Last week, equity bulls owned the first two sessions, but only for bears to make a strong comeback as the week progressed, forming potentially bearish candles along the way. Right here and now, the bias is down. The two-day rally … Continued
Following futures positions of non-commercials are as of October 4, 2022. 10-year note: Currently net short 366.9k, up 1.7k. Wednesday brings FOMC minutes for the September 20-21 meeting. The fed funds rate was raised by 75 basis points in that … Continued
Major US equity indices all peaked late January – the S&P 500 large cap index, the Dow industrials and the Nasdaq 100 index on the 26th and the Russell 2000 small cap index on the 24th. This was followed by … Continued
Following futures positions of non-commercials are as of May 15, 2018. 10-year note: Currently net short 381.9k, down 26.7k. The Trump administration demands that China cut its trade gap with the US by $200 billion. Last year, China ran a … Continued
Following futures positions of non-commercials are as of May 8, 2018. 10-year note: Currently net short 408.6k, down 37k. The 10-year Treasury rate (2.97 percent) once again is hammering on three percent. On April 25, yields retreated after rising intraday … Continued
Following futures positions of non-commercials are as of April 24, 2018. 10-year note: Currently net short 462.1k, up 90.4k. Now what? The 10-year Treasury rate (2.96) crossed three percent this week – the first time this has happened since January … Continued
After rallies that lasted a little over two weeks, selling began on major US equity indices last week right at important resistance. This likely continues near term. US capacity utilization in March rose 0.4 percent month-over-month and 3.3 percent year-over-year … Continued
If investor/trader reaction last Friday to financials’ 1Q18 results is any indication, we are in for some interesting weeks ahead. First-quarter earnings season began in earnest last week. For 1Q18, the sell-side expects $35.63 in operating earnings from S&P 500 … Continued
Following futures positions of non-commercials are as of April 10, 2018. 10-year note: Currently net short 330.6k, down 44.7k. Annual core CPI rose stronger-than-expected 2.12 percent in March. This was the first year-over-year reading with a two handle in a … Continued
February and March wrought technical damage on major US equity indices, but the path of least resistance increasingly looks up near term. March-quarter earnings season is upon us. This is the first quarter US companies will be reporting after the … Continued