With subtle signs of distribution hitting major equity indices in recent sessions, results from the top six US companies – all tech – could not have come at a more important juncture. The 1Q21 earnings season is one fourth through. … Continued
Following futures positions of non-commercials are as of April 20, 2021. 10-year note: Currently net long 15.6k, up 18.3k. The FOMC meets next week. It is the year’s third meeting; five more remain – the scheduled ones, that is. Not … Continued
Following futures positions of non-commercials are as of April 13, 2021. 10-year note: Currently net short 2.7k, up 87.2k. Amid investor concerns that the market may get ahead of the Fed in terms of expectations for rate hikes and/or tapering … Continued
Following futures positions of non-commercials are as of April 6, 2021. 10-year note: Currently net long 84.6k, up 174.4k. On March 17, the 10-year treasury yield broke out of 1.63 percent, subsequently rallying to 1.77 percent by the 30th. Rates … Continued
The 10-year T-yield is itching to move lower – at least near term – if nothing else just to unwind its overbought condition. This could have implications for tech shares and gold, among others. The 10-year treasury yield is beginning … Continued
The S&P 500 posted a new record last Thursday; otherwise a laggard this year and March in particular, the Nasdaq 100 too reclaimed its 50-day. Continued strength in tech should reverberate through the rest of the market, particularly market cap-weighted … Continued
Following futures positions of non-commercials are as of March 30, 2021. 10-year note: Currently net short 89.8k, up 102.1k. Minutes for the March 16-17 FOMC meeting will be out next Wednesday. Not much extra color is expected out of these … Continued
Bears are putting foot down. On both the S&P 500 and Russell 2000, bulls last week were unable to break through multi-year resistance, even as the Nasdaq 100 finished right on rising-channel support from March. All this followed massive gains … Continued
Following futures positions of non-commercials are as of September 1, 2020. 10-year note: Currently net short 13.5k, up 85.8k. The 10-year Treasury yield (0.72 percent) remains rangebound between 0.57 percent and 0.74 percent. There was some excitement among bond bears … Continued
Following futures positions of non-commercials are as of July 28, 2020. 10-year note: Currently net long 73.2k, up 44.1k. The 10-year treasury yield lost five basis points this week to 0.54 percent. Five-month support at 0.57 percent has been breached. … Continued