Afternoon Update
Given the mega cap 3C positive divergences and the Fed’s Waller opening the door for mega caps to take over...
Waller Gives Mega Caps The Chance They’ve Been Waiting For
Equity futures pointed to a modestly lower opening in premarket this morning, until the 8:30 a.m. ET data dump and...
A.M. Update
Crude oil is moving higher this morning (+0.75%), as hostilities continue in and around the Strait of Hormuz. However, U.S....
Midweek Bounce After Oil and Yields Stopped Rising. Changes In Character Precede Changes in Trend.
After rising oil prices and Treasury yields pressured equities through the first two sessions of the week, the stock market...
Market Update: SPX Tests Former Support as Resistance; Mega-Cap Leadership and Oversold Small-Cap Bounce
Both the 10-year yield and crude oil prices pulling back from their overnight highs helped alleviate some of the pressure...
$90 Oil, 4.80% Tens, and a Failed August Breakout
Global sovereign yields have been getting more and more attention (not just the U.S. or Japan) in recent days, as...
Market Update – Second Round of Rotation – Both Sides.
Things are happening fast. While I was going through the last post, the US launched a second round of strikes...
Retaliation – WTI +5.5%
President Trump posted on Truth Social, Iran’s military leadership said it will “inflict devastating and crippling blows” in response to...
Higher Oil and Yields Weigh On Stocks
Higher oil prices and Treasury yields continued to pressure equities this morning. A Bloomberg gauge of global sovereign yields rose...
A.M. Update
S&P futures are down -0.65%, while Nasdaq-100 futures are down -1.3% following a reports of a strike by Micron’s labor...
The Strait Is Back. Fill the NDX Gap, Then Sell Strength.
The market has been working through the thin volume and liquidity of the summer doldrums. The trough is the upcoming...
Market Update – Finish the Gap Fill Effort, Or Not?
Escalating U.S.-Iran hostilities and higher oil prices set the tone in thinner pre-holiday conditions. Weakness is broad as the latest...
A.M. Update
Index futures are down -0.35% fairly evenly across the board as investors monitor the latest geopolitical developments amid a fairly...
Warsh Turns Hawkish, Semis Distribute, Gap-Fill Bounce Started
The session has been all over the place. An early theme is a Mega Cap-driven rally with Semiconductor weakness (which...
A.M. Update
Index futures are mixed this morning with the lot trading within 0.1% on either side of their flatlines after a...
Forecasted Bounce Starts: Tech Carries Everything, Breadth Collapses
We have the start of the forecasted move, led by the Technology sector, or more specifically, Semiconductors (SOX +2.3%) and...
Afternoon Update
First, Whatever degree of intraday relative strength in VVIX or even VIX, neither developed enough to be any kind of...
Market Update
Earnings are in the driver’s seat today. Tomorrow could see focus shift back toward macro drivers as Fed Chair Kevin...
A.M. Update
S&P futures are up +0.3%, while Nasdaq-100 futures are up +0.8% after Nvidia (NVDA) delivered another blowout quarter yesterday after...
Holding Pattern Into Nvidia
The week’s big data point, PCE dropped Wednesday before the open, coming in slightly hotter-than-expected: Headline 0.2% MoM & 3.7%...