WEEKEND UPDATE SEP 24 2023 - BEARS GAIN THE UPPER HAND
Macro
2/10 YR CURVE - Inverted = -.66 (Up from -.69 last week)
HIGH YIELD SPREADS = 3.89 (Up from 3.78 last week)
US ISM PMI - Contracting Slower = 47.60% up from 46.40%
US ISM SERVICES - Growing Faster = 54.50% up from 52.70%
S&P 500 ( SPY ) - Investable (Pullback)
Nasdaq100 ( QQQ ) - Investable (Pullback)
Russell2000 ( IWM ) - Not Investable
Gold ( GLD ) - Investable
US 30yr Treasury Bonds ( TLT ) - Not Investable
US Dollar ( UUP ) - Investable
US Real Estate ( IYR ) - Not Investable
European Equities ( VGK ) - Not Investable
India ( INDA ) - Investable
Broad Asia Equities ( VPL ) - Investable (Pullback)
China A-Shares ( ASHR ) - Not Investable
Emerging Markets ( EEM ) - Not Investable
Wheat Futures (ZW) - Not Investable
Corn Futures ( ZC ) - Not Investable
Soybean Futures (ZS) - Not Investable
Silver ( SLV ) - Counter Trend Rally
Natural Gas Futures ( NG ) - Not Investable
Volatility Levels
S&P 500 - 17.20 - Investable (Pullback) Market (Up from 13.79)
Nasdaq100 - 22.01 - Investable (Pullback) Market (Up from 18.69)
Russell2000 - 20.61 - Not Investable Market (Up from 17.36)
S&P 500 Volatility Structure - Switched to Backwardation Structure
VIX 9-Day - 17.51 (Up from 12.51)
VIX Short Term - 17.20 (Up from 13.76)
VIX - 17.20 (Up from 13.79)
VIX Far Term - 17.21 (Up from 13.85)
Now, here is the list of individual ETFs and individual names are showing strength.
Strongest of our ETF universe
USO
URA
PFIX
CANE
SVIX
DBC
CTA
TUR
UUP
XLE
BIZD
XOP
INDA
ETHE
DBA
EWJ
Strongest of our ETF Leveraged/Inverse Funds
LABD
TMV
TTT
ERX
GUSH
TYO
HIBS
TZA
DRV
SIJ
KOLD
SRS
RWM
INDL
SMDD
EDZ
EEV
Strongest of our US Equities (Russell 3000)
RETA
NXGN
CRNX
TWNK
SPLK
CEIX
DELL
CRS
GIII
INSM
ESTC
GSHD
APO
OII
MPC
PBF
TNET
VST
NEWR
HCC
HRB
HAL
CHTR
VLO
PSX
WRK
X
LRN
LPG
AKAM
DK
FLR
MIRM
HP
JEF
GWRE
AIG
MET
NBIX
L
PRU
SFM
ATVI
VMW
ARES
LPLA
AFL
OHI
VSTO
ACGL
AMGN
HQY
BXMT
CBOE
PGR
XOM
SGEN
AJG
NRG
BWXT
MCK
COST
CVI
MTN
UNM
AON
TENB
CI
2/10 YR CURVE - Inverted = -.66 (Up from -.69 last week)
HIGH YIELD SPREADS = 3.89 (Up from 3.78 last week)
US ISM PMI - Contracting Slower = 47.60% up from 46.40%
US ISM SERVICES - Growing Faster = 54.50% up from 52.70%
S&P 500 ( SPY ) - Investable (Pullback)
Nasdaq100 ( QQQ ) - Investable (Pullback)
Russell2000 ( IWM ) - Not Investable
Gold ( GLD ) - Investable
US 30yr Treasury Bonds ( TLT ) - Not Investable
US Dollar ( UUP ) - Investable
US Real Estate ( IYR ) - Not Investable
European Equities ( VGK ) - Not Investable
India ( INDA ) - Investable
Broad Asia Equities ( VPL ) - Investable (Pullback)
China A-Shares ( ASHR ) - Not Investable
Emerging Markets ( EEM ) - Not Investable
Wheat Futures (ZW) - Not Investable
Corn Futures ( ZC ) - Not Investable
Soybean Futures (ZS) - Not Investable
Silver ( SLV ) - Counter Trend Rally
Natural Gas Futures ( NG ) - Not Investable
Volatility Levels
S&P 500 - 17.20 - Investable (Pullback) Market (Up from 13.79)
Nasdaq100 - 22.01 - Investable (Pullback) Market (Up from 18.69)
Russell2000 - 20.61 - Not Investable Market (Up from 17.36)
S&P 500 Volatility Structure - Switched to Backwardation Structure
VIX 9-Day - 17.51 (Up from 12.51)
VIX Short Term - 17.20 (Up from 13.76)
VIX - 17.20 (Up from 13.79)
VIX Far Term - 17.21 (Up from 13.85)
Now, here is the list of individual ETFs and individual names are showing strength.
Strongest of our ETF universe
USO
URA
PFIX
CANE
SVIX
DBC
CTA
TUR
UUP
XLE
BIZD
XOP
INDA
ETHE
DBA
EWJ
Strongest of our ETF Leveraged/Inverse Funds
LABD
TMV
TTT
ERX
GUSH
TYO
HIBS
TZA
DRV
SIJ
KOLD
SRS
RWM
INDL
SMDD
EDZ
EEV
Strongest of our US Equities (Russell 3000)
RETA
NXGN
CRNX
TWNK
SPLK
CEIX
DELL
CRS
GIII
INSM
ESTC
GSHD
APO
OII
MPC
PBF
TNET
VST
NEWR
HCC
HRB
HAL
CHTR
VLO
PSX
WRK
X
LRN
LPG
AKAM
DK
FLR
MIRM
HP
JEF
GWRE
AIG
MET
NBIX
L
PRU
SFM
ATVI
VMW
ARES
LPLA
AFL
OHI
VSTO
ACGL
AMGN
HQY
BXMT
CBOE
PGR
XOM
SGEN
AJG
NRG
BWXT
MCK
COST
CVI
MTN
UNM
AON
TENB
CI