Daily Wrap – Still Deleveraging Large Cap Tech
After yesterday’s close at session lows, the averages had a weak start with NASDAQ-100 falling -1.65% in the first 45...
Afternoon Update
The averages have pulled back quite a bit off their best levels of the day. The NASDAQ-100 is back below...
One Day Oversold
12:40 In yesterday’s Daily Wrap Summary, I wrote, “there’s a strong argument for a weak open tomorrow. However, we also...
A.M. Update
S&P futures are flat. Weekly initial jobless claims totaled 235,000 (consensus 240,000) following a revised count of 245,000 last week...
Daily Wrap
Over the last month or so I’ve written many times that this earnings season has a higher bar to impress...
Afternoon Update
I’ve done some digging today and found the short-term CTA levels. CTA short-term levels for the NASDAQ-100 ($19,608 in the...
Market Update – Those Unusual Signals Mattered
1:35 p.m. ET It’s been a fast moving market. I’ve had to write and re-write this post, re-capture charts a...
A.M. Update – Mega Cap Tech Earnings Drag Market Lower
S&P (-0.9%) and NASDAQ (-1.45%) Index futures are sharply lower. Tesla (TSLA) and Alphabet (GOOG) show sizable pre-open declines in...
Daily Wrap – 3C… “Compare, Compare, Compare”
Recall that yesterday market internals came in at 1-day overbought,, and not by the small margin that we have often...
Intraday Update – SPX, NDX, IWM, GOOG
3:15 p.m. ET 3C for SPX/NDX is on the weak side intraday. That’s not necessarily a bad thing or unexpected...
Market Update – Still Going To Plan (Expectation)
12:31 p.m. ET Existing home sales fell for the 4th consecutive month, down -5.4% month-over-month in June to a seasonally...
A.M. Update
S&P futures are just a tick below unchanged. NASDAQ-100 futures are still down -0.2%; lower after disappointing earnings guidance from semi,...
Daily Wrap
After last week’s slide in mega caps and semis, both saw gains today, as did semiconductors. At the end of...
Afternoon Update
So far the expectations I posted late last week, including Friday, are holding water and holding well. As for the...
Market Update – Going To Plan, or Expectations
1:14 p.m. ET As far as my forecast late last week, things are going exactly to plan. Intraday, the market...
A.M. Update – Biden Steps Aside, Little Reaction
S&P futures are up +0.6%, supported by pre-open gains in mega cap and semiconductor stocks which have lifted NASDAQ-100 futures...
Video Update
I hope you’re having a fantastic weekend so far. Here’s my follow-up of last weekend’s video. The red flag on...
Afternoon Update
You know the levels I’m watching. They’re not looking great as of the close. I suppose CrowdStrike (CRWD -11.1%) caused...
Gold Update
2:59 p.m. ET Gold futures settled lower by -2.3%. In last night’s Daily Wrap, I wrote, “there is the chance...