Helped along by massive short squeeze and healthy flows into ETFs, small-caps have broken out to 161.8-percent Fibonacci-extension resistance. Most recently, the Russell 2000 small cap index bottomed on August 18, and has gone on to rally 12-plus-percent since. In … Continued
Following futures positions of non-commercials are as of Oct 3, 2017. 10-year note: Currently net long 232.2k, down 24.5k. December looks like a lock. The odds in the futures market of a 25-basis-point hike in the 12-13th meeting that month … Continued
There is a new-found spring in U.S. small-caps’ step. What changed all of a sudden? More importantly, are there ingredients in place for the rally to sustain itself? The Russell 2000 small cap index just broke out. It has been … Continued
Following futures positions of non-commercials are as of Sep 26, 2017. 10-year note: Currently net long 256.6k, down 13.5k. The Treasury yield curve widened this week. The spread between 10- and two-year notes went from 78 basis points on Monday … Continued
Here is a brief review of period-over-period change in short interest in the September 1-15 period in the Nasdaq and NYSE Group as well as nine S&P 500 sectors. Nasdaq Since reaching an all-time high of 6477.77 in a spinning … Continued
After rallying 13-plus percent in a couple of months, gold has come under pressure the past couple of weeks. Non-commercials may end up deciding what happens next. Once again, the yellow metal sits at a crucial juncture. On July 10, … Continued
Following futures positions of non-commercials are as of Sep 19, 2017. 10-year note: Currently net long 270.1k, up 18.4k. Americans’ love for leverage needs no elaboration. The debt culture began in earnest in the early ’80s. Leverage remains high – … Continued
Small-caps have come alive in the past month, with the caveat that the Russell 2000 small cap index is still 1.4 percent from its all-time high of July. The bulls’ best hope near term: squeeze non-commercials. Post-U.S. presidential election last … Continued
Following futures positions of non-commercials are as of Sep 12, 2017. 10-year note: Currently net long 251.7k, up 29.9k. The FOMC’s two-day meeting begins Tuesday. A press conference by Janet Yellen, Fed chair, is scheduled for Wednesday. After this, there … Continued
Breakouts galore! Three of the four major U.S. indices – the S&P 500 large cap index, the Nasdaq composite and the Dow Industrials – this week eked out new record close. The Russell 2000 small cap index is yet to … Continued