Daily Wrap
Yesterday afternoon, after noting a positive divergence in the DIA (and to a lesser extent Small Cap IWM), I wrote:...
Afternoon Update – Weak Effort With Massive Mega-Cap Weakness
3:34 p.m. ET Today’s market has good breath and participation with 8 of 11 sectors green and advancers better than...
Early Update – Small Over Large; Working Off 1-Day Oversold
12:40 p.m. ET The CME Group index pricing for the Dow Jones Industrial Average and S&P 500 froze around 10:41...
A.M. Update
Treasury yields are lower by a decent margin of 5-6 basis points following this morning’s economic data (GDP & Initial...
Daily Wrap
Stocks had a poor showing today with broad-based selling in what has been a fairly non-stop round of selling since...
Afternoon Update – Beige Book Not So Optimisitc
The Fed’s Beige Book is out this afternoon ahead of tomorrow’s Q2 GDP (recall Q1 GDP slid to 1.6% from...
Early Update – Higher Rates Causing Oversold Internals
12:17 p.m. ET It’s odd to watch how long it takes investors to react to something that happened yesterday with...
A.M. Update
S&P futures are down -0.75% and NASDAQ-100 futures down -0.9%, pressured by rising market rates. The 10-yr yield is up...
Daily Wrap
The stock market exhibited mixed action today. There wasn’t a lot of conviction from buyers or sellers after the holiday...
SPX Bottom of Range
2:57 p.m. ET Higher oil and Treasury yields are weighing more heavily on the equity averages as the day goes...
Yields Higher – More Solid Breakout – After Poor 2-Yr Treasury Auction
1:17 p.m. ET Earlier today oil prices breaking out of a downward sloping corrective 6-week channel helped to cause the...
Early Update – Interesting Timing
12:04 p.m. ET I haven’t forgotten or dismissed Thursday’s SPX Key Reversal Day price candle. I’m watching the next day...
A.M. Update
Stock futures indicate a mixed open for the major indices on the first session of this holiday-shortened week. S&P futures...
Afternoon Update
As expected in the Early Update, the S&P has been hanging around $5300 most of the session. It probably closes...
Early Update – Follow Through on Key Reversal Day As Expected
12:35 p.m. ET This morning we are getting exactly the kind of 1-day oversold internals bounce expected, but more than...
A.M. pdate
S&P futures are up +0.35% Markets will be closed on Monday for Memorial Day. The activity in Treasuries has been...
Daily Wrap – Key Reversal Day
I have to wonder whether Nvidia’s blowout earnings — the market’s fulcrum event of the week — just became a...
More Key Reversal Days & Bearish Engulfing Candles
3:14 p.m. ET Beyond the SPX and NDX… SPX NDX We also have the Technology sector… Tech (daily) The mega-cap...
Getting Uglier With Key Reversal Days
2:30 p.m. ET You might think NVidia’s beat would send markets soaring higher. I’d assume the same in a vacuum,...
Early Update – Risk Of Failed Breakouts
1:02 p.m. ET Nvidia is surging and the market has support from semis and mega-caps, but the rest of the...