Jackson Hole Day

SPX dithered and dallied yesterday, but in the end tagged our downside target before the supportive forces of rising oil and falling VIX came to the rescue. Today, we’ll be watching for signs of policy changes from the brain trust gathered at Jackson Hole.  Currencies, which have been active all week, are already responding.  And, … continue reading →

Beware the Ramp

Yesterday was an exercise in propping up equities until the close, which clearly pointed to a continuation of the slide.  Thanks to oil’s pump and VIX’s dump overnight, however, the futures were able to break out of their funk and are now sporting a 6-pt gain going into the open. This leaves the downside from … continue reading →