Following futures positions of non-commercials are as of January 15, 2019. Beginning December 21, the CFTC was not able to publish reports on time due to the partial shutdown of the federal government, which has now reopened. The CFTC expects … Continued
Major US equity indices are facing moving-average as well as Fibonacci resistance. The path of least resistance is down near term, with decent support not too far away. For this to hold, money-market funds hold the key. Since peaking at … Continued
Following futures positions of non-commercials are as of January 8, 2019. Beginning December 21, the CFTC was not able to publish reports on time due to the partial shutdown of the federal government, which has now reopened. On Tuesday, data … Continued
US trade deficit continues its uptrend. Deficit with China in particular is front and center. Trade talks with that nation are ongoing. November’s report, out Wednesday, did nothing to soothe tensions. In general, the monthly trade data put out by … Continued
Following futures positions of non-commercials are as of December 31, 2018. Beginning December 21, the CFTC was not able to publish reports on time due to the partial shutdown of the federal government, which has now reopened. Last Friday, data … Continued
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 last week defended support at 2600-2630 on the S&P 500, which has rallied massively since bottoming on December 26. Daily conditions are deeply overbought, pricing in a dovish Fed. A two-day FOMC meeting begins Tuesday. A ‘buy the rumor, … Continued
US home sales peaked in November 2017, homebuilder sentiment in December 2017, and housing starts in January 2018. From its January 2018 intraday high through December low, ITB collapsed 39 percent. It is trying to bottom, but currently in no-man’s … 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
Corporate bond issuance in December simply collapsed. In that same month, Steven Mnuchin held talks with major US banks to make sure they had ample liquidity. While this does not help shore up investor confidence, other metrics such as the … Continued