Afternoon Update
As OpenAI is perceived as seeking government guarantees, Altman is furiously backpedaling today. The post is so long I’ll quote...
Market Update
1:58 p.m. ET Yesterday’s internals were 1-day overbought, still I was looking for another day of two of consolidation...
Wednesday’s Daily Wrap: Dual Themes & A Stark Divide
Two central themes emerged from Wednesday’s Daily Wrap Summary analysis: AI and the detiorating state of the consumer, both of...
A.M. Update
Index futures are flat to -0.15%. Challenger, Gray & Christmas reported 153,000 layoffs for October, a 175% increase from a...
Daily Wrap – Oversold Bounce-Type Activity
Today had all the hallmarks of 1-day oversold internals–which we came close to Tuesday, but not technically there– coinciding with...
Afternoon Update
Thus far today’s market dynamics are identical to 1-day oversold. I see no reason that it doesn’t lead to a...
Market Update
Yesterday’s internals were not officially 1-day oversold, but close in several aspects. Today’s rebound has thus far been typical of...
Market Update- Oversold-Like Rebound After Yesterday’s Slide… Consolidation?
12:52 p.m. ET Today’s seeing a broad-based rebound. The Technology (+0.8%), Communications (+0.75%), and Consumer Discretionary (+1.1%) sectors are not...
A.M. Update
S&P futures are flat on the heels of yesterday’s slide that saw tech and mega-cap names pace losses for a...
Dailt Wrap – AI Trade Hits a Wall—Market Retreats Over Valuation Concerns
Index futures tracked lower overnight with the catalyst being AI-related valuation concerns. Palantir Technologies (PLTR -7.95%) moved sharply lower despite...
Afternoon Update
I’m not sure we’ve reached the “consolidation” stage yet. The S&P hasn’t made a lower low… (5m) And VIX displays...
Market Update – Valuation Concerns
1:56 p.m. ET Growth (-1.4%) and Momentum (-1.35%) factors are definitely feeling the brunt of today’s selling, as compared to...
A.M. Update
S&P futures are down -1.15% and Nasdaq-100 futures down -1.55% as the recent AI rally meets some resistance following another...
Daily Wrap – Market Breadth Is Really Bad
The first day of the new month was mixed across averages and sectors, supported by narrow mega cap leadership. Like...
Afternoon Update
At the index level it’s a quiet-ish day with some relative weakness in Small Caps. The mega caps, semi, AI...
Amazon Announces $38 Billion Deal with OpenAI, Amid Weakness in the Broader Market
12:59 p.m. ET Index futures have once again faded at the U.S. cash open, like Friday morning. There’s still decent...
A.M. Update
S&P futures start the new week and month up +0.3% with five of the “magnificent seven” names trade higher in...
Quick Afternoon Update
The stock market opened higher this morning after another round of mega-cap earnings reports sent Amazon and Apple higher in...
Buying Oil (Trade)
3:17 p.m. ET I keep starting at this bull flag in WTI crude oil futures and it’s calling to me....
Commodities/PMs Review
1:14 p.m. ET I covered WTI Crude earlier. The only update since is President Trump refuted the two newspapers’ claims...