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WEEKEND UPDATE JUNE 4 2023 - SMALL CAPS JOIN THE PARTYMacro 2/10 YR CURVE - Inverted = -.81 (More Negative from -.74 last week) HIGH YIELD SPREADS = 4.65 (Up from 4.58 last week) US ISM PMI - Contracting Faster = 46.90 down from 47.10% US ISM SERVICES - Growing Faster = 51.90% up from 51.20% S&P 500 ( SPY ) - Investable Nasdaq100 ( QQQ ) - Investable Russell2000 ( IWM ) - Investable Gold ( GLD ) - Investable(Pullback) US 30yr Treasury Bonds ( TLT ) - Not Investable US Dollar ( UUP ) - Investable US Real Estate ( IYR ) - Not Investable European Equities ( VGK ) - Investable(Pullback) India ( INDA ) - Investable Broad Asia Equities ( VPL ) - Investable China A-Shares ( ASHR ) - Not Investable Emerging Markets ( EEM ) - Investable (Pullback) Wheat Futures (ZW) - Not Investable Corn Futures ( ZC ) - Counter Trend Rally Soybean Futures (ZS) - Not Investable Silver ( SLV ) - Investable(Pullback) Natural Gas Futures ( NG ) - Not Investable Volatility Levels S&P 500 - 14.60 - Investable Market (Down from 17.95 last week) Nasdaq100 - 19.29 - Investable Market (Down from 22.21 last week) Russell2000 - 20.88 - Investable Market (Down from 23.51 last week) S&P 500 Volatility Structure - Normal Contango Structure VIX 9-Day - 12.74 VIX Short Term - 14.50 VIX - 14.60 VIX Long Term - 14.79 Now, here is the list of individual ETFs and individual names are showing strength. Strongest of our ETF universe SVIX SMH XLK QQQ IGV IWF NIB ARKF ARKG XLY QUAL EWJ Strongest of our ETF Leveraged/Inverse Funds KOLD TQQQ SOXL QLD SDP KORU WANT SPXL SPUU RXD INDL Strongest of our Individual Equities MDB NVDA META AMD CFLT MRVL AVGO HUBS EXAS BLDR GOOGL NOW SNPS MSFT CPRT NET AMZN NFLX ADBE LRCX TTD RCL SHOP PACB AKAM TTWO ORCL KLAC FSLY VRSK PANW WDAY ACN MU AMAT CRM AAPL VMC CDNS SPLK ASML UBER CCL MLM SNOW DVA CEG ANET DRI IT FTNT COF PTC FLT NTAP STZ MCK PWR MCO GRMN IPG ETN KEYS NWS SPGI ANSS STE CSCO CTAS MKC MPWR EFX TER
AMEX:IWMLong
by mbrannigan
Using Pinescript for BacktestingA bit of a lengthy video on using pinescript to develop your trading strategy. I just basically go over very basic functionality to get you on track if you have an interest in using pinescript for these functions. If you are interested in seeing a little more advanced stuff or seeing how to repurpose pre-existing indicators into strategies, leave a comment and this could be a future tutorial! I have also done a tutorial on using Excel to backtest your Strategy which is available here: Thanks for watching!
AMEX:IWMEducation
by Steversteves
3
$IWM Outlook 05/30 - 06/02 @capgainsgroupAs the S&P 500 and the NASDAQ rally into the green for the year, the Russell 2000 (aka the small cap index) has lagged behind and is barely green at +1.03% YTD for 2023. One of the reasons why this index hasn’t been doing well can be attributed to the index’s 15.18% allocation in the Finance Sector. Failing regional banks such as Silicon Valley Bank ( NASDAQ:SIVB ) and Signature Bank ( OTC:SBNY ) haven’t helped the index much. Investors who would like to play the Russell 2000 should pay attention to the 5 major sectors that makes up 73.23% of AMEX:IWM : Health Care (17.62%), Industrials (16.66%), Financials (15.18%), Information Technology (12.74%), and Consumer Discretionary (11.03%). Technical Analysis: AMEX:IWM recently formed a Death Cross (50 SMA x 200 SMA) on the daily chart in mid April. Although not very clean, there is a support uptrend line dating back to October 2022. Also, it seems like we have a head and shoulders pattern, using the Daily 170.30 level as the neckline. Bulls will want price to reclaim the weekly 178.90 level as a support. I lean bearish on this index. If AMEX:IWM can’t reclaim the two daily gaps above, at 176.74 - 177.42 and 180.53 - 181.28, I expect it to come down and test the yellow uptrend line and potentially break it to the downside in the coming weeks. Upside Targets: 176.74 → 177.42 → 180.71 → 181.28 → 183.76 Extended: 186.91 Downside Targets: 174.09 → 172.33 → 171.41 → 170.30 → 169.32 Extended: 166.81
AMEX:IWMShort
by peterjames_6
Opening (Margin): IWM May 19th/July 21st Double Diagonal... for a 56.60 debit. Comments: Since my previous double diagonal in IWM was such a hoot (See Post Below), re-upping here. Buying the back month 90 delta strikes (both call and put) and selling the front expiry 30 deltas, with the result being a delta neutral setup on fill. As before, I tend to manage each side individually, so keep track of both my global cost basis, as well as side cost basis and break evens. These start out as: Long Put Diagonal Aspect (May 19th 172 short put/July 21st 193 long put): 14.17 cost basis/178.83 break even/21 wide Long Call Diagonal Aspect (May 19th 183 short call/July 21st 135 long call) 42.43 cost basis/177.43 break even/48 wide. As before, I'll look to roll out the short put aspects to the shortest duration 30 delta when the short option reaches 50% max that is at or above my cost basis (in the case of the short call), at or below my cost basis (in the case of the short put), liberally taking profit on sides should that happen.
AMEX:IWM
by NaughtyPines
Using Excel to Backtest your Strategy Hello everyone! This is a tutorial video on how to use Excel to backtest your strategies using technical indicators on Tradingview. This provides the foundations for you to get creative and have the essential tools and knowledge required to begin back-testing your strategies using Excel. There is much more than can be done using Excel for back-testing, so if you are interested in seeing more in-depth functionality for more advanced back-testing methods, let me know below! The essential functions in this video are the conditional functions of Excel. These are the "If" "Then" statements. The code used to identify conditions are: Single condition: =if(condition1,"Result1","Result2") More than One Condition: =if(and(condition1, condition2, condition3, etc.),"Result 1", "Result 2") If you do not have Excel, you can use OpenOffice which is opensource and free to use! As always, let me know your questions and comments below! Safe trades everyone!
AMEX:IWMEducation
by Steversteves
2