SMH, the Market Vectors Semiconductor ETF, does not act well. What might be the message for semis in particular and stocks in general? Before we try to draw an out-and-out negative conclusion from this, let us remember that between the … Continued
If we just focus on Charts 1 and 2 and consider how they have behaved in the past, equity bulls have reason to be optimistic. Because of the equity rout leading up to the August 24th low, both charts reached … Continued
The following are futures positions of non-commercials as of May 26, 2015. Change is week-over-week. 10-year note: If we just focus on what the consensus was expecting, U.S. economic data this week were split down the middle, with maybe a … Continued
Buy-the-dippers have been a roadblock to shorts’ success. It is probably not an exaggeration to say that the prevailing buy-the-dip mentality in U.S. equities has done to this bull market what oxygen does to a fire. When O is present, … Continued
The following are futures positions of non-commercials as of April 14, 2015. Change is week-over-week. 10-year note: The 10-year yield fell in all five sessions. Friday could have been different as March core CPI was initially treated as hawkish, but … Continued
Short interest as of the end of March was flat on an index level, but action was hot and heavy on an industry/sector level. On the NYSE, short interest was 15.68 billion, down from 15.69 billion two weeks ago. On … Continued
The following are futures positions of non-commercials as of April 7, 2015. Change is week-over-week. 10-year note: Interesting times, indeed! Mexico this week issued a 100-year bond denominated in euros. This is not the first time that nation has tapped … Continued
SMH, the semiconductor ETF, has been range-bound since last September. Looking at a weekly chart (the one below is daily), the path of least resistance seems down in the medium-term. Bears had a great opportunity seven sessions ago to push … Continued
SMH’s latest rally attempt gets rejected at underside of broken Oct 2014 trendline Past 3 months, some semi outfits have seen estimates revised up, some down ETF has retraced 61.8% of Mar 00-Nov 08 decline; may mean pause/stop In the … Continued
The following are futures positions of non-commercials as of March 24, 2015. Change is week-over-week. 10-year note: After what these traders heard out of the FOMC last week, they decided to step on the accelerator. Net shorts went up 67 … Continued