Early Update – Ugly Trade Getting Uglier
11:52 a.m. ET Powell reiterated his view from last week’s post-FOMC decision press conference over the weekend on 60 Minutes, saying that...
Market Breadth Is Stunningly Negative
The S&P 500 (+1.3%) and NASDAQ (+1.9%) are trading sharply higher thanks to a surge in shares of Meta Platforms...
Early Update Mixed Market on Strong Earnings, but Inflationary Payrolls
12:13 p.m. ET This morning’s market has been mixed and quite fluid. The two driving primary forces are strong earnings...
Afternoon Update
The market has more or less returned the the intraday bear flag levels/gap of yesterday just ahead of the FOMC...
URA – This Is What A Breakout Should Look Like
URA is up +6.2%, but not all breakouts can be trusted. They should see heavy volume (buying) on the breakout…...
Early Update – S&P and NASDAQ Hope Mega Cap Earnings Save Them, Small Caps Feeling Pressure From Banks
11:55 a.m. ET I think you’ll find the charts below interesting, especially if the rates/equity correlation has flipped as we...
Afternoon Update – Powell Pours Cold Water On March Rate Cuts
Considering how dovish Powell was in December, we just saw a LOT of walking back that dovishness. FOMC officials (12...
FOMC Hawkish-Leaning Statement
2:15 p.m. ET I’ve been saying that the bond, FX and credit markets are in disagreement with the equity market...
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...