Afternoon Update – Patience Pays
Stocks have been energized in part by the price action in Treasuries, which follows the release of the Personal Income...
Market Update
107 p.m. ET It has been quite a day so far with a little of everything in the stew: dovish...
Afternoon Update
No surprises today based on what I laid out in the second post of the day. Most of the averages have...
Market Update
214 p.m. ET The stock market has exhibited mixed action today. There was an initial burst of buying activity after...
Establishing Probabilities and What to Lookout For Next
1102 a.m. ET While it’s too early to know anything definitive from early price action this morning, the market is...
Hawkish Cut & Increased Uncertainty
3:53 p.m. ET I’ll have to address some of the particulars in the Daily Wrap considering the time I have...
Fed Cuts by 25, Dot Plot Up, Inflation Forecast Up
2:15 p.m. ET The Fed cut by 25 bp with 1 dissent. Cleveland’s Hammack preferred to leave the FFR where...
Pre-FOMC
It’s pretty typical FOMC Drift trade (modest positive bias into FOMC) ahead of the FOMC decision at 2:00 ET and Fed...
Early Update – FOMC Drift
11:44 a.m. ET A slow start indeed, typical of the FOMC drift. Value an Growth style factors are nearly the...
Market Breadth Horrible Again
December second kicked off a “rotation” of sorts. At first I wasn’t sure if it was a rotation to Growth...
Early Update – Year End Window Dressing
12:02 p.m. ET Mega Caps and Growth style factors are taking a minor break this morning, but that hasn’t stopped...
Afternoon Update – Mega Caps, Breadth and Retail Investors All At Extremes
The market is following the last 2 weeks playbook – to ride mega caps through year-end at the expense of...
Small Cap, Oversold Channel Buster
1:06 p.m. ET If you haven’t already, see my Early Update recapping Friday’s Afternoon Update. On the face of things,...
Sneaky Crude Prices
10:54 a.m. ET WTI crude oil has been chopping around in a range so long, it’s easy to fall into...
Early Update – Small Cap Squeeze Coming?
10:24 a.m. ET I want to set the stage with Friday’s Afternoon Update with regard to Small Caps this week....
Afternoon Update – Oversold and Reflationary
Early gains at the index level led by Broadcom (AVGO) dissipated in the face of rising rates (progress on inflation...
Market Update – Higher Yields Spoil The Party
142 p.m. ET Broadcom (AVGO +20.6%) was the story stock of the day, lifting S&P and NDX index futures. That’s...
Quick Market Overview Into Year End
1047 a.m. ET A lot of what I’m writing below is going to be familiar, but I think it’s important...
Afternoon Update
This morning I felt a little overwhelmed with several moves that seemed like mini-fires to be examined and extinguished, such...
UnitedHealth Group Continues To Plunge
1:59 p.m. ET This morning a few areas felt like they were on fire, and some haven’t resolve yet. WTI...