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...
A.M. Update
S&P futures are up +0.7% and NASDAQ-100 are up +1.2% (Doe +0.15%) following NVIDIA’s (NVDA) impressive earnings results. NVDA shares...
Daily Wrap – The Fed Is More Worried About Inflation Than Portrayed, and Nvidia BEATS
The market exhibited mixed action again, almost frozen most of the day until the FOMC minutes were released. The hawkish...
Market Update
We’re going to look at a few different price trends as the FOMC didn’t help stocks, and we have Nvidia...
Fed Minutes Hawkish
2:33 p.m. ET The minutes from the May FOMC are out and they are more hawkish than expected. The bottom...
Early Update: Equity Markets Flat and Frozen & Commodities Broadly Lower
11:55 a.m. ET There’s a negative bias in early trading, but true to this week’s form, there’s not a lot...
Daily Wrap – Amid A Quiet Market Transports Have An Ugly Day
Within 5 minutes of looking at the market this morning my quick take (before I went through everything and posted...
Afternoon Update
Tone has improved a tiny bit since the last update when the majority of the averages were unchanged. Still, this...
Intraday Update – FOMC Minutes On Deck
1:34 p.m. ET My fist instinct upon a quick look at the market this morning was, “ the market is...
S&P Biotechs (XBI) Update
12:38 p.m. ET XBI (-1.1%) is consolidating again, thus far in a bullish flag. XBI (10m) The measured move coming...
Early Update: Transports Break, The Rest of the Market Is Unchanged
11:47 a.m. ET We had quite a few Fed speakers this morning already and some more to come: 9:00: Fed’s...
A.M. Update
S&P futures are down -0.07&, NASDAQ-100 down -0.23% and Russell 2000 futures down -0.6%. Earnings results from retailers garnered mostly...
Daily Wrap – Underappreciated Inflation Risk Building?
The averages were mixed in thin trade ahead of the week’s fulcrum events. In my view, that’s primarily Nvidia’s earnings...
Market Update – Another Record For Gold
3:17 p.m. ET Today’s trade features a positive bias despite the fact that only 4 of 11 sectors are green...