S&P 500 Breaks Out Of 2800, One More Hurdle Before Late-January High Is Tested

As 2Q earnings season got underway, the S&P 500 large cap index broke out of 2800.  If it were to rally toward its late-January all-time high, it has to first win over resistance around 2840. The S&P 500 (2809.55) faced … Continued

CoT: Peek Into Future Through Futures, How Hedge Funds Are Positioned

Following futures positions of non-commercials are as of July 10, 2018. 10-year note: Currently net short 439.1k, down 60.9k. News this week that the Trump administration planned to impose tariffs on another $200 billion worth of imports from China resulted … Continued

Long And Short Of Short Interest

posted in: Equities, Technicals | 0

Here is a brief review of period-over-period change in short interest in the June 1-15 period in nine S&P 500 sectors. XLB (SPDR materials ETF) Monday, XLB (57.83) bounced off the daily lower Bollinger band.  The daily chart is oversold.  … Continued

Early Signs Of Large-Cap Fatigue Spreading To Small-Caps, Tech

posted in: Economy, Equities, Technicals | 0

Signs of fatigue are showing up in US equities.  It began with large-caps, and now there are early signs it is spreading to small-caps as well as tech. The small-cap switch was turned on right after Donald Trump was elected … Continued

Signs Of Fatigue Showing Up On S&P 500

Large- and small-cap divergence continues.  Versus the Russell 2000 and the Nasdaq 100, the S&P 500 is beginning to show signs of fatigue. Large-caps continue to fall behind small-caps.  Not to mention tech.  The S&P 500 large cap index was … Continued

CoT: Peek Into Future Through Futures, How Hedge Funds Are Positioned

Following futures positions of non-commercials are as of June 12, 2018. 10-year note: Currently net short 336k, down 61.6k. With this week’s 25-basis-point raise, the fed funds rate now stands at 175-200 basis points, up 175 basis points since December … Continued

Dec ’16 Trend Line Defended – Decent Odds Gold Recaptures Broken Support

Gold faced pressure after running into resistance six weeks ago.  The subsequent drop cost the metal long-term support at $1,300-plus.  Gold bugs were not ready to give in that easy, though.  They defended a rising trend line from December 2016.  … Continued

CoT: Peek Into Future Through Futures, How Hedge Funds Are Positioned

Following futures positions of non-commercials are as of May 22, 2018. 10-year note: Currently net short 358.6k, down 23.3k. Ten-year Treasury yields (2.93 percent) bottomed intraday at 2.72 percent on April 2, then quickly rose to 3.12 percent on May … Continued