Afternoon Update – Beige Book Not So Optimisitc
The Fed’s Beige Book is out this afternoon ahead of tomorrow’s Q2 GDP (recall Q1 GDP slid to 1.6% from...
Early Update – Higher Rates Causing Oversold Internals
12:17 p.m. ET It’s odd to watch how long it takes investors to react to something that happened yesterday with...
A.M. Update
S&P futures are down -0.75% and NASDAQ-100 futures down -0.9%, pressured by rising market rates. The 10-yr yield is up...
Daily Wrap
The stock market exhibited mixed action today. There wasn’t a lot of conviction from buyers or sellers after the holiday...
SPX Bottom of Range
2:57 p.m. ET Higher oil and Treasury yields are weighing more heavily on the equity averages as the day goes...
Yields Higher – More Solid Breakout – After Poor 2-Yr Treasury Auction
1:17 p.m. ET Earlier today oil prices breaking out of a downward sloping corrective 6-week channel helped to cause the...
Early Update – Interesting Timing
12:04 p.m. ET I haven’t forgotten or dismissed Thursday’s SPX Key Reversal Day price candle. I’m watching the next day...
A.M. Update
Stock futures indicate a mixed open for the major indices on the first session of this holiday-shortened week. S&P futures...
Afternoon Update
As expected in the Early Update, the S&P has been hanging around $5300 most of the session. It probably closes...
Early Update – Follow Through on Key Reversal Day As Expected
12:35 p.m. ET This morning we are getting exactly the kind of 1-day oversold internals bounce expected, but more than...
A.M. pdate
S&P futures are up +0.35% Markets will be closed on Monday for Memorial Day. The activity in Treasuries has been...
Daily Wrap – Key Reversal Day
I have to wonder whether Nvidia’s blowout earnings — the market’s fulcrum event of the week — just became a...
More Key Reversal Days & Bearish Engulfing Candles
3:14 p.m. ET Beyond the SPX and NDX… SPX NDX We also have the Technology sector… Tech (daily) The mega-cap...
Getting Uglier With Key Reversal Days
2:30 p.m. ET You might think NVidia’s beat would send markets soaring higher. I’d assume the same in a vacuum,...
Early Update – Risk Of Failed Breakouts
1:02 p.m. ET Nvidia is surging and the market has support from semis and mega-caps, but the rest of the...
A.M. Update
S&P futures are up +0.7% and NASDAQ-100 are up +1.2% (Doe +0.15%) following NVIDIA’s (NVDA) impressive earnings results. NVDA shares...
Daily Wrap – The Fed Is More Worried About Inflation Than Portrayed, and Nvidia BEATS
The market exhibited mixed action again, almost frozen most of the day until the FOMC minutes were released. The hawkish...
Market Update
We’re going to look at a few different price trends as the FOMC didn’t help stocks, and we have Nvidia...
Fed Minutes Hawkish
2:33 p.m. ET The minutes from the May FOMC are out and they are more hawkish than expected. The bottom...
Early Update: Equity Markets Flat and Frozen & Commodities Broadly Lower
11:55 a.m. ET There’s a negative bias in early trading, but true to this week’s form, there’s not a lot...