22 Aug 2014

XLF breaks out, likely headed toward $24, if technicals prevail

by | posted in: Credit, Economy, Equities, Technicals | 0

A month ago, we pointed out a divergence between 10- and two-year Treasury yield spread, which peaked as 2013 was unwinding, and financial stocks, which had ceased to track the spread and were rallying.  Going back nearly 18 years, the … Continued

19 Aug 2014

Nasdaq mini breakout, odds grow S&P 500 at least tests recent highs

by | posted in: Derivatives, Equities, Technicals | 0

The Nasdaq Composite (4508.31)has managed to pull off a mini breakout, and is trading above the level identified previously.  As a matter of fact, indices/ETFs such as the S&P 500 Large Cap Index and XLF (financials) have convincingly taken out … Continued