Futures are off moderately, giving up about half of yesterday’s spike.As of yesterday’s close, the S&P 500 is off just over 20% – the worst calendar year since 2008. continued for members… … continue reading →
Yearly Archives: 2022
Futures are up moderately as we approach the open, gaining back much of the losses suffered yesterday in the wake of a dismal pending home sales print (-4.0% versus -0.8% expected, the worst since inception in 2001.) Prices fell MoM for the fourth month in a row. At this point, it appears the bulls are … continue reading →
It seems the algos are content to hold the current line instead of rallying into the end of the year – this Friday. continued for members… … continue reading →
S&P futures are quiet this morning, back to even after being up about 30 points overnight.continued for members… … continue reading →
What the algos giveth, David Tepper (bearish) and Q3 GDP (+3.2% vs 2.9% est. and -0.6% last) taketh away. Futures are off sharply as we approach the open. continued for members… … continue reading →
Wish I could say that the overnight ramp or the manner in which it’s being conducted was surprising. But, we’ve seen the Look! VIX is breaking down! movie so many times, it’s becoming as normal as negative interest rates. The algos don’t care whether it’s legit or not. They just see VIX off 21% from … continue reading →
The Bank of Japan has kept interest rates at or below zero for years. Their bet was that the suppression of interest rates (by purchasing Japan’s net issuance, the BoJ now owns over 50%) would offer sufficient protection against both inflation and the 263% debt:GDP – exacerbated by the rapid depreciation of the yen. Investors, … continue reading →
Futures passed on an opportunity to break out this morning, perhaps weighing the potential for a Santa Claus rally against the implications of a slew of important economic data later this week. Speaking of passing, how about that match between France and Argentina? I’m not a football nut, more of a rugby and basketball fan. … continue reading →
The confusion isn’t over whether the market will continue selling off. It will. The question is how far it can sell off before it’s “rescued.” Different indices indicate anywhere from 2.2% to 20%. And, it totally depends on which index gets to call the shots. If the Dow has its way, the market is in … continue reading →
As expected, Powell and Co. were not amused by the market’s recent exuberance and decided to take things down a notch. The algos haven’t yet given up, though, with VIX still under pressure and DXY remaining oversold.The reversal is working just fine so far. But, with OPEX tomorrow and two weeks left in the year, … continue reading →