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📈 MainSpring ETFs - The Morning Spring
8.23.2024 | Daily ETF Market Springboard
Addison
August 23, 2024 • Estimated Reading Time: 9 minutes
Happy Friday, August 23rd, 2024
Data reflects end-of-day ETF market data for Thursday, August 22nd, 2024
Upcoming Economic Events:
🗓️ Big week ahead: Market Watch Economic Calendar
📅 Monday, Aug 19, Fed Governor Christopher Waller welcoming remarks &U.S. leading economic indicators for July
Previously: 0.2% | Median forecast: -0.4%
📅 Tuesday, Aug 20, Atlanta Fed President Raphael Bostic speech & Fed Vice Chair for Supervision Michael Barr speech
📅 Wednesday, Aug 21, Minutes of Fed's July FOMC meeting
📅 Thursday, Aug 22: Initial jobless claims, S&P flash U.S. services/manufacturing PMI & Existing home sales
📅 Friday, Aug 23, Fed Chair Jerome Powell's speech at Jackson Hole retreat & New home sales
What’s happening in the markets?
Today is the day! Today we have Jerome Powell’s infamous Jackson Hole speech. As your daily ETF correspondent, I was unable to attend in person, nonetheless here’s the rundown:
In the past JPowell has taken this opportunity to bring the market’s exuberance back to reality. With all major indices nearing all-time highs, once again, and inflation cooling, we will see how sanguine Powell is.
Everyone is expecting more dovish Powell, but... two years ago, the Fed chair surprised the market by delivering a hawkish speech that sent the S&P 500 tumbling 3.4%, while 10-year yields swung by 8bps intraday.
— zerohedge (@zerohedge)
11:57 AM • Aug 23, 2024
After this speech, historically, market volatility spikes. Yesdetdays market close, leading up to today left the VIX up nearly ~15%, while all major indices were down.
A look back at prior Jackson Hole speeches shows a mix of reactions by the market over the week that follows, ranging from rallies to drawdowns. Today I suspect Powell will try to walk back the market's expectations of an aggressive cutting cycle, echoing Harker and Collins… x.com/i/web/status/1…
— Markets & Mayhem (@Mayhem4Markets)
11:57 AM • Aug 23, 2024
Well, this is something….
For those fetishizing Jackson Hole right now as some kind of signal to buy equities, I've marked the past few Powell speeches there with these vertical lines.
— Slope of Hope (@SlopeOfHope)
2:50 PM • Aug 20, 2024
ETF Market Snapshot:
Global ETF Market Overview:
Global ETF AuM Data as of Yesterday $13.08T -0.21% since 8/21 | Flows in ETFs Year-to-date +$784.62B +.78% since 8/21 | Number of ETFs Worldwide 10990 +0.02% since 8/21 |
ETF (>$1B) Market Advancers / Decliners:
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📈 Best Performing ETFs, last trading period:
📉 Worst Performing ETFs, last trading period:
Top Leveraged ETF Performers, last trading period:
Top and bottom ETFs of the week
💪 Best performance, rolling 1-week returns:
💀 Worst performance, rolling 1-week returns:
➡️ Most inflows, rolling 1 week flow data:
⬅️ Most Outflows, rolling 1 week flow data:
Latest ETF Launches:
QDVO : Amplify CWP Growth & Income ETF
launched yesterday
SMCX : Defiance Daily Target 2x Long SMCI ETF
launched 8/21/2024
AVGX : Defiance Daily Target 2x Long AVGO ETF
launched 8/21/2024
SMST : Defiance Daily Target 1.5X Short MSTR ETF
launched 8/21/2024
TSMY : YieldMax TSM Option Income Strategy ETF
launched 8/21/2024
New ETF Trading Tool: alphaAI
Check out this ETF Trading product that has my attention, It’s called alphaAi, think of this as your risk-adjusted robo advisor. Its job is to capture high upside using machine learning algorithmic trading strategies while protecting the downside. The best part is alphaAI automatically rebalances to reduce risk, and auto-invests uninvested cash into the highest-yielding money markets.
During the 2022 drawdown, alphaAI’s trading strategy was able to react and rebalance enough to out preform competing robo advisors, and even SPY
2023 was a great year in the market, but with alphaAI it was an exceptional year.
AlphaAI is in beta, but if you want early access, click the link below!
Have a great weekend!
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Life is rich,
- Addison
DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions. Please be careful and do your own research.
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