With spring in their step, tech bulls Tuesday rallied the Nasdaq 100 to trend-line resistance from the all-time high set in July. A new high has the potential to squeeze shorts. Nasdaq short interest is at a four-year high. There … Continued
Major US equity indices are within striking distance of July highs. Sentiment took a small hit in recent weeks and has room to rise. How markets react to lowered 3Q19 earnings estimates will decide if bulls will be able to … Continued
Following futures positions of non-commercials are as of October 8, 2019. 10-year note: Currently net short 122.6k, down 41.1k. The 10-year Treasury yield (1.75 percent) put in a higher low. On September 3, rates fell to 1.43 percent, which was … Continued
Major US equity indices are a stone’s throw away from their respective highs. Daily momentum indicators are extended. Breakout retests are the path of least resistance. The FOMC meets this week. A 25-basis-point cut to a range of 175 to … Continued
Following futures positions of non-commercials are as of September 10, 2019. 10-year note: Currently net short 300.4k, down 77.4k. The FOMC meets next Wednesday. In the futures market, the odds of a 25-basis-point easing currently stand at 80 percent. This … Continued
Following futures positions of non-commercials are as of August 27, 2019. 10-year note: Currently net short 309.9k, down 91.9k. The 10-year Treasury yield (1.51 percent) could be setting up for a rally – duration and magnitude notwithstanding. Wednesday’s intraday low … Continued
Following futures positions of non-commercials are as of August 6, 2019. 10-year note: Currently net short 390.9k, up 7k. The 10-year Treasury yield (1.73 percent) dropped to 1.6 percent intraday Wednesday – the lowest since September 2016. July that year, … Continued
Following futures positions of non-commercials are as of July 30, 2019. 10-year note: Currently net short 383.8k, up 3.7k. In the wake of Wednesday’s FOMC meeting in which the fed funds rate was lowered by 25 basis points but the … Continued
Following futures positions of non-commercials are as of July 16, 2019. 10-year note: Currently net short 347.2k, up 58.4k. In its quest to justify a rate cut later this month, the Fed may be inadvertently creating a precedent that it … Continued
Following futures positions of non-commercials are as of July 9, 2019. 10-year note: Currently net short 288.8k, down 48. In the first stare down with markets since his appointment in February last year, Jerome Powell, Fed chair, blinked. In this … Continued