Pristine Market Analysis & Watchlist 10/24

A New Leadership Group Emerges? MSFT GOOGL Report Earnings

Team,

The muted earnings reactions in the Magnificent 7 are sending us a signal. More on this, and a group of stocks that is unexpectedly setting up below. HAGE 🍻

-Andrew

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News/Economic Data

Global PMI Flash data came out largely in-line with expectations

Long-Term Treasuries

In the absence of any major market moving headlines, TLT began the session weak, rallied, and closed on the highs!

Daily Chart

This could end up being known as the Bill Ackman bottom in bonds 👇

FX Market

The dollar index bounced hard at the 50-day SMA, but remains below the white trend channel. More to come here.

Energy

Crude oil followed through to the downside, and is now trading at $83.71/barrel. Considering the geopolitical flareups taking place around the world, the best possible outcome for risk assets is unfolding!

Equity Dashboard

Equities finished with only 67.0% advancers. Volatility DECLINED ✔️

Equity Index October Performance

1 out of 4 tracked indices are in positive territory MTD. The IWM small cap underperformance is extreme. Barring the end of the world, we are expecting a bounce in small caps.

Index Price Cycle Monitor

Indices remain below their short-term moving averages 👇

In the following sections of tonight’s update, I’ll cover my research in preparation for tomorrow’s trading session

✅ Trend Model Update - Our proprietary indicator that informs us on how aggressive/defensive to position in the market

✅Market Strategy - My trading plan

✅ Today’s Trade Blotter and Position Update

✅Daily Watchlist - We scan thousands of stocks and hand-pick the best reward/risk opportunities