Macro Dashboard

Advancing 35.7%Declining 60.2%

20073386

New High 47.0%New Low 53.0%

127143

Above SMA50 51.2%Below 48.8%

28732738

Above SMA200 53.1%Below 46.9%

29782633

MARKET PULSE: OPEX in 1d (8/21) · VVIX below 63 EMA — vol crush · US: All above 63 EMA — broad strength · Weak $ lifting VGK/EEM/EWJ · $ down / commodities up — inflation signal · Yields rising, bonds pressured · TNX at 4.7% — above 4.5 threshold · ALL GREEN: GLD · ALL RED: DXY · ↓ Crossed below 63 EMA: IEF · ↑ Crossed above 21 DMA: TNX · ↓ Crossed below 21 DMA: IWM, EWJ · RATIOS: SPY / TLT ▲ risk-on · SPHB / SPLV ▼ low-vol leading · IWD / IWF ▲ value over growth · IWM / MGK ▼ mega-cap leading · HYG / TNX ▼ credit stress · XLY / XLU ▲ cyclical strength

Price BB (21d) 21 DMA 63 EMA / Vol | Flags: 21D · 63E · Vol · MS | Ref (VVIX 110, TNX 4.5)

US Equity & Volatility

SPY S&P 500 $762.6 -0.84%

21D 63E Vol MS

IWM Russell 2000 $297.67 -1.34%

21D 63E Vol MS

QQQ NASDAQ-100 $710.93 -0.72%

21D 63E Vol MS

VVIX VIX of VIX 89.86 +3.85%

21D 63E Vol MS

International & FX

VGK Europe (FTSE) $92.01 -0.24%

21D 63E Vol MS

EEM Emerging Markets $66.62 +0.77%

21D 63E Vol MS

EWJ Japan (MSCI) $94.27 -0.54%

21D 63E Vol MS

DXY US Dollar Index 98.87 +0.04%

21D 63E Vol MS

Commodities & Rates

USO Crude Oil (WTI) $134.54 +2.77%

21D 63E Vol MS

GLD Gold $415.26 +0.34%

21D 63E Vol MS

IEF 7-10Y Treasury $93.0 -0.41%

21D 63E Vol MS

TNX 10Y Yield 4.7 +0.92%

21D 63E Vol MS

Ratio (rising = numerator outperforming) Trend line (full-period) | Color flips when 42-day slope changes sign | Rising = numerator outperforming

SPY / TLT Stocks vs Bonds

9.262 TREND ▲

SPHB / SPLV High Beta vs Low Vol

1.935 TREND ▲

IWD / IWF Value vs Growth

2.103 TREND ▲

IWM / MGK Small Cap vs Mega Cap

3.359 TREND ▲

HYG / TNX High Yield vs 10Y Yield

16.942 TREND ▼

XLY / XLU Discretionary vs Utilities

2.666 TREND ▼