Here is a brief review of period-over-period change in short interest in the May 16-31 period in nine S&P 500 sectors. XLB (SPDR materials ETF) XLB (60.92) has made higher lows since early April, rallying past both 50- and 200-day … Continued
The S&P 500 large cap index finally breaks out of a box. Further building on it near term may prove difficult as the options market indicates investor sentiment is sanguine right now. S&P 500 stocks made progress last week. After … Continued
Following futures positions of non-commercials are as of June 5, 2018. 10-year note: Currently net short 397.5k, down 73.5k. The FOMC meets next week. It is this year’s fourth meeting, and four more remain after this. The fed funds rate … Continued
The Nasdaq 100 index rallied to a new high, although the number of stocks above the 50-day moving average is nowhere near. Bears see this as divergence, bulls as room to push still higher. Since it broke out of a … Continued
With bulls latching on to every positive fundamental data, small-caps continue to build on breakout from three weeks ago. From the perspective of how they are acting and how they have outperformed their large-cap peers, small-caps are winning big. After … Continued
Major US equity indices all peaked late January – the S&P 500 large cap index, the Dow industrials and the Nasdaq 100 index on the 26th and the Russell 2000 small cap index on the 24th. This was followed by … Continued
SPY (SPDR S&P 500 ETF) closed at $273.60 last Friday. It is a decision time as relates to the double calendar spread hypothetically initiated last week. The spread – short June 1 273 call/long June 8 273 call/short June 1 … Continued
Following futures positions of non-commercials are as of May 29, 2018. 10-year note: Currently net short 471.1k, up 112.4k. “When the pendulum swings too far in one direction it will go back,” Supreme Court Justice Ruth Bader Ginsburg once said. … Continued
US small-caps are outperforming. Price action is great. But large-caps are not on the same page. And high-yield corporate bonds have diverged with small-caps for a while now. In early 2016 when US stocks reached a major low, several other … Continued
SPY has broken out of late-January trend line, but acts lethargic, even as short-term technicals are in overbought territory. Options can help. Since the bull market began in March 2009, time and again shorts have lent a helping hand to … Continued