Early Update
11:57 a.m. ET So far everything looks pretty much as I’d expect for the extent of yesterday’s short-term oversold dynamics....
A.M. Update
S&P futures are up +0.4% this morning. The UK’s CPI came in cooler than expected, helping index futures overnight sentiment....
Daily Wrap – More Cracks
The CPI repot ended up being influential (coming in hotter than expected), influential enough to send the Dollar and 10-yr...
Supplemental
After running through the charts near the close, I stand by most of what’s in the last post, except I...
Afternoon Update – Quick Take
I’m going to give you some quick-takes of how I think things are likely to play out. Of course we’ll...
Quick Update – Session Lows
2:21 p.m. ET The U.S. Dollar Index, which has been consolidating in a very clearly bullish pattern in the cash...
Watching Intraday Price Action – Potential Bear Flags Intraday
1:01 p.m. ET All 11 S&P sectors are lower from -0.3% to -2.3%. The worst performing sectors are Rate sensitive...
Early Update – The Crack in the Dam
11:09 a.m. ET Several charts have been quietly coming together that suggested the highly concentrated market positioning in rate sensitive...
A.M. Update
S&P futures are down -1.35% on a hotter than expected CPI print. NASDAQ-100 futures are down -1.8%, but Russell 2000...
Daily Wrap – Goldman Might As Well Have Said, “Sell”
Index futures were flat this morning after Asia was closed for trading with the Lunar New Year this week, and...
Afternoon Update
If you saw the last post, it almost seems as if Goldman Sachs is top-ticking the mega-cap run of 2024,...
Intraday Update – Goldman Sours on Momentum Consensus Tech Trades
2:29 p.m. ET This afternoon the S&P tumbled from session highs to near session lows. The Tech-heavy NASDAQ-100 tumbled to...
Early Update – Small Caps Outperform Amid An Ongoing Short Squeeze
11:26 a.m. ET The major averages have improved since their flat open, but they’re not doing anything too out of...
A.M. Update – Flat Open
S&P futures are little changed (-0.05%). The market is lacking directional drivers this morning, but this week’s calendar features some...
Afternoon Update: Quick Look at 3C
3C cumulates a lot of price/volume data according to whether price closed up or down, and whether volume was up...
Market Update
3:10 p.m. ET Market breadth has improved since this morning as the FOMO instinct kicks in. There are now 8...
Early Udate – SPX >5,000, But Wow Is Participation Weak
11:05 a.m. ET Index futures gapped the market higher and the S&P above 5,000 (although it was less than a...
A.M. Update
S&P futures are up +0.25% right now, so the index should finally reach the 5,000 mark at the open. The...
Daily Wrap
It was a pretty darn dull day for most of the market. The S&P’s entire high to low intraday range...
Afternoon Update: Testing 1, 2, 3?
The S&P made another close call, within 32 cents of 5,000, or about 0.01%, but didn’t make it. SPX (1m)...