Here is a brief review of period-over-period change in short interest in the January 16-31 period in 10 S&P 500 sectors. XLB (SPDR materials ETF) Shorts continued to cut back in the second half of January, as XLB (52.78) kept … Continued
Bulls last week defended support at 2600-2630 on the S&P 500, which has rallied massively since bottoming on December 26. Daily conditions are deeply overbought, pricing in a dovish Fed. A two-day FOMC meeting begins Tuesday. A ‘buy the rumor, … Continued
Here is a brief review of period-over-period change in short interest in the January 2-15 period in 10 S&P 500 sectors. XLB (SPDR materials ETF) XLB (53.12) five sessions ago recaptured a falling trend line from last September. In the … Continued
Gold has had a nice rally since early October, and is extended on both daily and weekly charts. It is also at dual resistance. Near term, recent longs can get tempted to lock in profit. Spot gold ($1,288.40/ounce) looks tired. … 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
Here is a brief review of period-over-period change in short interest in the December 17-31 period in nine S&P 500 sectors. XLB (SPDR materials ETF) Shorts got aggressive during the reporting period. XLB (52.48) dropped to 47.05 intraday on December … Continued
Here is a brief review of period-over-period change in short interest in the December 3-14 period in nine S&P 500 sectors. XLB (SPDR materials ETF) XLB (49.46) dropped to 47.05 intraday Wednesday before reversing to end the session up 4.5 … Continued
Here is a brief review of period-over-period change in short interest in the November 16-30 period in nine S&P 500 sectors. XLB (SPDR materials ETF) XLB (51.88) fell out of multi-month horizontal support at 55-56 during October’s selling. Shorts are … 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
Post-Powell’s supposed dovish switch last week, equity bulls spent lots of energy to rally the S&P 500 within less than two points of the 200-day. If the trade-tariff truce the US and China reached over the weekend in Argentina is … Continued