Following futures positions of non-commercials are as of October 27, 2020. 10-year note: Currently net long 16.2k, down 6.8k. The FOMC meets next week. After this, only one meeting remains this year, slated for December 15-16. It will be interesting … Continued
A day before Wednesday’s mini-collapse in major US stock indices, Investors Intelligence bulls reached a multi-week high. Some of these indices are near important support, providing bulls an opportunity to regroup. Longer-term, sentiment remains elevated. Equities took it on the … Continued
The ratio of Russell 2000 to S&P 500 fails at the upper line of an ascending triangle. Concurrently, the small cap index fails to save 1600-plus breakout retest. The ratio of the Russel 2000 to the S&P 500 is retreating … Continued
September was a down month, but it turns out the selloff was used as an opportunity to buy. Use of leverage grew last month. This was then followed this month by improved price action in small-caps, which investors tend to … Continued
Following futures positions of non-commercials are as of October 20, 2020. 10-year note: Currently net long 23k, down 52.3k. Treasury yields are rallying. The 10-year (0.84 percent) Friday unsuccessfully tested its 200-day moving average, even as the 30-year (1.65 percent) … Continued
US housing is going gangbusters. Sales are very strong. Builder optimism is at a record. Starts have recovered strongly. Amidst all this, ITB, having risen to a new high this month, is running into massive resistance. Housing activity has picked … Continued
Tech bulls only benefited in a minor degree from a major squeeze of non-commercials in the futures market. Concurrently, several other buying sources are increasingly acting hesitant. In the week to last Tuesday, non-commercials in Nasdaq 100 index (mini) futures … Continued
Following futures positions of non-commercials are as of October 13, 2020. 10-year note: Currently net long 75.3k, up 5.7k. After taking a one-month pause through early July, the Federal Reserve once again is accumulating assets. In the week to Wednesday, … Continued
The Russell 2000 broke out last week – a big victory for small-cap bulls. They will have scored a bigger one should they decisively defend breakout retest, which looks imminent. Last week, the Russell 2000 staged a major breakout, rallying … Continued
Stocks increasingly are beginning to price in a possible democratic sweep on November 3. Both small- and large-caps staged important technical breakouts last week. They are liking the prospect of more stimulus, that is rising budget deficit. If this scenario … Continued