If the overnight strength in the futures market sticks and Tuesday’s CPI report cooperates, there is room for continued rally in stocks. Some indicators such as the percent of S&P 500 stocks above the 50-day are way suppressed, although the … Continued
Following futures positions of non-commercials are as of December 6, 2022. 10-year note: Currently net short 369.2k, up 72.4k. The FOMC meets next week. The day the two-day meeting begins, the Bureau of Labor Statistics will report November’s consumer price … Continued
It is a seasonally strong period for stocks. Bulls are wasting no time getting ready for this. Stocks are rallying. In the best of circumstances, there is room to run still, with the caveat that an important inflation report is … Continued
Following futures positions of non-commercials are as of June 28, 2022. 10-year note: Currently net short 181.7k, down 46.5k. A couple of weeks after forming a weekly shooting star, it is looking more and more likely that the 10-year treasury … Continued
The Nasdaq Composite is down 23 percent from its record high last November. Shorts have done exceedingly well, as short interest rose to a fresh high mid-April. Both the Composite, and the Nasdaq 100, closed Tuesday at a crucial level. … Continued
Following futures positions of non-commercials are as of February 8, 2022. 10-year note: Currently net short 201.9k, down 73k. The minutes for the January 25-26 meeting are scheduled for next Wednesday. This was the year’s first FOMC meeting, during which … Continued
In a matter of three weeks last month, the S&P 500 gave back 12.4 percent. A .618 golden ratio of that decline lies at 4591, which was tested on February 2 and again on Wednesday. The 50-day lies just above … Continued
Following futures positions of non-commercials are as of January 11, 2022. 10-year note: Currently net short 343.8k, up 66.9k. Last week, the 10-year treasury yield closed right at 1.77 percent, which was the high from last March. Since that peak, … Continued
We are at that time of the year when buying pressure tends to rise. Bulls seem to be positioning for this. We saw a semblance of this last week. But there is still two months left before the year is … Continued
The 10-year yield rallied from 1.13 percent in early August to last Friday’s 1.69 percent. Bond bears expecting higher rates are getting aggressive. At some point, they risk being in a crowded trade. The 10-year treasury yield is flashing signs … Continued