!!!

 Indices closed UP.

S&P 500 @ 4195.99, high 4202.61, low 4184.11

RSI @ 56.58

CMF @ 0.056

Internals were :

UP volume led by 3.38 to 1 in NYSE & 3.36 to 1 in Nasdaq

Advancing stocks led by 2.11 to 1 in NYSE & 2.96 to 1 in Nasdaq

Net new 52 wk highs were leading by 192 in NYSE & 57 in Nasdaq

VIX Down 7.86% @ 17.36

Oil @ $66.21

Gold @ $1901.20

Canadian $ @ .7885

Portfolio CNX AG HST MGM NIO PLTR SQ

Stocks which were UP 2% or more included CNX NIO PLTR SQ

TECK CLF APA M X BYD LVS WYNN PENN DKNG GAN

JBLU BB FSLR CSIQ JKS ENPH SEDG CSIQ RUN SPWR

GOOS TOL KBH CRWD BYND TSLA TWLO DDD QS

AAL OXY MRNA OSTK ULTA MSTR TLRY ACB...

AH Futures Mixed

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE performed well and most sector participated even solar stocks came to life. All we need is another positive close in Nasdaq which means Nasdaq is headed into another series of all time highs. Internals were strong.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .03% to .24%.....

 Indices closed down.

S&P 500 @ 4188.13, low 4182.52, high 4213.42

RSI @ 55.67

CMF @ 0.002

Internals were :

Down volume led by 2.21 to 1 in NYSE & .80 to 1 in Nasdaq

Declining stocks led by 1.53 to 1 in NYSE & 1.77 to 1 in Nasdaq

Net new 52 wk highs were leading by 226 in NYSE & 77 in Nasdaq

VIX UP 2.39% @ 18.84

Oil @ $66.07

Gold @ $1898.00

Canadian $ @ .7924

In my portfolio added 130% PLTR @ $21.32

Portfolio CNX AG HST MGM NIO PLTR SQ

Stocks which were UP 1% or more included AG MGM PLTR SQ

ACB TLRY CGC COIN LULU QRVO CCL BIDU PINS GAN

DKNG TOL KBH DHI DAL JD MRNA BA IQ ASML WB 

UAL BYND AMAT ULTA ....

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE was all green then faded and closed near low of the day, Nasdaq did not get confirmation of this UP move by closing in red also. Josh Brown CNBC commentator made a very interesting analysis that may be things have changed for so many years and we are still stuck in PE based valuation and gave AMZN last 10 years of run as a solid proof, food for thought.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .54% to 1.41%...NICE !!!!

 Indices closed UP.

S&P 500 @ 4197.05, high 4209.52, low 4170.16

RSI @ 56.92

CMF @ 0.043

Internals were :

UP volume led by 2.05 to 1 in NYSE & 1.12 to 1 in Nasdaq

Advancing stocks led by 2.13 to 1 in NYSE & 1.06 to 1 in Nasdaq

Net new 52 wk highs were leading by 258 in NYSE & 86 in Nasdaq

VIX Down 8.68% @ 18.40

Oil @ $65.16

Gold @ $1884.50

Canadian $ @ .7924

Portfolio CNX AG HST MGM NIO PLTR SQ

Stocks which were UP 2% or more included MGM NIO PLTR SQ

BYD JBLU PYPL MRVL TWTR SNAP RIOT CLF MSTR PINS

DKNG GAN MU MSFT PENN SHOP ESTC BYND NVDA

TWLO TSLA AMAT GOOG DDD ROKU OSTK LRCX....

AH Futures UP

AH Asian Markets UP

AH Oil UP

AH Gold Down

About market, TAPE was flawless today, most sectors were UP, Internals were positive. Bitcoin staged a strong comeback, Oil was UP and @ highest level in years. Gold also UP. There was no worry on Wall & Broad for a change. Hopefully Nasdaq will close strong on turnaround Tuesday to repair technical damage.

BLOG does NOT give buy or sell.

Saleem

US stock market stuck in neutral.....

 US stock market is going nowhere fast

US stock market not showing technical strength

Rotation in selling new focus

All sectors looking like bargain

Confused trader do not know what to do

YES....It Is true lot has changed lately...

It Is a direction less TAPE

S&P 500 & DOW are staying above 50 DMA...

Nasdaq SOX & Russell 2000 staying below 50 DMA

TAN Solar ETF staying below 50 DMA & 200 DMA

It Is very hard to make any sense of most sectors.....

I have a feeling that we will mark time or downward direction until more clarity comes as to direction of Interest rates.....10 year rates will be in " hyper focus "

There is a concern that IF Fed support is removed ....then market will be be very weak....everybody is trying to handicap as to WHEN.....

Interest rates are @ historical low...normalization of Interest rates are a given...what Is not given as to when......

IF interest rates starts going UP...Market will become weak to digest implication of this  " major change "

SO...we are in pre interest rate hike stage, where uncertainty has crept up

It Is becoming a " wait and see stock market "

Then there is Crypto Coin showing major crack...currently around $33,000 for Bit Coin, recent low is $29000....retest may take it further down...somehow even numbers becomes support like 20000...This number may Impact stock market like last time until Bit Coin shows stability.

NOW....the question Is how to deal with so many uncertainty.....

One simple solution...reduce exposure.....

Take quick profit.....

Strategically do buying

So lots to analyze going forward....

Good luck with your own analysis and comfort level.

BLOG does NOT give buy or sell.

Saleem