A.M. Update
On this second trading day of the new year, S&P 500 futures are up +0.3%, as trading desks return to...
Window Dressing Dynamics Being Unwound First Trading Day of 2026; Potential Rotation to cyclicals, but Far From a Strong Case
1:47 p.m. ET The market got off to a strong Tech-led start and rapidly faded it. The evidence of Window...
A.M. Update
S&P futures are up 0.5 percent, set to break a four-day losing streak as markets start the new year, aligning...
Afternoon Update
Price declines may not be huge, but price action is solidly bearish. NDX’s (5M) price action this week is a...
Market Update
12:50 p.m. ET Apologies for the missed A.M. Update. The website’s web hosting went ahead with an unannounced migration to...
Daily Wrap – Window Dressing Fades; Important Clues Emerge Amid Dull Trade
Monday’s Daily Wrap concluded with the observation, “I anticipate a couple of lackluster days for market price action, but as...
Afternoon Update – Small Caps’ Weakness Intensifies Since FOMC Minutes
To be clear, nothing about today’s lackluster trade is a surprise, as laid out clearly in yesterday’s Daily Wrap: “My...
FOMC Minutes Update – Not Helpful
3:08 p.m. ET The Minutes from the December 10th FOMC are out. Before we get to that, this NDX chart...
Market Update – As Expected; FOMC Minutes on Deck
12:25 p.m. ET The broader market has an unsurprising flattish tilt, with 4 S&P 500 sectors trading higher and 7...
A.M.Update – Quiet Start
Index futures point to a flattish, mixed opening and a quiet start. The October Job Opening and Labor Turnover report...
Daily Wrap – New ABI Signals
Recently I’ve had a more and more difficult time explaining gold’s strength; acting more like a risk asset than a...
Afternoon Update
Mega caps are struggling today, with relative weakness driven largely by Nvidia and Tesla. Nvidia shows a small intraday bear...
ABI Signals Intensifying; Metals Posting Key Reversal Days
Losses across mega-cap tech names pressure the major averages, amid a more defensive tone as Window Dressing influence subsides near...
A.M. Update
S&P futures are down -0.4% with Nasdaq-100 futures down -0.7% to kick-off another holiday abbreviated week as the market will...
Holiday Trading in Low Liquidity – Proceed with Skepticism, Though Some Key Trends Are Emerging
Today’s trade is that of another sleepy holiday-week session with notable, though typical, thin year-end liquidity. The thin liquidity exacerbates...
A.M. Update
Equity futures point to a flattish opening in thin trade as the market returns from yesterday’s Christmas holiday. Metals, however, ...
Subtle Whispers from Volatility and ABI: Quiet Clues of a Bearish Shift Beneath the Calm
Today’s abbreviated session was a snoozer. The averages finished modestly higher, between +0.2% and +0.6% as volatility (VIX -3.7%) was...
Market Update – A Few Quiet, Interesting Developments
12:03 p.m. ET Trade is subdued. No surprises there. There are a few subtle developments taking shape or continuing that...
A.M. Update – Quiet Morning
Equity futures point to a flat opening this morning, which is unsurprising given the market will close early at 1:00...
Daily Wrap – Window Dressing
The market was a little over the place early on, then the slow low volatility grind higher. Index futures were...