The major US equity indices closed last week either right on or in slight breach of trendline support from last October’s low. Bulls’ mettle is being tested, even as investor sentiment remains too giddy. The Nasdaq 100 ended the week … Continued
Following futures positions of non-commercials are as of September 26, 2023. 10-year note: Currently net short 732k, up 29.7k. The 10-year treasury yield continued higher, up 14 basis points from last week to 4.57 percent. On Thuresday, rates rose as … Continued
VIX took a dive on Wednesday after getting denied at 27.50s for several sessions. Concurrently, Investors Intelligence bulls plunged 15.4 percentage points over two weeks to sub-30 percent, and the Hedgopia Risk Reward Index is rising from oversold territory. Equity … Continued
Until last Friday’s Jackson Hole speech by Jerome Powell, it was looking like US equities would continue to rally, but post-speech, the potentially rosy outlook got turned on its head. From the June 17 intraday bottom of 3637 to the … Continued
On a Fed decision day, both large- and small-caps find themselves at crucial technical juncture. They have both taken a real hit the past five sessions. In the wake of last Friday’s inflation report, markets now expect a 75-basis-point hike … Continued
Major US equity indices rose slightly last week but were unable to hang on to all the gains. Fibonacci resistance is at work. The S&P 500 dropped 14.6 percent between the January 4 high (4819) and the February 24 low … Continued
Major US equity indices rallied big last week, closing out right at, or near, important resistance, including moving averages, Fibonacci resistance and breakdown backtest. Concurrently, VIX is sitting on a rising trend line from early January. The S&P 500 (4463) … Continued
Following futures positions of non-commercials are as of March 15, 2022. 10-year note: Currently net short 321k, down 56.7k. The Federal Reserve kicked off its rate hiking cycle this week by pushing up the fed funds rate by 25 basis … Continued
Last week, both VIX and the S&P 500 declined. Ordinarily, the two are negatively correlated. This took place even as the volatility index is finding it difficult to enduringly stay above 32-33. Last week, VIX and the S&P 500 moved … Continued
Following futures positions of non-commercials are as of November 23, 2021. 10-year note: Currently net short 323.4k, up 29.3k. As of last Tuesday, non-commercials added more to their holdings of net shorts in 10-year note futures. They are now most … Continued