WEEKEND UPDATE MAY 7 2023 - BROADENING FORMATION - WHATS NEXT?
Macro
2/10 YR CURVE - Inverted = -.48 (Down from -.60 last week)
HIGH YIELD SPREADS = 4.95 (Up from 4.48 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
US 30yr Treasury Bonds ( TLT ) - Investable (Pullback)
US Dollar ( UUP ) - Not Investable
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 ) - Investable (Pullback)
Emerging Markets ( EEM ) - Investable (Pullback)
Wheat Futures (ZW) - Not Investable
Corn Futures ( ZC ) - Not Investable
Soybean Futures (ZS) - Not Investable
Silver ( SLV ) - Investable
Natural Gas Futures ( NG ) - Not Investable
Volatility Levels
S&P 500 - 18.34 - Choppy Market
Nasdaq100 - 22.03 - Choppy Market
Russell2000 - 24.28 - Choppy Market
S&P 500 Volatility Structure - mixed Structure
VIX 9-Day - 18.94
VIX Short Term - 18.34
VIX - 18.34
VIX Long Term - 18.70
Now, here is the list of individual ETFs and individual names are showing strength.
Strongest of our ETF universe
CANE
EWL
GDX
SLV
NIB
XLP
EWQ
EWG
SVIX
INDA
VGK
EWI
EWU
EWD
XHB
IVOL
PPLT
XLK
QQQ
EWK
EWJ
IWF
Strongest of our ETF Leveraged/Inverse Funds
NAIL
EURL
TQQQ
INDL
Strongest of our Individual Equities
META
SWAV
BLDR
TAP
CMG
NVDA
PHM
LLY
ISRG
CHD
MDLZ
WST
MNST
HSY
GE
PEP
LW
LULU
OLLI
KMB
BRO
MSFT
ORLY
RSG
MKC
GIS
CPRT
HUBS
MCD
TYL
DHI
ZBH
ROL
VRTX
TXG
LVS
AJG
CLX
PG
LEN
CL
BIIB
MRK
XRAY
ZTS
MDT
FISV
NCR
WELL
MLM
ECL
VRSK
SO
UBER
AZO
LIN
UHS
COO
SBUX
AAPL
HCA
KO
CAH
MMC
EXI
K
TDG
RRR
PACB
VMC
PNR
WM
WYNN
SNA
BSX
CMCSA
ORCL
BRK.B
MAS
RE
ABT
EXAS
WMT
OTIS
IRM
MA
ROP
AOS
KHC
HUM
EXPD
VRSN
TTWO
RMD
DLTR
SYK
DXCM
CHRW
APD
KR
NKE
EQIX
FLT
ETN
MAR
AEE
AON
LRCX
IR
XYL
2/10 YR CURVE - Inverted = -.48 (Down from -.60 last week)
HIGH YIELD SPREADS = 4.95 (Up from 4.48 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
US 30yr Treasury Bonds ( TLT ) - Investable (Pullback)
US Dollar ( UUP ) - Not Investable
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 ) - Investable (Pullback)
Emerging Markets ( EEM ) - Investable (Pullback)
Wheat Futures (ZW) - Not Investable
Corn Futures ( ZC ) - Not Investable
Soybean Futures (ZS) - Not Investable
Silver ( SLV ) - Investable
Natural Gas Futures ( NG ) - Not Investable
Volatility Levels
S&P 500 - 18.34 - Choppy Market
Nasdaq100 - 22.03 - Choppy Market
Russell2000 - 24.28 - Choppy Market
S&P 500 Volatility Structure - mixed Structure
VIX 9-Day - 18.94
VIX Short Term - 18.34
VIX - 18.34
VIX Long Term - 18.70
Now, here is the list of individual ETFs and individual names are showing strength.
Strongest of our ETF universe
CANE
EWL
GDX
SLV
NIB
XLP
EWQ
EWG
SVIX
INDA
VGK
EWI
EWU
EWD
XHB
IVOL
PPLT
XLK
QQQ
EWK
EWJ
IWF
Strongest of our ETF Leveraged/Inverse Funds
NAIL
EURL
TQQQ
INDL
Strongest of our Individual Equities
META
SWAV
BLDR
TAP
CMG
NVDA
PHM
LLY
ISRG
CHD
MDLZ
WST
MNST
HSY
GE
PEP
LW
LULU
OLLI
KMB
BRO
MSFT
ORLY
RSG
MKC
GIS
CPRT
HUBS
MCD
TYL
DHI
ZBH
ROL
VRTX
TXG
LVS
AJG
CLX
PG
LEN
CL
BIIB
MRK
XRAY
ZTS
MDT
FISV
NCR
WELL
MLM
ECL
VRSK
SO
UBER
AZO
LIN
UHS
COO
SBUX
AAPL
HCA
KO
CAH
MMC
EXI
K
TDG
RRR
PACB
VMC
PNR
WM
WYNN
SNA
BSX
CMCSA
ORCL
BRK.B
MAS
RE
ABT
EXAS
WMT
OTIS
IRM
MA
ROP
AOS
KHC
HUM
EXPD
VRSN
TTWO
RMD
DLTR
SYK
DXCM
CHRW
APD
KR
NKE
EQIX
FLT
ETN
MAR
AEE
AON
LRCX
IR
XYL