Following futures positions of non-commercials are as of December 24, 2018. The below is from the CFTC site. “The last COT report was published on December 21, 2018. Reports going forward from that date will be published in chronological order … Continued
Bulls continue to defend 2600-2630 on the S&P 500. Breach risks are rising. VIX, which since October has stayed rather elevated, is itching to rally. After a three-month, 20-percent drop, the S&P 500 large cap index (2640) bottomed intraday on … Continued
Gold has had a nice rally since early October, and is extended on both daily and weekly charts. It is also at dual resistance. Near term, recent longs can get tempted to lock in profit. Spot gold ($1,288.40/ounce) looks tired. … Continued
Since the intraday low on Boxing Day, SPY is up nearly 11 percent. Too far, too fast? Possibly, as the ETF is just a hair breadth away from support-turned-resistance at 260, which it lost mid-December. The Fed has a dual … Continued
The CFTC has not updated the CoT report the past three weeks due to the partial shutdown of the federal government. The publication will resume as government operations return to normal. Thanks for understanding!
Fundamentals are still a suspect, but US stocks were treated with soothing comments from Fed chief last week. Bulls have the ball, but bears are likely to show up at $260 on SPY. Speaking at the American Economic Association’s annual … Continued
Volatility has picked up in US stocks. This is a perfect environment for traders who are nimble enough and ready to take ones and twos, quickly locking in what markets give them. It is increasingly becoming clear why stocks began … Continued
It is probably not coincidental that US stocks and Treasury yields peaked together early October. The 10-year rate is right near support and has room to rally near term. This should bode well for equity bulls who last week put … Continued
From early October, the S&P 500 is down 18 percent. Important support lies at 2400, or just underneath. Several indicators are at/near panic levels. Risk-reward odds favor unwinding of these conditions sooner than later. There is blood on the Street. … Continued
Following futures positions of non-commercials are as of December 18, 2018. 10-year note: Currently net short 380.8k, down 13k. With pressure growing from diverse quarters, including the White House, to stay pat in this week’s meeting, the Fed went ahead … Continued