This week begins the 1Q21 earnings season. The S&P 500 rallied to a new high last Friday. Sentiment remains elevated. Unwinding is just a matter of time – whether it begins now or in a couple of weeks. The 1Q21 … Continued
Following futures positions of non-commercials are as of September 3, 2019. 10-year note: Currently net short 377.9k, up 68k. The 10-year Treasury yield (1.55 percent) rallied four basis points this week, but not before setting a three-plus-year low of 1.43 … Continued
Here is a brief review of period-over-period change in short interest in the January 2-15 period in 10 S&P 500 sectors. XLB (SPDR materials ETF) XLB (53.12) five sessions ago recaptured a falling trend line from last September. In the … Continued
Here is a brief review of period-over-period change in short interest in the December 17-31 period in nine S&P 500 sectors. XLB (SPDR materials ETF) Shorts got aggressive during the reporting period. XLB (52.48) dropped to 47.05 intraday on December … Continued
Here is a brief review of period-over-period change in short interest in the November 16-30 period in nine S&P 500 sectors. XLB (SPDR materials ETF) XLB (51.88) fell out of multi-month horizontal support at 55-56 during October’s selling. Shorts are … Continued
Following futures positions of non-commercials are as of September 4, 2018. 10-year note: Currently net short 682.8k, up 152.9k. Bulls and bears went back and forth this week around the 50-day moving average until Friday when the 10-year rate (2.94 … Continued
Following futures positions of non-commercials are as of August 21, 2018. 10-year note: Currently net short 700.5k, up 2.3k. The 10-year T-yield (2.83 percent) lost five basis points this week. The neckline of a potentially bearish head-and-shoulders formation has been … Continued
Following futures positions of non-commercials are as of August 7, 2018. 10-year note: Currently net short 586.3k, down 3.8k. The 10-year Treasury yield (2.86 percent) continues to work on a potentially bearish head-and-shoulders formation. On August 1, it hit 3.02 … Continued
The Nasdaq 100 index/QQQ could be potentially forming the right side of a bearish head-and-shoulders pattern. This week’s action could provide further clues. The US economy is one month short of completing nine years of expansion. The recovery has been … Continued
Gold shows nice price action, just broke past $1,300/ounce, and has room to rally further, particularly if non-commercial futures traders continue to keep the faith and/or the U.S. dollar weakens further. Most recently, the yellow metal bottomed at $1,238.30 on … Continued