Unlike a consistent Steady-Eddie CSCO of the past, the company’s quarterly results of late have been a hit-and-miss. In the U.S., business capex is lackluster but steady. In November last year, CSCO spooked investors with a downbeat outlook. In February … Continued
There are some interesting things happening in e-mini S&P 500 futures. First, non-commercials are now net short 121k contracts, nearly double from two weeks ago. In the intervening period, the S&P 500 index has managed to inch up, having backed … Continued
The S&P 500 acts well. Since it found support at its 150-day moving average early February, it has appreciated 12 percent – that is in four months. In the process, it now has carved out support levels at 1900, 1885 … Continued
Breakouts are galore in U.S. equities. Of the three major indices, the S&P 500 and the Dow Industrials have managed to push into record territory. The Nasdaq is a laggard – yet to get past early-March highs. Ditto with the … Continued
AAPL as a stock is back in the game. From its $677 mid-September 2012 all-time high to the mid-April 2013 low of $374 to last week’s high of $644, it has nearly done a round trip. Recent sell-side commentary has … Continued
The euro experienced a rather sharp downward move in May. In the currency world, the two-and-a-half-percent decline (from early in the month until the trough two sessions ago) in a span of 15 sessions is big. When FXE began to … Continued
Nasdaq stocks are attracting some bids. As has been the case for so long, volume continues to remain uninspiring, but price action overrides all. For now. The index has managed to trade north of its 50-day moving average, and has … Continued
Non-commercial futures traders’ bet in recent weeks on a declining VIX was spot-on. Toward the middle of March, these large speculators were net short a mere 1k contracts. VIX (spot) was around 15 at the time. Technically, there was room … Continued
As 2014 began, growth expectations were very high for the U.S. economy. In fact, every year since the recession ended mid-2009, economists’ GDP forecasts have been on the optimistic side, only to be progressively cut back as the year progresses. … Continued
Unlike in the past when equities have shown a strong correlation with each other, increasingly they are marching to the tunes of different drummers. Consider the DJI. It has flat-lined for five months now, and it feels like it is … Continued