Afternoon Update – Microsoft on Deck
The SPX’s, and more so the NASDAQ’s, price action doesn’t look good. Another sharp drop in the Dollar-Yen carry trade...
Tech Wreck – Carry Trade Chaos
1:57 p.m. ET There’s so much happening today ahead of MSFT earnings after the bell, it’s difficult to keep up....
A.M. Update
S&P 500 (+0.2%) and NASDAQ 100 (+0.3%) futures are higher, supported by gains in mega cap names. There’s still an...
Daily Wrap
Three major indices settled little changed from prior closing levels, continuing in the the latter part of last week’s consolidation...
Market Update
2:58 p.m. ET The S&P 500 (+0.1%), NASDAQ-100 (+0.15%), and Dow Jones Industrial Average (-0.1%) are off their best levels...
A Close Look At the Major Averages
12:00 p.m. ET Of course we don’t know what this busy week of earnings and data is going to bring,...
A.M. Update
S&P 500 futures are up +0.4% in early trading in front of a busy week. Earnings reporting picks up steam...
Afternoon Update
Next week is arguably the busiest week of the summer with 40% of S&P market cap reporting earnings and 4...
Another Test?
We have all 11 S&P sectors in the green and advancers a good 4-to-1 over decliners, but there’s a decent...
Early Update – May Be Getting The Structre
10:58 a.m. ET Earlier this week I talked about the market putting in some price structure that successfully tests lows...
A.M. Update Fed’s Favored Inflation Gauge A Little Hot
S&P futures are up +0.75% and NASDAQ +1% supported by pre-open gains in mega cap and semiconductor shares. US JUNE...
Daily Wrap – Still Deleveraging Large Cap Tech
After yesterday’s close at session lows, the averages had a weak start with NASDAQ-100 falling -1.65% in the first 45...
Afternoon Update
The averages have pulled back quite a bit off their best levels of the day. The NASDAQ-100 is back below...
One Day Oversold
12:40 In yesterday’s Daily Wrap Summary, I wrote, “there’s a strong argument for a weak open tomorrow. However, we also...
A.M. Update
S&P futures are flat. Weekly initial jobless claims totaled 235,000 (consensus 240,000) following a revised count of 245,000 last week...
Daily Wrap
Over the last month or so I’ve written many times that this earnings season has a higher bar to impress...
Afternoon Update
I’ve done some digging today and found the short-term CTA levels. CTA short-term levels for the NASDAQ-100 ($19,608 in the...
Market Update – Those Unusual Signals Mattered
1:35 p.m. ET It’s been a fast moving market. I’ve had to write and re-write this post, re-capture charts a...
A.M. Update – Mega Cap Tech Earnings Drag Market Lower
S&P (-0.9%) and NASDAQ (-1.45%) Index futures are sharply lower. Tesla (TSLA) and Alphabet (GOOG) show sizable pre-open declines in...
Daily Wrap – 3C… “Compare, Compare, Compare”
Recall that yesterday market internals came in at 1-day overbought,, and not by the small margin that we have often...