Trading Ranges for 09-04-2021 Plus a new tool ANYONE can use.

[Rintel]

Good morning. 

     Here we are again. Friday, a day where bears have been taken out to the back of the barn and shot. As I have been saying, I am still quite bullish on the world economy. Things are moving along nicely on the vaccine front, Stims have been passed, Biden wants infrastructure and most importantly, we are coming up against some of the best comps in the history of economic data series since the 20s. A time will come when the tide will change and when that happens, my portfolio will look a lot different but for now the wind is behind us so we remain bullish. Looking at my Volatility signal on the VIX and VXN plus a lot of things I own and these indices are coming up against the top of their respective trading ranges we may see a pull back so I will be reticent about buying up here. I put a note out this morning in the education section below 👇  It covers stripping away sources of unnecessary noise such as news headlines, talking points and my fav  #WUFLU conspiracy theories ( which may or may not be true)  and admonishes readers to focus to the most important drivers of markets which is data. There is also a spreadsheet tool at the end to help track the data sources so check it out.

Trading ranges for the day

SPY (Bullish) 395.465 - 413.78  prev. close: 408.52
QQQ (Bullish) 318.763 - 341.741  prev. close: 335.08
IWM (Neutral) 205.285 - 229.55  prev. close: 222.56
XLK (Bullish) 133.228 - 143.284  prev. close: 140.42
XLF (Bullish) 33.422 - 35.652  prev. close: 34.85
XLE (Bullish) 45.836 - 50.891  prev. close: 48.51
XLU (Bullish) 64.101 - 66.085  prev. close: 64.89
XLI (Bullish) 96.19 - 102.12  prev. close: 99.54
XLC (Bullish) 72.709 - 78.371  prev. close: 76.94
XLP (Bullish) 67.841 - 70.93  prev. close: 69.04
XLB (Bullish) 76.666 - 82.11  prev. close: 79.36
XLY (Bullish) 166.26 - 177.304  prev. close: 174.32
XLV (Neutral) 115.184 - 119.193  prev. close: 116.67
XLRE (Bullish) 39.315 - 41.256  prev. close: 40.28
XRT (Bullish) 83.032 - 94.208  prev. close: 90.79
GLD (Bearish) 157.821 - 166.687  prev. close: 164.51
SLV (Bearish) 21.905 - 24.079  prev. close: 23.62
USO (Bullish) 37.221 - 42.845  prev. close: 40.82
BNO (Bullish) 14.475 - 16.823  prev. close: 15.97
TLT (Bearish) 135.223 - 141.142  prev. close: 138.01
UUP (Neutral) 24.733 - 25.206  prev. close: 24.79
VIX (Bearish) 15.269 - 19.372  prev. close: 16.95
BTCUSD (Bullish) 55762 - 63788  prev. close: 5857

 

Good Luck out there

CA