Market Performance

In the past week, we’ve seen indexes 📊 gain back much of their losses since mid-July. The turmoil of mid-summer’s pullback 🌧️ is probably over if we think about what happens between now and the end of the year 📅.

The expectation for the future now is to see fear 😨 persist in the market but for the market to climb a wall of worry 🧗‍♂️📈. When people fear the market 😱, it’s the best time to buy 🛒 for the intermediate to longer-term ⏳.

Volatility Corner:

VIX / VVIX deteriorated! 📉🔵 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 back below the 23-week average. In this market, we want to see a rising blue line ⬆️🔵. I suspect volatility will fall over the next few weeks 📉⏳.

The overall market looks to be in a choppy situation 🌊, which isn’t as vulnerable as it appears. The vulnerability isn’t as high because we’ve already had the downturn 📉. Now, we can expect to move upward ⬆️ from here, which will smooth volatility 🌤️ and probably see the market have positive weeks 📅📈.

MACRO INDICATOR:

• MACRO SEASON: BULLISH Since 8/2/24🛑

• MICRO WEATHER: BEARISH Since 8/9/24🛑

US Index ETF Review:

SPY

• Bullish Trend Since 8/31/23🟢***

• Go LONG Since 9/1/23🟢***

• Price to FALL Since 8/8/23🛑***

DIA

• BULLISH Trends Since 9/1/23🟢***

• Go Short Since 8/11/23🛑

• Price to RISE Since 8/28/23🟢***

QQQ

• BEARISH Trend Since 8/6/24🛑

• Neither Long or Short Since 8/16/24🛑

• Price to Fall Since 7/25/24🛑

IWM

• BULLISH Since 7/16/24🟢

• No Long or Short Since 8/14/24🟢

• Price to FALL Since 8/13/24🛑

New Highs $5-$20:

1. GOLD - Barrick Gold Corp. - Basic Materials - Canada 🇨🇦

2. PWP - Perella Weinberg Partners - Financial - USA 🇺🇸

3. PHYS - Sprott Physical Gold Trust - Financial - Canada 🇨🇦

4. ERIC - Telefonaktiebolaget LM Ericsson ADR - Technology - Sweden 🇸🇪

5. VGR - Vector Group Ltd - Consumer Defensive - USA 🇺🇸

GOLD - Barrick Gold Corp. - Basic Materials - Canada 🇨🇦

PWP - Perella Weinberg Partners - Financial - USA 🇺🇸

PHYS - Sprott Physical Gold Trust - Financial - Canada 🇨🇦

ERIC - Telefonaktiebolaget LM Ericsson ADR - Technology - Sweden 🇸🇪

VGR - Vector Group Ltd - Consumer Defensive - USA 🇺🇸

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