Breakouts galore in U.S. equity indices! The S&P 500 large cap index broke out to a new all-time high on July 11th, and has since made several more highs. The breakout came after having gone sideways since essentially February 2015 … Continued
The following are futures positions of non-commercials as of August 2, 2016. Change is week-over-week. 10-year note: Mixed messages from two major central banks! On Friday last week, Haruhiko Kuroda, BoJ governor, decided not to live up to markets’ lofty … Continued
The following are futures positions of non-commercials as of July 26, 2016. Change is week-over-week. 10-year note: The Fed stopped short of signaling a rate hike near term. That said, the statement also said “near-term risks to the economic outlook … Continued
As of last Thursday (July 21st), as per S&P Dow Jones Indices, 123 of S&P 500 companies reported their 2Q16 results, 81 of them beat on an operating basis, 23 missed and 19 met consensus estimates. On a reported basis, … Continued
The following are futures positions of non-commercials as of July 19, 2016. Change is week-over-week. 10-year note: If you repeat something often enough, it becomes the truth. So the saying goes. Why bring this up? There is a sudden uptick … Continued
The following are futures positions of non-commercials as of July 12, 2016. Change is week-over-week. 10-year note: TLT, the iShares 20+ year treasury bond ETF, was punished for a 3.6-percent drop this week. This followed a parabolic rally, particularly after … Continued
The following are futures positions of non-commercials as of July 5, 2016. Change is week-over-week. 10-year note: One can make a cogent argument that U.S. sovereign bonds are in a blow-off phase. Since late May through the Friday high, TLT, … Continued
The following are futures positions of non-commercials as of June 28, 2016. Change is week-over-week. 10-year note: On Friday last week and Monday this week, the S&P 500 index lost 5.3 percent, the 10-year Treasury yield lost 29 basis points … Continued
Equity bulls put the foot down where they could possibly have. Support at 1990 on the S&P 500 large cap index was defended on Monday (Chart 1). This followed a post-Brexit 5.3-percent dive in just a couple of sessions. Using … Continued
The following are futures positions of non-commercials as of June 14, 2016. Change is week-over-week. 10-year note: In Godfather III, Michael Corleone famously says: “Just when I thought I was out, they pull me back in.” Given the circumstances, this … Continued