Intraday Update – Pre FOMC Minutes
1:44 p.m. ET Conviction is lacking ahead of the FOMC Minutes release for the June 14-15 meeting at 2:00 p.m....
Early Update – Slow and Defensive Start, Waiting on FOMC Minutes
10:34 a.m. ET It’s a pretty quiet start for most of the averages in mixed and little changed trade. Small...
Afternoon Update – Recession Trade
3:39 p.m. ET The slow slog of S&P > $3800 has been led by the mega-caps, apparent in NASDAQ-100’s outperformance,...
Recession Trade On – Mega-Caps Outperforming
12:27 p.m. ET The market is squarely focussed on recessionary fears, although I’d be shocked if we weren’t already in...
Afternoon Update
The S&P and Dow are hanging around levels I mentioned earlier as potential op-ex price pins. The two averages haven’t...
Market Update – Short Covering and Mega-Cap Strength
12:48 p.m. ET Around the last update, stocks fell, short term yields rose and the Dollar rose. This was due...
Early Update
10:24 a.m. ET The averages are struggling around the small intraday bear flags from yesterday. Conditions are fair for equities,...
Afternoon Update – Short Covering
3:51 p.m. ET I’m seeing some short covering in the Most Shorted Index and that “should” be helpful to Small...
Market Update – Stocks Sharply Lower, But Supportive Factors in Place
2:23 p.m. ET The averages are a bit lower since the last update. SP-500 -3.5%, Dow -2.5% (Transports -3.55%), NASDAQ-100...
Copper : Gold Ratio
11:04 a.m. ET As I thumbed through futures for the Early Update I noticed Copper futures down -2.65%, while Gold...
Early Update
10:30 a.m. ET The averages gave up all of yesterday’s afternoon gains and then some to push all of the...
Yields Dropping, Mega-Caps Pulling Ahead
3:15 p.m. ET The U.S. Dollar is down -0.5%, the 2-year yield is down almost 22 bp and 10-year yield...
FOMC Hikes By +75 bp
2:34 p.m. ET The Fed raised rates by +75 bp to a target range of 1.5% to 1.75%. This is...
JP Morgan’s View Of Today’s Fed Rate Hike & Potential Outcomes
I’m not sure I agree with all of this, and as I’ve mentioned numerous times in the past, beware the...
Early Update – Mega-Caps Carrying Their Weight
10:27 a.m. ET Not a bad start for the averages at all.As seen hints of yesterday, the mega caps are...
Speculative Bet on Mega-Caps and A Less Hawkish Fed Than Priced In?
1:39 p.m. ET The market is having to adjust to rapidly shifting rate-hike expectations. According to the CME’s FedWatch Tool,...
Intraday Update – Yields rising, but Mega-Caps OK
11:47 a.m. ET Stocks were set for and opened with a 1-day oversold (internals) dead cat bounce, but have had...
Early Update – Choppy Lateral Price Action
10:31 a.m. ET The major indices all opened higher but the early trading action is choppy, leaving the indices vacillating...
Afternoon Update
While the indices are off their lows, there still hasn’t been much of a rush to buy the weakness with...
Intraday Update
1 p.m. ET The major indices are holding above their session lows and Small Caps above the May low. The...