Tech, which led for a while, is now lagging. Amidst this, Tuesday produced interesting price action on both the S&P 500 and Russell 2000, with sellers showing up at crucial price points. Tech has begun to lag. The Nasdaq 100 … Continued
Following futures positions of non-commercials are as of August 4, 2020. 10-year note: Currently net long 92.1k, up 18.9k. The Fed’s balance sheet peaked in the week to June 10 at $7.17 trillion, up nearly $3 trillion in three months. … 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
Following futures positions of non-commercials are as of July 14, 2020. 10-year note: Currently net long 58.1k, up 14.9k. The 10-year Treasury yield (0.63 percent) continues to bounce along the lower bound of a four-month range between 0.73 percent and … Continued
In the latest period, Nasdaq/QQQ shorts went on an offensive. The index/ETF rallied to a fresh high last Friday. Longs are salivating over the jump in short interest as yet another squeeze opportunity. In the past, zealous bears have repeatedly … Continued
Following futures positions of non-commercials are as of July 7, 2020. 10-year note: Currently net long 43.2k, up 12.2k. The 10-year Treasury yield is clinging on to support. It shed four basis points this week to close at 0.63 percent; … Continued
The S&P 500 as well as the Nasdaq 100 stalled at 61.8 percent Fibonacci retracement of their February-March decline, before rallying past the golden ratio. The Russell 2000 achieved that feat last week and immediately came under pressure. If it … 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
Following futures positions of non-commercials are as of May 19, 2020. 10-year note: Currently net short 93.1k, down 58.4k. This data is a little outdated, but foreigners were big sellers of Treasury securities in March. On a net basis, they … Continued
Following futures positions of non-commercials are as of April 21, 2020. 10-year note: Currently net short 34.1k, down 36.7k. The FOMC meets next week. A two-day meeting begins Tuesday. This comes after March’s hectic schedule which included two unscheduled meetings. … Continued