Following futures positions of non-commercials are as of February 21, 2017. 10-year note: Are we in for a March shock? Post-FOMC minutes on Wednesday, fed funds futures were pricing in a 32-percent chance of a rate hike in the March … Continued
Say what you want, equity bulls deserve kudos! There is an unprecedented bid under the market particularly since the election (November 8) last year. The S&P 500 large cap index has nearly rallied 11 percent since! The rubber band keeps … Continued
Ten and counting. That is the number of weeks spot West Texas Intermediate crude ($53.78) has now gone flat. Oil bulls hope this is consolidation before another leg higher. Since oil bottomed at $26.05 on February 11 last year, it … Continued
Following futures positions of non-commercials are as of February 14, 2017. 10-year note: On February 15, 10-year yields hit 2.52 percent before retreating. That high tagged a declining trend line from December 15 when yields hit 2.62 percent intraday. This … Continued
Following futures positions of non-commercials are as of February 7, 2017. 10-year note: On January 26, 10-year yields began dropping after hitting 2.56 percent, lower than the 2.62 percent on December 15 – hence lower highs. In the meantime, they … Continued
Here is a brief review of period-over-period change in short interest in the January 17-31 period in the Nasdaq and NYSE Group as well as nine S&P 500 sectors. Nasdaq – short interest ↑ 0.9% p/p; Nasdaq composite ↑ 0.7% … Continued
Financials are once again beginning to perk up, with XLF, the SPDR financial ETF, closing last Friday right underneath near-term resistance. The ETF has been sideways for nearly a month. This followed a massive breakout post-election last year. Resistance at … Continued
Following futures positions of non-commercials are as of January 31, 2017. 10-year note: During his presidential campaign, President Donald Trump openly criticized the Fed’s easy monetary policy. Indeed, since June 2006, there have only been two 25-basis-point increases in the … Continued
The Russell 2000 small cap index (1370.70) is stuck in a rut at a higher plateau. Sort of. The index has gone sideways for seven weeks now. In the meantime, it rose to an all-time high of 1392.71 on December … Continued
Following futures positions of non-commercials are as of January 24, 2017. 10-year note: Yields (cash) rose 14 basis points for the week to 2.48 percent, having risen as high as 2.56 percent intra-day Thursday. Earlier, they bottomed at 2.31 percent … Continued