Indices closed down .56% to .88%.....

 Indices closed down.

S&P 500 @ 3955.00, low 3954.53, high 4018.37

RSI @ 36.77

CMF @ -0.088

Internals were :

Down volume led by 2.30 to 1 in NYSE & 1.05 to 1 in Nasdaq

Declining stocks led by 2.44 to 1 in NYSE & 1.32 to 1 in Nasdaq

Net new lows were leading by 103 in NYSE & 203 in Nasdaq

VIX Down 1.30% @ 25.87

Oil @ $89.55

Gold @ $1726.20

Canadian $ @ .6906

In my portfolio :

SOLD JKS @ $61.10

Added 600% SOFI @ $5.97

Portfolio ARKK LSPD PLTR SOL MGM SOFI UAL XPEV

Stocks which closed green included SOFI XPEV JKS

SHOP TIOT CNX SNAP FSLR CSIQ ENPH RUN

NIO PYPL MU TECK TSM ROKU WYNN LVS

LAC BIDU PINS DDOG PDD JD META BABA

NFLX MS ULTA....

AH Futures Down

AH Asian Markets Down

AH Oil & Gold Down

About market, TAPE closed @ low of the day as yield went up. We have breached key technical level of 50 DMA in S&P 500 which is most broadly watched index. I guess Quantitative Tightening by Fed is getting its result of " pain " through stock market to eliminate wealth effect.

BLOG does NOT give buy or sell.

Saleem

Indices closed down .96% to 1.12%....

 Indices closed down.

S&P 500 @ 3986.15, low 3965.21, high 4044.98

RSI @ 38.82

CMF @ 0.010

Internals were :

Down volume led by 4.14 to 1 in NYSE & 2.46 to 1 in Nasdaq

Declining stocks led by 4.27 to 1 in NYSE & 2.42 to 1 in Nasdaq

Net new lows were leading by 178 in NYSE & 242 in Nasdaq

VIX unchanged @ 26.21

Oil @ $91.64

Gold @ $1736.30

Canadian $ @ .6909

Portfolio ARKK LSPD PLTR JKS MGM SOL SOFI UAL XPEV

Stocks which closed green included

FSLR ENPH NIO HOOD CCJ

SQ COIN JBLU SCHW DASH

PANW GOOS DOCU ZI ZM

CRWD ESTC PDD ELF 

TWLO NTNX OSTK.....

AH Futures UP

AH Asian Markets Mixed

AH Oil UP

AH Gold Down

About market, TAPE again closed down on continued jitters about Fed and its Hawkish decision. We have reached deeply oversold conditions with RSI in 38 in S&P 500 which is defined as buying area. Internals were negative. 

BLOG does NOT give buy or sell.

Saleem

Indices closed down .57% to 1.02%....

 Indices closed down.

S&P 500 @ 4030.61, low 4017.42, high 4062.99

RSI @ 41.91

CMF @ -0.001

Internals were :

Down volume led by 2.09 to 1 in NYSE & 1.38 to 1 in Nasdaq

Declining stocks led by 2.19 to 1 in NYSE & 2.20 to 1 in Nasdaq

Net new lows were leading by 132 in NYSE & 205 in Nasdaq

VIX UP 2.54% @ 26.21

Oil @ $97.01

Gold @ $1749.70

Canadian $ @ .6993

Portfolio ARKK LSPD PLTR JKS MGM SOL SOFI UAL XPEV

Stocks which closed green included JKS MGM

RIOT APA SU CNQ CVX OXY SLB CCJ GE

WYNN CSIQ KBH PDD NVAX BA NFLX

BROS OSTK ULTA CMG.....

AH Futures UP

AH Asian Markets Mixed

AH Oil Down

AH Gold UP

About market, TAPE closed lower but tried many times to get in green until Fed Governor Neil Kashkari made some hawkish statement pushing indices lower @ close. Internals were weak. Now it is all about " turnaround Tuesday " Hope is a rare commodity on Wall Street these days, It is so easy to talk bearish.

BLOG does NOT give buy or sell.

Saleem

US stock market going higher.....

 Fed promised " pain for everyone " but US stock market is all set to go higher.

After Monday's open when all margin calls are cleared, market should move steadily higher.

Many new short position were opened on Friday.

 Guess what, they all have to cover IF they see market is NOT going lower the way they had hoped.....thus a rally will start...

Many regular market participant were extremely cautious going into Fed statement, thus we all have lot of cash to deploy....

Stock market can and does turn on a dime

Impossible to predict what comes next, BUT we play with " probabilities " or " odds "

Probability or odds are extremely high that Monday may see a low for this downturn...which means we may make a " double bottom " or confirm support second time making higher lows...

Monday could be the biggest tell tale of the strength of technical health of this market.

