Amidst Extremely Overbought Conditions, Major Indices At/Near Major Resistance

posted in: Derivatives, Equities, Technicals | 0

U.S. stocks have come a long way since February 11th. Intra-day, off that low through last Friday’s high, here is how much major U.S. indices have rallied: Dow Industrials, 10.1 percent; S&P 500 large cap index (Chart 1), 11 percent; … Continued

U.S. Stocks’ Path Of Least Resistance ↓ – At Least Near Term

Arguably, if U.S. stocks followed crude oil or economic data, they probably would be a lot lower. Operating earnings of S&P 500 companies peaked at $29.60 in 3Q14, and have been decelerating since.  With 474 companies having reported 4Q15 (as … Continued

CoT: Peek Into Future Through Futures

The following are futures positions of non-commercials as of February 23, 2016.  Change is week-over-week. 10-year note: Negative interest rates have suddenly become the topic du jour.  Last month, Japan waded into negative interest rate policy (NIRP).  This was totally … Continued