Afternoon Update – Reading the Tea Leaves
Since the last update expecting Small Caps to test Monday’s low and the S&P, Dow to follow NASDAQ-100 and test...
Test of Flags
1:29 p.m. ET Intraday price action remains volatile. Each of the major indices started the session up between 1.6-1.8% in...
Early Update
11:06 a.m. ET As touched on in the overnight section of last night’s Daily Wrap looking at Treasury futures, yields...
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...