Market update & Focuslist - 06/22

Evening Market Update & Strategic Insights

Thought of the day

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MARKET ANALYSIS

We’ll have to deal with the US-Iran war news, but without it, the broad market was improving before the weekend. We’ll see how we react to the news, and whether it sparks a lasting weakness or acts as the shakeout needed to fuel a new leg higher.

If major indices break below the 21dma-structure, defense time.

If we bounce off the 21dma-structure and we see breadth improve, back to playing the long side more aggressively.

Market Cycle Statistics (Trend > 21dma-structure):

• Cycle Count (days): 40

• 10Y cycle average (days): 21.27

• Z-Score: -+0.89

BREADTH

MCSI still downtrending below the declining 10dma, but we had a follow-through on the hook-up with MCI & breadth ext. improvement again on Friday.

TLMM DASHBOARD S&P 500 (MODEL: PULLBACK)

MARKET INTERNALS

Credit Spreads (SHY/HYG)

Downtrend below 21dma structure. And break of structure…but it will be all about how we react to US/Iran news tomorrow.

VIX (Volatility S&P 500)

Right in the 21dma-structure - It will be all about how we react to US/Iran news tomorrow.

10Y Bond Yields (TNX)

21dma-structure retest & rejection.

/BTC (Bitcoin)

Broke below the now declining 21dma-structure, but still holding June 5th low. Nothing to do until we reclaim the 21dma-structure here on BTC.

Hey, tonight's report is packed!

Sector breakdowns, focus setups with alert levels, fresh scans, my latest portfolio moves, and a look at the week ahead.

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