Can Nasdaq continues its recovery.....

North Korea conflict fear gripped the market last week, the question is what happens this week.

Before we can answer that question, we have to look @ RSI, they are :

TAN          56.13

DOW        55.67

Nasdaq     43.27

SOX         42.71 

S&P 500 39.94

XLE        36.29

RUT       31.43

Based on the above RSI number, it can safely be said that TAN & DOW is the place to be.

Nasdaq & SOX are in a recovery mode.

S&P 500, XLE & RUT are the weakest place to be.

BABA is reporting on Thursday before open, it has earning momentum, expecting to do well going forward.

NVDA may counter some of the negativity, Data center revenue growth was called into question, reasoning were spelled out in conference call.

TAPE should overcome North Korea conflict issue as diplomacy should prevail, but we have an urge to tweet about non issues.

It is important to have a good handle on your own portfolio in terms of fundamentals and technical pattern.

Sometimes market do test 50 DMA on indices and stocks, it does not necessarily means sell.

Hopefully by Friday of this week, we should repair most of the technical damage.

Good luck with your own interpretation of events and your comfort level.

BLOG does NOT give buy or sell.

Saleem

Posted in: Mixed