Daily Wrap
I was set to have an early night, then a family member had a seizure in the living room. I’ve...
Afternoon Update
The averages are little changed from the last update in something of a sideways drift with the DJIA, Dow Transports...
Market Update – Consolidation; Government’s Intel Shares Have Voting Rights
The averages are in various states of consolidation / profit taking following Powell’s Jackson Hole commentary and related advances with...
A.M. Update
S&P futures are down -0.25%. September rate cut probabilities are not too different than before Powell, at 83.2%. Powell’s dovish...
Quick Afternoon Update
It has been a long day of looking at knee-jerk reactions. I don’t want to rush the Afternoon Update. I...
Powell’s Jackson Hole Swan Song, Echoes With The Coos of Doves
Busy Day! All 11 sectors opened higher in a broad-based advance ahead of Powell. Powell just reinforced the optimistic expectation....
A.M. Update
S&P futures are up 0.2% as the market eagerly anticipates Fed Chair Powell’s Jackson Hole speech at 10:00 ET. The...
Daily Wrap – Waiting
I was a it on the quiet side today amid a noticeably low volume session. I had a long night...
Afternoon Update
I’ve been quiet today because there’s not much I can add to what I laid out last night. The day...
Consolidating Into Powell
11:54 a.m. ET So far price action looks pretty much like the example trend line I drew in yesterday, Tech...
A.M. Update
S&P futures are down 0.4% as the Fed’s Jackson Hole symposium kicks off today. Fed Governor Lisa Cook responded to...
Hammer Time – Setting Up For An October Surprise?
First, I have to say that when you get a clean bear flag like the SOX index down to $5600,...
Market Update
3:24 p.m. ET The earlier dip buyers got cautions ahead of the FOMC Minutes. SPY (1m) It does look like...
Hawkish Minutes
2:23 p.m. ET Summarizing the FOMC Minutes, at least the important parts, several participants said that the current Fed funds...
Incoming Dip Buyers
12:23 p.m. ET Measured moves like SOX’s often are surpassed as emotion overwhelms, like this morning’s fear – a powerful...
Quick Update
11:21 a.m. ET This morning is largely a carbon copy of yesterday, dumping growth, momentum, Technology, megacaps, semis on one...
A.M. Update
Index futures are on track for a slightly lower open. There are no consequential economic data releases today, but the...
Daily Wrap – Selling Tech and Playing Defense
Index futures didn’t look great last night, but after yesterday’s cationic day, this morning’s sell-off was an abrupt turn. The...
Afternoon Update
OK, the market is sitting just off session lows. Semis’s relative weakness signal wasn’t huge, but it was there with...
There It Is Again – Momentum Pairs Trade Viscously Unwound, Mega Caps Feeling It
This market is getting crazier and crazier. The underlying cross-currents are absolutely insane. Value (+0.2%) is outperforming Growth (-1.4%) by...