Below are highlights from the NDW Morning Update Video for the morning of 09/01

Below are highlights from the NDW Morning Update Video for the morning of 09/01. Access the the video on the NDW Morning Update Video page. 

• It was a mostly negative day for major markets over the last 24 hours (8/31). Crude oil (CL/) was the only name we typically follow to land in the green, picking up ~3% for the day to advance a handful of boxes on its default chart. Most other areas struggled. Gold (GC/) shed just over 1% for the day.
• Despite lagging for the day, gold was actually the best performer in August as it picked up just under 10%. All in all, it was a productive month for many major asset classes as all but the US Dollar landed in the black for the month. Remember, September is historical tough sledding for domestic equities, a point to keep in mind as markets look to push to new highs.
• International equities moved back into first within the broad asset class DALI rankings after briefly falling behind domestic equities during mid/late August. Both groups remain firmly entrenched at the top of the rankings as we open September. The move largely came from the hands of commodities, which managed to claw away signals from domestic representatives. All in all, the rankings continue to point towards a risk-on posture.
• Participation dropped slightly yesterday as (^BPNYSE) reversed back down into a column of O’s to 52%. Said more plainly, just over half the stocks listed on the NYSE trade on a PnF buy signal. While reversals in either direction are worth monitoring, this one seems to be a factor of normal market movement rather than a severe drop-off in upside participation.
• Other chart action was limited yesterday. Eli Lilly (LLY) fell back into a negative trend… although it maintains a high attribute score and its previous trend breaks were largely headfakes. MDT picked up ~5% after its earnings report on Tuesday morning. Keep an eye on RS relationships to see if the name can pick up further attribute points.