Once we turn UP on Monday, we may see a sustained rally

Sector wise there is a complete turnaround

DOW was strongest is now weakest based on RSI @ 42.33

XLE or energy was the weakest before, NOW is strongest @ 65.97 RSI

TAN or solar stocks are second strongest with an RSI of 55.70..giving a strong signal with golden cross

All other sectors are in 40's RSI.....so take your pick from SOX to Russell 2000 to Nasdaq

My pick will be Nasdaq which is sporting an RSI of 43.75

ARKK is seeing biggest inflow of funds despite being 50% lower.....faith in Cathi Woods is getting stronger.....me included...

SO lot to think about as to how to interpret this market, go with strength or go bargain hunting or a mixture of both....all style may work...but % gains may be the key....

Good luck with your own homework & analysis. Make sure your comfort level is very high with this market.

BLOG does NOT give buy or sell.

Saleem

Indices closed down 3.03% to 3.94%...

 Indices closed down when Fed chief uttered the word " pain " for all participant in US economy. We closed @ absolute low of the day. 

S&P 500 @ 4057.66, low 4057.66, high 4203.04

RSI @ 43.89

CMF @ 0.015

Internals were :

Down volume led by 11.12 to 1 in NYSE & 4.58 to 1 in Nasdaq

Declining stocks led by 6.50 to 1 in NYSE & 4.63 to 1 in Nasdaq

Net new lows were leading by 437 in NYSE & 135 in Nasdaq

VIX UP 17.35% @ 25.56

Oil @ $93.66

Gold @ $1749.80

Canadian $ @ .6989

Stocks which closed green included JKS FSLR

In my portfolio Added 20% SOL @ $6.40

Here is my portfolio weighting :

ARKK      31.00%

MGM       19.09%

UAL         17.01%

LSPD      11.04%

PLTR       8.21%

JKS         6.18%

SOL        4.54%

XPEV     1.96%

SOFI       .97%

Next post by 6 PM on Sunday

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .98% to 1.67%...NICE !!!

 Indices closed UP.

S&P 500 @ 4199.12, high 4200.54, low 4147.59

RSI @ 56.91

CMF @ 0.112

Internals were :

UP volume led by 6.15 to 1 in NYSE & 2.81to 1 in Nasdaq

Advancing stocks led by 3.95 to 1 in NYSE & 2.06 to 1 in Nasdaq

Net new lows were leading by 435 in NYSE & 48 in Nasdaq

VIX Down 4.56% @ 21.78

Oil @ $92.52

Gold @ $1771.40

Canadian $ @ .7052

In my portfolio :

SOLD NCLH @ $14.50

Bought JKS @ $58.28

Portfolio ARKK LSPD PLTR JKS MGM SOL SOFI UAL XPEV

Stocks which closed UP 2% or more included

ARKK LSPD PLTR SOFI UAL NCLH

SHOP SNAP AMAT FSLR NIO PYPL

MU TECK SQ X BYD JBLU ROKU

RCL WYNN QCOM QRVO SWKS

CCL CLF BIDU PINS RUN AMD

SNOW LYFT NXPI CIEN TOL

CRWD UBER DDOG PDD JD

NVDA META LRCX BABA LVS M...

AH Futures Down

AH Asian Markets UP

AH Oil UP

AH Gold Down

About market, TAPE was strong in anticipation of Fed commentary in Jackson Hole @ 10 AM. Most sectors participated in todays strong market. Internals were strong. Tomorrow could be a test of strength of this market, IF we close higher, It will mean, we are breaking out of the current trading range.

BLOG does NOT give buy or sell.

Saleem

Indices closed UP .18% to .41%...NICE !!!

 Indices closed UP.

S&P 500 @ 414077, high 4156.56, low 4119.97

RSI @ 51.38

CMF @ 0.120

Internals were :

UP volume led by 2.41 to 1 in NYSE & 3.38 to 1 in Nasdaq

Advancing stocks led by 1.69 to 1 in NYSE & 1.55 to 1 in Nasdaq

Net new lows were leading by 430 in NYSE & 90 in Nasdaq

VIX Down 5.35% @ 22.82

Oil @ $94.89

Gold @ $1761.50

Canadian $ @ .7026

Portfolio ARKK LSPD PLTR MGM NCLH SOL SOFI UAL XPEV

Stocks which closed UP 3% or more included NCLH SOL SOFI

APA MOS FSLR SPWR NIO AFRM AG CCJ X RCL LAC

CCL MSTR BIDU RUN SNOW BROS.....

AH Futures UP

AH Asian Markets Mixed

AH Oil & Gold UP

About market, TAPE closed higher despite elevated yield due to mini oversold condition. Internals were mostly positive and most sectors closed higher on renewed buying on weak open. All eyes on prediction for Jackson Hole statement from Fed, hawkish or dovish or neutral. 

BLOG does NOT give buy or sell.

Saleem