The energizer bunny marches on. The S&P 500 rallied to a fresh high last week. This time around, the otherwise-laggard Nasdaq 100 joined in, meekly breaking out to a new high. Next week, the top six tech outfits are set … Continued
The S&P 500 posted a new record last Thursday; otherwise a laggard this year and March in particular, the Nasdaq 100 too reclaimed its 50-day. Continued strength in tech should reverberate through the rest of the market, particularly market cap-weighted … Continued
Last Monday, major equity indices all opened up strong but by Friday they diverged. Small-caps led, while tech lagged. Despite this, they all closed out the week at/near resistance. Breakout will further push them into extended territory. A breather is … Continued
Following futures positions of non-commercials are as of September 15, 2020. 10-year note: Currently net long 14.8k, up 5.3k. The Fed Wednesday said rates will stay zero-bound through the end of 2023. The fed funds rate in March was lowered … Continued
On a 12-month basis, foreigners’ purchases of US equities dropped slightly in July, with June the highest since April 2010. If this represents a turn in their sentiment, this will have come at a time when buybacks are no longer … Continued
Overbought on the daily timeframe, major US equity indices are right at, or near, the upper bound of the recent trading range. Volume has dried up, and bulls are staying put, hoping for a breakout. Should one come about, there … Continued
After massive rallies since the lows of March, major US stock indices saw sellers show up later last week at/near important resistance. Some indicators made a quick switch from fear to greed. This is coming at a time when the … Continued
With momentum on their side, equity bulls hope metrics such as money-market funds, margin debt and even foreign buying of US stocks begin to cooperate better. In this scenario, volatility, already suppressed, is vulnerable to another leg lower. Non-commercials are … Continued
After rallying in June and most of July, stocks began selling off late last month. Bulls nonetheless have managed to defend major support, even as stars seem to be lining up for them – magnitude and duration notwithstanding. Bulls are … Continued
After the October-December rout, US stocks rallied big in January and February-to-date. Several data points such as consumer and investor sentiment followed suit, but their rise has been muted. For longs, this could mean there is room for more strength, … Continued