Since the euro peaked in March last year, it has consistently been a loser’s game to try to pick a bottom. For the umpteenth of time, the currency — and FXE, the euro ETF — has looked like it was … Continued
Despite a down day in stocks in general, financials had a lot of oomph yesterday. KBE continues to hug the upper end of the one-plus-year range it is in (Chart 1), as if the ETF wants to break through resistance. … Continued
GE stages massive breakout Friday on back of massive buyback announcement S&P 500 companies splurged $565 billion on share repurchases in 2014 As/when buybacks dry up, support zones become more vulnerable Before last week, GE shares had been on a … Continued
The following are futures positions of non-commercials as of April 7, 2015. Change is week-over-week. 10-year note: Interesting times, indeed! Mexico this week issued a 100-year bond denominated in euros. This is not the first time that nation has tapped … Continued
SMH, the semiconductor ETF, has been range-bound since last September. Looking at a weekly chart (the one below is daily), the path of least resistance seems down in the medium-term. Bears had a great opportunity seven sessions ago to push … Continued
Dollar has benefited from growth/interest rate differential among countries Recent spurt of weak U.S. data has pushed back rate-hike expectations to late 15 Dollar index retreats after approaching crucial Fib retracement; other levels to watch In 2014, the U.S. economy … Continued
The following are futures positions of non-commercials as of March 31, 2015. Change is week-over-week. 10-year note: At some point, the streak had to end. For 12 months to February, U.S. non-farm payroll grew 200k-plus month-over-month. Consensus was for that … Continued
SMH’s latest rally attempt gets rejected at underside of broken Oct 2014 trendline Past 3 months, some semi outfits have seen estimates revised up, some down ETF has retraced 61.8% of Mar 00-Nov 08 decline; may mean pause/stop In the … Continued
The following are futures positions of non-commercials as of March 24, 2015. Change is week-over-week. 10-year note: After what these traders heard out of the FOMC last week, they decided to step on the accelerator. Net shorts went up 67 … Continued
Semi rout after months of decline in orders for business capX proxy From INTC to TSM to SNDK, semi heavyweights pointing out biz slowdown SMH shorts stand no chance until longs are bothered by worsening earnings scene It is not … Continued