Early Update – Mega Caps Getting Hit After Earnings, Despite Sharply Lower Yields
11:41 a.m. ET The market opened mostly lower. The S&P 500 and NASDAQ are pinned in negative territory by losses...
Afternoon Update
We’re less than 24 hours away from the FOMC. VIX has shown modest relative weakness most of the day, pretty...
URA Update
3:01 p.m. ET URA is up +1.85%. Price is coming off support of the 50-day sma yesterday… URA (daily) w/...
Early Update
11:58 a.m. ET This morning’s market is acting very typical for 1-day overbought internals yesterday, but I suppose the tone...
Afternoon Update – Treasury Borrowing Estimate Sends Stocks Higher; URA Looks Ready To Breakout
The market has been a pretty dull affair most of the day, although that’s pretty much the norm in earnings...
Early Update
11:35 a.m. ET This morning the market is flattish and mixed. It’s looking a lot like most days last week,...
Market Update – Semis Weak
2:39 p.m. ET Semiconductor-related names ae weighing on the NASDAQ and Tech sector after disappointing guidance from Intel (INTC -12.25%)...
Early Update – Semis Weak & Mega-Caps Flattish
11:30 a.m. ET The PCE inflation data really didn’t move the needle much for stocks and yields are modestly higher...
Afternoon Update
The NDX is a few cents from closing with a bearish engulfing candle or not. We’ll take a closer look...
Intraday Update – Crude Breaking Out
3:06 p.m. ET The S&P and NDX are just off session lows, despite a solid 7-yr Treasury auction that sent...
Early Update
12:04 p.m. ET This morning’s market data encouraged the “soft landing” camp and sent yields lower. Just as the 4...
Afternoon Update
The averages gapped up from overnight trade (PBoC RRR cut, lower yields, etc.), but it was apparent this morning that...
Market Update – Higher Yields Pressuring Stocks
2:56 p.m. ET A very ugly, near catastrophic 5-yr Treasury auction sent yields surging and that’s been weighing on the...
Early Update
11:40 a.m. ET This morning has a pretty much perfect storm of favorables for the market. Netflix and other Tech...
Afternoon Update
There’s not much to add to the last post. That little intraday pick up in 3C helped lift the averages...
Intraday Update
2:01 p.m. ET The S&P and NDASDAQ-100 are virtually unchanged, while Dow Transports and Small Caps lag behind after their...
Early Update – In “Wait & See Mode”
11:13 p.m. ET Economic data is light today with no tier 1 data. What we do have: The Richmond Fed...
Afternoon Update
Nothing has changed since the last update. With these small bodied daily candles in the SPX. NDX and DJIA, they’re...
Intraday Update – No Longer Short Term Oversold
1:55 p.m. ET Most of the averages are well off session highs except Transports. We may see more short covering...
Early Update -Shorts Getting Pinched, Mega-Caps Losing Momentum; An Unusual VIX Signal Developing
11:58 a.m. ET Friday was a HUGE options expiration and dealers were caught short calls. The S&P jumped to a...