Futures are flat after a turbulent day yesterday and ahead of tomorrow’s retail sales. continued for members… … continue reading →
Category Archives: Charts I’m Watching
Stocks reached new record highs yesterday and are slated to move even higher. Note that ES is approaching our Fibonacci 5942 target from several months ago. continued for members… … continue reading →
Futures have crept higher in this quiet, semi-holiday pre-market. The week ahead features several important data points: initial claims and retail sales on Thursday and housing starts on Friday. continued for members… … continue reading →
PPI came in at 0.0% MoM and 1.8% YoY, supporting expectations of a 25 bps rate cut in November. Algos approved and are holding yesterday’s trading range. These expectations, however, are probably wrong. As we’ve discussed often over the past few months, the decline in goods prices from 0.6% in Jul to 0.0% in Aug … continue reading →
Is it warm in here or is it me? CPI came in a little hotter than most expected: 0.2% versus 0.1% MoM and 2.4% versus 2.3% YoY. While still down sharply from 9.1% in June 2022, the pace of the decline has many wondering about the Fed’s pace of lowering interest rates. Futures are off … continue reading →
Futures are flat ahead of tomorrow’s CPI print. Yesterday’s price action put ES in the most ambiguous position possible: poised for a reversal or a breakout. continued for members… … continue reading →
Futures have rebounded almost .50% after testing recent lows yesterday. Traders remain focused on tomorrow’s FOMC minutes and Thursday’s CPI print. continued for members… … continue reading →
While Friday’s jobs report hinted at a soft landing, it also strongly suggested a more modest rate cutting path than the Fed’s initial 50 bps cut had indicated. After all, Powell has gone out of his way to Fedsplain how employment is the most important mandate now that inflation is licked. But, what if the … continue reading →
NFP came in a nearly double expectations: 254k versus 130k expected. The unemployment rate dropped from 4.2% to 4.1%. Altogether, it was a very hot report that might have been expected to dampen expectations regarding the next FOMC rate cut. But, the algos are currently in a “good news is good news” mood, so futures … continue reading →
In a week fraught with geopolitical danger, the market has managed to thread the needle thus far – holding support when it counted. Even if it manages to shrug off tomorrow’s nonfarm payroll print, it still faces CPI and PPI next week. continued for members… … continue reading →