Crude oil sits at a critical juncture. Depending on which way it breaks probably decides stocks’ path of least resistance near term. Last week, OPEC announced its commitment to cutting output to between 32.5 million barrels per day and 33 … Continued
The following are futures positions of non-commercials as of August 23, 2016. Change is week-over-week. 10-year note: In the Greenspan era, traders did not have to deal with the kind of mixed messages they do today. Back then, the message … Continued
That the green line in Chart 1 is increasingly taking the form of a coiled spring is non-debatable. That the longer it stays compressed in oversold territory, the higher the odds of a spike higher is non-debatable. What is debatable … Continued
The following are futures positions of non-commercials as of August 16, 2016. Change is week-over-week. 10-year note: One more prominent central banker this week seemed to throw his hands up in the air. John Williams, San Francisco Fed president, in … Continued
To say that stocks have diverged from a whole host of things ranging from earnings to Treasury bonds to crude oil to economic data is an understatement. This is not some new phenomenon … has been going on for a … Continued
The following are futures positions of non-commercials as of August 9, 2016. Change is week-over-week. 10-year note: Are we beginning to see a chink in central bankers’ armor? Major central banks responded to the financial crisis by aggressively deploying both … Continued
The following are futures positions of non-commercials as of April 26, 2016. Change is week-over-week. 10-year note: Two different central-bank meetings, and two different market reactions this week. Haruhiko Kuroda, Bank of Japan governor, has a habit of surprising the … Continued
March sales of existing and new homes were a mixed bag, with the former up 5.1 percent month-over-month to a seasonally adjusted annual rate of 5.33 million units, and the latter down 1.5 percent m/m to 511,000 units. Post-bubble, sales … Continued
With five sessions to go in April, the Nasdaq 100 index (4474.19) is down 0.2 percent, while the Russell 2000 small cap index (1146.69) is up 2.9 percent. Last week made a big difference, as the former was down 1.5 … Continued
The following are futures positions of non-commercials as of April 19, 2016. Change is week-over-week. 10-year note: That this is even being discussed in the press and among economists is a sign of how insane things have gotten in central … Continued