When did the BULL MARKET BREAK?

Things have changed, we show you how we know with 1 indicator.

Author

Bootleg Macro
August 20, 2023

Right now, the stock market is broken. Indexes are down multiple weeks in a row. Bears have won August.

In the volatility corner for a couple weeks, I’ve been exposing the change. You’ve had warnings but today you get a big one.

What you’ll notice too, is instead of pictures and trade ranges. I made videos for every stock on the list this week. Tell me what you think compared to images.

The volatility is impacting how many breakouts there are too. We have far less than normal. So we should start with volatility. It’s that important.

- Dustin

Volatility Corner:

VIX / VVIX deteriorated badly! Blue up is good, blue down is bad. The blue line has a HIGH CORRELATION to overall markets. You see the up and down…we are now officially below the 23 Week Avg for the first time since January 3rd, 2023.

This signal shouldn’t be ignored. This is important. Be very cautious until things improve.

We can certainly snap back above next week. But overall, change is here.

Market Performance

Index Performance:

The market fell. Every index fell. There are no bright spots this week. Maybe if you want to go long,$XME or $UUP.

Indexes were all down for the week. S&P500 was down 2.20% for the week. Dow Jones was down 1.99% for the week. Nasdaq was down 2.95% for the week.

A nothing burger of a Friday close.

We’ve lost all 1-month rolling momentum in indexes. Be cautious.

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New Highs $5-$20:

  1. PR

  2. TDS

I’ll admit it’s a light list. The market isn’t very BULLISH right now. The market is bit BEARISH.

PR

TDS

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New Highs $20+:

  1. ARNC

  2. UBS

  3. CNX

  4. CSCO

  5. PFGC

  6. CEIX

  7. CBOE

  8. AMR

  9. AESI

  10. PDCO

  11. ANF

  12. HKIT

  13. FRHC

ARNC

UBS

CNX

CSCO

PFGC

CEIX

CBOE

AMR

AESI

PDCO

ANF

HKIT

FRHC

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