From the Desk of Ian Culley @IanCulley

Searching for trending markets?

Look no further than US treasury bonds!

Bonds across the curve are skidding to fresh contract lows as interest rates have a one-track mind…

Higher!

Check out the US 10-year yield posting fresh sixteen-year highs:

Not to be outdone, the 2-year yield just registered its highest level in seventeen years.

Interest rates across the curve are breaking to decade-plus highs in what has become a foot race.

It’s clear that the rising rate environment remains alive and well. An inverted yield curve keeps score, reminding us that shorter-duration yields are winning. 

But I honestly don’t care what area of the curve is leading. 

From the Desk of Kimmy Sokoloff

$SPY dropped to the zone I was looking for.

Now we'll see if we have a bounce attempt.

We've adjusted a position in the Paid-to-Play portfolio today:

From the Desk of Steve Strazza and Alfonso Depablos

The largest insider buy on today’s list comes in a Form 4 filing by Berkshire Hills Bancorp Inc $BHLB director Mary Anne Callahan.

Callahan reported a purchase of $357,319 in BHLB.

From the Desk of Kimmy Sokoloff

Yesterday morning I mentioned that we could see either $SPY drop to the 435-to-437 zone or it bounce up to 447.

We're at 435 this morning.

We'll see if we have some oversold bounces.

The US Stock Market is mostly one big fat mess, as is perfectly normal for this time of the year.

So no surprise there.

You can catch up on our reasoning in this short post.

But the bottom line is that we're now well into month #3 of this correction, since the new 52-week highs list peaked back in July.

The fact that markets are a mess is not a big deal. The bigger question is more about how long it will take to resolve, and which stocks are holding up the best during this seasonally weak period.

We discussed some really interesting setups during our LIVE Conference Call this week.

But today I want to focus on a space that is acting way better than the rest of its peers: Cyber Security.

While Tech stocks have generally been struggling since mid-summer, take a look at Palo Alto hanging in there just fine:

From the Desk of Steve Strazza @Sstrazza

When investing in the stock market, we always want to approach it as "a market of stocks."

Regardless of the environment, there are always stocks showing leadership and trending higher.

We may have to look harder to identify them depending on current market conditions. But there are always stocks that are going up.

The same can be said for weak stocks. Regardless of the environment, there are always stocks that are going down, too. 

We already have multiple scans focusing on stocks making all-time highs, such as Hall of Famers, Minor Leaguers, and the 2 to 100 Club.

We filter these universes for stocks that are exhibiting the best momentum and relative strength characteristics. 

Clearly, we spend a lot of time identifying and writing about leading stocks every week, via multiple reports.

Now, we're also highlighting lagging stocks on a recurring basis.

Welcome to the Short Report.

From the Desk of Kimmy Sokoloff

It was a Fed day, not much more to say.

It was very volatile, and tomorrow we should get more of a true direction.

The next new position in our Paid-to-Play portfolio is:

From the Desk of Steve Strazza and Alfonso Depablos

The largest insider buy on today’s list comes in a Form 4 filing by Cormorant Asset Management LP.

The hedge fund reported a purchase of roughly $19.6 million in Ambrx Biopharma Inc $AMAM.

From the Desk of Kimmy Sokoloff

FOMC on deck!

Now we'll either see a quick pop up to 447.70 on $SPY or a drop down to 437 to 435.

Pre-market indices are trading higher.