Market Update
2:54 p.m. ET After giving back sizeable opening gains as yields rose and the 10-year yield breached the psychologically important...
Early Update – Yields Making Their Effect Felt
12:01 p.m. ET Last night when index futures were already up more than half a percent, I said I’d prefer...
Afternoon Update
The averages have been pretty much sideways in consolidation patterns around resistance levels, so from a purely price/technical view, all...
Intraday Update – Price consolidations, The Dollar and Treasuries Influence
1:42 p.m. ET The averages are sitting around last week’s highs and near intraday highs. Small Caps and NASDAQ-100 continue...
Early Update – Trading near the “W” base upper trend line, meeting resistance
11:10 a.m. ET Yields are trading around that big up trend line – a break of which is exactly what...
Afternoon Update
Quite a week, or at least a Thursday with the 5th biggest intraday reversal on record. To put that in...
Intraday Update – Consolidation Taking Shape?
2:10 p.m. ET As mentioned yesterday and earlier today, 2 of 3 internals conditions for 1-day overbought internals were very...
Early Update
11:58 a.m. ET SP-500 -1.6%, Dow -0.7% (Transport -1.3%), NASDAQ-100 -2.1%, Small Caps -1.8% Looking at price action too closely,...
Afternoon Update
3:55 p.m. ET Well it has been one heck of a day in the markets. Tonight’s post won’t be as...
Market Update – Amazing turnaround
2:57 p.m. ET A hotter-than-expected reading for the September Consumer Price Index (CPI) precipitated losses of -2.4%, -3.2%, and -1.9%...
Early Update – Pretty Amazing Resilience and Rebound in Stocks.
12:24 p.m. ET The market is showing some surprising resilience in the face of a horrible CPI (inflation) reading. This...
Breaking Down the CPI – Inflation Moves From Goods To Services
10:40 a.m. ET I recall the days when CPI reports were about as bland as the weekly Initial Claims, but...
Afternoon Update
In summary, it’s been a dull, low conviction day of trade. That low conviction ahead of the FOMC minutes release...
Quick follow-up to FOMC Minutes Post
2:41 p.m. ET This is a quick follow-up to the post out just minutes ago, FOMC Minutes As soon as...
FOMC Minutes
2:35 p.m. ET The general theme of the minutes, consistent with Fed policy, could be, “Many participants emphasized that the...
Intraday Update – Pre FOMC Minutes…
1:50 p.m. ET In the Early Update I characterized the morning trade as lacking conviction and despite most of the...
Early Update – Low Conviction, But Mega-Caps Providing Support
11:15 a.m. ET Equity futures fell from their highs following the September PPI report. The takeaway from the report is...
Afternoon Update
The major averages, that were starting to consolidate constructively near session highs, are now near session lows after comments from...
Market Update – Something Just Happened.
*This post was meant to cover intraday dynamics, but in the middle of writing it, there was a change that...
Intraday Update -Averages Near Best Levels of the Day
1:04 p.m. ET The averages sit near their best levels of the day. Helping the rebound effort is a -0.5%...