12:57
Unknown
Earning reaction so far has been mixed.
RSI still attractive in indices and stocks.
Here is RSI numbers for market & selected stocks :
Table 1.....
Nasdaq 61.67
S&P 500 61.03
SOX 60.90
IWM 55.47
DOW 52.13
Table 2.....
GLD 82.22
TAN 65.06
XLE 43.73
Table 3......
AMD 77.43
AAPL 73.80
LRCX 68.39
TSM 66.79
FB 65.01
AMZN 62.51
CRWD 62.08
DDOG 61.16
SHOP 59.85
ZM 53.09
Above 3 table of RSI gives you a very good read on " relative strength / weakness ".
First table analyze overall market, that gives a clear signal that based on RSI we are very healthy.
Second table gives us an idea of sector, again it shows leading and lagging sector.
Third table is very interesting, many surprises as to where they are in RSI ...
As we are getting late in COVID-19 scenario, it is important that we realize, there is no simplistic solution to deal with Corona Virus.
World needs to adjust to new reality and move on with life @ hand.
All this focus on vaccine is getting overplayed, in the end they may not get a real solution only a temporary stop gap hope / solution.
We have not cured FLU for so long after so many vaccine were invented and we keep tinkering every year with new strings of FLU...still no guarantee for even cure for FLU...
We all need to take precaution just like for FLU for COVID-19, which may co-exist with FLU for a very long time.....
Once we accept this reality of precaution, world will adjust accordingly.
We are already in 3rd wave of COVID-19 in many countries where they took serious measures to control it......" reality speaks louder than fiction "
SO...lets get focus on picking stocks which is giving lot of opportunities....
Above 3 tables will give you a format to focus and prosper.....
RSI is telling us " we are more than OK even now "
Good luck with your own analysis and comfort level.
BLOG does not give buy or sell.
Saleem
Posted in: Mixed
0 comments:
Post a Comment