The following are futures positions of non-commercials as of September 20, 2016. 10-year note: A steeper yield curve is typically associated with a strengthening economy. So when the Bank of Japan says it will target a steeper yield curve, what … Continued
The 3Q16 earnings season is upon us … will begin in earnest in about three weeks. As of September 16th, S&P 500 companies are expected to earn $29.41 out of operations (courtesy of S&P Dow Jones Indices). This compares with … Continued
In July’s Treasury International Capital System data released last Friday, there was one particular data point equity bulls were probably happy to see. Global investors purchased $26.1 billion in U.S. equities in that month. This was the highest monthly purchase … Continued
As of last Friday, only 32.6 percent of S&P 500 stocks were above 50-day moving average, earlier having dropped to 29.8 percent on Wednesday. This compares to 22 percent on June 27 (orange arrow in Chart 1) when the S&P … Continued
The following are futures positions of non-commercials as of September 13, 2016. 10-year note: More and more, we are beginning to hear from commentators – both professional and in media – that major central banks are increasingly hesitant about … Continued
In its rather brief history going back to January 1990, out of 6,725 sessions, there have only been 10 times when spot VIX jumped 40 percent or higher in a single session. That is how rare it is! Last Friday … Continued
Seven weeks of sideways action on the S&P 500 large cap index has been resolved. Last Friday, the index dropped 2.5 percent, for a weekly drop of 2.4 percent. This comes on the heels of an important breakout in July. … Continued
The following are futures positions of non-commercials as of September 6, 2016. 10-year note: Is the ECB reaching the end of the stimulus rope? This is not a consensus thinking, but the bank may very well be trying to … Continued
March 20, 2008: 114.1 August 27, 2015: 112.6 September 7, 2016: 112.0 On October 11, 2007, the S&P 500 large cap index entered a bear market peaking at 1576.09. It would not bottom until March 9, 2009 when the tape … Continued
The following are futures positions of non-commercials as of August 30, 2016. Change is week-over-week. 10-year note: Prior to this week, after hawkish comments from several FOMC members, it looked like the August jobs report was the sole make-or-break data … Continued