Daily Wrap – Nvidia Blows Away Estimates
The averages got off to a strong start until S&P futures hit a brick wall just above $6700. (1m) Goldman...
FOMC Minutes No Help
2:44 p.m. ET Without going into all of the details, of which there are plenty with balance sheet conversations, December...
Market Update – Treading Water
1:01 p.m. ET I usually like to let the market go through it’s opening shenanigans and take the pulse. Early...
A.M. Update
S&P futures are up 0.25% ahead of Nvidia earnings after the bell. The market will receive the FOMC minutes from...
Daily Wrap – SPX $6550 Shaping Up To Be Interesting
Weakness lingered in Tech, Mega caps and Semis on Tuesday. Selling wasn’t as broad-based as Monday. I suspect that’s because...
Afternoon Update
Other than the few divergences touched on in the last post, nothing big has changed. Volatility’s 3C charts are still...
Intraday Update -MEga Caps and Semis Still Weigh
2:35 p.m. ET The major averages are currently well off of session lows, as the broader market attempts to rebound...
Cut Half of Long Volatility Exposure
I sold half of my UVXY long ahead of tomorrow’s VIX futures contract roll, given the effort on 3C charts–...
More Ugliness in Tech/Mega Caps.
12:oo p.m. ET The futures overnight tests didn’t hold any water once the cash market opened. Mega Caps –Mag-7 or...
A.M. Update
Index futures are down about a half a percent. NASDAQ 100 futures held Friday’s low on an overnight test. Price...
Daily Wrap – No Shortage of Worries
I still lean toward a bearishly-biased consolidation into Nvidia’s earnings Wednesday after the bell — prices grinding around key technical...
Afternoon Update – Regional Banks Break; Small Caps Troubling
Earlier Regional Banks (-3.7%) were still holding in their bearish descending triangle consolidation, but they’ve broken and it looks definitive....
Intraday Update – Test of Friday’s Low, Dip Buyers Not Showing Up
3:01 p.m. ET The S&P and Nasdaq-100 are headed for a test of Friday’s intraday low… SPX (10m) And that’s...
Market Update- Holding 50-Day, But Bearish Tone As Amazon Reignites AI-Debt Fueled Concerns
1:23 p.m. ET My takeaway from last week’s action heading into this week was that technical support would hold, but...
A.M. Update
S&P futures are down -0.15%, from up +0.6% in the overnight session. Tech stocks are heavy in the pre-market session...
Afternoon Update
The market faced several issues this week. Kimi K2’s open-source model performs at a fraction of GPT-level cost and that...
Averages Test 50-Day For Second time in A Week
1:39 p.m. ET The SPX and NDX are testing the 50-day SMA for the second time in a week. Price...
A.M. Update
S&P futures are 1% lower and NASDAQ futures are 1.5% lower as investors grapple with issues such as whether the...
Daily Wrap – Big Update
This week’s bounce kicked off strong with mega caps leading, but with some hints of trouble that progressed: Monday’s Oracle...
Afternoon Update
The S&P is putting up a fight at the bottom of the gap (potential support)… (10m) 3C doesn’t look much...