Indices closed down .44% to 1.59%....

 Indices closed down.

S&P 500 @ 4307.54, low 4306.24, high 4382.55

RSI @ 34.17

CMF @ -0.240

Internals were :

Down volume led by 2.78 to 1 in NYSE & .54 to 1 in Nasdaq

Declining stocks led by 1.74 to 1 in NYSE & 1.12 to 1 in Nasdaq

Net new 52 wk lows were leading by 29 in NYSE & 109 in Nasdaq

VIX UP 2.57% @ 23.14

Oil @ $75.03

Gold @ $1757.00

Canadian $ @ .7320

Portfolio CNX HST MGM WEED LSPD NCLH PLTR RIOT UAL XPEV

Stocks which closed UP 1% or more included RIOT XPEV

AFRM NIO AG CCJ BB SQ ROKU FSLR WYNN SNAP 

LAC FUBO AI MSTR RUN SPWR SNOW CSIQ MTCH 

DDOG TWLO SPLK NFLX AMD JKS PANW....

AH Futures Down

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE was in a reversal mode and closed @ low of the day very close to S&P 500  4305.91 which is previous low. Technically today's action is extremely bearish and we may take out lows in every index, this may result in new lows and may get enough buyers in to do some kind of V formation. Stay home stocks fared well today, Solar stocks did well.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 4359.46, high 4385.57, low 4355.08

RSI @ 39.22

CMF @ -0.222

Internals were :

UP volume led by 1.13 to 1 in NYSE & .92 to 1 in Nasdaq

Advancing stocks led by 1.26 to 1 in NYSE & .74 to 1 in Nasdaq

Net new 52 wk lows were leading by 42 in NYSE & 111 in Nasdaq

VIX Down 2.97% @ 22.56

Oil @ $74.83

Gold @ $1722.90

Canadian $ @ .7247

Portfolio CNX HST MGM WEED LSPD NCLH PLTR RIOT UAL XPEV 

Stocks which closed green included GE AAPL CNQ

IBM PFE KL AEM DDOG ELF DHI PHM BA

VICR TSLA NFLX LNG MA V NKE CMG....

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE closed mixed with weakness in Nasdaq & its internals. Market is trying to digest Fed testimony this week and direction / impact of higher interest rates on profitability. Rotation has taken hold and there is a shift towards Energy. We are still holding support levels in major indices which is a good thing.

BLOG does NOT give buy or sell.

Saleem

Indices closed down 1.63% to 2.83%.....

 Indices closed down.

S&P 500 @ 4352.63, low 4346.33, high 4419.54

RSI @ 38.11

CMF @ -0.193

Internals were :

Down volume led by 4.22 to 1 in NYSE & 3.50 to 1 in Nasdaq

Declining stocks led by 4.35 to 1 in NYSE & 4.52 to 1 in Nasdaq

Net new 52 wk lows were leading by 22 in NYSE & 66 in Nasdaq

VIX  UP 23.93% @ 23.25

Oil @ $75.29

Gold @ $1737.50

Canadian $ @ .7303

Portfolio CNX HST MGM WEED LSPD NCLH PLTR RIOT UAL XPEV

Stocks which were UP included ACB M NEM BABA SLB LNG

AH Futures UP

AH Asian Markets Down

AH Oil & Gold Down

About market, TAPE was under selling pressure and ended up testing support in all indices, so far it all held support. S&P 500 low of last week @ 4305.91 should hold in any further pullback. Technicians & strategists were all out looking for usual 10% pullback, they have been plain wrong about each pullback for many many months and may be since pandemic.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed.

S&P 500 @ 4443.11, low 4436.19, high 4457.30

RSI @ 49.24

CMF @ -0.138

Internals were :

UP volume led by 2.53 to 1 in NYSE & 2.88 to 1 in Nasdaq

Advancing stocks led by 1.41 to 1 in NYSE & 1.61 to 1 in Nasdaq

Net new 52 wk highs were leading by 84 in NYSE & 37 in Nasdaq

VIX UP 5.69% @ 18.76

Oil @ $75.45

Gold @ $1752.00

Canadian $ @ .7353

In my portfolio Bought PLTR @ $27.29

Portfolio CNX HST MGM PLTR WEED LSPD NCLH RIOT UAL XPEV

Stocks which were UP 1% or more included CNX MGM WEED XPEV

SOL AFRM CGC NIO SU CCJ APA ACB M X FSLR WYNN CNQ

LAC CCL SCHW FCX CLF RUN AMD SPWR CSIQ PENN KL

GOOS KRA BYND OXY SLB BABA JKS OSTK TLRY....

