The ongoing selloff in equities has been quick and painful – similar to what transpired in February this year. Back then, once stocks bottomed, they proceeded to rally strongly. Will the current selloff evolve the same way? Too early to … Continued
What a week! Stocks really took it on the chin last week, but by Friday there was some semblance of stability. Several indicators are in deep oversold territory. At least a reflex rally is due. During the carnage over the … Continued
In the midst of a flattening yield curve, the 10-year T-yield is once again hammering on resistance at just north of three percent. Just a month ago, these notes yielded 2.81 percent. At least a pause is due, raising the … Continued
Bulls put foot down on major US equity indices last week. They have the ball near term. Shorts with medium-term focus can sell weekly puts to raise the short price. The greenback acts strong. The US dollar index (95.98) hit … Continued
On the weekly chart, SPY remains grossly overbought, but near term there is room to rally – duration and magnitude notwithstanding. Options can help. US core PCE (personal consumption expenditures) increased 1.96 percent year-over-year in May – essentially two percent. … Continued
Intraday over seven sessions, SPY rallied 5.4 percent. If not an outright reversal, at least a breather is the path of least resistance near term, creating opportunity to earn premium in options. The 1Q18 earnings season is nearly over. As … Continued
First-quarter earnings are coming in strong, but stocks are stuck in a rut. There is room to rally near term, with tons of overhead resistance. One common complaint among the bulls is that US stocks of late have failed to … Continued
Since bottoming at $47.37 early February, XLU ($50.13) has made higher lows, with the 50-day moving average flattish and the 10- and 20-day flattish to slightly rising. Encouraging if you are a bull, but at the same time the $51 … Continued
Presently, the state of US trade deficit and how the Trump administration is attempting to address it is front and center. In February, the deficit came in at $57.6 billion, with the 12-month total of $589.6 billion, which was the … Continued
February and March wrought technical damage on major US equity indices, but the path of least resistance increasingly looks up near term. March-quarter earnings season is upon us. This is the first quarter US companies will be reporting after the … Continued