Following futures positions of non-commercials are as of June 11, 2019. 10-year note: Currently net short 366k, down 101.7k. Tuesday’s intraday high of 2.17 percent on the 10-year Treasury yield predictably attracted bond bulls. There was gap-down resistance from May … Continued
Following futures positions of non-commercials are as of June 4, 2019. 10-year note: Currently net short 467.7k, up 91.5k. Friday’s intraday low of 2.05 percent came pretty close to testing the September 2017 low of 2.03 percent. A breach of … Continued
Following futures positions of non-commercials are as of May 28, 2019. 10-year note: Currently net short 376.2k, down 47.2k. Where is the bottom? The 10-year Treasury yield (2.14 percent) last Thursday sliced through support at 2.36 percent. This week, it … Continued
Following futures positions of non-commercials are as of May 7, 2019. 10-year note: Currently net short 330.6k, up 42.6k. The 10-year Treasury yield (2.46 percent) fell eight basis points this week. Not surprising considering it was a risk-off week in … Continued
Here is a brief review of period-over-period change in short interest in the April 16-30 period in 10 S&P 500 sectors. XLB (SPDR materials ETF) Since peaking on April 17 at 58.50, XLB (54.40) has been down for four straight … Continued
The Russell 2000 closed Friday right at, or slightly past, crucial resistance. If bulls succeed in decisively take out this ceiling, risk-on sentiment can rise. Failure to do so can lead longs, who are sitting on handsome gains, to lock … Continued
Following futures positions of non-commercials are as of April 30, 2019. 10-year note: Currently net short 287.9k, down 35.9k. The FOMC met this week. Markets were hoping that the Fed would deliver a dovish message. It didn’t. As expected, the … Continued
Here is a brief review of period-over-period change in short interest in the April 1-15 period in 10 S&P 500 sectors. XLB (SPDR materials ETF) The breakout early this month just north of 56 is still intact, although a retest … Continued
Following futures positions of non-commercials are as of April 16, 2019. 10-year note: Currently net short 275.7k, up 14.1k. The support-turned-resistance at 2.62 percent was tested – unsuccessfully – Wednesday when the 10-year yield (2.56 percent) rallied to 2.61 percent. … Continued
Here is a brief review of period-over-period change in short interest in the Mar 16-29 period in 10 S&P 500 sectors. XLB (SPDR materials ETF) In October last year, XLB (57.42) lost support just north of 56, which then repeatedly … Continued