Following futures positions of non-commercials are as of July 30, 2024. 10-year note: Currently net short 728.5k, up 86.5k. July’s jobs report was weaker than expected, with a gain of 114,000 non-farm jobs and the unemployment rate jumping to 4.3 … Continued
The Nasdaq 100 is down three weeks in a row, even as the Russell 2000 is up three weeks in a row. Amidst this, the ratio between the two is approaching a crucial retest. A failed retest will mean the … Continued
Following futures positions of non-commercials are as of July 23, 2024. 10-year note: Currently net short 641.9k, up 4.4k. The FOMC meets next week. This will be the fifth meeting this year, and three more remain. It is certain the … Continued
The Russell 2000’s 250-point surge over six sessions took many by surprise, not the least of which are those who were on the shorting side. This also comes at a time of probable economic deceleration ahead and a question mark … Continued
Following futures positions of non-commercials are as of July 16, 2024. 10-year note: Currently net short 637.5k, up 219.6k. Non-commercials showed aggression in raising net shorts in 10-year-note futures to a 19-week high. In the week to January 16th, they … Continued
Since last October’s bottom, tech has led. How it behaves in the weeks and months ahead will reverberate through the stock market. This week’s downward pressure is coming in the backdrop of exuberant sentiment. After several weeks of giving out … Continued
Small-caps have awoken from their slumber. The Russell 2000 is up 6.6 percent in the last three sessions, with a breakout at 2100. Long a laggard versus large-caps, particularly tech, small-caps’ latest outperformance is raising questions as to if this … Continued
Following futures positions of non-commercials are as of July 9, 2024. 10-year note: Currently net short 417.9k, up 72.5k. Futures traders this week jacked up their rate-cutting bets for this year. They now expect, with 90 percent probability, the first … Continued
After June’s CPI Thursday, markets are heavily betting a September rate cut is all but certain. For equity bulls, who have rallied the indices massively on the back of ‘a rate cut is coming,’ this could very well mark a … Continued
Large-cap bulls are on the rampage. Sell-side analysts are egging them on, as they continue to lower June-quarter earnings estimates for S&P 500 companies. Some sentiment readings look dangerously elevated. Equity bulls are not taking a break. They have been … Continued