NYSE margin debt goes sideways in May; 2H Nasdaq ramifications

posted in: Economy, Equities, Technicals | 0

In many ways, this cycle has been like none other.  Equities continue to grind higher.  Multiples (valuation) continue to expand.  The Fed continues to provide support – both monetary and verbal.  Equity bulls continue to throw the caution flag out … Continued

Non-commercial futures traders yet to get behind ongoing six-week rally in RUT

posted in: Derivatives, Technicals | 0

One of the divergences we have witnessed in recent weeks/months is weak action in small-caps.  The Russell 2000 Small Cap Index peaked early March, then suffered a nine-week, 11-percent decline, followed by a rally beginning mid-May.  The index still trades … Continued

XLY’s near-term direction probably down in midst of energy uncertainty

Crude oil is on the move.  Since early April to last week’s high, the Brent has gone up by over 11 percent.  The West Texas Intermediate found a trough much earlier – early this year – and until the high … Continued