Daily Wrap – Important: CARRY TRADE NOW IN THE MIX
Most of the averages closed with modest gains. Tech and mega-caps provided leadership, though action was choppy in session and...
Bitcoin Leading Risk-On, Yen Tempering Risk-On
Bitcoin supports risk sentiment, while the Japanese Yen tempers it. In the meantime, yesterday’s afternoon rotation– selling cyclicals and accumulating...
A.M. Update
S&P futures are up 0.3% as Bitcoin bounces (+1.5%), giving the index futures a flat trajectory since last Wednesday’s close....
Daily Wrap
I was looking forward to this week as traders come back to their desks after a holiday-shortened week of light...
Afternoon Update
The major averages are set to move back toward session lows with a bearish consolidation this afternoon. SPX (1m) The...
Market Update – Right Shoulder Formation As Expected
1:12 p.m. ET Traders have returned to their desks as month-end flows fade. December kicks off in risk-off mode, with...
A.M. Update
December is starting on a sour note. Stocks are under pressure this morning wit S&P futures down -0.65% as Bitcoin...
Afternoon Update
A couple more potentially interesting developments are taking shape. I don’t want to make too much of it on a...
Market Update – Mega Caps Losing momentum; Precious Metals Breaking Out
11:45 a.m. ET Averages The averages have the same consentient gains as seen Wednesday, presumably as the market goes on...
A.M. Update
Good Morning. CME Globex Futures & Options Markets just reopened at 8:30 a.m. ET after being offline since last night...
Daily Wrap – Happy Thanksgiving
The stock market saw another broad-based rally, but a much more uneventful session a day before the Thanksgiving holiday. Averages...
Market Update
The market is posting another strong, broad-based rally today — exactly the kind of impressive price action you’d expect on...
A.M. Update
S&P futures are little changed from last night up 0.3%. Economic data this morning is mostly better than expected, but...
Daily Wrap
The market posted a broader-based advance today, even as Nvidia and AMD weighed on Semis and the Tech sector. Investors...
Afternoon Update
Signals are a mixed bag. Credit is supportive of more upside as credit has gotten a major boost from...
Market Update -Rotation to Defensive, Value, High Beta and Weakness In Chipmakers
1:31 p.m. ET Tech names gave back the bulk of yesterday’s gains in early trade, with considerable weakness among chipmakers...
S&P 500 futures are down just shy of 1/10 of a percent while NASDAQ futures are down 0.25%. Nvidia shares...
Daily Wrap – Big Shift In December Rate Cut Probabilities
I’ve had SPX $6550 flagged for 5 or 6 weeks as key level of interest and support zone. The 100-day...
Afternoon Update
Judging by Credit, volatility, and a few other assets and signals, I suspect the S&P at least tests the last...
Intraday Update – Interesting Parallels
2:29 p.m. ET Bitcoin (+1.85%) isn’t leading tech higher, but acting better than earlier. Nasdaq-100 (5m) & Bitcoin futures. There...