WEEKEND UPDATE OCT 29 2023 - POTENTIAL DOWNSIDE EXHAUSTION

2023年10月29日

Macro

2/10 YR CURVE - Inverted = -.15 (Down from -.14 last week)
HIGH YIELD SPREADS = 4.52 (Up from 4.50 last week)
US ISM PMI - Contracting Slower = 49.00% up from 47.60%
US ISM SERVICES - Growing Slower = 53.60% down from 54.50%


S&P 500 ( SPY ) - Not Investable
Nasdaq100 ( QQQ ) - Investable (Pullback)
Russell2000 ( IWM ) - Not Investable
Gold ( GLD ) - Investable
US 30yr Treasury Bonds ( TLT ) - Not Investable
US Dollar ( UUP ) - Investable
US Real Estate ( IYR ) - Counter Trend Rally
European Equities ( VGK ) - Counter Trend Rally
India ( INDA ) - Investable (Pullback)
Broad Asia Equities ( VPL ) - Not 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 ) - Counter Trend Rally
Natural Gas Futures ( NG ) - Counter Trend Rally

Volatility Levels

S&P 500 - 21.27 - Investable Market (Up from 17.45)
Nasdaq100 - 24.44 - Investable Market (Up from 21.41)
Russell2000 - 25.39 - Not Investable Market (Up from 21.48)

S&P 500 Volatility Structure - MIXED Structure

VIX 9-Day - 21.36 (Up from 16.29)
VIX Short Term - 21.24 (Up from 17.42)
VIX - 21.27 (Up from 17.45)
VIX Far Term - 21.33 (Up from 17.51)

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

Strongest of our ETF universe

PFIX
DWSH
BTAL
BITO
GLD
CANE
UUP

Strongest of our ETF Leveraged/Inverse Funds

LABD
HIBS
TZA
TTT
TMV
DRV
SMDD
EDZ
FAZ
YANG
SOXS
SRS
SIHJ
SKF
RWM
TYO
EEV
SDS
RXD
SQQQ
EUM
TECS
SH
UGL
QID
SJB
PSQ

Strongest of our US Equities (Russell 3000)

ANF
SP
BHVN
FRO
LRN
ESTE
PGR
X
ROAD
TGH
LPG
INSW
BRBR
ALL
CBOE
STNG
SMNRG
RRC
CRWD
NOC
CI
MCK
HUM
NEWR
FANG
PSN
SFM
GD
TW
PGTI
PXD
UNH
CTRE