Market Update -Yesterday’s Wrap Forecast Scenario Playing Out Eerily Accurately?
Most of the averages are making an attempt to breakout of the week-long bullishly-biased consolidation. SPX (10M) Price action doesn’t...
Cool CPI, Quiet Consolidation, and Quiet Cracks in the Mega-Caps ; Head Fake Coming?
Wednesday was yet another dull, below-average volume, consolidation day. The July Consumer Price Index matched consensus expectations, with headline CPI...
Afternoon Update
I’m not going to say there’s anything that stands out as, “Jumping off the chart,” in terms of market signals,...
Tech & Semis Lead on In-Line CPI; Averages Remain in Consolidation As Crude Sits at a Key Level
It’s the influential Technology sector’s turn to lead today, but more specifically, the Semiconductors. The major averages, however, remain in...
A.M. Update
S&P futures are up +0.35%, led by the tech-heavy Nasdaq-100 (+1%) and Semiconductors. Index futures gained more ground this morning...
Consolidation Continues: Low-Volume Holding Pattern Ahead of CPI as Oil Looks Sharp
The market is roughly a week into consolidating last week’s oversold rally off technical and price support. Tuesday’s dull, low-volume...
Afternoon Update – Holding Pattern
Tomorrow’s CPI appears to be supporting Treasuries and helping keep yields relatively stable (ranging from unchanged to down about 2...
Market Update
It has been a pretty dull, muted session thus far… consolidative, as it has been for a week now. Some...
A.M. Update
S&P futures are up +0.15%, as WTI Crude oil (+0.15%) is currently hovering around its flatline, off its earlier highs...
Oil Spikes, Yields Rise, and AI Debt Keeps Growing — Consolidation Continues with Growing Caution
The new week continued the price action from Friday, consistent with the outlook in Friday’s Afternoon Update: “Monday should pick-up...
Market Update – Stocks Pause Amid Oil’s Surge, Amid Chip Weakness
The averages are mostly little changed following through to start the new week with consolidative tone, though trading modestly lower...
A.M. Update
S&P Futures are down 0.1% after erasing most overnight gains as WTI crude oil futures climb +1.85% to $79.62/bbl. Iran...
Afternoon Update
About an hour before the close, U.S. officials leak some positive news: US Official: Progress Between Oman And Iran On...
Market Update
The July jobs report was classic “bad news is good news.” Investors are looking at the numbers and seeing basically...
A.M. Update
July nonfarm payrolls fell by -23,000 jobs (consensus 86,000), from a downwardly revised prior increase of 20,000 (from 57,000). That’s...
Averages Consolidate, While Hormuz Concerns Lift Oil & Yields
After a relatively weak open, technology initially stabilized the market. Sandisk (SNDK -6.8%) and Western Digital (WDC -13%) opened sharply...
Afternoon Update
The price consolidations I mentioned earlier are all still intact. Oil has moved higher, up almost +4% A few minutes...
Market Update – Lots of Consolidations
Averages SP-500 -0.15%, Dow -0.75% (Transports -0.3%), NASDAQ-100 -0.3%, Small Caps -0.3% The averages continue the price consolidations noted...
A.M. Update
S&P futures are up +0.1%, while Nasdaq-100 futures are down -0.6%. Sandisk is down ~9% and Western Digital is down...
Quiet Markets, Complex Hormuz Headlines & a Gold Surge
Overall, a pretty quiet day for the averages. A modestly lower U.S. Dollar and Treasury yields provided a neutral to...