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....
Oil and Rates Pullback on Flurry of Headlines, Contributing to Market Gains. Averages Haven’t Filled The Gap Yet.
Although the latest geopolitical headlines are highly mixed and contradictory, they are triggering meaningful declines in oil prices and bond...
A.M. Update
S&P futures are up +0.35% in what’s a minor bounce in the continuation of a downtrend or correction over the...
30-Year Yield Rises To Highest Level in Almost Two Decades; Tops 5.20%. Equities Have Not Priced This In.
Most everything dropped at the cash open. Dip-buyers stepped into a number of areas, from Semiconductors to defensive sectors, but...