Here is a brief review of period-over-period change in short interest in the September 16-29 period in nine S&P 500 sectors. XLB (SPDR materials ETF) The last time XLB (57.93) had a down month was October last year. Month-to-date, it … Continued
Helped along by massive short squeeze and healthy flows into ETFs, small-caps have broken out to 161.8-percent Fibonacci-extension resistance. Most recently, the Russell 2000 small cap index bottomed on August 18, and has gone on to rally 12-plus-percent since. In … Continued
Following futures positions of non-commercials are as of Oct 3, 2017. 10-year note: Currently net long 232.2k, down 24.5k. December looks like a lock. The odds in the futures market of a 25-basis-point hike in the 12-13th meeting that month … Continued
The spread between the dividend yield of S&P 500 companies and 10-year Treasury yields has gone negative the last four quarters, albeit not by much. This could exacerbate if – big IF – the White House’s proposed tax cuts pass … Continued
There is a new-found spring in U.S. small-caps’ step. What changed all of a sudden? More importantly, are there ingredients in place for the rally to sustain itself? The Russell 2000 small cap index just broke out. It has been … Continued
Following futures positions of non-commercials are as of Sep 26, 2017. 10-year note: Currently net long 256.6k, down 13.5k. The Treasury yield curve widened this week. The spread between 10- and two-year notes went from 78 basis points on Monday … Continued
The financial accounts of the U.S. for 2Q17 was published last Thursday. Better known as the Z.1 report, the massive quarterly publication contains tons of useful data – thus highly recommended. The seven charts below try to highlight where things … Continued
Here is a brief review of period-over-period change in short interest in the September 1-15 period in the Nasdaq and NYSE Group as well as nine S&P 500 sectors. Nasdaq Since reaching an all-time high of 6477.77 in a spinning … Continued
Following futures positions of non-commercials are as of Sep 19, 2017. 10-year note: Currently net long 270.1k, up 18.4k. Americans’ love for leverage needs no elaboration. The debt culture began in earnest in the early ’80s. Leverage remains high – … Continued
It is probably a foregone conclusion that the Fed later today leaves interest rates unchanged, and will announce a plan to gradually shrink its massive portfolio of mortgage and Treasury bonds. The question is, how would the markets react? The … Continued