The following are futures positions of non-commercials as of January 13 (Tuesday). Change is week-over-week. Dollar index and E-mini S&P 500 are noticeable. 10-year note: Did non-commercials get squeezed a little this week? By Tuesday, the 10-year yield had dropped … Continued
Bounces are normal within established downtrends 2015 starts out lousy; selling/shorting rallies ka-ching so far this year Should Draghi disappoint next week and U.S. stocks get sold, weakness probably gets bought For ardent believers of “as goes January, so goes … Continued
The following are futures positions of non-commercials as of January 6th (Tuesday). Dollar and ten-year notes jump out the most. 10-year note: Substantial net shorts have been built up. In the prior week, large speculators were most short since mid-May … Continued
Investors have spoken. Bring up yesterday’s daily chart on AAPL ($97.99), and it is all there to see. Two o’ clock was when sentiment shifted. Post-announcement of products in Cupertino, bulls valiantly rallied the stock nearly five points, seeking to … Continued
Short interest continues to inch up. By June-end, Nasdaq’s went up 0.6 percent period-over-period to 8.9bn – highest since end-September 2008 – and NYSE’s edged up 0.7 percent p/p to 14.6bn. What is going on in the Naz in particular … Continued
For the last five years, the S&P 500 index has bounced up and down within a channel. Technicals have been in gross overbought territory for a while now. The last time the index had a 10-percent correction was two years … Continued
How quickly the pendulum has swung the other way. When we last discussed signals coming out of the options market, the CBOE in particular was giving out signs that equities were itching to go higher. Nearly a month ago, the … Continued
There are some interesting things happening in e-mini S&P 500 futures. First, non-commercials are now net short 121k contracts, nearly double from two weeks ago. In the intervening period, the S&P 500 index has managed to inch up, having backed … Continued
Breakouts are galore in U.S. equities. Of the three major indices, the S&P 500 and the Dow Industrials have managed to push into record territory. The Nasdaq is a laggard – yet to get past early-March highs. Ditto with the … Continued
After having flashed decent enough of a signal last week that volatility was ready to move lower – hence higher odds of higher equity prices – the VIX has indeed pulled back. Equities are rallying; volume could be better, but … Continued