Friday Paper Charts

October 4, 2023

Friday is finally here. It has been another rollercoaster week. As I opined in midweek’s Model Signal Alert, the recent large market swings have been well anticipated by the momentum signal. I also pointed out that any recent performance measurement of those signals would have given me unease regarding the follow-through potential. As such, the “feel” for the market would urge me to reduce position sizes a bit or bank profits entirely. That’s, I guess, the magic in any discretionary process; some of it is just a gut feeling, and there is nothing wrong with that.

Thursday has brought another sigh of relief across markets, similar to a week ago. The bounce in US long-end rates from the dreaded 5%-handle seems to have eased some nerves for now. Payrolls, of course, are still coming up with a long US weekend ahead and more bond supply coming our way next week in addition to CPI.

We clearly have a lot of moving parts, so let’s get straight to the vast amount of charts which are on display for you today. I stopped counting, but I wouldn’t be surprised that we are close to hitting 100 charts now. Okay, there are 104 on display today; I couldn’t help myself and counted them. We are looking at Equity Indices, US Sectors, US single socks, Rates, Curves, FX, Commodities and Crypto.