Bears Run This Town

Buy Uranium and Energy in This Pullback

AuthorAuthor

Bootleg Macro & Jay Crew
October 08, 2023

Hot week in Uranium and Oil. It’s a mix I wouldn’t expect but appreciate. Energy like currencies, can trend for 12-18 months. Check out $UROY

The overall market showed strength this week. We expect a bounce back in markets after a few weeks of downward momentum.

The VIX CORNER below will show the BEARISH MOMENTUM in the market. But the VIX is at the Top of it’s Range. We should see the VIX stop around $20.

If the VIX follows through properly, we should have a nice up day this week in indexes. The mark of a BEAR MARKET is a MASSIVE up day over 2%. Watch for one.

- Jay Crew

Market Performance

Market’s closed a on a high. The markets chopped back and forth but haven’t seen any major trend change. Bears run this town.

Small bullish momentum came back into the market.

Dow Jones was the only index down for the week.

Nasdaq showed it’s strength this week.

Volatility Corner:

VIX / VVIX deteriorated Blue up is good, blue down is bad. If this continues, expect a massive down market the near future. The blue line has a massive correlation to overall indexes.

The VIX range is wide with massive downside.

MACRO INDICATOR:

Long-term, we are in a BULL MARKET. Daily, we are in a BEAR MARKET

  • MACRO SEASON: BULLISH Since 12/2/22🟢

  • MICRO WEATHER: BEARISH Since 7/27/23🛑

US Index ETF Review:

SPY

  • Trend: BEARISH Since 9/27/23🛑

  • Trade Signal: Go SHORT Since 9/21/23🛑

  • Future Price Path: Price to FALL Since 9/27/23🛑

DIA

  • Trend: BULLISH Since 9/1/23🟢

  • Trade Signal: Go Short Since 9/21/23🔴

  • Future Price Path: FALL Since 9/21/23🔴

QQQ

  • Trend BEARISH Since 9/29/23🔴

  • Trade Signal: Go Short Since 9/21/23🔴

  • Future Price Path: FALL Since 9/26/23🔴

IWM

  • Trend: Bearish Since 8/16/23🛑

  • Trade Signal: GO SHORT Since 9/15/23🛑

  • Future Price Path: FALL Since 9/14/23🛑

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New Highs $5-$20:

  1. UROY - Uranium (Canada 🇨🇦)

  2. LPG - Oil (USA 🇺🇸)

  3. GRPN - Consumer Discounts (USA 🇺🇸)

  4. LFMD - Health and Information Services (USA 🇺🇸)

  5. CNK - Entertainment (USA 🇺🇸)

UROY - Uranium (Canada 🇨🇦)

LPG - Oil (USA 🇺🇸)

GRPN - Consumer Discounts (USA 🇺🇸)

LFMD - Health and Information Services (USA 🇺🇸)

CNK - Entertainment (USA 🇺🇸)

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New Highs $20+:

  1. RELY - Software (USA 🇺🇸)

  2. X - Steel (USA 🇺🇸)

  3. JBL - Electronics (USA 🇺🇸)

  4. MUSA - Retail (USA 🇺🇸)

  5. ANF - Apparel (USA 🇺🇸)

  6. HOLI - Industrials (China 🇨🇳)

  7. PETQ - Drug Manufacturers (USA 🇺🇸)

  8. CLS - Electronic Components (Canada 🇨🇦)

  9. CWAN - Software Application (USA 🇺🇸)

  10. ROAD - Engineering & Construction (USA 🇺🇸)

  11. ATVI - Gaming Company (USA 🇺🇸)

  12. TNET - Staffing & Management (USA 🇺🇸)

  13. QLYS - Software (USA 🇺🇸)

  14. CBOE - Markets (USA 🇺🇸)

RELY - Software (USA 🇺🇸)

X - Steel (USA 🇺🇸)

JBL - Electronics (USA 🇺🇸)

MUSA - Retail (USA 🇺🇸)

ANF - Apparel (USA 🇺🇸)

HOLI - Industrials (China 🇨🇳)

PETQ - Drug Manufacturers (USA 🇺🇸)

RELY - Software (USA 🇺🇸)

CLS - Electronic Components (Canada 🇨🇦)

CWAN - Software Application (USA 🇺🇸)

ROAD - Engineering & Construction (USA 🇺🇸)

ATVI - Gaming Company (USA 🇺🇸)

TNET - Staffing & Management (USA 🇺🇸)

QLYS - Software (USA 🇺🇸)

CBOE - Markets (USA 🇺🇸)

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