Afternoon Update
NASDAQ-100 is the first of the majors that’s challenging last week’s highs so it’s going to be interesting very soon....
Early Update – Decent Start With Improving Participation
10:48 a.m. ET The averages are off to a decent start. NASDAQ-100 is outperforming as the mega-caps keep up a...
Afternoon Update
All of the major averages have climbed to new session highs since the last update, with the exception of Transports...
FOMC Minutes Update
2:53 p.m. ET As expected, the FOMC minutes reveal a Fed worried about inflation. Many participants judged that a significant...
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,...