WEEKEND UPDATE JUNE 25 2023 - IS THE RALLY OVER??
Macro
2/10 YR CURVE - Inverted = -.97 (More Negative from -.93 last week)
HIGH YIELD SPREADS = 4.30 (Up from 4.15 last week)
US ISM PMI - Contracting Faster = 46.90 down from 47.10%
US ISM SERVICES - Growing Slower = 50.30% down from 51.90%
S&P 500 ( SPY ) - Investable
Nasdaq100 ( QQQ ) - Investable
Russell2000 ( IWM ) - Investable
Gold ( GLD ) - Investable(Pullback)
US 30yr Treasury Bonds ( TLT ) - Investable (Pullback)
US Dollar ( UUP ) - Not Investable
US Real Estate ( IYR ) - Counter Trend Rally
European Equities ( VGK ) - Investable(Pullback)
India ( INDA ) - Investable
Broad Asia Equities ( VPL ) - Investable(Pullback)
China A-Shares ( ASHR ) - Not Investable
Emerging Markets ( EEM ) - Investable (Pullback)
Wheat Futures (ZW) - Counter Trend Rally
Corn Futures ( ZC ) - Counter Trend Rally
Soybean Futures (ZS) - Not Investable
Silver ( SLV ) - Investable(Pullback)
Natural Gas Futures ( NG ) - Counter Trend Rally
Volatility Levels
S&P 500 - 13.44 - Investable Market
Nasdaq100 - 19.29 - Investable Market
Russell2000 - 19.81 - Investable Market
S&P 500 Volatility Structure - Normal Contango Structure
VIX 9-Day - 11.61
VIX Short Term - 13.08
VIX - 13.44
VIX Long Term - 14.05
Now, here is the list of individual ETFs and individual names are showing strength.
Strongest of our ETF universe
SVIX
XLY
QQQ
ARKQ
SMH
XLK
IGV
IWF
XHB
ARKF
SPHB
SPY
QUAL
IYT
EWT
CORN
XLI
SOYB
BITO
SLX
Strongest of our ETF Leveraged/Inverse Funds
NAIL
TQQQ
WANT
QLD
SOXL
SPXL
HIBL
TPOR
SPUU
DUSL
INDL
LABU
MIDU
UDOW
GLL
DUST
ZSL
DFEN
Strongest of our Individual Equities
EOSE
CCL
NVDA
MDB
RCL
META
NCLH
CELH
BLDR
EXAS
ORCL
DAL
PHM
ADBE
UBER
PANW
CFLT
NFLX
AVGO
VMC
CAR
SHOP
MRVL
TTD
MLM
LYV
UAL
LLY
TAP
AMZN
F
ISRG
DFS
ALK
HUBS
CAH
ABC
SWAV
AAL
MKC
DHI
AAPL
UHS
IPGP
NOW
LEN
PWR
CEG
PH
TDG
WDAY
ETN
MCO
ROK
VEEV
SWI
MSFT
ZBH
SPGI
ALGN
GWW
WST
NVR
EFX
NTAP
IR
HCA
PTC
HPE
MCK
BRO
AMAT
SNA
ECL
CARR
KLAC
XYL
BOOT
ABNB
PCAR
LRCX
SHW
AME
LULU
IQV
ALLE
FTNT
TEL
SYK
HWM
MAS
WMT
INMD
TMDX
FTV
CDNS
RL
NTES
MMC
BSX
CAT
DXCM
JNJ
NXPI
SNPS
LH
COST
MPWR
ITW
JCI
FAST
DE
EQIX
CTAS
TJX
TT
AON
GLW
ANSS
TER
LIN
APH
WAB
OTIS
BKR
AMP
EMR
MCHP
BIDU
ROST
CMI
FOX
APD
IDXX
WTW
PINS
2/10 YR CURVE - Inverted = -.97 (More Negative from -.93 last week)
HIGH YIELD SPREADS = 4.30 (Up from 4.15 last week)
US ISM PMI - Contracting Faster = 46.90 down from 47.10%
US ISM SERVICES - Growing Slower = 50.30% down from 51.90%
S&P 500 ( SPY ) - Investable
Nasdaq100 ( QQQ ) - Investable
Russell2000 ( IWM ) - Investable
Gold ( GLD ) - Investable(Pullback)
US 30yr Treasury Bonds ( TLT ) - Investable (Pullback)
US Dollar ( UUP ) - Not Investable
US Real Estate ( IYR ) - Counter Trend Rally
European Equities ( VGK ) - Investable(Pullback)
India ( INDA ) - Investable
Broad Asia Equities ( VPL ) - Investable(Pullback)
China A-Shares ( ASHR ) - Not Investable
Emerging Markets ( EEM ) - Investable (Pullback)
Wheat Futures (ZW) - Counter Trend Rally
Corn Futures ( ZC ) - Counter Trend Rally
Soybean Futures (ZS) - Not Investable
Silver ( SLV ) - Investable(Pullback)
Natural Gas Futures ( NG ) - Counter Trend Rally
Volatility Levels
S&P 500 - 13.44 - Investable Market
Nasdaq100 - 19.29 - Investable Market
Russell2000 - 19.81 - Investable Market
S&P 500 Volatility Structure - Normal Contango Structure
VIX 9-Day - 11.61
VIX Short Term - 13.08
VIX - 13.44
VIX Long Term - 14.05
Now, here is the list of individual ETFs and individual names are showing strength.
Strongest of our ETF universe
SVIX
XLY
QQQ
ARKQ
SMH
XLK
IGV
IWF
XHB
ARKF
SPHB
SPY
QUAL
IYT
EWT
CORN
XLI
SOYB
BITO
SLX
Strongest of our ETF Leveraged/Inverse Funds
NAIL
TQQQ
WANT
QLD
SOXL
SPXL
HIBL
TPOR
SPUU
DUSL
INDL
LABU
MIDU
UDOW
GLL
DUST
ZSL
DFEN
Strongest of our Individual Equities
EOSE
CCL
NVDA
MDB
RCL
META
NCLH
CELH
BLDR
EXAS
ORCL
DAL
PHM
ADBE
UBER
PANW
CFLT
NFLX
AVGO
VMC
CAR
SHOP
MRVL
TTD
MLM
LYV
UAL
LLY
TAP
AMZN
F
ISRG
DFS
ALK
HUBS
CAH
ABC
SWAV
AAL
MKC
DHI
AAPL
UHS
IPGP
NOW
LEN
PWR
CEG
PH
TDG
WDAY
ETN
MCO
ROK
VEEV
SWI
MSFT
ZBH
SPGI
ALGN
GWW
WST
NVR
EFX
NTAP
IR
HCA
PTC
HPE
MCK
BRO
AMAT
SNA
ECL
CARR
KLAC
XYL
BOOT
ABNB
PCAR
LRCX
SHW
AME
LULU
IQV
ALLE
FTNT
TEL
SYK
HWM
MAS
WMT
INMD
TMDX
FTV
CDNS
RL
NTES
MMC
BSX
CAT
DXCM
JNJ
NXPI
SNPS
LH
COST
MPWR
ITW
JCI
FAST
DE
EQIX
CTAS
TJX
TT
AON
GLW
ANSS
TER
LIN
APH
WAB
OTIS
BKR
AMP
EMR
MCHP
BIDU
ROST
CMI
FOX
APD
IDXX
WTW
PINS