This is all it took to get FOMC members to walk back Bullard’s hawkish comments. Note the tiny channel breakdown. Terrifying enough to keep QE going and to respond to the worst inflation in 40 years with a mere 25 bps rate hike a month from now? Apparently.How else can you explain this insanity? If … continue reading →
Monthly Archives: February 2022
January headline CPI reached 7.5%, a new 40-yr high, sending the 10Y up over 2% for the first time since August 2019 when CPI registered 1.75%. As has been the trend since November, oil/gas no longer leads the way. Inflation has become widespread, higher than the Fed’s so-called 2% target in every category except, ironically, … continue reading →
Does it seem like the market always ramps into the monthly CPI data dump? It’s not your imagination. The only exceptions in recent memory were in Sep and Oct, when CPI dipped below trend and then recovered, and in January, when investors’ worries over the Fed’s reaction to the Dec 2021 data caused a mild … continue reading →
Futures are off modestly as we approach the open. Aside from a few formerly shiny objects… …all eyes are on Thursday’s CPI. continued for members… … continue reading →
Futures are up slightly as we approach the open – an extension of the bounce off recent lows. continued for members… … continue reading →
This week has been one for the record books, with major market stalwarts plunging one day… …and soaring the next.S&P futures have ranged nearly 90 points already, and the market hasn’t even opened yet.continued for members… … continue reading →
Futures are off sharply overnight on Facebook’s sensational plunge. continued for members… … continue reading →
COMP’s breakdown caught a lot of people by surprise (though thankfully, not everybody.) Likewise, its bounce has turned more than a few heads. As it approaches a backtest of its channel line and SMA200, what can we expect? And what does it mean for the broader market? continued for members… … continue reading →
Yesterday, we stated it was time for the bears to put up or shut up. They punted. Thanks to VIX breaking down, SPX and ES are back above their 200-day moving averages for the first time since Jan 20, a move that clearly takes some pressure off.It doesn’t necessarily mean, however, that the the correction … continue reading →