Daily Wrap
When I looked at S&P futures this morning in pre-market they were up +0.6%, with tech-heavy NASDAQ-100 futures doing quite...
Afternoon Update
Nothing has changed since the last update. With these small bodied daily candles in the SPX. NDX and DJIA, they’re...
Intraday Update – No Longer Short Term Oversold
1:55 p.m. ET Most of the averages are well off session highs except Transports. We may see more short covering...
Early Update -Shorts Getting Pinched, Mega-Caps Losing Momentum; An Unusual VIX Signal Developing
11:58 a.m. ET Friday was a HUGE options expiration and dealers were caught short calls. The S&P jumped to a...
A.M Update
S&P futures are up +0.3%. Ongoing strength in tech stocks has supported the positive bias this morning as earnings season...
Afternoon Update
$3.4 trillion worth of options expired today. $1.0 trillion notional of single stock options expired today. It’s the largest since...
URA Consolidation
3:39 p.m. ET It’s not a perfectly parallelogram, but it’s close enough that I’d call this a bull flag. URA...
Intraday Update
3:32 p.m. ET Dealers got caught short a huge amount of calls into today’s options expiration and all it took...
Early Update
1:38 p.m. ET Apologies for the late post, but I finally got to talk to a software engineer on the...
A.M. Update
S&P futures are up +0.4% heading into today’s options expiration. Ongoing strength in mega cap and semiconductor stocks has boosted...
Daily Wrap – Ginger Bread Houses
The stock market put in that oversold bounce I was looking for today. Tuesday the market went short-term oversold and...
Afternoon Update -Small Caps May Bounce Next
3:43 p.m. ET The oversold bounce may have more to go, but the divergent scenarios mentioned last night and in...
Bitcoin Testing Below $42k
12:58 p.m. ET From last night’s Daily Wrap, “I didn’t like what I saw when Bitcoin tested $42k and honestly,...
Early Update – Ducks in a Barrell
12:05 p.m. ET The market oversold bounce is going exactly as I hoped and expected. Really it’s just the NASDAQ.,...
A.M. Update
S&P futures are up +0.25% and up +0.4% around 8:00 a.m. ET. The latest batch of earnings news has received...
Daily Wrap – Mega Caps Save The Day
We had a strong 1-day oversold signal in internals yesterday, but the popping of the rate cut bubble’s narrative took...
Market Update – Ugly, But Hoping For Short-Term Oversold Conditions To Kick In
3:02 p.m. ET While the 10-year yield seems to have topped for the day, the Fed-rate sensitive 2-year yield keeps...
Early Update
12:13 p.m. ET As I was saying in last night’s Daily Wrap, I don’t think the market is wrong about...
A.M. Update
S&P futures are down -0.65% amid higher rates again this morning. The 2-yr yield, which is most sensitive to changes...
Daily Wrap – Ugly, But Probably 1-Day Oversold
Thus far all of 2024 we’ve observed the market trying to find it’s feet and find a theme and falling...