WEEKEND UPDATE MAY 21 2023 BREAKOUT INTO OPTION EXP, NOW WHAT?
Macro
2/10 YR CURVE - Inverted = -.58 (More Negative from -.52 last week)
HIGH YIELD SPREADS = 4.69 (Down from 4.81 last week)
US ISM PMI - Contracting Slower = 47.10 up from 46.30%
US ISM SERVICES - Growing Faster = 51.90% up from 51.20%
S&P 500 ( SPY ) - Investable
Nasdaq100 ( QQQ ) - Investable
Russell2000 ( IWM ) - Not Investable
Gold ( GLD ) - Investable(Pullback)
US 30yr Treasury Bonds ( TLT ) - Not Investable
US Dollar ( UUP ) - Counter Trend Rally
US Real Estate ( IYR ) - Counter Trend Rally
European Equities ( VGK ) - Investable
India ( INDA ) - Counter Trend Rally
Broad Asia Equities ( VPL ) - Investable
China A-Shares ( ASHR ) - Not Investable
Emerging Markets ( EEM ) - Investable (Pullback)
Wheat Futures (ZW) - Not Investable
Corn Futures ( ZC ) - Not Investable
Soybean Futures (ZS) - Not Investable
Silver ( SLV ) - Investable(Pullback)
Natural Gas Futures ( NG ) - Counter Trend Rally
Volatility Levels
S&P 500 - 17.03 - Investable Market (Up from 16.94 last week)
Nasdaq100 - 19.53 - Investable Market (Down from 19.76 last week)
Russell2000 - 22.73 - Choppy Market (Down from 22.76 last week)
S&P 500 Volatility Structure - Normal Contango Structure
VIX 9-Day - 14.09
VIX Short Term - 16.58
VIX - 17.03
VIX Long Term - 17.85
Now, here is the list of individual ETFs and individual names are showing strength.
Strongest of our ETF universe
CANE
SVIX
QQQ
NIB
EWJ
IWF
IGV
SMH
XHB
INDA
ARKF
XLY
Strongest of our ETF Leveraged/Inverse Funds
NAIL
TQQQ
QLD
FAZ
SOXL
ERY
DRV
SMDD
TZA
SRS
DRIP
SKF
SDP
Strongest of our Individual Equities
BLDR
META
EXAS
NVDA
SHOP
PHM
LLY
CMG
CPRT
VRSK
GOOGL
HUBS
AMD
ISRG
DVA
LYV
CRM
TAP
MNST
MSFT
MDLZ
GE
LW
UBER
MLM
RCL
ORCL
BRO
SNOW
SWAV
AJG
PACB
TDG
VMC
LRCX
TTWO
DHI
CAH
RSG
MKC
ORLY
FTNT
BSX
MCK
LEN
TYL
AAPL
PNR
STE
CHD
PEP
AVGO
ARTX
GIS
ABC
NOW
FLT
COO
AMAT
ECL
AMAT
KMB
GRMN
TTD
VRSN
HSY
ROL
KLAC
CL
MU
BKNG
DLTR
SNPS
BIIB
MA
ZTS
NFLX
PWR
ASML
CMCSA
MSI
KR
PTC
ROP
IR
CSX
TXG
HWM
DRI
CTAS
AME
HCA
BRK.B
MAR
FISV
MCO
IRM
SPGI
PIG
2/10 YR CURVE - Inverted = -.58 (More Negative from -.52 last week)
HIGH YIELD SPREADS = 4.69 (Down from 4.81 last week)
US ISM PMI - Contracting Slower = 47.10 up from 46.30%
US ISM SERVICES - Growing Faster = 51.90% up from 51.20%
S&P 500 ( SPY ) - Investable
Nasdaq100 ( QQQ ) - Investable
Russell2000 ( IWM ) - Not Investable
Gold ( GLD ) - Investable(Pullback)
US 30yr Treasury Bonds ( TLT ) - Not Investable
US Dollar ( UUP ) - Counter Trend Rally
US Real Estate ( IYR ) - Counter Trend Rally
European Equities ( VGK ) - Investable
India ( INDA ) - Counter Trend Rally
Broad Asia Equities ( VPL ) - Investable
China A-Shares ( ASHR ) - Not Investable
Emerging Markets ( EEM ) - Investable (Pullback)
Wheat Futures (ZW) - Not Investable
Corn Futures ( ZC ) - Not Investable
Soybean Futures (ZS) - Not Investable
Silver ( SLV ) - Investable(Pullback)
Natural Gas Futures ( NG ) - Counter Trend Rally
Volatility Levels
S&P 500 - 17.03 - Investable Market (Up from 16.94 last week)
Nasdaq100 - 19.53 - Investable Market (Down from 19.76 last week)
Russell2000 - 22.73 - Choppy Market (Down from 22.76 last week)
S&P 500 Volatility Structure - Normal Contango Structure
VIX 9-Day - 14.09
VIX Short Term - 16.58
VIX - 17.03
VIX Long Term - 17.85
Now, here is the list of individual ETFs and individual names are showing strength.
Strongest of our ETF universe
CANE
SVIX
QQQ
NIB
EWJ
IWF
IGV
SMH
XHB
INDA
ARKF
XLY
Strongest of our ETF Leveraged/Inverse Funds
NAIL
TQQQ
QLD
FAZ
SOXL
ERY
DRV
SMDD
TZA
SRS
DRIP
SKF
SDP
Strongest of our Individual Equities
BLDR
META
EXAS
NVDA
SHOP
PHM
LLY
CMG
CPRT
VRSK
GOOGL
HUBS
AMD
ISRG
DVA
LYV
CRM
TAP
MNST
MSFT
MDLZ
GE
LW
UBER
MLM
RCL
ORCL
BRO
SNOW
SWAV
AJG
PACB
TDG
VMC
LRCX
TTWO
DHI
CAH
RSG
MKC
ORLY
FTNT
BSX
MCK
LEN
TYL
AAPL
PNR
STE
CHD
PEP
AVGO
ARTX
GIS
ABC
NOW
FLT
COO
AMAT
ECL
AMAT
KMB
GRMN
TTD
VRSN
HSY
ROL
KLAC
CL
MU
BKNG
DLTR
SNPS
BIIB
MA
ZTS
NFLX
PWR
ASML
CMCSA
MSI
KR
PTC
ROP
IR
CSX
TXG
HWM
DRI
CTAS
AME
HCA
BRK.B
MAR
FISV
MCO
IRM
SPGI
PIG