The Devil’s Playground

Catch this news flash yesterday?  Trump, ironically at a White House meeting with the National Council for the American Worker: You’re gonna see on China, today, right after close of business…we’ll be announcing something, uh, and it will be a lot of money coming into the coffers of the United States of America, a lot … continue reading →

Core PPI Ticks Higher

This is the most interesting PPI report in some time.  The headline number fell from 3.3% to 2.8%.  But, Core PPI (less food, energy and trade services) ticked higher.  We’re used to seeing food and energy prices as the cause of higher inflation.  Apparently, this time it’s everything else that is ticking higher. When core … continue reading →

Monday Morning Meltup

The backtest we expected last week played out almost exactly as planned.  So, naturally, we’re getting a fairly typical Monday morning meltup. None of last week’s troublesome issues have dissipated, but the market has made a statement about additional downside.  All we’re waiting on now is for VIX to follow through with a breakdown. continued … continue reading →

It’s a Wonderful Market

SPX and ES had no trouble reaching our initial downside targets — a backtest of their January highs.  We wondered, however, whether the SMA20s, loitering just below, might come into play. Sure enough, ES tagged its SMA20 with ease.  But, emini traders strongly resisted a drop through the SMA20 – bad mojo, don’t you know. … continue reading →