Bears point to action in transports to drive point home Bulls cite how financials are acting to prove why bears are wrong VIX remains pinned by 15, bullish (financials); VIX past 15, bearish (transports) Much ink has been spilled over … Continued
The following are futures positions of non-commercials as of June 2, 2015. Change is week-over-week. 10-year note: Yields have decisively broken out of a five-month downtrend channel. The only question is what triggered this. To quote the Beige Book: “The … Continued
The PowerShares QQQ (110.05), the ETF that tracks the Nasdaq 100, seems to want to go lower, at least near-term. When the Qs broke out of 104-plus in February, it quickly added nearly four percent, rallying seven-plus percent for the … Continued
IWM breaks out of 11-month range early Feb, but momentum slipping; loses Oct 14 trendline Short interest building from low level; large specs adding to net shorts in recent weeks Credit call spread to take advantage of probable sideways/down move … Continued
The following are futures positions of non-commercials as of May 19, 2015. Change is week-over-week. 10-year note: The April FOMC minutes for all intents and purposes put a nail in the coffin of June rate-hike odds. At the March meeting, … Continued
The following are futures positions of non-commercials as of May 12, 2015. Change is week-over-week. 10-year note: If we just focus on weekly closing prices, the 10-year yield had a lackluster week – essentially flat. Nothing could be further from … Continued
Put-to-call ratios, VIX:VXV point to potential selling pressure in stocks But large specs expecting lower VIX not in agreement with peers betting on lower SPX Task of separating wheat from chaff – which signal to treat as signal and which … Continued
The following are futures positions of non-commercials as of May 5, 2015. Change is week-over-week. 10-year note: It was a weird week. That is an understatement. Up until Wednesday, 10-year yields were up 20 basis points. Treasurys on the long … Continued
A stronger U.S. dollar finally caused some disturbance with U.S. corporations, especially multinationals. While reporting March-quarter earnings, one after another singled out the dollar for causing top-line shortfall. From trough to peak between last May and March this year, the … Continued
The following are futures positions of non-commercials as of April 28, 2015. Change is week-over-week. 10-year note: The week was a head-scratcher from the standpoint of bond vigilantes’ reaction. The 10-year yield rallied hard on a very weak 1Q15 GDP … Continued