Daily Wrap – Gold Another New Record High
Strong gains in index futures before the open gave the impression that today would be a decent day for the...
Coming Down
2:53 p.m. ET Just about everything is coming down this afternoon, whether the averages… SPX (5m) NDX (5m) Or the...
Market Update – Resistance Zones and Gold Set To Make Another Record High
1:12 p.m. ET Yesterday printed 1-day overbought internals. This morning Index Futures were off to a strong start, but that...
A.M. Update
S&P futures are up +0.5% and Nasdaq-100 +1%. Taiwan Semiconductor Manufacturing (TSM) shows a big pre-open gain after better-than-expected earnings...
Daily Wrap
As I pointed out earlier today, there seems to be a rotation attempt in both defensive sectors and Small Caps,...
Market Update – Rotation and Bearish Consolidations
3:30 p.m. ET It seems to me that we’re seeing the return of the Defensive trade and an attempt to...
A.M. Update
Most Index futures are flat. Russell 2000 futures are up +0.7%. Morgan Stanley (MS) and United Airlines (UAL) have both saw...
Daily Wrap -Tech Wreck
Semis dragged the market lower this morning; first after a Bloomberg report that the Biden administration is looking at curbing sales...
A.M. Update
S&P and NDX futures are flat, Dow is down -0.2% and Small Caps -0.3%. Investors are digesting earnings results from...
Daily Wrap
The S&P and Dow closed at new record highs on this Columbus Day holiday, even as the Dollar was higher...
Afternoon Update – 3C trends the same
Earlier today I showed the 3C trends with negative divergences in SPX and NDX on gains above the post-FOMC range,...
Market Update
12:54 p.m. ET There broad S&P sector performance, b Earlier, decliners led advancers by an 11-to-10 margin at the NYSE...
A.M. Update
S&P futures are up +0.25% wit some leadership coming from large-cap Tech. The bond market is closed for Columbus Day....
Strange Signals Are Back
After a pretty much flat week last week, this week all of the averages gained a similar amount. The S&P READ MORE
Strange Signals Appearing Again
After a pretty much flat week last week, this week all of the averages gained a similar amount. The S&P...
Afternoon Update
Gold futures settled +1.4% higher to $2,676.30/oz, climbing out of the red on Friday to end higher by about +0.3%...
Banks Support The Market; ABI < 14; Gold Starting Breakout
12:55 p.m. ET The preliminary October University of Michigan index of Consumer Sentiment slipped to 68.9 (consensus 71) from the...
Absolute Breadth Index (ABI) Below 14
11:16 a.m. ET Just a quick note – the ABI is sitting around 12.50, which is below the signal level...
A.M. Update
S&P futures are little changed (-0.05%). Nasda1-100 are down -0.3%. Tesla (TSLA -6.65%) is sharply lower ahead of the open...
Daily Wrap – Gold Looks Ready For A Breakout Attempt
There was a negative bias in the stock market through the entire session after probabilities favored 1-day overbought internals yesterday....