Yesterday’s potential currency emergency fizzled after South Korea President Yoon Suk Yeol’s declaration of martial law was struck down by legislators who are expected to impeach the president today. The USDJPY, which had initially dropped through support, rebounded nicely, pushing the Nikkei up through 200-day resistance…
…and enabling VIX’s continued meltdown.
continued for members… (more…)
Futures are flat on another quiet day that probably won’t remain so quiet.
continued for members… (more…)
Futures are flat as we enter the final month of a pretty solid year.
Questions remain, however, regarding the economy’s ability to withstand the coming policy changes.
continued for members… (more…)
The 10Y broke back into the channel it broke out of several weeks ago, primarily on the enthusiasm around the treasury secretary designate – a hedge fund manager – will keep the plates spinning for another 4 years.
Whether or not he will is another matter. But, for now, the algos believe it and the 10Y is back below 4.3% and VIX has extended its plunge to 22% in the past three sessions – sending futures soaring.
continued for members… (more…)
Despite plenty of bombshell news, ES has spent an entire week wedged in between its 10- and 20-day moving averages.
With the USD spiking higher and VIX getting the bounce we anticipated, can it break back above its IH&S target?
continued for members… (more…)
At 213K, initial claims came in slightly below both the prior print and expectations. Futures rose slightly on the news, adding to their overnight meltup.
But, the more important print seems to be that of NVDA, which has again pushed above its Jun 2024 highs.
continued for members… (more…)
Futures are up slightly following yesterday’s selloff algofest which celebrated increased risk of nuclear weapons being used in Europe.
continued for members… (more…)
After Ukraine fired a longer-range ATACMS missile into Russia for the first time, Russia amended its nuclear doctrine to consider aggression from a non-nuclear state with the participation of a nuclear country to be a joint attack on Russia.
The futures market quickly sold off by about 1% before algos kicked in to limit the damage.
continued for members… (more…)
Futures are up very slightly after a week that saw prices begin to slump right on cue.
Unfortunately for bulls, the slump is not over.
continued for members… (more…)
