WEEKEND UPDATE SEP 4 2023 - THE BULLS REGAIN THE UPPER HAND

Sep 4, 2023

Macro

2/10 YR CURVE - Inverted = -.69 (Up from -.78 last week)
HIGH YIELD SPREADS = 3.85 (Down from 3.91 last week)
US ISM PMI - Contracting Slower = 47.60% up from 46.40%
US ISM SERVICES - Growing Slower = 52.70% down from 53.90%


S&P 500 ( SPY ) - Investable
Nasdaq100 ( QQQ ) - Investable
Russell2000 ( IWM ) - Investable (Pullback)
Gold ( GLD ) - Investable
US 30yr Treasury Bonds ( TLT ) - Counter Trend Rally
US Dollar ( UUP ) - Investable
US Real Estate ( IYR ) - Not Investable
European Equities ( VGK ) - Investable (Pullback)
India ( INDA ) - Investable
Broad Asia Equities ( VPL ) - Investable
China A-Shares ( ASHR ) - Not Investable
Emerging Markets ( EEM ) - Not Investable
Wheat Futures (ZW) - Not Investable
Corn Futures ( ZC ) - Not Investable
Soybean Futures (ZS) - Counter Trend Rally
Silver ( SLV ) - Investable
Natural Gas Futures ( NG ) - Not Investable

Volatility Levels

S&P 500 - 13.09 - Investable Market (Down from 15.68)
Nasdaq100 - 18.41 - Investable Market (Down from 20.88)
Russell2000 - 16.94 - Investable (Pullback) Market (Down from 19.76)

S&P 500 Volatility Structure - Normal Contango Structure

VIX 9-Day - 10.45 (Down from 13.78)
VIX Short Term - 12.97 (Down from 15.58)
VIX - 13.09 - (Down from 15.68)
VIX Far Term - 13.33 (Down from 15.88)

Now, here is the list of individual ETFs and individual names are showing strength.

Strongest of our ETF universe

SVIX
TUR
URA
XOP
PFIX
CANE
USO
UUP
SOYB
XLE
IGV
DBC
SLV
XHB
SMH
SLX
QUAL
QQQ
XLK
IWF

Strongest of our ETF Leveraged/Inverse Funds

GUSH
ERX
TQQQ
PILL
QLD
SDP
AGQ
TYO

Strongest of our US Equities (Russell 3000)

USM
VRT
RETA
ANF
ESTE
MOD
CEIX
CORT
XPO
VNO
CPRI
LLY
IDYA
SM
FSLY
RYTM
PARR
DELL
CNX
CRC
RVMD
YETI
GTLS
VST
BR
ETN
MTDR
EXEL
NEWR
INTU
NTRA
SPLK
ODFL
MPC
HAS
TDW
NOV
OII
CSCO
SPB
GPN
APA
TRGP
OC
MUR
OSK
CDW
TJX
CHX
CAL
EMR
VRNS
MAT
NBIX
KRC
ADP
BKR
JBL
PWR
PXD
GES
NVT
ALSN
ITT
WDAY
PSX
CCOI
CBOE
COP
BLDR
PBF
IBM
URI
NEOG
FNF
NATI
SLB
EQT
MA
HUBB
TOL
PNR
LDOS
IMVT
GSHD
FFIV
HES
INTC
MAR
RRC
WDC
IBKR
HAL
ACN
V
AXSM
CCK
FLS
KLAC
CDNS
ZS
LYB
WLK
HUBS
THC
LNG
PFGC
LOW
SNPS
HD
BOH
SUM
CME
VEEV
CE
XOM
LULU
CDAY
QRVO
FAF