Risks are building medium- to long-term, but the Nasdaq 100 is getting oversold on the daily chart. After major U.S. equity indices reversed on February 9, tech-heavy indices were the only ones to rally to new highs. The Nasdaq 100 … Continued
Here is a brief review of period-over-period change in short interest in the March 1-15 period in nine S&P 500 sectors. XLB (SPDR materials ETF) During last week’s selling, XLB (57.17) not only lost the 200-day moving average but also … Continued
Post-February 9 reversal, both the Nasdaq composite and the Nasdaq 100 index went on to surpass the late January highs. Other indices such as the S&P 500 large cap index and the Dow Industrials could not match that feat. The … Continued
Here is a brief review of period-over-period change in short interest in the February 16-28 period in nine S&P 500 sectors. XLB (SPDR materials ETF) Post-February 9 low/reversal, XLB (61.32) rallied to test the 50-day moving average, but was rejected. … Continued
Here is a brief review of period-over-period change in short interest in the February 1-15 period in nine S&P 500 sectors. XLB (SPDR materials ETF) During the reporting period, XLB (60.71) went from 62.95 at January-end to an intraday low … Continued
After a big rally in recent months, 10-year Treasury yields are giving out signs of fatigue – at least near term. Interest rates have suddenly become the talk of the town. Ten-year yields rallied from 2.03 percent on September 7 … Continued
Here is a brief review of period-over-period change in short interest in the January 16-31 period in nine S&P 500 sectors. XLB (SPDR materials ETF) XLB (58.42) shorts gave up as the ETF continued higher, rising to a new all-time … Continued
U.S. equity bulls stepped up near important support Tuesday. Those lows have now taken on significance. Should there be no violation, the path of least resistance is up – duration and magnitude notwithstanding. In the early months of 2016, stocks … Continued
Spot gold ($1,352.10/ounce) sits at a crucial technical juncture. A breakout would send a loud and clear message. Since bottoming at $1,045.40 in December 2015 through last week’s high of $1,365.40, gold quietly rallied nearly 31 percent. Stocks did better … Continued
Following futures positions of non-commercials are as of January 23, 2018. 10-year note: Currently net short 117.9k, up 28.6k. Tuesday, a two-day FOMC meeting begins. This is the year’s first, and will be Janet Yellen’s, the outgoing chair, last. (The … Continued