Thread by @tdarling1

Global macro review 09/26/21

1/10

What a week!
$VIX 🚀 to 28.79 on ever grand 😱 only to ↘️ into FOMC, closing 17.75 ↘️

$RVX 24.61 -6.9%
$VXN - 20.93 -6.02%
$VXEEM 23.93 +23.93 👁‍🗨

Chart: $VIX put in a new high only to crash -38% leaving Monday put buyers with a 💼 of 🐝🐝

2/10

Despite (or maybe because of) the volatility, US equities closed higher on the week

$SPX +0.51% (w) -1.2% (t) +4.08% (T) ♉️
$COMPQ +0.02% (w) -0.54% (t) +4.79% (T) ♉️
$IWM +0.26% (w) -1.48% (t) -3.97% (T) 🐻

Chart: $SPX ↘️ 5.3% before retracing +3.5% off the Monday low

3/10

Energy and financials led US sectors ↗️
$XLE +3.2%
$XLF +1.7%
$XLK +0.79%

REITs, utes, and staples lagged
$XLRE -2.01%
$XLU -1.90%
$XLP -1.04%

Chart: XLE forming a base off July 19 and Aug 19 lows, ♉️ trade +3.2% but still 🐻 Trend -8.0%.

4/10

Asian equities ↘️
$HSI -2.9% (w) -17.41% (T) 🐻
$KOSPI -0.49% (w) -5.38% (T) 🐻
$SSEC -0.02% (w) +0.15% (T)
$NIKK -0.82% (w) + 4.07% (T) ♉️

Europe ↗️
$CAC +1.04% (w) +0.24% (T)
$DAX +0.27% (w) -0.49% (T)

Chart: $EEM now 🐻 (t) -1.48% and (T) -3.97%

4a/10

$SSEC failed at 3723, roll from here?

5/10

Metals were ↗️ on the week

$GOLD 1752 +0.02% (w) -1.47% (T) 🐻
$SILVER 22.43 +0.4% (w) -14.03% (T) 🐻
$PLAT 980 +8.44% (w) -11.21% (T) 🐻
$COPPER 4.29 +0.94% (w) 0% (T)

$GVZ 16.44 🔺

Chart: $DBB industrial metals +1.33% (w) +6.63% (T)

6/10

Hydrocarbons were a bright 💹 spot in your portfolio

$WTIC 73.98 +3.0% (w) -0.09% (T)
$BRENT +3.5% (w) +2.74% (T)
$GASO +0.94% (w) -5.31% (T)
$NATGAS +1.76% (w) +47.73% (T) ♉️♉️♉️

$OVX 34.01 🔺

Chart: $DBC+2.05% (w) and +3.75% (T) +4.9% (T) ♉️

7/10

Grains ↔️ on the week, and all 🐻 trade but ♉️ Trend

$WHEAT 724 +2.12%
$CORN 527 -0.1%
$SOYB 1285 +0.1%
$SUGAR 19.1 +1.08%

Chart: $DBA +1.08% (w) -2.7% (t) +5.44% (T)

8/10

The USD +0.16% bears watching as it is now +1.62% over 3 months

$USD 93.33 +0.16%
$GBP 1.367 -0.36%
$EUR 1.172 -0.04%
$AUD .726 unch
$CHF 1.082 +0.86%
$CAD .7901 +0.88%
$JPY .903 -0.69%

Chart: $USD putting in a series of higher highs and higher lows 👀

9/10

$TNX 1.46 +6.57% broke thru resistance this week.
10/2s to 118.1 BPS +3.87% - the highest level since week ended July 2.

MOVE 58.46 🔺

Bond ETFs are mostly neutral trade and trend right now, ↘️ from bullish

Chart: $TNX ↗️

10/10

As we end Q3, we are in a regime shift of sorts

GOLD + TLT ↘️
WTIC + COPPER ↗️ towards ♉️ trend
USD making higher lows
SPX remains ♉️ Trend but 🐻 trade
Europe no longer ♉️ but NIKK ↗️

You tell me. I see a lot of chop 🌊

Trade wisely - have a super profitable 💰week!

Addendum

These are highlights from my weekly 📓

If you find them valuable, please ❤️ and retweet 🙏

$UST5Y to .95% - belly of the curve breaking higher, even as the long bond lags the 5 and 10Y