The following are futures positions of non-commercials as of April 28, 2015. Change is week-over-week. 10-year note: The week was a head-scratcher from the standpoint of bond vigilantes’ reaction. The 10-year yield rallied hard on a very weak 1Q15 GDP … Continued
Apple, Inc.’s (AAPL) March quarter was a blowout – gross margin of 40.8 percent, along with 61.2 million iPhone units sold (135 million in six months), among others. It also increased buybacks to $200 billion from now through 2017. The … Continued
The following are futures positions of non-commercials as of April 21, 2015. Change is week-over-week. 10-year note: Are bond vigilantes expecting a hawkish tone from the FOMC next week? The latter meets on 28-29. For the most part, macro data … Continued
XLE ($82.22), the energy ETF, seems to want to go lower near-term. Since the mid-January low of $71.22, it has carved out a pattern of higher lows, and higher highs, hence now finds itself in a slightly upward sloping channel. … Continued
The following are futures positions of non-commercials as of April 14, 2015. Change is week-over-week. 10-year note: The 10-year yield fell in all five sessions. Friday could have been different as March core CPI was initially treated as hawkish, but … Continued
Since the euro peaked in March last year, it has consistently been a loser’s game to try to pick a bottom. For the umpteenth of time, the currency — and FXE, the euro ETF — has looked like it was … Continued
The following are futures positions of non-commercials as of April 7, 2015. Change is week-over-week. 10-year note: Interesting times, indeed! Mexico this week issued a 100-year bond denominated in euros. This is not the first time that nation has tapped … Continued
Both bulls and bears holding on to turf; S&P 500 remains range-bound VIX:VXV pokes head out of oversold zone but unable to make further progress Volatility of volatility jumped to highest four months ago; in no-man’s land currently Bulls and … Continued
SMH, the semiconductor ETF, has been range-bound since last September. Looking at a weekly chart (the one below is daily), the path of least resistance seems down in the medium-term. Bears had a great opportunity seven sessions ago to push … Continued
Dollar has benefited from growth/interest rate differential among countries Recent spurt of weak U.S. data has pushed back rate-hike expectations to late 15 Dollar index retreats after approaching crucial Fib retracement; other levels to watch In 2014, the U.S. economy … Continued