Following futures positions of non-commercials are as of October 29, 2019. 10-year note: Currently net short 116.1k, up 31.7k. As expected, the FOMC delivered a 25-basis-point cut in the fed funds rate this week. This was a third straight cut … Continued
The S&P 500 broke out to a new high Monday. Building on it can prove difficult – at least near term – as sentiment is rather elevated, even as the daily is in overbought territory. The S&P 500 large cap … Continued
The S&P 500 is itching to make a new high. The Nasdaq 100 achieved that feat last Friday. Lowered earnings estimates for the third quarter went a long way, among others. Bulls have momentum right now. Medium- to long-term, massive … Continued
Following futures positions of non-commercials are as of October 22, 2019. 10-year note: Currently net short 84.4k, down 15.3k. Next week, the FOMC meets. Wednesday, the Fed is expected to ease. Futures traders are betting with a 93.5-percent probability that … Continued
Medium- to long-term, both margin debt and foreigners’ purchases of US stocks need to cooperate for the S&P 500 to rally to a new high. Near term, the daily is itching to go lower. Bulls Tuesday were denied at trend-line … Continued
Amid continued signs of macro deceleration, next year’s estimates for small-caps continue higher. The Russell 2000 index, however, is not quite buying this optimism. Last week, it led its large-cap peers, but remains under crucial resistance. Should small-caps come under … Continued
Following futures positions of non-commercials are as of October 15, 2019. 10-year note: Currently net short 99.7k, down 22.9k. Most US economic data out this week continued to point to sluggish activity. Retail sales in September fell 0.25 percent month-over-month … Continued
Foreigners opted not to take advantage of the selloff in US stocks in August. The S&P 500 large cap index dropped 1.8 percent in the month. As a matter of fact, it was down as much as 5.3 percent at … Continued
With spring in their step, tech bulls Tuesday rallied the Nasdaq 100 to trend-line resistance from the all-time high set in July. A new high has the potential to squeeze shorts. Nasdaq short interest is at a four-year high. There … Continued
Major US equity indices are within striking distance of July highs. Sentiment took a small hit in recent weeks and has room to rise. How markets react to lowered 3Q19 earnings estimates will decide if bulls will be able to … Continued