After seven consecutive up weeks, the Nasdaq 100 went negative last week. Bulls came so close but were denied a new high. This is occurring even as breadth is in divergence with the index. Tech bears last week finally achieved … Continued
The Russell 2000’s continued difficulty at 2100 runs in contrast to one after another high notched by large-cap indices such as the S&P 500. That said, last week’s weekly gravestone doji on the Nasdaq 100 is worth watching. After unsuccessfully … Continued
From last month’s record highs, both the S&P 500 and Nasdaq 100 are down just under three percent and have now approached the 50-day, which has not been lost since last October when they bottomed. Given that the trendline support … Continued
Following futures positions of non-commercials are as of April 2, 2024. 10-year note: Currently net short 570k, down 8.4k. Minutes for the March 19-20 FOMC meeting are due out Wednesday. At this point, no one probably cares what the members … Continued
Following futures positions of non-commercials are as of February 1, 2022. 10-year note: Currently net short 274.9k, up 10.2k. Last Wednesday when the FOMC concluded its meeting and Fed Chair Jerome Powell announced there was “quite a bit of room” … Continued
Following futures positions of non-commercials are as of January 25, 2022. 10-year note: Currently net short 264.7k, down 6.8k. Jerome Powell, Fed chairman, has a task at hand – to bring inflation, the likes of which has not been seen … Continued
There is already a debate going on as to if a new bull market has begun. What is more important at this stage is if last week’s low holds, as stocks likely come under pressure near term. Regardless if a … Continued
Following futures positions of non-commercials are as of November 27, 2018. 10-year note: Currently net short 284.2k, down 83k. Jerome Powell, Fed chair, moved markets on Wednesday. A whole host of asset classes reacted to his Economic Club of New … Continued