Following futures positions of non-commercials are as of September 21, 2021. 10-year note: Currently net long 61.2k, down 68.2k. Markets took this week’s FOMC meeting well. Stocks recovered after heavy losses in the first two sessions. Bonds sold off, with … Continued
Amid interesting developments relating to a couple of dividend metrics, the S&P 500 quickly shed 5.3 percent from high to low this month and is just underneath crucial support-turned resistance. The S&P 500 quickly shed 5.3 percent in 12 sessions, … Continued
Major US equity indices declined for the second week in a row. The S&P 500 breached the 50-day last week, albeit slightly. Interestingly, both VIX and small-caps diverged. This is taking place at a time when the FOMC is meeting … Continued
Following futures positions of non-commercials are as of September 14, 2021. 10-year note: Currently net long 129.4k, up 128.6k. The FOMC meets next week. This will be the 6th scheduled meeting this year, and two more remain – one in … Continued
At a time when the Fed is getting ready to taper its purchases of treasury bonds, foreigners are warming up to these securities. The 10-year yield cannot break through low-1.40s resistance. In July, foreigners bought $10.2 billion in treasury notes … Continued
After dropping by a decent amount last week, major US equity indices are headed for a test of nearby support, which in the case of the S&P 500 is merely 0.8 percent away. Over the past 16 months, bulls’ mettle … Continued
Following futures positions of non-commercials are as of September 7, 2021. 10-year note: Currently net long 780, up 30.6k. Once again on Tuesday, the 10-year treasury yield faced stiff resistance at just under 1.4 percent; the session high 1.39 percent … Continued
Last week, the VIX index and the S&P 500 moved together – a rare occurrence. At least near term, the former seems to be itching to move up and the latter down. Medium- to long-term, how tapering evolves, and its … Continued
Following futures positions of non-commercials are as of August 31, 2021. 10-year note: Currently net short 29.8k, up 143.1k. Twice in August, the 10-year treasury yield retreated after ticking 1.38 percent. This was just before testing broken-support-turned-resistance at low-1.40s. Back … Continued
As Jerome Powell indicated imminent tapering but not rate hikes, small-caps were bid up last Friday. The Russell 2000 is rangebound within a rectangle. A breakout can cause short squeeze. Should one occur, bulls need cooperation from the A-D line. … Continued