Afternoon Update
The market’s response to the FOMC statement was “blah”, but hawkish during Powell’s presser. Powell is finally faced with the...
FOMC Knee Jerks Reactions
2:32 p.m. ET Not much change. Asset purchases (QE) to end in early March Start of a hiking cycle “soon”...
Pre-FOMC Market Update
1:27 p.m. ET The averages have settled in to a lateral intraday range holding gains. The FOMC is up next...
Maret Update – Rebounding, but Nothing Much Changed.
10:48 a.m. ET The averages got off to a good start, but have faded since the open. The S&P was...
Afternoon Update
Over the last hour or so most of the major averages put in another decent intraday rebound, not as spectacular...
Intraday Update – Yields Up, 3C Improving
1:50 p.m. ET SP-500 -1.05%, Dow -0.3%, NASDAQ-100 -1.95%, Small Caps -1.3% Two quick developments and their on opposite sides...
Early Update
11:15 a.m. ET This morning looks similar to yesterday morning in which retail unloaded a lot of shares before buyers...
Afternoon Update – Capitulation
There will be no Daily Wrap tonight. My girlfriend puts up with my late-night week work hours without complaint and...
Market Update – Capitulation Looking More Likely
1:47 p.m. ET The S&P entered what the blue-pill financial media calls a correction, down 10% from the highs. Meanwhile...
Early Update – Potential Capitulation Event
10:14 a.m. ET U.S. PMI’s came out after the open. Manufacturing PMI dropped from 57.7 to 55.0 (worse than the...
Afternoon Update
As I write this before the close, the averages have hit new session lows and the S&P is below its...
Market Update
3:01 p.m. ET It’s been a pretty slow-going, dull day thus far. The S&P continues to trade around its 200-day...
Early Update – S&P Testing 200-day, Yields sharply Lower
10:39 a.m. ET The S&P is testing its 200-day successfully and off session lows of -1.35%, at -0.3% The Dow...
Afternoon Update
What a change in tone. All of the averages were up, all 11 S&P sectors were up, now all with...
Intraday Update
2:02 p.m. ET From the averages’ perspective, not much has changed with the S&P and Dow still tangling with resistance...
Early Update – Growth Stocks Lead Rebound
10:40 a.m. ET The bounce is underway with yields relatively contained and consolidating. The S&P is facing its first test...
Afternoon Update
Stocks have had trouble rebounding even with lower rates. Yields are down 2-4 bp and from Treasury futures’ 3C charts...
Looking Better – Buying Some S&P For Quick Long Tade
12:438 p.m. ET For those who have expressed an interest in playing a bounce on the long side (my estimate...
Market Update – Yields Could be Opening a Window
11:42 a.m. ET The averages have largely given back overnight and early cash open gains. S&P went from a +0.8%...
Afternoon Update
The market has been under pressure all day as yields across the curve have spiked. The Fed sensitive 2-year yield...