U.S. equities had a powerful session on Tuesday, followed by another good session on Wednesday. Volume could have been a little better on major U.S. indices but price spoke loud and clear. The Nasdaq 100 surged 2.1 percent on Tuesday, … Continued
Equity bulls are putting down their foot, and have near-term momentum on their side so long as 2040 on the S&P 500 is not lost. Off the April 20th high through last Thursday’s intra-day low, the S&P 500 lost four … Continued
The following are futures positions of non-commercials as of May 17, 2016. Change is week-over-week. 10-year note: More jawboning this week! Last week, three regional bank presidents – Eric Rosengren (Boston), Loretta Mester (Cleveland), and Esther George (Kansas City) – … Continued
Today completes one year since the S&P 500 large cap index made an all time high of 2134.72. On this anniversary, U.S. stocks’ near-term outlook is not as clear as is probably its medium-term. In the medium term, major indices … Continued
A week ago last Friday, U.S. stocks opened lower reacting to less-than-expected rise in April’s non-farm payroll. As the session progressed, bids showed up, as traders began to price in lesser odds of a rate hike in June. Turns out … Continued
The following are futures positions of non-commercials as of May 10, 2016. Change is week-over-week. 10-year note: Three FOMC voting members were on full jawboning mode on Thursday. Eric Rosengren, Boston Fed president, said markets are underestimating the likelihood of … Continued
In all five sessions last week, spot VIX got rejected at 16.50, which at the time also approximated the upper Bollinger Band. This is not any plain-vanilla resistance. It goes back two decades. More often than not, once VIX convincingly … Continued
The following are futures positions of non-commercials as of May 3, 2016. Change is week-over-week. 10-year note: Last week, the Bank of Japan shocked markets by not adding to its stimulus program. The yen jumped 2.4 percent. This week, the … Continued
The following are futures positions of non-commercials as of April 26, 2016. Change is week-over-week. 10-year note: Two different central-bank meetings, and two different market reactions this week. Haruhiko Kuroda, Bank of Japan governor, has a habit of surprising the … Continued
With five sessions to go in April, the Nasdaq 100 index (4474.19) is down 0.2 percent, while the Russell 2000 small cap index (1146.69) is up 2.9 percent. Last week made a big difference, as the former was down 1.5 … Continued