Dollar Struggles

The weakening dollar continues to weigh on equities.  The FOMC has its work cut out for it as investors are increasingly having a hard time believing that a rate hike is on the way. After three weeks of avoiding its SMA200 like the plague, USDJPY broke down through it last night and is headed for … continue reading →

The Same, but Different

Yesterday started out with a VIX-driven pop that quickly fizzled and nailed our downside target before rebounding and hitting our upside target.  Since SPX closed right at resistance, it needed a boost overnight.  So, why not go back to the same clever trick that worked the day before? Yes, VIX’s red channel has broken down … continue reading →

Oil Spoils, VIX Fixes

Yesterday’s daily post’s title said it all: timing is everything.  Yet, I had no idea the gratification would be so instant when I posted the recommendation to short oil at 9:35AM. CL is at or very close to the top of a long-term channel that could put an end to any further escapades…  The SMA100 … continue reading →

Timing is Everything

Had the disappointing OPEC summit results been announced during market hours yesterday, we might not have seen a 2.8% ramp in WTI futures from Tuesday’s lows.  Together with the ongoing meltdown in VIX, this was enough to push S&P500 futures to new all-time highs.But timing, as they say, is everything.  With a 7-pt ramp in … continue reading →

Market Averts A Disaster

Traders around the world are breathing a sigh of relief, this morning, after the market narrowly averted a disaster yesterday. The day started normally enough, with a gap higher on an 11.4% plunge in new home sales.  But, after gaining about 7 points, SPX started slipping.  At 12:09, it began what can only be described … continue reading →