Market Performance

Friday the market had a small bump, small drop and ended essentially flat across the board. Note, the RUSSEL 2000 was the most negative. Breadth is flatlining.

We still believe in a BULL MARKET but it’s not the strongest BULL we’ve ever seen.

Volatility Corner:

VIX / VVIX improved! Blue up is good, blue down is bad. The blue line has a HIGH CORRELATION to overall markets. You see the up and down…the ratio rejected itself at the 10 WEEK AVERAGE. Which is a bad omen.

The recent action was choppy. The market reflected it. Here are what options are possible:

1. The BLUE line breaks back above the 10 Week Avg. and we get BULLISH.

2. The BLUE line breaks back below 23 Week Avg. and get very BEARISH.

MACRO INDICATOR:

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

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

US Index ETF Review:

All index ETFS reflect something similar…choppiness. The Small Caps are giving the best upside setup due to being at the bottom of their range.

SPY

• Bullish Trend Since 8/31/23🟢

• Go LONG Since 9/1/23🟢

• Price to FALL Since 9/1/23🟢***

DIA

• BULLISH Trends Since 9/1/23🟢***

• Go Short Since 8/11/23🛑

• Price to RISE Since 8/28/23🟢***

QQQ

• BULLISH Trend Since 8/31/23🟢

• Go LONG Since 8/31/23🟢

• Price to Fall Since 9/1/23🟢***

  

IWM

• Bearish Since 8/16/23🛑

• Go LONG Since 9/7/23🟢***

• Price to RISE Since 9/6/23🟢***

New Highs $5-$20:

1. NXE - Uranium (Canada 🇨🇦)

2. MUFG - Banks - Diversified (Japan 🇯🇵)

3. CXM - Software - Application 🇺🇸

4. ACMR - Semiconductor Equipment & Materials 🇺🇸

5. COUR - Education & Training Services 🇺🇸

6. CDLX - Advertising Agencies 🇺🇸

7. CBAY - Biotechnology 🇺🇸

8. ROIV - Biotechnology (UK 🇬🇧)

9. HLX - Oil & Gas Equipment & Services 🇺🇸

10. TTI - Oil & Gas Equipment & Services 🇺🇸

NXE - Uranium (Canada 🇨🇦)

MUFG - Banks - Diversified (Japan 🇯🇵)

CXM - Software - Application 🇺🇸

ACMR - Semiconductor Equipment & Materials 🇺🇸

COUR - Education & Training Services 🇺🇸

CDLX - Advertising Agencies 🇺🇸

CBAY - Biotechnology 🇺🇸

ROIV - Biotechnology (UK 🇬🇧)

HLX - Oil & gas Equipment & Services 🇺🇸

TTI - Oil & gas Equipment & Services 🇺🇸

New Highs $20+:

1. FTI - Oil & Gas Equipment & Services 🇺🇸

2. FRSH - Software - Application 🇺🇸

3. ACI - Grocery Stories 🇺🇸

4. OII - Oil & Gas Equipment & Services 🇺🇸

5. VST - Utilities - Independent Power Producers 🇺🇸

6. PAR - Software - Application 🇺🇸

7. ANF - Apparel Retail 🇺🇸

8. SLB - Oil & Gas Equipment & Services 🇺🇸

9. CEIX - Thermal Coal 🇺🇸

10. SPLK - Software - Infrastructure 🇺🇸

11. FIX - Engineering & Construction 🇺🇸

12. CELH - Beverages - Non-Alcoholic 🇺🇸

13. AMR - Coking Coal 🇺🇸

14. LII - Building Products & Equipment 🇺🇸

FTI - Oil & Gas Equipment & Services 🇺🇸

FRSH - Software - Application 🇺🇸

ACI - Grocery Stories 🇺🇸

OII - Oil & Gas Equipment & Services 🇺🇸

VST - Utilities - Independent Power Producers 🇺🇸

PAR - Software - Application 🇺🇸

ANF - Apparel Retail 🇺🇸

SLB - Oil & Gas Equipment & Services 🇺🇸

CEIX - Thermal Coal 🇺🇸

SPLK - Software - Infrastructure 🇺🇸

FIX - Engineering & Construction 🇺🇸

CELH - Beverages - Non-Alcoholic 🇺🇸

AMR - Coking Coal 🇺🇸

LII - Building Products & Equipment 🇺🇸

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