Nasdaq shorts, with record short interest, are positioning themselves for a breakdown in the index, or the highly concentrated Nasdaq 100. Breakdown in tech is sure to adversely impact the S&P 500, the other large cap index. Last week, the … Continued
Following futures positions of non-commercials are as of Feb 24, 2026. 10-year note: Currently net short 774k, down 103.8k. ISM manufacturing activity in January entered expansion territory for the first time in 11 months. The job market could be stronger, … Continued
Margin debt hit a new high in January, up $150 billion over four months. Large-cap indices, however, have gone sideways since late October; this is also the case with small caps, but only since early January. Margin debt set a … Continued
Following futures positions of non-commercials are as of Feb 17, 2026. 10-year note: Currently net short 877.9k, up 64.8k. On Friday, the day the Supreme Court struck down President Donald Trump’s blanket tariffs in a 6-3 vote, the 10-year treasury … Continued
Equity traders have adopted a defensive posture since early November, even as large-cap equity indices went on to post newer highs. The likes of the S&P 500 are now catching up to it. The ratio of XLY (SPDR Consumer Discretionary … Continued
Following futures positions of non-commercials are as of Feb 10, 2026. 10-year note: Currently net short 813k, up 83.6k. Minutes of the January 27-28 FOMC meeting will be out Wednesday. The fed funds rate was left unchanged at that meeting … Continued
Following a vertical two-year run, gold just had a very volatile couple of weeks. Bulls failed to hang on to a fresh high $5,608 posted on 29 January, even as bears pushed it all the way down to $4,405 on … Continued
Following futures positions of non-commercials are as of Feb 3, 2026. 10-year note: Currently net short 729.4k, up 3.3k. There is a lot of talk around the nominee to replace Chair Jerome Powell regarding the balance sheet of the Federal … Continued
Following futures positions of non-commercials are as of Jan 27, 2026. 10-year note: Currently net short 726.2k, up 70.5k. As expected, the fed funds rate was left unchanged at this week’s FOMC meeting at a range of 350 basis points … Continued
Four of the Magnificent 7 report this week and carry potential to sway large-cap indices that are weighted by market cap. It is also possible these results will hurt or help small-caps in a roundabout way. The December-quarter earnings season … Continued