Pristine Market Analysis & Watchlist 8/29

Recessions are Bullish!

Team,

Excellent market rally today Team…but this week is far from over. Let’s dive in and assess the risk/reward ahead of Friday’s NFP employment report.

-Andrew

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Overnight/Economic Data

Today’s session kicked off with weaker than expected JOLTs Job Openings data.

Treasuries

This led to a powerful bounce in US treasuries on the long end of the curve.

And put downward pressure on Fed fund futures, implying a more dovish fed.

FX

The dollar index sold off on the weak US data, which is a positive for global risk assets.

Equity Dashboard

Equity breadth was strong, and the duration sensitive ARKK ETF led today’s action!

Equity Index MTD August Performance

All equity indices are likely to finish the month of August in negative territory, but well off their recent lows.

Index After Hours Price Action

ES S&P 500 +.17% - Broke back above the 20-day SMA

NQ Nasdaq +.29% - Broke back above the 20-day SMA

YM Dow Jones +.13% - Broke back above the 20-day SMA

RTY Russell 2000 +.12% - Testing the 20-day SMA from below

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