Stocks rallied for three months in defiance of deteriorating macro data. By essentially putting an end to the tightening cycle, the Fed is acknowledging this. Stocks could be the next. What just happened? Many are probably asking that question after … Continued
US stocks are on fire. The Russell 2000/IWM was essentially unchanged last week, with the index down 0.03 percent and the ETF up 0.06 percent. This followed nine weeks of persistent rally, during which they jumped 34 percent. Conditions are … 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
Post-February 9 reversal, both the Nasdaq composite and the Nasdaq 100 index went on to surpass the late January highs. Other indices such as the S&P 500 large cap index and the Dow Industrials could not match that feat. The … Continued
Tomorrow, April’s new home sales come out. March was down 1.5 percent month-over-month to a seasonally adjusted annual rate of 511,000 units. The cycle peaked at 545,000 units in February last year – a seven-year high. The median price in … 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