SPY Getting Uglier
Over the last 20 minutes or so, SPY’s 3C has been nosediving. SPY (1M) Looks like it wants to head...
AI Cost Concerns Back in Focus
A Chosun Biz article reported that SK Hynix is slowing the ramp-up of HBM4 (next-generation high-bandwidth memory for AI, particularly...
A.M. Update
S&P futures are down -1.4% and Nasdaq-100 down -3%. Memory names such as Micron (MU -9.4%), which reports earnings after the...
Mixed Start to the Week: Mega-Cap Weakness Offsets Iran Deal Tailwinds as Yields Rise Again
The major averages opened this full trading week (sandwiched between two holiday-shortened ones) mostly lower, as tailwinds from the U.S.-Iran...
Afternoon Update
This is a quick, but meaningful observation. The major averages are near session lows, as yields are near or at...
Semi 3C Update
There’s some interesting activity on Semis 3C charts. I’ll let them speak for themselves… SMH (1m) This chart caught my...
Mostly Mixed and Little Changed: Semis Provide Support, While Mega Caps Drag on the Market, And Yields Trend Higher
Continued mega cap weakness overshadows broader market participation. In the meantime, yields are quietly creeping higher after having held key...
A.M. Update
S&P futures are flat after the holiday weekend. Semiconductors are higher, while Magnificent 7 stocks were mostly weaker (especially TSLA...
Afternoon Update
Referencing yesterday’s forecast for today: “$7500 has once again become a key near term pivotal level, but it seems like...
$7500 Op-Ex
From yesterday: ” $7500 has once again become a key near term pivotal level, but it seems like a high...
A.M. Update
S&P futures are up +0.9% this morning, nearly retracing yesterday’s knee-jerk lower. WTI crude oil futures are down -2%, though...
“Higher for Longer” Confirmed: Hawkish Warsh Sparks Risk-Off Move
*This is an important update. I have a lot of good stuff for you. After spending the first half of...
Afternoon Update
The market’s take on the Fed=Very Hawkish. The U.S. Dollar Index is up +1%, that’s a huge move, and it’s...
Hawkish FOMC
Rates left unchanged as expected by a vote of 12-0, no dissents. Policy Statement DRAMATICALLY Shorter. Fed Removes “Easing Bias”...
FOMC Drift
A modest rebound in tech names is offsetting broader market weakness as the market rolls into the Fed this afternoon....
A.M. Update
S&P futures are up +0.1%, drifting modestly higher in front of the Fed this afternoon. Yields are mixed and very...
Sharp Tech Reversal: Semis Give Back All of Monday’s Gains and More
The S&P and Nasdaq-100 have done exactly as forecasted last Thursday, Chart & Excerpt: SPX (30M) A bounce here makes...
Afternoon Update
SOX’s most prominent feature today is a small double top with what looks like a reasonably high probability bull trap...
SOX Double Top?
3C was onto something yesterday, even as stocks rallied on MOU enthusiasm, the indicator suggested institutional money was selling into...
Relief Rally on U.S.-Iran MOU: Tech, Semis and Mega Caps Lead, But Weak Breadth and AI Risks Cast a Shadow
The stock market kicked off a holiday-shortened week with a sharp rally, as a signed MOU between the U.S. and...