In light of the selloff which has caught so many mainstream pundits off guard, we are offering a $100 discount on the first quarter of a Quarterly Subscription and an $80 discount on the first month of a Monthly Subscription. Former Annual Subscribers, contact us to to inquire about renewing at your previous rate. For … continue reading →
Futures made a valiant effort to recover yesterday’s losses, even climbing back above the 10-day moving average by the close after coming within a few points of our 3336.50 target. But, the selloff continued overnight, with ES shedding about 30 points from the close before beginning the obligatory recovery as the open approaches, egged on … continue reading →
Algos have been given the green light by VIX, oil and especially currencies. We’ll focus today on currencies and why they’re presenting a bullish picture that should not be ignored.To be sure, USDJPY’s breakout smacks of desperation. But, we’ve been here before, and the signal hasn’t failed in at least 20 years. Of course, the … continue reading →
PPI increased by 2.1% YoY in January, the sharpest increase in 15 months. The monthly increase of 0.5% strongly outpaced expectations of 0.2%. Most of the commentary attributes the beat to transitory trade factors. Yet even core PPI increased at 1.5% YoY. Futures initially slipped about 1 point on the news, then settled higher, paced … continue reading →
Apparently AAPL slashing guidance is inconsequential and Bill Gates, who is predicting 10 million deaths, is some sort of conspiracy theorist – because the market continues to ignore the coronavirus story. Perhaps somewhere down the line the investing world will come to realize what we’ve known for years: stocks have become increasingly easy to manipulate. … continue reading →
It’s a strange phenomenon: the more serious the coronavirus threat, the more strenuous the efforts to prop up stocks. After headlines such as those below, the market has no business being in positive territory. CDC director: Novel coronavirus ‘is probably with us beyond this season, beyond this year’ Coronavirus Live Updates: China Says 1,700 Medical … continue reading →
So…the coronavirus isn’t tapering off after all. Not to worry, though, says WHO adviser Ira Longini. It should only infect about 5 billion people. If you’re surprised by the degree to which governments and the mainstream media have been downplaying the severity of the outbreak, you haven’t been paying attention for at least the past … continue reading →
The algos are working overtime, this morning, employing the usual VIX breakdown and CL “breakout” to keep futures on the rise. We saw the bullish 10/20 cross in SPX and ES yesterday, so the technical picture has officially shifted. When it comes to this market, where there’s a will…there’s a way. continued for members… … continue reading →
SPX broke out to a new high, yesterday, prompted by a last-minute breakdown in VIX that sent algos scurrying.It had all the integrity of a dog-faced pony soldier, but it counted all the same. Now, as the market is about to open this morning, we’re seeing repeated plunges in VIX – just enough to remind … continue reading →
Amidst growing speculation (soon to be evidence?) that the coronavirus outbreak is much worse than the Chinese have admitted, the market is having a hard time whistling past this particular graveyard. Futures have climbed back from an ugly Sunday, but are hardly out of the woods. If this gently falling, carefully managed channel breaks down, … continue reading →