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The video in this report is only accessible to members

US Equity indices and Treasury yields remain quite choppy, but the weakness coinciding with Yields pushing up still looks to extend this week which is one of the more seasonally bearish weeks of the Fall.   Trends and momentum arguably are short-term negative.  Only on a TNX break under 4.05% would it be right to trust an Equity bounce in September, in my view

This week has historically proven to be one of the worst of the year seasonally speaking and Treasury yields remain trading at/near highs for 2023.  While this week’s FOMC meeting, or BOJ could serve to be important catalysts for risk assets,  there hasn’t been sufficient strength in Equities nor Treasuries to weigh in technically that a push back to SPX 4600 is imminent.

While Technology held up fairly well relative to the broader market on Monday, other sectors like Materials, Healthcare, REITS, Consumer Staples, and Consumer Discretionary all fell to multi-day lows. 

Technology, to its credit, proved to be the single positive sector in Monday’s session when viewing the major Equity ETF’s in Equal-weighted terms, and Technology’s Equal-weighted and Cap-weighted ETF’s ($RSPT and $XLK, respectively) both rose to cl...

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