Ready, Aim, Aim, Aim… Warsh’s Fed Leaves Markets Unimpressed
Wednesday was a dull day with a dull Fed. Equities did exactly what was expected: a low-volatility, modest FOMC Drift...
Afternoon Update
The major averages continue to drift sideways near their unchanged levels into the close, with the exception of Dow Transports...
Fed Leaves Rates Unchanged; Two Dissents
No change to the Fed Funds rate. There were two dissenters preferring to hike by 25 bp at this meeting....
FOMC Drift
A blowout earnings report from South Korea’s SK hynix Inc. (SKHY +12.5%) sent index futures higher in pre-market, but most...
Tech Leads as Semis Bounce; Broadcom Backstops Anthropic’s $63B Chip Deal
The stock market finished mostly higher on Tuesday, extending Monday’s rebound as a renewed enthusiasm for AI-related stocks fueled another...
Afternoon Update – SOX Fills the Gap, 3C Moves
I was waiting to see how this would play out. SOX Index (5M) filling last Thursday’s gap down. And...
Market Update – Tech Leads with Semis’ Support. Broadcom Guarantees Most of Anthropic’s $63B Chip Deal!
So far it has been a fairly quiet Tuesday with the market looking a lot like Monday and working on...
Rotation to Tech
Stocks opened higher Monday after the weekend passed without escalation in the U.S.–Israel conflict with Iran. Oil prices pulled back...
Market Update – More of October’s Same
The averages are advancing or bouncing, led by technology with strength in semiconductors. The bounce is either off, or into...
A.M. Update
S&P futures are higher by 0.3%, with Nasdaq-100 futures leading at +0.55%, continuing the two-week pattern of daily rotations between...
Afternoon Update -Semis and Energy
The two things that have stood out to me today are 1) Semis bouncing into former technical support, now presumed...
Special Update – Energy Charts
I’m going to keep checking on the market today, and doing my normal usual rounds, but there is something has...
A.M. Update
S&P futures are down -0.5%, while Dow futures lag by -1% after holding up better yesterday. OpenAI is targeting a...
Bonds Catch a Massive Safe Haven Bid as AI and Tech Go Risk-Off
First, I want to say that I feel 95% certain that the negative 3C divergences that I saw in QQQ...
Weak 3C Signals in QQQ Yesterday & AI Crashing Out Today
*Some charts/price-percent change may be slightly off as the environment is fast moving. It’s an ugly day for AI-related names....
A.M. Update
S&P futures are down -1% and Nasdaq-100 futures are down -1.7%. The AI trade has swung from risk on to...
Someone Was Already Selling the Days Leaders BEFORE the Gulf News Dropped
The week’s tone has been a rotation between Tech one day, then defensive (and some cyclicals) the next, then back...
Rotation and a Phantom 3C Signal
The AI trade is back in rotation today following strong results from SpaceX (SPCX +7.25%) and Super Micro Computer (SMCI...
A.M. Update
S&P futures are up +0.3% and Nasdaq, +0.6%. Enthusiasm surrounding earnings reports from SpaceX (SPCX +7.85%) and Super Micro Computer...
AI Buildout vs. Higher for Longer: A Regime Shift in Rates Meets the AI Buildout
The averages didn’t move much from technical and price support levels talked about in yesterday’s market wrap. Participation improved as...