In a highly volatile morning, markets reacted to an upside surprise in both PPI and CPI inflation data. Annualized inflation remains at 8.2% in the US and the S&P 500 gapped lower at the open. Despite a magnificent rally back into positive territory by midday, the trend remains a “NoGo.” Alex and Tyler review SPY in weekly, faily and 3-minute time horizons to unpack how trend conditions are reflected on multiple perspectives. Reviewing the sharp selloff in the US Dollar index today, $UUP remains in an upward “Go” trend. Similarly, in $TNX, US treasury yields continue to climb higher. Alex and Tyler review $DBA, a diversified agricultural commodities ETF, along multiple timeframes as well to better understand what could be a larger secular move in the commodities market.
Tune in to the Wealth365 Summit tomorrow, Friday Oct 14 at 2pm for an educational presentation from Alex and Tyler on how to “Clean up your charts!” - www.wealth365.com/gonogo
00:00 - Intro
00:49 - S&P 500
09:45 - GoNoGo Cross Asset Heat Map
11:23 - 10-year Treasury Yield ($TNX)
13:05 - US Dollar (UUP)
16:54 - US Oil (USO)
18:20 - Invesco DB Agriculture Fund (DBA)
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