The Russell 2000 small cap index (1370.70) is stuck in a rut at a higher plateau. Sort of. The index has gone sideways for seven weeks now. In the meantime, it rose to an all-time high of 1392.71 on December … Continued
Following futures positions of non-commercials are as of January 24, 2017. 10-year note: Yields (cash) rose 14 basis points for the week to 2.48 percent, having risen as high as 2.56 percent intra-day Thursday. Earlier, they bottomed at 2.31 percent … Continued
Over the weekend came news that OPEC and non-OPEC producers had taken 1.5 million barrels per day out of the market. They had earlier agreed to output cut of 1.8 mb/d in the first six months this year. OPEC first … Continued
Small-caps have had weeks-long rest after a big rally. Are they consolidating for another leg higher or in a process of beginning a new downtrend? The Russell 2000 small cap index has gone flat for eight weeks now. This preceded … Continued
Following futures positions of non-commercials are as of January 17, 2017. 10-year note: Bond bears near term have as good a chance as any to push long bonds still lower. TLT, the iShares 20+year Treasury bond ETF, peaked this Tuesday, … Continued
There is a new entrant in the list of things dollar bulls are having to grapple with. It is the Donald. Bulls were already locking horns with overbought technicals and non-commercial futures traders who persistently refused to jump on the … Continued
Two thousand and seventeen has gotten off to a good start. In the first nine sessions of the year, the S&P 500 large cap index is up 1.6 percent. For the most part, the rally is driven by offensive sectors/industries, … Continued
Following futures positions of non-commercials are as of January 10, 2017. 10-year note: This is what makes a market. Two different bond luminaries looking at the same asset and coming up with two different analyses/conclusions. The issue in question is … Continued
Following futures positions of non-commercials are as of January 3, 2017. 10-year note: Tuesday brought December’s ISM manufacturing index, which rose 1.5 points month-over-month to a two-year high 54.7; orders jumped 6.8 points m/m to a 25-month high. Ten-year yields … Continued
In 2016, the so-called January barometer – the hypothesis that the first month sets the tone for the year – failed to deliver. The S&P 500 large cap index lost 5.1 percent last January, and was down 10.1 percent by … Continued