Situation Awareness: Correction. Futures are attempting a bounce off Monday’s sizable losses (S&P 500 futures +16 @ 7,763, Nasdaq +116 @ 30,682, Dow +118 @ 51,955) as crude eases and Treasury yields back off multi-year highs — but this is a relief rally inside a damaged tape, not a trend change. SPY/QQQ/IWM cash levels are unavailable in today’s feed, so lean on futures and breadth rather than precise index levels. Trade mode: selective and defensive — let the open prove itself before committing. The dominant force remains the rate/oil tug-of-war: the 10-yr sits at 5.21% (down 4 bps overnight but still near 2007 highs) and WTI near $91.56 after Middle East export flows hit a post-war peak. Regime context — 19.29% of stocks trade above their 40-day SMA, and the 4% Bull/Bear gauge shows 5 bulls vs. 3 bears in early reads. The 5-day trend shows persistent deterioration — a sizable Monday drop capping a September of narrow, mega-cap-only leadership, confirming downward momentum despite today’s green futures.
SIP: KMX MDB AGEN POR
- What’s working: scans are dry — zero Continuation/2LYNCH, zero Delayed 9M, and a single Reversal signal (RKLB). Thin signal breadth argues for patience, not aggression.
- Leading sectors: live sector performance and ATR data are unavailable (market closed / empty feed). From Monday’s tape, defensives led — consumer staples (+0.4%) and health care (+0.3%) held up while communication services (-1.7%) and consumer discretionary (-1.6%) lagged.
- Key event: 10:00 AM ET September Consumer Confidence (consensus 90.0) and August JOLTS (consensus 7.150M) — the first real data test of the week ahead of ISM Thursday and payrolls Friday.
- Market read: Monday couldn’t hold its midday oil-reversal rebound; selling was broad across cyclicals, mega-caps and semis. That failure to sustain a bounce keeps the burden of proof on the bulls today.
- DEP watchlist: no Delayed 9M signals fired today.
- SIPS: no Continuation candidates today — RKLB (Reversal, $73.22) is the lone system setup.