Unlike in the past when equities have shown a strong correlation with each other, increasingly they are marching to the tunes of different drummers. Consider the DJI. It has flat-lined for five months now, and it feels like it is … Continued
NYSE margin debt declined slightly to $450.3bn in March from February’s all-time high of $465.7bn. This is a minor drop, but going by the two major previous peaks this millennium, this has the potential to be an important reversal in … Continued
One of the common themes that we so often hear is that there is a lot of dry powder still left to push stocks higher. Bulls have been steadfast in holding on to their gains. Yes, there were sell-offs in … Continued
After having flashed decent enough of a signal last week that volatility was ready to move lower – hence higher odds of higher equity prices – the VIX has indeed pulled back. Equities are rallying; volume could be better, but … Continued
Going by action on the S&P 500, Russell 2000 and Nasdaq 100, non-commercial futures traders have been gradually cutting back on their net longs for a year now, but they are yet to get aggressive in raising their short bets. … Continued