US Dollar - $DXY $USD Big Picture

Caterpillar - $CAT Leading indicator for global economic growth, commodity and mining cycles. 🥸

Bonds - $TLT Ripping higher today. 📈

Gold / S&P 500 Big Picture at an interesting juncture. 🍿

China Tech - $CQQQ Tech selloff in China appears to be picking up steam.

Discretionary / Staples - $XLY $XLP This ratio continues to be stuck in reverse. If you are bullish, be cautious.

Performance YTD Commodities continues to hold the top spot. $PDBC

RATIO: Bear + Money Market Assets / Bull Assets Here is an inverted chart to show just how bullish the dumb money is compared to 2009-2011 levels. The complacency picture has flip flopped. Anyone's guess if this 5% level can go any lower, but it is getting very stretched.

Offense vs Defense - $SPY $QQQ The past 7 days clearly show defense. Momentum has begun to roll over on 5 different relative viewpoints. Negative divergences abound.

YTD Performance Energy and Commodities are on top by a wide margin. $XLE $PDBC

S&P 500 - $SPY Updated chart... be careful out there... 👇

Mag 7 - $MAGS A bearish wedge inside a bearish wedge with 2 years of negative divergence.

Commodities - $PDBC The volume is still well below what we saw in 2022. That continues to suggest this move still has a ways before it matures.

China Tech - $CQQQ Down 28%+ since June 30.