Establishing Probabilities and What to Lookout For Next
1102 a.m. ET While it’s too early to know anything definitive from early price action this morning, the market is...
Hawkish Cut & Increased Uncertainty
3:53 p.m. ET I’ll have to address some of the particulars in the Daily Wrap considering the time I have...
Fed Cuts by 25, Dot Plot Up, Inflation Forecast Up
2:15 p.m. ET The Fed cut by 25 bp with 1 dissent. Cleveland’s Hammack preferred to leave the FFR where...
Pre-FOMC
It’s pretty typical FOMC Drift trade (modest positive bias into FOMC) ahead of the FOMC decision at 2:00 ET and Fed...
Early Update – FOMC Drift
11:44 a.m. ET A slow start indeed, typical of the FOMC drift. Value an Growth style factors are nearly the...
Market Breadth Horrible Again
December second kicked off a “rotation” of sorts. At first I wasn’t sure if it was a rotation to Growth...
Early Update – Year End Window Dressing
12:02 p.m. ET Mega Caps and Growth style factors are taking a minor break this morning, but that hasn’t stopped...
Afternoon Update – Mega Caps, Breadth and Retail Investors All At Extremes
The market is following the last 2 weeks playbook – to ride mega caps through year-end at the expense of...
Small Cap, Oversold Channel Buster
1:06 p.m. ET If you haven’t already, see my Early Update recapping Friday’s Afternoon Update. On the face of things,...
Sneaky Crude Prices
10:54 a.m. ET WTI crude oil has been chopping around in a range so long, it’s easy to fall into...
Early Update – Small Cap Squeeze Coming?
10:24 a.m. ET I want to set the stage with Friday’s Afternoon Update with regard to Small Caps this week....
Afternoon Update – Oversold and Reflationary
Early gains at the index level led by Broadcom (AVGO) dissipated in the face of rising rates (progress on inflation...
Market Update – Higher Yields Spoil The Party
142 p.m. ET Broadcom (AVGO +20.6%) was the story stock of the day, lifting S&P and NDX index futures. That’s...
Quick Market Overview Into Year End
1047 a.m. ET A lot of what I’m writing below is going to be familiar, but I think it’s important...
Afternoon Update
This morning I felt a little overwhelmed with several moves that seemed like mini-fires to be examined and extinguished, such...
UnitedHealth Group Continues To Plunge
1:59 p.m. ET This morning a few areas felt like they were on fire, and some haven’t resolve yet. WTI...
WTI Stop Run
12:26 p.m. ET Sometimes time is all you need. WTI Crude’s earlier plunge that I mentioned on volume as it...
Early Update
11:37 a.m. ET It’s a messy morning in a few areas. It seems like there’s a half-dozen fires in the...
Afternoon Upate
As we head into the close with the SPX below $6100, Semis are coming off session highs along with the...
Intraday Market Update – Mega Caps and Mega Caps Alone
I today’s market action can be summed up in two words, it’s very easy – Mega Caps. There’s the only...