Carry Trade Chaos
I’ve already covered USD/JPY’s change in character and why: Prime Minister Takaichi’s dovish, debt-financed stimulus push, plus snap February 8...
Carry Trade Tremors & Leadership Rotation: 2026’s Risk-On Theme Showing Cracks
Today’s market landscape features a multitude of interconnected dynamics playing out across various asset classes, sectors, and time horizons, creating...
A.M. Update
S&P futures are down -0.25%, sliding lower overnight after the Yen dropped sharply in seconds on a “a hawkish hold” from...
Daily Wrap
The dominant market theme Thursday centered on relief-driven follow-through from Wednesday’s headline-driven volatility, sparked by geopolitical concerns around Greenland and...
Intraday Update
Most of the gaps from Tuesday’s open have been filled. NDX SPX I’m not sure that the afternoon tone is...
Market Update – Filling Tuesday’s Greenland/Tariffs Gap
The stock market has seen a continuation of yesterday’s strength, though the market has advanced in a more orderly fashion...
A.M. Update
S&P500 futures are up 0.65%, adding to yesterday’s rollercoaster, relief rebound as President Trump announced there is a “framework of...
TACO- Separating Signal From Noise
I’m not sure how much signal we can separate from the tape-bomb noise, but here’s the day in a nutshell:...
Tape Bombs
President Trump said that the framework of a future deal with respect to Greenland and the entire Arctic region has...
Greenland Relief Rally Fades: Trump Rules Out Force, But Tariffs Loom as Wildcard – Equities Bounce, Then Stall
Equities staged a broad-based rebound (oversold-like bounce) after President Trump’s World Economic Forum address at Davos, stated the U.S. will...
A.M. Update
Equity futures (-0.1% to -0.3%) gave up overnight gains and trade moderately lower this morning with President Trump’s speech at...
Pre-Existing Technical Cracks & Accelerating Geopolitical/Structural Uncertainty in 2026
It’s tempting to quickly blame today’s volatility purely on headline jitters—Trump’s Greenland tariff threats reigniting trade-war fears, but Japanese bond...
Afternoon Update
NDX is at its 100-day, still a ways to go to reach the neckline. Mega Caps have been notably weak...
Market Update
2025 went hard, but 2026 is sprinting straight into “hold my beer” territory as flashes of uncertainty lean toward flashes...
A.M. Update
S&P futures are down -1.5%, Nasdaq-100 -1.8% and Russell 2000 -1.8% as markets fixate on President Trump’s escalating Greenland demands...
Martin Luther Holiday Brief
Caution and a healthy dose of skepticism are warranted when viewing futures price action outside normal cash market hours (especially...
Afternoon Update
Markets have drifted sideways all afternoon with the majors virtually unchanged on the day in what appears to be classic...
Mixed Op-Ex Price Action Keeps Averages Flat, USD/JPY and 10-Yr Yield At Interesting Levels
Mega Caps and Semis led pre-market gains. MAGS faded the entire gain to trade lower shortly after the cah open....
A.M. Update
S&P futures are up +0.15%, receiving a boost from the mega-cap cohort. The market is receiving a batch of earnings...
Tech’s Early Surge Fades, Small Caps Dominate, Carry Trade Questions
The stock market delivered a mixed but ultimately positive session, with broad-based gains led by Tech after TSMC‘s strong earnings...