Market update & Focuslist - 08/04

Evening Market Update & Strategic Insights

Heads-up, everyone!

Just a quick note to let you know I’ll be on vacation from August 10 to 23. That means there will be no Daily Reports during that time — we’ll pick things back up on August 24.

Thanks for your understanding — looking forward to coming back recharged and ready to hit the markets with fresh energy. 🙌

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MARKET ANALYSIS

• MCSI is declining below the 10dma (contracting breadth).

• MCO hook-up so that it might go in the right direction.

• Breadth is back neutral, so we have room on both sides.

• QQQE below and might retest the declining 21dma-structure tomorrow.

• VIX & Credit Spreads both spiked above their 21dma-structure but they faded today. Right on the structure retest…key spot.

• TLMM Tend model on Pullback signal. (day #3)

We’re getting in the real test from here. Price getting to retest the declining 21dma-structure, MCO hooked-up, and breadth got off oversold.

Do we reclaim or reject at the retest, and if we reject, how do we react? Higher low or new low? That will be the signal that gives me the green light or not to re-engage on the long side.

TLMM DASHBOARD NASDAQ (MODEL: PULLBACK)

MARKET INTERNALS

Credit Spreads (SHY/HYG)

First spike above the 21dma-structure of this entire rally. Retest of the structure - key spot tomorrow.

VIX (Volatility S&P 500)

First spike above the 21dma-structure since June. Retest of the structure - key spot tomorrow.

10Y Bond Yields (TNX)

Still in that giant multi-month base. Pretty big break on Friday.

/BTC (Bitcoin)

Potential retest of the declining 21dma-structure. Retest & rejection, or reclaim?

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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