Afternoon Update
As I talked about yesterday and wrote earlier today, with nothing to hedge, no economic data, amid light volume and...
A Green Christmas
1108 a.m. ET Today’s session marks the official start to the “Santa Claus Rally” period (last five trading days of...
Daily Wrap – December 2022’s Antithesis?
Stocks traded in thin conditions ahead of the Christmas / Santa Rally period. The averages ultimately closed mixed, but with...
Afternoon Update
Volatility gauges across the board (VIX -8%, VXN -10.8% and VVIX -7.6%) are trending lower as I, nor the market,...
Intraday Market Update – Yields as a Headwind
3 p.m. ET With all other things equal — which may be a stretch going into a half-day holiday shortened...
Market Update & Weekend Research Findings
109 p.m. ET First let’s deal with the market today, then below I’ll touch on some of the observations from...
A.M. Update
S&P futures ae down -0.2%. Many market participants are in vacation-mode in front of this week’s holiday-related closures. The NYSE...
Afternoon Update – Patience Pays
Stocks have been energized in part by the price action in Treasuries, which follows the release of the Personal Income...
Market Update
107 p.m. ET It has been quite a day so far with a little of everything in the stew: dovish...
A.M. Update
S&P futures are down -0.6%, led lower by Nasdaq-100 futures (-0.85%) on this $6.5 trillion triple witching options expiration day...
Daily Wrap – Live and Die By The Mega Caps in December
The stock market started the session modestly stronger after the major indices registered sharp declines yesterday in response to the...
Afternoon Update
No surprises today based on what I laid out in the second post of the day. Most of the averages have...
Market Update
214 p.m. ET The stock market has exhibited mixed action today. There was an initial burst of buying activity after...
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...
A.M. Update
S&P futures ae up +0.7% in what’s looking like a bearish flag consolidation, which can work off the strong oversold...
Daily Wrap – Uncertainty
The first half of the day was slow with a positive bias (FOMC drift). There’s not much to talk about...
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...