Following futures positions of non-commercials are as of May 18, 2021. 10-year note: Currently net long 31.7k, up 30.4k. Apparently, some FOMC members at the April 27-28 meeting signaled that they were ready to discuss scaling back the Fed’s bond … Continued
Last week, equity bulls stepped up in time to save a rising 14-month trend line on the S&P 500. A similar trend line has been breached on the Nasdaq 100, which acts weak. It is just a matter of time … Continued
Following futures positions of non-commercials are as of May 11, 2021. 10-year note: Currently net long 1.2k, up 8.5k. FOMC minutes for the April 27-28 meeting will be made public on Wednesday. The meeting was a non-event – pretty much. … Continued
Following futures positions of non-commercials are as of May 4, 2021. 10-year note: Currently net short 7.2k, up 63k. Treasury Secretary Janet Yellen stated on Tuesday that “it may be that interest rates will have to rise somewhat to make … Continued
Last week’s excellent earnings results from five of the top six US companies were unable to lift equities, which had rallied big into the reporting season. With major equity indices extended on several timeframes, weakness could be brewing. The Nasdaq … Continued
Following futures positions of non-commercials are as of April 27, 2021. 10-year note: Currently net long 55.8k, up 40.2k. As expected, nothing much of substance came out of the FOMC meeting this week. The fed funds rate was left untouched … Continued
Indices are beginning to diverge. Last week, large- and small-caps posted new highs, but tech struggled to put its act together. This is taking place at a time when sentiment is no longer as effusive as several weeks ago. If … Continued
Following futures positions of non-commercials are as of March 9, 2021. 10-year note: Currently net short 46.1k, down 49.5k. The FOMC meets next week. This is the year’s second meeting. Six more remain – the scheduled ones, that is. A … Continued
Major US equity indices posted new highs last week, but only to reverse and give back those gains. By Friday, the S&P 500, the Nasdaq 100 and the Russell 2000 were all sitting on channel support. Bulls cannot afford a … Continued
Following futures positions of non-commercials are as of January 26, 2021. 10-year note: Currently net long 36.9k, down 9.7k. Wednesday’s intraday drop to one percent has so far been a successful retest of the breakout three weeks ago, when the … Continued