Following futures positions of non-commercials are as of April 23, 2024. 10-year note: Currently net short 353.9k, down 8.1k. The FOMC meets next week. This is the year’s third scheduled meeting and five more remain after this. The two-day meeting … Continued
After strong rallies the past couple of weeks, major US equity indices have reached crucial levels, particularly the S&P 500, even as the Russell 2000 fails at a breakdown backtest and VIX sits at the 200-day. The S&P 500 (4543) … Continued
Major US equity indices rallied big last week, closing out right at, or near, important resistance, including moving averages, Fibonacci resistance and breakdown backtest. Concurrently, VIX is sitting on a rising trend line from early January. The S&P 500 (4463) … Continued
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
Gold has had a nice rally since early October, and is extended on both daily and weekly charts. It is also at dual resistance. Near term, recent longs can get tempted to lock in profit. Spot gold ($1,288.40/ounce) looks tired. … Continued