Amidst deteriorating U.S. earnings picture and geopolitical uncertainty, stocks resilient Major indices break out, but how much buying power did bulls expend? Breakouts deserve respect, unless they are proven false Are U.S. equities trying to tell us something? Almost out … Continued
Bull markets need fuel for continued push higher. Money can leave other asset classes, such as bonds, and into stocks. Or, they can come out of, let us say, money-market funds into stocks. Foreigners can raise net purchases of U.S. … Continued
The following are futures positions of non-commercials as of February 10 (Tuesday). Change is week-over-week. 10-year note: The 10-year yield tacked on another seven basis points for the week. Daily indicators are now grossly overbought. It is also right at … Continued
The following are futures positions of non-commercials as of February 3 (Tuesday). Change is week-over-week. 10-year note: The 10-year yield has risen from 1.65 to 1.94 in five sessions. But it also dropped 52 basis points in January, and that … Continued
U.S. stocks shake off early weakness before carving out major reversal Bulls step up to plate, refuse to give away support zones on major indices VIX and ISEE index suggest stocks’ path of least resistance probably up N/T If you … Continued
Major U.S. indices approaching/sitting on/slightly under critical technical levels U.S. indices give back Eurozone QE gains; key would be if European bourses do so U.S. bulls probably swimming against tide for now, but technical damage not irreparable U.S. equity indices … Continued
The following are futures positions of non-commercials as of January 27 (Tuesday). Change is week-over-week. 10-year note: Can we say squeeze? Since the end of December, net shorts have dropped 59 percent, even as the 10-year yield has collapsed 50 … Continued
Stocks need fuel to rise. Be it plain-vanilla inflows, be it rotation from other asset classes like bonds, be it corporate buybacks, or be it squeezed shorts. The latter has played a big role particularly since the October 15th bottom … Continued
October 15th bottom in stocks forces shorts to cover in many sectors IWM expends lots of short-covering fuel to approach crucial resistance Nasdaq, NYSE short interest at multi-year highs, can bulls force squeeze? Since stocks bottomed on October 15th, naysayers … Continued