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
Major US equity indices took it on the chin last week. Medium- to long-term, there is more to go on the downside – if nothing else just to unwind overbought conditions. Near-term, in the right circumstances for bulls, a relief … Continued
US stocks are on fire. The Russell 2000/IWM was essentially unchanged last week, with the index down 0.03 percent and the ETF up 0.06 percent. This followed nine weeks of persistent rally, during which they jumped 34 percent. Conditions are … Continued
Since the intraday low on Boxing Day, SPY is up nearly 11 percent. Too far, too fast? Possibly, as the ETF is just a hair breadth away from support-turned-resistance at 260, which it lost mid-December. The Fed has a dual … Continued
Fundamentals are still a suspect, but US stocks were treated with soothing comments from Fed chief last week. Bulls have the ball, but bears are likely to show up at $260 on SPY. Speaking at the American Economic Association’s annual … Continued
Volatility has picked up in US stocks. This is a perfect environment for traders who are nimble enough and ready to take ones and twos, quickly locking in what markets give them. It is increasingly becoming clear why stocks began … Continued
From early October, the S&P 500 is down 18 percent. Important support lies at 2400, or just underneath. Several indicators are at/near panic levels. Risk-reward odds favor unwinding of these conditions sooner than later. There is blood on the Street. … Continued
The 10-year T-yield dropped from 3.24 percent a month ago to last Thursday’s intraday low of 2.83 percent. The daily chart is grossly oversold. A rally looks imminent near term, meaning TLT is headed lower. US average hourly earnings for … Continued
US stocks continued to take it on the chin last week. Amidst this rout that began early October, small-caps last week performed relatively better. Bulls hope this is a signal, not a noise, at least near term. US M2 money … Continued
After a decent rally in equities last week, this week has on the docket several potentially market-moving events – from FOMC meeting to mid-term elections to China trade. Longs can think of selling some covered calls. Last week, two separate … Continued