AH Futures Down

AH Asian Markets Mixed

AH Oil & Gold Down

About market, TAPE was strong for reopen stocks in a big way and closed mixed. Internals were positive. Oil, Nat gas stocks led with 10% gains while Oil reached new 3 year high. Nat Gas was UP 7% today alone. Rotation has taken hold in a big way. Very few technology stocks participated today.

BLOG does NOT give buy or sell.

Saleem

US stock market rotation is obvious......

 US stock market has transformed ....

Delta variant news has been discounted for the most part....

Reluctantly and by policies vaccination is being enforced..

High inflation is a reality known to market and being digested

Tension between US & China is dialed down a notch with the release of Huawei owner's daughter & CFO from Canadian Custody...she was welcomed back as State hero live on Chinese TV...

Chips shortage continues as very few companies are interested in making those cheaper chips, they are all racing for high end pricier chips for huge cloud servers...

US stock market staged a huge comeback from selling to below 50 DMA....

DOW is the only major index still slightly below 50 DMA...

SOX among technology is near all time high...a very good sign....

Guess which sector is strongest in US stock market based on RSI...it is Airlines JETS with RSI of 64.93...who could have predicted this.....

Second most sought after sector is Energy XLE is @ 61.54 RSI.....too many skeptics, winter is here Nat Gas is @ 3 year high.....

SOX is @ number 3 with RSI of 57.39.....lots of room to run with series of new highs to come...

DOW is the weakest with RSI of 49.80...

Nasdaq & S&P 500 with RSI of 51.87 & 51.14 has lot of room to catch up.....

Based on sentiment which had become extremely bearish and much needed pullback has occurred, we may be looking @ smooth sailing to series of new all time highs.....

Jobs report on Friday will get its 15 minutes fame...but will move on to real economic activities worldwide.

Most countries are relaxing travel restrictions which should bolster economic revival....

SO...all in all, we are looking @ many positive for stock appreciation going forward.

Please allocate more to " restart " than technology.....

Restart are opening up Airlines, cruise lines, casinos, hotels and energy which could be the biggest beneficiaries.

Good luck with your diversified portfolio and your own analysis / comfort level.

BLOG does NOT give buy or sell.

Saleem

Indices closed mixed....

 Indices closed mixed in a flat TAPE after two days of huge gains, a very healthy performance. Internals were negative though.

S&P 500 @ 4455.48, high 4463.12, low 4430.27

RSI @ 51.14

CMF @ -0.088

Internals were :

Down volume led by 1.22 to 1 in NYSE & 1.05 to 1 in Nasdaq

Declining stocks led by 1.50 to 1 in NYSE & 1.39 to 1 in Nasdaq

Net new 52 wk highs were leading by 32 in NYSE & 14 in Nasdaq

VIX Down 4.72% @ 17.75

Oil @ $73.98

Gold @ $1751.70

Canadian $ @ .7324

Stocks which close 1% or more included NCLH UAL

GE APA CRM M JBLU SAVE TRIP SNAP AAL CCL 

SCHW DASH PANW DAL MTCH UBER FB TSLA

EXPE YELP MA V OSTK....

Here is my portfolio weighting :

HST       24.90%

CNX      23.10%

UAL      11.94%

WEED     8.33%

MGM      7.28%

NCLH     6.88%

XPEV     6.73%

LSPD     6.59%

RIOT     4.25%

Next post by 6 PM on Sunday.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP 1.04% to 1.48%...NICE !!!!

 Indices closed UP.

S&P 500 @ 4448.98, high 4465.40, low 4406.75

RSI @ 50.20

CMF @ -0.149

Internals were :

UP volume led by 3.88 to 1 in NYSE & 3.42 to 1 in Nasdaq

Advancing stocks led by 1.91 to 1 in NYSE & 2.66 to 1 in Nasdaq

Net new 52 wk highs were leading by 75 in NYSE & 78 in Nasdaq

VIX Down 10.73% @ 18.63

Oil @ $73.30

Gold @ $1749.80

Canadian $ @ .7334

Portfolio CNX HST MGM WEED LSPD NCLH RIOT UAL XPEV

Stocks which were UP 3% or more included MGM NCLH UAL

BB PLTR AFRM APA CRM JBLU SAVE TRIP ROKU RCL 

TWTR WYNN CNQ CCL MGNI SCHW CLF AI EAT KRA

MRNA EXPE QS JWN OXY SLB NTNX LNG YELP

LVS MA OSTK TLRY....

AH Futures UP

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE was strong and closed UP. Most sectors participated in this rally which is very healthy. Financials did very well along with Energy, Airlines, cruise line, Casino stocks. Friday UP close should be very nice to lock more gains, Internals were strong.

BLOG does NOT give buy or sell.

Saleem