The Russell 2000 rallied huge the last seven sessions, as post-Pfizer news in particular investors have rerated value versus growth. With this, next year’s earnings estimates are front and center. Small-cap stocks have delivered big gains for investors November-to-date. With … Continued
US equities surged last week pricing in a divided government – a Democrat in the White House, Republicans in control of the Senate and Democrats of the House of Representatives. Major indices rallied right into important resistance. The focus now … Continued
Following futures positions of non-commercials are as of November 3, 2020. 10-year note: Currently net short 5.7k, up 21.9k. No sooner did the 10-year Treasury yield (0.82 percent) recapture the 200-day than it was lost and then gained back again. … Continued
Following futures positions of non-commercials are as of October 27, 2020. 10-year note: Currently net long 16.2k, down 6.8k. The FOMC meets next week. After this, only one meeting remains this year, slated for December 15-16. It will be interesting … Continued
September was a down month, but it turns out the selloff was used as an opportunity to buy. Use of leverage grew last month. This was then followed this month by improved price action in small-caps, which investors tend to … Continued
Following futures positions of non-commercials are as of October 20, 2020. 10-year note: Currently net long 23k, down 52.3k. Treasury yields are rallying. The 10-year (0.84 percent) Friday unsuccessfully tested its 200-day moving average, even as the 30-year (1.65 percent) … Continued
US housing is going gangbusters. Sales are very strong. Builder optimism is at a record. Starts have recovered strongly. Amidst all this, ITB, having risen to a new high this month, is running into massive resistance. Housing activity has picked … Continued
Following futures positions of non-commercials are as of October 13, 2020. 10-year note: Currently net long 75.3k, up 5.7k. After taking a one-month pause through early July, the Federal Reserve once again is accumulating assets. In the week to Wednesday, … Continued
Stocks increasingly are beginning to price in a possible democratic sweep on November 3. Both small- and large-caps staged important technical breakouts last week. They are liking the prospect of more stimulus, that is rising budget deficit. If this scenario … Continued
Following futures positions of non-commercials are as of October 6, 2020. 10-year note: Currently net long 69.5k, down 59.1k. The 30-year Treasury yield (1.57 percent) this week broke through its 200-day moving average (1.55 percent), having taken out the 50-day … Continued