A Brief Taste of Reality

For a moment, at least, markets were treated to another taste of reality: rates at an acceptable level, the US dollar reacting accordingly, the USDJPY tumbling normally, VIX not being hammered into submission, and oil prices reflecting fundamentals.  Algos, which have grown accustomed to generous support from all the above, simply reacted as they should … continue reading →

Update on COMP: Mar 20, 2018

Facebook is only 5.5% of the Nasdaq Composite (COMP), but yesterday’s plunge [see: Facebook Flops] was a good reminder to update our outlook. In our last update [see: Nov 6, 2017 Update] we identified 7619.37 as our next upside target. At this point, it’s pushing into the top quadrant of the rising white channel where … continue reading →