Early Update – Crowding Back Into Crowded Trades
11:42 a.m. ET After a week and a half of slowly moving out of the concentrated leadership names, Nvidia’s results...
FOMC Minutes – Cautious and Leaning, “Higher For Longer”
3:13 p.m. ET I had to take a moment and see how the market would shake-out after the FOMC initial...
FOMC Minutes Coming; Yields Trending Higher
1:19 p.m. ET I don’t know that there will be any surprises in the FOMC minutes from the late January...
Early Update – Value Over Growth
11:32 a.m. ET Stocks are modestly building on yesterday’s declines and for the same reason – nervousness ahead of Nvidia’s...
Afternoon Update
Very little has changed since this morning. Most of the selling focus is on mega-caps, growth and semis – or...
SPX – VIX Positive Correlation Rising Toward Signal Level
1:12 p.m. ET It’s pretty much more of the same with a slight lower low in the averages since the...
Early Update – Tech, Mega-Caps and Semis Under Pressure
10:32 a.m. ET It seems quite clear what the market is nervous about given the weakness in stocks while the...
Market Update – Changes in Character
3:15 p.m. ET It has mostly been a slow-going day; probably op-ex related, but we’re also seeing some of the...
Early Update – Op-Ex Influences
11:18 a.m. ET Since the open, University of Michigan Consumer Sentiment Index for February came in at 79.6 , under...
Afternoon Update
It looks like Tuesday’s gaps are mostly all either filled or will be filled with maybe an exception here or...
Early Update – The Goldman Trade
12:10 p.m. ET Mega-caps are out of favor today, but many other stocks are trading higher with Small Caps continuing...
Afternoon Update
***This post was supposed to go out at 3:41 p.m. ET. I just saw that it did not publish. ...
Early Update
11:57 a.m. ET So far everything looks pretty much as I’d expect for the extent of yesterday’s short-term oversold dynamics....
Supplemental
After running through the charts near the close, I stand by most of what’s in the last post, except I...
Afternoon Update – Quick Take
I’m going to give you some quick-takes of how I think things are likely to play out. Of course we’ll...
Quick Update – Session Lows
2:21 p.m. ET The U.S. Dollar Index, which has been consolidating in a very clearly bullish pattern in the cash...
Watching Intraday Price Action – Potential Bear Flags Intraday
1:01 p.m. ET All 11 S&P sectors are lower from -0.3% to -2.3%. The worst performing sectors are Rate sensitive...
Early Update – The Crack in the Dam
11:09 a.m. ET Several charts have been quietly coming together that suggested the highly concentrated market positioning in rate sensitive...
Afternoon Update
If you saw the last post, it almost seems as if Goldman Sachs is top-ticking the mega-cap run of 2024,...
Intraday Update – Goldman Sours on Momentum Consensus Tech Trades
2:29 p.m. ET This afternoon the S&P tumbled from session highs to near session lows. The Tech-heavy NASDAQ-100 tumbled to...