Both large- and small-caps rallied strong last week but retreated on Friday after filling the June 10th gap. The Nasdaq 100, too, filled the gap but kept rallying, only to see some selling on Friday. Tech’s relatively better performance – … Continued
Following futures positions of non-commercials are as of July 19, 2022. 10-year note: Currently net short 108.7k, up 333. The FOMC meets next week. This will be the fifth of the eight scheduled meetings this year. The Federal Reserve will … Continued
US stocks in general sold off last week, but the lows of Wednesday and Thursday were bought, with Friday’s rally the icing on the cake. This took place amidst June’s red-hot CPI report and disappointing earnings from JPM. As 2Q … Continued
Following futures positions of non-commercials are as of July 12, 2022. 10-year note: Currently net short 108.4k, down 62.1k. There was some jawboning this week. On Wednesday, inflation measured by the consumer price index showed consumer prices in June surged … Continued
The Fed is using both conventional and unconventional tools to deal with surging inflation. This is bound to impact economic activity, which is already showing signs of deceleration. Inflation could be the next shoe to drop. Any signs of this … Continued
Next week, the 2Q earnings season begins in earnest. Equities took a big hit in the first half. The sell-side is yet to bring out scissors as relates to 2022/2023 earnings estimates. It will be even more disappointing if corporate … Continued
Following futures positions of non-commercials are as of June 28, 2022. 10-year note: Currently net short 181.7k, down 46.5k. A couple of weeks after forming a weekly shooting star, it is looking more and more likely that the 10-year treasury … Continued
After a slight breach of support in the week before, both small- and large-cap bulls put their foot down last week. This came after weeks of selling pressure. There is more room to run. Non-commercials are aggressively short and can … Continued
Following futures positions of non-commercials are as of June 21, 2022. 10-year note: Currently net short 228.2k, up 22.7k. Jerome Powell this week testified on monetary policy in front of Congress. Just last week, after raising the fed funds rate … Continued
With a couple of tough weeks, both large- and small-caps last week suffered a slight breach of support, but not decisively just yet. Concurrently, VIX is flashing signs of fatigue. For equity bulls, if there is going to be a … Continued