Up 1.5 percent in the first three sessions this week, the S&P 500 probably has more gains in store in the sessions ahead. A crucial dual resistance is two percent away. Last week, for the first time in four weeks, … Continued
Major US equity indices rose slightly last week but were unable to hang on to all the gains. Fibonacci resistance is at work. The S&P 500 dropped 14.6 percent between the January 4 high (4819) and the February 24 low … Continued
Following futures positions of non-commercials are as of March 22, 2022. 10-year note: Currently net short 263.8k, down 57.2k. At last, Jerome Powell seems to have gotten religion. Or so it seems. On Monday, the Federal Reserve chair delivered very … Continued
The 10-year treasury yield ended with a weekly shooting star last week, briefly rising above two percent. Only about two and a half months ago, rates were 1.34 percent. The 10-year may be ready to unwind at least some of … Continued
Following futures positions of non-commercials are as of February 8, 2022. 10-year note: Currently net short 201.9k, down 73k. The minutes for the January 25-26 meeting are scheduled for next Wednesday. This was the year’s first FOMC meeting, during which … Continued
In a matter of three weeks last month, the S&P 500 gave back 12.4 percent. A .618 golden ratio of that decline lies at 4591, which was tested on February 2 and again on Wednesday. The 50-day lies just above … Continued
Following futures positions of non-commercials are as of May 26, 2020. 10-year note: Currently net short 38.1k, down 55.1k. The 10-year treasury yield (0.65 percent) has essentially gone sideways for nearly three months now. This was at a time when … Continued
Margin debt rose in April. US stocks had a very good April. Yet, investors do not seem to be in a mood to aggressively add to leverage – the same way they are leaning more toward large-caps than small-caps. FINRA … Continued
Last week, the S&P 500, Nasdaq 100 and Russell 2000 respectively fell 2.3 percent, 0.7 percent and 5.5 percent. Bulls’ consolation is that the indices were down a lot more at Thursday’s lows and that they were able to defend … Continued
The top five stocks report this week. They have rallied massively since March lows. Investor reaction to their earnings will determine if major cap-weighted indices continue their five-week upward momentum or hit the wall. This week, the big five report. … Continued