Waiting On Trump’s Decision – Narrow Leadership, Negative Breadth, Peak Euphoria
Traders are waiting to see whether the U.S. and Iran can deliver the peace deal markets have priced in every...
Dash for Trash, Negative Breadth at Record Highs amid Re-Emerging War Correlation
Amid the chaotic geopolitical developments, the macro backdrop proved more constructive than expected. Oil prices remained surprisingly restrained despite escalating...
Afternoon Update
I had to start this post over. I found I was getting a little too deep into Software’s outlook as...
Intrada Update
Early trade has been driven by peace deal / MOU chaos. I’m using SOX as an example not because the...
A.M. Update
S&P futures are just a tick below unchanged. Overnight weakness is attributed to fresh U.S. strikes against Iran and reports...
After the Perfect Storm: A Flat Day Reveals Fading Momentum in Semiconductors
The stock market had a relatively quiet session Wednesday, but there were some notable areas that lacked the kind of...
SOX Into the Close
If there’s one chart worth watching into the close, it’s the Philly Semiconductor (SOX) Index. Internals are ugly with 25...
Market Update
Before the open, Iran’s state media released details of an unofficial draft MOU for an interim peace agreement with the...
A.M. Update
The Micron (MU) craziness lingers with yet another substantial target price hike, this time from Barclays, which raised the stock’s...
Today’s Theme Was SQUEEZE., But the Warning Lights Are Flashing
Optimism over a potential US-Iran peace deal (or MOU) intensified throughout the long Memorial Day weekend, with repeated signals that...
Quick Afternoon Update
A quick look around in what’s been a relatively quiet afternoon… Bitcoin (-1.7%) is notably lagging the Nasdaq, but the...
Market Update – Long Duration Bounce on Lower Oil/yields, With Huge UBS Upgrade to Micron’s Price Target
Over the three-day holiday weekend, a steady stream of “imminent deal” headlines drove WTI crude futures down as much as...
A.M. Update
The extended holiday weekend was choked full of headlines reflecting the contours of a 60-day memorandum of understanding deal emerging,...
Starting Semi Short
The averages have filled the gaps. SOX has filed the gap. That’s what I was looking for in terms of...
Gaps Filled
The oil suppression stories before the cash opens are getting silly at this point. Al Arabiya’s “Final Peace Deal Draft”...
A.M. Update
S&P futures are up from +0.2% to +0.4% over the last hour as WTI crude oil futures dip from testing...
Market Duped: Fabricated Iran Deal Headlines Drive Markets
Thursday delivered a barrage of conflicting headlines, a clear example of the short-term volatility that has dominated oil prices. Today...
Afternoon Update
What a crazy day of headline ping-pong. Around 1 p.m. Saudi’s AI Arabiya says it TV obtained what it describes...
Market Update
Oil and Yields are both higher this morning, thought choppy, which is in large part attributed to an earlier report...
Trump Jawbones Oil Lower as Markets Bounce into Holiday Weekend
Stocks were set for a bounce Wednesday anyway, but President Trump served up another signature Trump Pump, TACO Dump special....